Contract of Sale

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PSS00F
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Joined: 30 Apr 2018 21:49

Contract of Sale

Post by PSS00F » 30 Apr 2018 21:52

Hi,
Can anyone confirm if a Contract is breached when the date on it has passed? That is, if the contract states full payment will be made on or before (a specific date), and full payment is not received by that date?
Thanks



Nigel Howarth
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Re: Contract of Sale

Post by Nigel Howarth » 01 May 2018 14:34

Hi PSS00F and welcome to the forum.

If you fail to meet your contractual obligations then you will be in breach of contract.

Virtually all of the contracts I've seen the vendor will add interest if payments are not made by the agreed date. Also, when buying off-plan, payments are usually made based on the progress of the construction not on specific dates.

What is your situation?

Regards,


Nigel Howarth
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PSS00F
Posts: 5
Joined: 30 Apr 2018 21:49

Re: Contract of Sale

Post by PSS00F » 02 May 2018 10:44

Thanks Nigel,
I was supposed to have received all funds from the sale of my apartment (according to contract) by 23 March, this has still not occurred. I have received most of them, but my solicitor is not helpful. I don't know what to do?
Any comments would be appreciated.
Many thanks,



PSS00F
Posts: 5
Joined: 30 Apr 2018 21:49

Re: Contract of Sale

Post by PSS00F » 05 May 2018 13:22

The new owners have taken residence before all fees were paid and without my being told.
I have no idea when they were given the key (I have requested this information), but not had a response.
It's just shambolic



Nigel Howarth
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Re: Contract of Sale

Post by Nigel Howarth » 05 May 2018 15:09

If you are still in Cyprus I suggest you visit your lawyer. If not, phone him.

It can take a few weeks to ship money out of Cyprus as the Central Bank needs to record it. (But you say you've received most of the money?)

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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Pantheman
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Re: Contract of Sale

Post by Pantheman » 07 May 2018 03:25

You need to come to Cyprus and go to the police and report a theft. Your lawyer is most probably screwing you over sorry to say.
Transfer of money takes a few days only.
Good luck.


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PSS00F
Posts: 5
Joined: 30 Apr 2018 21:49

Re: Contract of Sale

Post by PSS00F » 08 May 2018 18:50

Many thanks to you both for your comments.
I feel completely exhausted and hopeless.
I now just want out and quite honestly will make a point of recommending to anyone/everyone I meet to steer clear of Cyprus!
I cannot now seem to get the money from Bank of Cyprus, who are asking for a bank in this country to sign and verify a letter from me asking to transfer funds! Needless to say, the banks here in UK are unwilling to sign or verify anything.
Oh dear



PSS00F
Posts: 5
Joined: 30 Apr 2018 21:49

Re: Contract of Sale

Post by PSS00F » 09 May 2018 11:14

Hi,
Once again thanks for your comments.
My lawyer is not responding regarding my complaints (completely ignoring them) and I am now receiving bills for maintenance, from EAC and the Municipaity for services that the new buyers have used!
My problem now is getting my sale funds to the UK from the Bank of Cyprus (as per my last email).
Does anyone have any idea why BoC want me to write a letter (signed and verified by any UK bank) instructing them to transfer the funds to an exchange company?
I have tried two banks and none will do this.
Many thanks



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