izzy

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    • in reply to: block D
    izzy
    Member

    Also buying in Block D and went out for a week earlier this month. Met with Fabrizio who was still adamant that some of the Block D apartments would be finished for Dec. Our personal view was that May/June would be most likely for the block to be any where near fully finished. Had a look around Block D and plumbing and electrics are in, and they were just starting to tile in a few of the apartments. Photo wise not a lot to see – still looks as it did a couple of years ago!

    izzy
    Member

    quote:


    Originally posted by Diddydona

    Which company did you use? Sounds like it’s better than the one I looked into, so if people decide on this route it would be good to have a recommendation.


    The company was Hifx – set up ovet the phone and then managed via the internet

    izzy
    Member

    The 1.46 rate on the forward contract was set up around May last year. I’ve made all the payments now (although final payment has been diverted elsewhere due to delays on completion[V]) There was no clause in the contract about revised rates if exchange rates dropped excessively, and in fact at the time of the final payment the euro had dropped in value against the pound by about 16% – but the original rate was guarenteed.
    Not advising people to go either way – just imparting my experience

    izzy
    Member

    Hi Capenogood

    Sorted out a forward contract with HIfx at the beginning of our purchase and fixed the euro exchange at around 1.46. You don’t have to pay all up front – I had to pay the equivalent of the final payment amount as a deposit and then you just transfer money to Hifx before your next installment is due. Looking at the state of the pound against the euro was very glad to have taken this approach. There is a gamble that the exchange rate may change in your favour, but in my mind well worth setting in stone the amount you are going to pay for your property up front.

    izzy
    Member

    We are buying an apartment in Block D, and received the ‘invokation of force majeur’ email eariler this week.[V]

    I contacted by solicitor who is Joao Cunha Vaz from Neville de Rougement who replied saying that they had recevied similar communications from a number of clients, and that they also do not agree at least with some of the reasons presented. They have advised that one of the partners is going to discuss the matter directly with Turinvest in Cape Verde ‘in order to reach a satisfactory conclusion for our clients’

    Will keep you all posted of any developments from this line of attack

    izzy
    Member

    Hi David

    We are ground floor as well – so looks as if the timescales may be slipping!!

    Izzy

    izzy
    Member

    Got back from CV on Friday having just bought in Djadsal Block D.

    Can confirm that D is Yellow – C is going to be Orange and E will be Terracotta. Completion Date for D is end Sept 08 and we got the impression that C would be similar timescales

Viewing 7 replies - 1 through 7 (of 7 total)