HI ALL HAS ANYONE BOUGHT OR HEARD OF AQUA RESIDENCE PYLA GIOVANNI DEVELOPER ALLEGEDLY COMPLETING APRIL 2012 BOUGHT THROUGH ROP UK APPEAR TO HAVE GONE TO THE WALL CAN ANYONE PLEASE HELP GETTING DESPERATE
Work stopped on this site back in December. The site has been locked down ever since. I pass by every day and nothing is happening there unfortunately. I have some photo's of the present siuation at the site should you want them, my previous employer was supposed to involved in the maintanance/handovers, this is now not happening.
Hope this helps
HI havent been on for a while aqua residence not going ahead because alpha bank are no longer providing mortgages as properties are not same value as 3 years ago when original plans began. developer now looking to charge a further 7 percent cost so another 20 thousand and nothing to show for it. this nightmare isnt ending.Have heard peter mccormack and kevin a former director of rop uk are supposed to be in cyprus in the next few days to try to sort things out. Im coming out to cyprus in July to try and sort things out for myself. any advice anyone can give would be really appreciated thanks maureen
REGARDING MORTGAGES I SPOKE TO BANK ON THURSDAY THEY STATED NO MORTGAGES BEING RELEASED AS PROPERTY IS NOT SAME VALUE AS FIRST SOLD ALTHOUGH I MUST SAY BANK STATED THEY WERE IN TALKS WITH DEVELOPER. I WAS ALSO OFFERED A TRANSFER TO ANOTHER PROPERTY BUT I COULDNT CHOOSE THEY TOLD ME WHAT I COULD HAVE AND HOW MUCH I WOULD HAVE TO SPEND NOT THE BEST WAY TO DO BUSINESS I WPOULDNT HAVE THOUGHT
IM WITH YOU ON THAT ONE TALKS SUPPOSED TO BE GOING ON J UST NOW LETS HOPE WE GET A POSITIVE OUTCOME EMAIL FROM DEVELOPER CHARGING A FURTHER 7 PERCENT OF PURCHASE PRICE WHAT A CHEEK BECAUSE FUNDS HAVENT BEEN RELEASED. THERE DOESNT SEEM TO BE ANYTHING OUT THERE PROTECTING US. EX FINANCIAL ADVISOR SAID HE WOULD HELP LET ME DOWN AGAIN NOT ANSWERING CALLS HE WAS SUPPOSED TO GET A LIST OF ALL THE BUYERS 100 OR SO STILL HAVENT HEARD ANYTHING LEGAL ACTION SEEMS TO BE THE ONLY WAY
We too are in the same position as many, we have been told that the payments have been witheld from giovani. We signed up in 2008 with an estimated completion date of Sept 2011, I don't think this is likely to happen, Im in the frame of mind that this is going to be a disaster whatever the outcome, I'm for getting out and hopefully my money back.
There is never a day when I do not think about this situation, something drastic needs to be done, we all need to obtain everbodies details who are in the same position, I have a friend who bought property in Spain and the same thing happened, he eventually got his money back. Let's stick together and demand action, anybody else feel this way !
This is very worrying as Giovani is one of the biggest developers in Cyprus.
We run a group Property In Cyprus Action Support Group (PICAS) set up to help people with property problems. You no longer need to feel alone. Membership is free. Our next meeting is on 29th June in the Dhekelia Leisure Centre 2.30pm (Watch our site for further details)
Come along and get free legal advice and use us as a platform to bring your fellow purchasers together.
Although it would be great to transfer to another property in order not to lose deposit the deal would have to be really good and I doubt that very much I was offered a transfer but on developer terms they chose the property I was offered an apartment which was smaller and more expensive than a 2 bed 3 bath semi villa on same complex when I asked about this I was refused. I doubt its for our benefit these are properties the developer hasnt sold its a buyers market now Ideally getting the money back as its now become a holiday home from hell would be an ideal solution.
Perhaps some of the following will help.
Info supplied by Steve (forum owner)
It sounds like the place I had a meeting with - I know he does help
many people but not sure on the mis-selling and the other details.
Lakis Ioannou - 99 570930
Here is what I wrote about him at the time:
Lakis is a Cypriot chap who has worked in London at various CAB (Citizen
Advice Bureaux) offices before returning to Cyprus. With a legal background
he operates a CAB office in Larnaca - recognised and with funding from the
EU. To clarify this is not a Citizens Service Center but an office that
runs just like the CAB in the UK helping, over the years, thousands of
people with a range of issues relating to their rights. Trying to fight,
where necessary, the various levels of government and in many cases winning.
He has been an advisor to presidents of Cyprus and been offered various
ministerial positions in various political parties which he has subsequently
Unfortunately I don't have an email address but with the number above you
should be able to reach them - they have an office in the centre of Larnaca.
Although I am not a legal expert I would think that if your contract has been lodged with the land registry then neither the developer or yourself can alter the contract unless both parties are agreeable to the change.
To check your contract has been filed at the Land Registry complete Form N50 The buyer could separately also visit the Land Registry and complete a N50 search form (with English translation. To obtain a copy of the N50 Form go to the Cyprus Property News site and put in a search for Form N50.
Complete the form and take it with your Contract of Sale and your passport to their office.
They will check that your Contract has been lodged and give you a list of all of the other owners.
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