Toubob
29th Jul 2008, 06:05
Has anyone gotten involved in the rent to buy program. I was considering Atlantis Towers when it was 1 800000 AED. It is now 2 624000 AED.
The main attraction for me was the voucher offered by the developer that covered the down payment. This has dissapeared, with the new inflated price. Also the building was supposed to be finished in Dec 09, but the last time I was on right downwind for 31 I saw no foundations for it on Reem Island.
I am beginning to think that the playing field keeps changing it's dimensions and that we where used by the developer to show investors that 100 odd stable expat pilots had signed on to purchase. They now don't need us and are changing the agreement..
So far the developer can't tell me what the maintenance fee's will be, when it will be completed and when I asked them about late completion penalties I got a blank stare and an Inshallah. They don't care but expect your payments to arrive on schedule.
Any other guys with comments, to help shed some light. I have 14 days to decide to finalize or walk away.
Cheers
The main attraction for me was the voucher offered by the developer that covered the down payment. This has dissapeared, with the new inflated price. Also the building was supposed to be finished in Dec 09, but the last time I was on right downwind for 31 I saw no foundations for it on Reem Island.
I am beginning to think that the playing field keeps changing it's dimensions and that we where used by the developer to show investors that 100 odd stable expat pilots had signed on to purchase. They now don't need us and are changing the agreement..
So far the developer can't tell me what the maintenance fee's will be, when it will be completed and when I asked them about late completion penalties I got a blank stare and an Inshallah. They don't care but expect your payments to arrive on schedule.
Any other guys with comments, to help shed some light. I have 14 days to decide to finalize or walk away.
Cheers