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Completion Delay

 
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Mikey
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Joined: 20 Feb 2007
Posts: 49
Location: Birmingham

PostPosted: Sat Dec 01, 2007 1:15 pm    Post subject: Completion Delay Reply with quote

Hi Guys,

I've had unconfirmed reports (from CFG) that there has been a delay on completion. It is now expected in Aug '08, from a laymanís look at the contract this will conveniently enough take MRI to the end of their four month grace period, which when passed will mean they have to pay us compensation.

I've had no word from the solicitors or MRI, has anyone else? Can anyone with experience look at the contracts and see what it means for us?

Mike
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John C
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Joined: 22 Oct 2006
Posts: 53
Location: North Scotland

PostPosted: Sun Dec 02, 2007 5:41 pm    Post subject: Reply with quote

Hi Mikey.

Ive heard nothing. I think from what people are saying on the talk Bansko forum is that there is not much chance of getting compensation from developers for late delivery.

I just see it as an opportunity to delay parting with more cash and it also gives more opportunity for the property to go up in value prior to valuation. I certainly dont see much possibility of any income from lets during spring / summer 2008. Sad

It would be nice to have available for use during the 2008/09 ski season though! Smile
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John C

A buyer at Aspen Heights!
www.banskostudios.co.uk
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Mikey
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Joined: 20 Feb 2007
Posts: 49
Location: Birmingham

PostPosted: Sat Dec 08, 2007 2:48 pm    Post subject: Reply with quote

MRI have confirmed there is a delay.
They say its only delayed until May and so confident are they that the deadline will be met they are taking summer bookings...

We shall see, being an old cynic i am going to expect end of Aug and if i'm plesantly surprised then so be it!

P.S. they tried to flog me a furniture pack but i'll be waiting until the new year. Hopefully £/Ä rate will be more favourable after the rate cuts.
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John C
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Joined: 22 Oct 2006
Posts: 53
Location: North Scotland

PostPosted: Sat Dec 22, 2007 7:10 pm    Post subject: Reply with quote

I have just had a letter fromn Paul O'Mahony who is the Managing Director Of MRi Construction , saying that "the forecasted completion date is the end of June 2008"

Cheers and Merry Christmas to all forum members
Smile
John
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John C

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www.banskostudios.co.uk
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chris
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Joined: 13 Oct 2006
Posts: 138
Location: Cookstown, Northern Ireland

PostPosted: Fri Jan 18, 2008 11:24 am    Post subject: Reply with quote

I have got some sort of offical letter too from Mr. Paul O`Mahoney stating that ..........

"Whilst excellent progress has been made with the construction works at Aspen Heights we now anticipate that the forecasted completion date will be at the end of June 2008. "

I wonder will it be put off again at closer to that time.
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Doozer
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Joined: 11 Jul 2007
Posts: 4
Location: Ireland

PostPosted: Mon Dec 08, 2008 1:29 pm    Post subject: Reply with quote

Hi guys,

Has anyone heard anything recently about the completion date for Aspen Heights? I got a final payment breakdown last month but when I enquired as to the status of the apartments, I got no reply back. I'm now waiting for word back from lawyers and developers with an update.
The aftersales website hasn't been updated for any complex since september.

And now apparently the UBB has suspended all mortgages for non-residents too.
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Mikey
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Joined: 20 Feb 2007
Posts: 49
Location: Birmingham

PostPosted: Mon Dec 08, 2008 2:44 pm    Post subject: Reply with quote

Hi,

Apparently they are waiting for the ACT 16. They are pushing me for more money. I'm wanting to find out more from other MRI buyers. Does anyone know any forums.

I have been told (by MRI) that the previous apartment block to this, Aspen Golf has been completed and is fully booked with customers. Is this true? I am really keen to find out more before i hand over another wedge of cash.
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Doozer
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Joined: 11 Jul 2007
Posts: 4
Location: Ireland

PostPosted: Mon Dec 08, 2008 4:23 pm    Post subject: Reply with quote

Generally the forums have been very quiet.
When the rental people rang me the time, I used the opportunity to ask them a load of questions. Some of the info I was told was that;

*Aspen Heights is fully sold out,

*If we sign up to the rental we can expect maybe 6 weeks rental in the first year, predicted to double in year 2 as area gets more well known, and so on. This is what's being seen in Aspen Golf,

*Once the golf course Apts are sold out the course will open up to outsiders (this is an assumption),

*Aspen Heights should be ready for the end of the ski season - this is why I'm wondering why they're already looking for final payment. I'll be happy to pay once I see inside my apartment and it's all up to scratch.

I'm not saying all the above is accurate, but unfortunately information/updating is hard to come by lately...
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Mikey
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Joined: 20 Feb 2007
Posts: 49
Location: Birmingham

PostPosted: Mon Dec 08, 2008 8:13 pm    Post subject: Reply with quote

Yes, i'm surprised by the lack of internet presence for the Aspens.

I noticed the forums for the Aspen's dont work on 'Eyes Wide Open' which is a shame.


I have been told to give another Ä9000 by friday or they'll take my apartment from me. I've already paid 50%. Is this the case for everyone?
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