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A unique company specialised in snagging property in many countries.

Thursday, 16 July 2009

More on Cape Verde

Serafina, our exotically attractive Marketing Director suggested we spend a few days with the boys on Cape Verde "checking things out".

Now, normally adverse to such mad junkets across the seas, we decided that perhaps this was a good idea to do a Cape Verde update and meet with all the relevant powers that be from Tecnicil.

Now we wanted to address a couple of ongoing concerns that have been raised by clients.

Surrounding Areas

The surrounding areas of Vila Verde Santa Maria are the pool and gardens and road areas around each block or community. Now it is fair to say that these areas are not finished although we have seen workers on the site - our photo here showing one of them!

Tecnicil say that these areas will be finished off in the order of the original completions per community. Should you sign title deeds with these areas as they are? Should companies like Snagging Overseas sign an apartment off with the areas as they are?

The short answer is yes, not only that, we should and we have to. Why? We have studied the promissory contract and it is very clear that the compleiton of the surrounding areas is NOT linked to the contractual completion of the property. Now this may sound like we're nit picking but imagine if we advise you not to complete on the grounds of there being no grounds (Sorry, couldn't resist it) and you then lose your investment because you have fallen into breach of contract. Where would we be then? Liable.

As it stands, we sign all units off that are complete in and of themselves. We do not make any pronouncements regarding the surrounding areas because we do not want to risk, even in the smallest way, that someone misinterpret this and use it as a pretext not to complete.

Water and Electricity

You may remember that we had received an ssurance from Tecnicil that they would correct any defects in the electrical and water installation. As a result we have been unable to test any of this and do rely on Tecnicil's assurance to be able to test once everything is connected.
Now there seems to be some delays with connecting not just individual apartments, but the resort as a whole. Tecnicil tell us that the infrastructure is in place and that it all works and the ball is now in Electra's court, Electra being both the water board and the electricity board (Not Jennifer Garner, unfortunately...).
Who's to blame? Difficult to say taking into account the multitude of players and complexity of laws involved - With normal conveyance processes a habitation licence is issued only after water and electicity inspections have been passed. In Vila Verde Tecnicil have the habitation licence though appear to be waiting for the utility licences! Africa eh?! You do not get that with Barret and Wimpey!
Now we don't want to get involved in who's to blame here and should underline one important difference between Europe and Cape Verde: in Cape Verde a habitation licence CAN be legally issued even if the water and electricity is not yet connected. It is enough that the installation is complete to gain the licence.

Saturday, 11 July 2009

Snagging Portugal

With so much going on in our new territories, especially with investors and second home buyers in Dubai, we have tried to return focus to Portugal in our Blog. This is where it all began, after all. So forgive of us if you think we are neglecting you, it's not the case, we are just distracted but will resume more Portugal news as soon as possible.