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Romanian off plan property

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  • Romanian off plan property

    Hi all,

    At the end of last year I went to Romania to look at an off plan development in Bucharest. I signed up and paid the reservation deposit, with first installment of 25% due in three months time. This payment has been delayed due to a change in the VAT regime. It is now been 7 months and I still havent been requested to pay it but the agent has indicated it will be due at the end of this month.

    Since the time I signed up last year to now the prices have not moved and there are still apartments in this development available.

    I am starting to get a little bit nervous that i have signed up to a bad investment and am thinking I walk away and cut my loses before risking anymore money.

    Does anyone have any opinions on Romania and should I have expected a price shift since the developement was initiated?

    many thanks,

    Nicko

  • #2
    Speak to your lawyer. They will advise you.
    If you had no lawyer then get one. And get your agent to refund your money if you used one. from the developer.
    If you need a lawyer go to Chambers and Partners a free legal guide you can find on the internet type in google chambers and partners and choose one that deals with Romania. All are good. Good luck.

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