Etihad Rent To Buy
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Join Date: Dec 2002
Location: U.A.E
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Etihad Rent To Buy
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
Etihad Rent To Buy scared me when I first saw it. The main reason was that if I were to loose my job I would have unwanted ties to the region. Instead I bought where I hope to retire and what I'm saving by not paying rent I use to make mortgage payments at home. Besides housing prices are very low right now in my home country.
