| 1. |
Pay a
reservation fee of €2,000 (fully
refundable for the first 14
days). |
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|
| 2. |
Draft Contracts
are sent to the purchasers for
consideration. |
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|
| 3. |
If we are not
instructed in writing to prepare
the detailed contracts for
signature the reservation fee of
€2,000 is automatically refunded
and the property is released for
sale. |
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|
| 4. |
Following
receipt of the buyer’s request
to have contracts issued in line
with the draft already submitted
to the buyer, we dispatch by
return detailed contracts for
signature, at this time the
reservation fee Becomes non
refundable and is taken as part
payment towards the required
contract payment (see Below). |
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|
| 5. |
The signed sale
and purchase contract together
with the following payment is to
be transferred into our Company
Client Account within 14 days of
Clients receipt of contract.
Together with the 40% Contract
payment (less €2,000 reservation
fee already paid) to be released
on the following basis: |
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|
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|
A) |
The
first 20% payment is
released when we
have received signed
purchase contracts
back from the
developer. |
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|
|
B) |
The
second 20% payment
is released when we
have confirmation
that the foundations
for the
Apartment block or
villa are complete. |
|
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|
| 6. |
5.72% Transfer
Tax and Dominican Republic legal
fees are payable when the sub
structure (frame) is Complete,
this will start the transfer of
title process. |
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|
| 7. |
Developer lease
back or rental guarantee
commences on completion,
together with any annual free
Usage. |
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|
| 8. |
Apartment
purchasers may, by giving a
minimum of 60 days notice before
1st June each year, exit the
15-year lease back by paying off
the remaining capital element
less the number of years in the
scheme. This way there will be
no penalty for early exit. The
purchaser is free to sell this
freehold property at anytime on
this basis and will realise the
remaining value in the property. |
