The SELECT thread...

[Qasim786]

Originally Posted by Free Time

Is this just the deadline for getting signed stuff and payment back to them or do we also have to physically take possession of property by then as well?

Where has this 30days come from. I must have not read my paper work properly.
My documents came through the post on Thursday last week.

[hawki]

Hi All Today i received my account by e-mail as many of you have: With regard to outstanding fees for OGOOD ( i paid the 1% reg fee back in May 2009)

There is also an admin fee of 3000 drms which select are demanding. Just to clarify please anyone, is this their charge to register the property on my behalf (£500)!!!!!!!!! Is this why some of you went out to Dubai to deal with this yourselves? If this is the case I would estimate that less than 10% could have visited to register

Select have probably invoiced over £300,000 for registering these apartments alone!!! WHAT A TOTAL RIP OFF have they no shame after all the distress and calculated deceit they've put their customers through!

Can one person come forward on this thread and tell me that they would be a repeat customer to these crooks!

[torchowner]

Originally Posted by ab31

Regardless of what you do about the addendum, don't let Select get away with it .The more of you that write to Tony Hetherington, the more chance we have of him grasping the true picture and driving a stake into the heart of the vampire that is Select

Amen to that. Better driving a stake into the vampire that is Select than eating a lot of garlic!!!

[Beppe786]

cant you register the property yourself at the land department and save 3000 drms select are charging?

[Dubai_Steve]

Originally Posted by Qasim786

Where has this 30days come from. I must have not read my paper work properly.
My documents came through the post on Thursday last week.

Its on the original contract.

[Dubai_Steve]

Originally Posted by hawki

Hi All Today i received my account by e-mail as many of you have: With regard to outstanding fees for OGOOD ( i paid the 1% reg fee back in May 2009)

There is also an admin fee of 3000 drms which select are demanding. Just to clarify please anyone, is this their charge to register the property on my behalf (£500)!!!!!!!!! Is this why some of you went out to Dubai to deal with this yourselves? If this is the case I would estimate that less than 10% could have visited to register

Select have probably invoiced over £300,000 for registering these apartments alone!!! WHAT A TOTAL RIP OFF have they no shame after all the distress and calculated deceit they've put their customers through!

Can one person come forward on this thread and tell me that they would be a repeat customer to these crooks!

The actual fee is AED 1000 if you pay in person now, it went up from 295.

So Select charge a 2000 admin fee.

Think yourself lucky, apparently Cayan charge AED 5000 so are even bigger crooks.

Welcome to Dubai.

[Joannides]

Originally Posted by Dubai_Steve

The actual fee is AED 1000 if you pay in person now, it went up from 295.

So Select charge a 2000 admin fee.

Think yourself lucky, apparently Cayan charge AED 5000 so are even bigger crooks.

Welcome to Dubai.

i thought only developers could register it. is this NOT the case?

[Qasim786]

Originally Posted by Dubai_Steve

The actual fee is AED 1000 if you pay in person now, it went up from 295.

So Select charge a 2000 admin fee.

Think yourself lucky, apparently Cayan charge AED 5000 so are even bigger crooks.

Welcome to Dubai.

It's just a big circus out there, full of crooks not clowns

[Dubai_Steve]

Originally Posted by Beppe786

cant you register the property yourself at the land department and save 3000 drms select are charging?

Not sure.

http://www.oqood.ae/PublicSite/English/AboutOqood.aspx

Perhaps the fee covers training etc.


Dear Developers,

We are pleased to announce the release of a new version of OQOOD!

All developers who haven’t yet attended any of our training sessions on the new OQOOD, are highly encouraged to attend one of our coming sessions scheduled on the following dates:


Tuesday, 15/03/2011, from 10:00 AM to 01:00 PM
Tuesday, 29/03/2011, from 10:00 AM to 01:00 PM


The above training sessions will be held at the Dubai Land Department, Second Floor, Room No.205.

Once you attend the training session, send us an email and request for your username and password.
Use your new credentials to login to OQOOD and verify your data. For this purpose, use one of our detailed reports “Project Elements Report” to list all the properties under your projects.
The report will show you the details of each property along with the current owner.

[scoobudubai]

Originally Posted by Joannides

i thought only developers could register it. is this NOT the case?

You can just turn up at the land registry and pay it, no admin fee as far as I'm aware.

We went there in May 2009.

[chelseaboy]

Any info on the recent OA meeting. Gone very quite hope all went well. Hope we are not still stuck with Select.

[Morrismarina]

Originally Posted by Dubai_Steve

Not sure if this contradicts schedule 11 at the end of the original agreement which contains a form of prepayment notice which allow for over payments or early settlement at a reduce figure per the LPP pre-payment table. After submitting this notice with payment, the seller must give a revised payment schedule or confirm full satisfaction of buyers obligations.

However, should Torch Select sell on the LPP (allowed under the addendum and looking likely) then this schedule 11 may be invalid as it is directed to Torch Select specifically. However, the financial entity taking over the LPP may also allow for over payments or early payments but this is not guaranteed.

Originally Posted by MANUTD

I had a customer for my POINT property BUT SELECT WOULD NOT transfer LTPP -- LOSt MY CUSToMER THEN _ but still rented out !!

Well that's it then !! It's clear to me from the above that by signing the Addendum you will no longer be able to sell your property on to a buyer by transferring the LLP to them. Also, if you wish to sell your apartment you must pay off the balance on your LLP in full, in other words the full purchase price, the early repayment table in your contract no longer applies (otherwise it would be stated in the above clause).

Essentially Rahal Aslam is applying extortion and blackmail tactics. Clearly he is looking to securitise the outstanding debts on the LLP by selling them on -this means selling them on in bulk to a buyer just like lenders sell on blocks of mortgages. By revising the terms of the contracts (illegally !!) to a more favourable position whereby the full purchase price is payable and there is also no ability to transfer the LLP he will achieve a much higher price for the sale of the contracts.

Also if you for example you experience financial difficulties you cannot avail yourself of the problem by selling your unit without paying a massive amount to clear the LLP, which is going to be unlikely if you are short of cash. Even if you can do this, your sale price will be current market value so you will have lost a small fortune !! And more than likely your apartment as well if you don't have the funds to repay the LLP in full.

And even if one LLP payment is missed your contract already states you lose the ownership of your apartment with SG keeping 30% of the full purchase price as per your contract terms.

I stand to be corrected but this is how I see it. You need to think very carefully before signing the Addendum. This needs to be referred to RERA and if they're not interested perhaps referring to Sheikh Mo himself. Business cannot be conducted in Dubai, or anywhere in the World for that matter on this basis.

Has anybody spoken to Select Property to see whether they say about all this ? Surely they can't be happy abaout it all as they will no longer be able to sell any resale units on the LPP.

[Dubai_Steve]

Looking at the LPP early pre-payment table.

If I was to pay off the LPP now (before signing the addendum) I would have to pay 706k

If I was to pay the full amount owing (over the full length of the 10 years remaining) I would have to pay 948k

That is AED 242k extra or about £42,000 more

[Dubai_Steve]

Originally Posted by vaksa

DIFC Courts back couple over delay to luxury flat

"An Irish couple have won a Dh1.7 million (US$462,850) refund on an apartment they bought in 2004 after a unit of Damac Properties failed to finish it on time.

The case could become a precedent for buyers in buildings in the Dubai International Financial Centre (DIFC) free zone, which is regulated by a different set of laws than the rest of the emirate."

http://www.thenational.ae/business/p...to-luxury-flat

The torch is being delivered 3 years later than per contract.

[Leshall]

What everyone must realise is that individually anyone with a complaint will be on weak ground. Doubts will set in and you will feel pressurised into signing away your rights. DO NOT DO IT. It is important that as owners in The Torch we get together and form an Owner's Group. We will be stronger and be in a better position to challenge Select. Does anyone have any idea on how to do this?

There is absolutely no basis within the Torch Contract that allows the developer to force unfair conditions upon you. You have rights (albeit limited)and you must protect them.

If you have fulfilled all of your obligations, if you have paid on time and in the correct amounts then you have fulfilled your obligations under the contract. You do not have to sign the First Variation Addendum and Select cannot force you by refusing to hand over the keys until you do. That is duress and even under the UAE/Dubai law that is illegal. If you still feel committed to sign then sign and add the words "Signed Under Duress" you might be lucky if things go legal by relying on this. If the First Variation Addendum is not signed the Courts will not consider it. If it is signed with the above qualification they will consider the qualification. If you do not sign it the Courts will not consider it.

This whole development has been a fiasco. How many months late? The building was, according to my contract due to be complete on or by 30 June 2008. We have now been told that handovers will commences from 1 May 2011. I make that 34 months late. The majority of which they have blamed on so-called Force Majeure. Very useful that phrase. But what is Force Majeure? Force Majeure is an event that neither party to a contract could prevent, i.e. an Act of God, that causes a delay to the contract period and as a consequence neither party is liable to the other for damages and/or costs. Does Force Majeure cover the fact that they chose to add 6 additional levels to the structure. Does Force Majeure cover then fact that they had problems with getting approval from the Dubai Authorities before the launch and they failed to tell us at the time we signed the contract?

We received a letter from them dated 29 January 2009 in which they stated the "key reasons" for the delay where:

Traffic Impact Study
Additional 3rd Party Reviews
Emaar Regulations
Re-checking designs
Green Environment
Civil Defence

I wrote to them on 8th February 2009 requesting further particulars but they refused to answer. Unfortunately I cannot attach the letter but should any of you wish to have a copy email me at les.h.hall@gmail.com and I will forward it to you.

To win this it is important that we all unite and act together.

[Dubai_Steve]

Originally Posted by Free Time

Is this just the deadline for getting signed stuff and payment back to them or do we also have to physically take possession of property by then as well?

The contract states handover must be between 20 and 30 business days after notice. A 10 day window only UNLESS both parties agree otherwise. So if you agree to delay completion with them you can. If they do not agree (ie. because you threaten them with legal action etc.) then you miss the window and potentially loose all rights to your apartment

[Dubai_Steve]

As business day is defined as any day other than Fri, Sat & Sun in the contract. I make the legal completion & handover window (without agreeing otherwise with the developer before hand) to be May 5th to May 24th.

[Dubai_Steve]

Originally Posted by Leshall

If you still feel committed to sign then sign and add the words "Signed Under Duress" you might be lucky if things go legal by relying on this.

Interesting idea, but I suspect they may refuse the documents and ask you to sign without that!

[Leshall]

I am getting seriously concerned about these tales of deceit and coercion. We like many of you have received Selects Completion Notice and First Variation Addendum. However, our addendum seems to concentrate on the change of Apartment number. There are two worrying points. Firstly, they have incorporated a Buyer's Release that releases and discharges the Seller from any liabilities or ongoing obligations and that we have no right to claim compensation. Secondly, we must sign this addendum and return it to facilitate the handover of our apartment. Which in short says "Sign it or no apartment". Maybe we are fortunate but I don't see any other amendments to our original contract. Maybe some-one can highlight any others.

In the meantime I will be seeking legal opinion of my own regarding what I consider to be sharp practice and the duress that Select have attempted to employ. I will post any feed back that I get.

One further request, how many Torch owners are there reading this website? Can we organise ourselves into a group to take on Select?

[Leshall]

Originally Posted by Dubai_Steve

The contract states handover must be between 20 and 30 business days after notice. A 10 day window only UNLESS both parties agree otherwise. So if you agree to delay completion with them you can. If they do not agree (ie. because you threaten them with legal action etc.) then you miss the window and potentially loose all rights to your apartment

I'm sure that this is bluff, but can we risk it? We need expert legal counsel?.