How should one check the day the complex is finished until that day arrives? If it is naive to believe that amenities listed will be built, swimming pool, tennis court etc, how can you compare different investments?
Construction project are subject to weather, labour, material shortages and as a result they get delayed.
Even if you want to sue them any breaches, they will have no assets in Morocco. You have bought a flat in Morocco and eventually the complex is ready for it to be let. Speaking French but little Arabic, you go out to furnish and prepare it. Wait til the plaster has dried an rejoice that you have resisted blackmail. Oh bother , the flat still lacks furniture and anything else. To be fair, the complex is in a delightful place, ideally placed for golf, water park, riding, nearby restaurants, Marjane,golden beach (though not on the front line) etc. I bought at the beginning secured loan through English lawyers who decided not to go on doing business with Compass, then Compass switched to Canadian lawyers. But the prospective buyers need to ask a question as to why a firm of lawyers would let a client go.
But the prospective buyers need to ask a question as to why a firm of lawyers would let a client go. But the prospective buyers need to ask a question as to why a firm of lawyers would let a secured loan client go. Well, you can still get things done but you will wait forever - and they know damn well you are pushed for time so sit around with your dossier on the desk and do nothing. This is a fact - and it is high time prospective purchasers were given all of the relevant information before making the decision to purchase. Our sale completed in March 2008 and we are still waiting to get paid in full!
In my opinion Morocco is NOT a place for UK buyers to invest in property. They are too used to everything being done in the UK on the straight and narrow, when involved in matters of property transactions. They see a foreigner over there and the only thing on their mind is rich pickings. In fact - after 30 years of spending a fair bit of time over there I realy do think things are getting worse - not better - as a few years ago the bribes they were asking for were a pittance, but now they have got really greedy.
I personally know a Moroccan lady who is still trying to get a tenant out of her apartment after THREE years of unpaid rent. She is Moroccan (the owner) It is a minefield and you just cannot trust anyone to handle your letting for you while you are abroad. Apart from the corruption the ridiculous laws does not help e. VAT on mortgage interest rate, import duty on used personal belonging etc. Apart from the corruption the ridiculous laws does not help e.
I may be naive, but I have liked the Moroccans I have met who have been friendly and kind - strangers have gone out of their way to help me with little things and not for money.
It is the foreigners in Morocco, such as an Irish company, that have tried to con me.
They employ Moroccan staff who I have never found to be other than helpful and honest in the administrative tasks they carry out. WHAT ROLE ARE PLAYING ARE THEY AGENTS OR DEVELOPERS???? TAKING OFF 5M TO 10M PER APARTMENT WILL GIVE COMPASS SPACE FOR A FEW APARTMENTS TO POCKET THE PROCEEDS. THE DIFFERENCE IS THAT IT IS DONE MORE SUBTLY AND NOT ON YOUR FACE. But try to get a non- paying tenant out who is wrecking your property and the council officials will advise them on how to gain many extra unpaying months by going to court, making a token payment etc. WHAT YOU HAVE OVERLOOKED IS THAT THE DEPOSIT LODGED IS INFORMATION THAT BELONGS TO THE GOVERNMENT AND IS BEING MANUPLATED BY THE GOVERNMENT AND YES ONCE AGAIN THE INSURANCE PREMIUM TAX GOES INTO THE TREASURY. Not of course that I would wish to gas or electrocute or evict my tenants ( and have avoided doing so so far) but keeping secured loan secured loan up to date with the regulations and filling in ever more forms is a disadvantage of renting property in England.
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Had had a number of unsavoury friends round, playing loud music every night into the early hours thereby alienating our (local) neighbours to such an extent that they were considering moving. In addition, he had installed a girlfriend for a couple of months (being a working girl if get cash loan now you get my drift! This was someone who we had worked well with for well over a year, someone that we thought we had developed a good relationship with.... We luckily found someone else that we are trialling now and we shall see how that works out.... I hope this experience can stop someone else having the issues that we have had. My advise - get a married couple or ladies to look after you place! Sorry to hear your problems, but to be honest did not surprise me. Can you please tell me how a couple or a lady would minimise your risk of not ending in the same position.
I had seen what you had done to your property and was lovely. Esmerelda, I know a UK letting agent that has abused landlords trust here in the UK, even to the extent of driving the car they left in the garage over a period of months and then clocking the mileage back! It is with this knowledge that I felt safer investing in Saidia, as to go alone would be too stressful for me (you mentioned in the past buying off plan seemed to stressful for you - horses for courses eh!
I like to see the best in everyone but unfortunately people do have a habit of being untrustworthy. Sorry to hear your problems, but to be honest did not surprise me. Can you please tell me how a couple or a lady would minimise your risk of not ending in secured loan the same position. I had seen what you had done to your property and was lovely.
Perhaps I need to speak plainer, the lady that was in our house was a prostitute. That is what I meant by a working girl - very different from!!
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I like to see the best in everyone but unfortunately people do have a habit of being untrustworthy.
Yes I agree that this type of thing could have happened anywhere. My object in posting was not to impugn Morocco per se, but just to make sure people were aware of the kind of abuses that are i need a payday loan today apparenty pretty common over there. Well after many happy experiences in Morocco, this was for us, a real kick in the guts!! We felt it more deeply given that we thought we had established a good working relationship with this guy, as I say he had done good work in the past for us. In my opinion a lot of these problems will be ironed out once resort companies are put in place to manage the larger developments. If you employed a older man, he may not be able to delver and may not speak English. Yes, I understood, when a working girl means, as her profession is the oldest profession before even estate agents were invented. That is what I meant by a working girl - very different from!! I saw your concerns and yes, this can happen in any Country. In third world Countries it more prevalent due to economic disparity. I did not even know that I had humour, dry or Wet would have been a bonus.
I believe what I have is years of experience culminating into cycnicism. I did not even know that I had humour, dry or Wet would have been a bonus. I believe what I have is years of experience culminating into cycnicism. Perhaps I need to speak plainer, the lady that was in our house was a prostitute. That is what I meant by a working girl - very different from!! A very good client of mine runs a successful buy to let business in Hastings. Imagine the horror when he was asked to meet with his agent to visit one of his properties to find the whole place sealed off by a police cordon!
The house had been used by a family from the Far East who had turned it into a Cannabis factory they had installed heavy duty cable to support the phenomenal electricity usage etc etc.
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