i have purchased one bedroom from the Land and am just re-evaluating whether to sign the suprise new contract that has appeared after 2 years after signing the original contract. now the unit is finally completed, 18 months after completion date, i am blackmailed into signing this new contract which is ALL in UDC's favour. UDC is in control of everything, including the body corporate, owners associaton, who i sell to, etc but has no legal responsiblity for anything. i am suppose to sign this. the contract is unbelievable and i am amazed others have signed it. if i dont sign it i dont get the deeds and lose the money i have already laid down and be sued by the bank for defaulting. i think its called blackmail in the real world. why should i sign for something i dont agree to again??? eventhough i am buying from the Land, once the handover happens UDC is in control of everything, so i will probably be in the same position as you tin tin. i am amazed that there is no formal expat owners group organised and i am interested in joining up with other expat pearl owners to at least cry on each others shoulders, if not actually have the power to do something. no wonder investment in the development is so slow, who would want to sign such outrageous contracts?
and i agree, the developoment is still a building site, my adjoining apartment has generator running loudly 24/7 and there are no supermarkets, salons, etc so it is still a construction site. i hear you tintin loud and clear.
i have purchased one bedroom from the Land and am just re-evaluating whether to sign the suprise new contract that has appeared after 2 years after signing the original contract. now the unit is finally completed, 18 months after completion date, i am blackmailed into signing this new contract which is ALL in UDC's favour. UDC is in control of everything, including the body corporate, owners associaton, who i sell to, etc but has no legal responsiblity for anything. i am suppose to sign this. the contract is unbelievable and i am amazed others have signed it. if i dont sign it i dont get the deeds and lose the money i have already laid down and be sued by the bank for defaulting. i think its called blackmail in the real world. why should i sign for something i dont agree to again??? eventhough i am buying from the Land, once the handover happens UDC is in control of everything, so i will probably be in the same position as you tin tin. i am amazed that there is no formal expat owners group organised and i am interested in joining up with other expat pearl owners to at least cry on each others shoulders, if not actually have the power to do something. no wonder investment in the development is so slow, who would want to sign such outrageous contracts?
and i agree, the developoment is still a building site, my adjoining apartment has generator running loudly 24/7 and there are no supermarkets, salons, etc so it is still a construction site. i hear you tintin loud and clear.