List of Authorised Developers
Crown Residencia (C-21)is being sold by two real estate agents , both are telling that the payment to be made for Crown Residencia which will be developed by "Fortune Group". Is this Fortune group authorised by R-Holding to Construct building on C-21 ?
What is the relationship between Crown Residencia-Fortune Group- C21
Can anyone provide a list of Authorised Developer/Plot Owner for various plots in the Emirates City?
It is general trend that the contract (sales-Puchase) is signed by Owner (seller) and the Purchaser. Is there any provision that this contract to be authenticated by Ajman Government/Land department?
Any comment on these enquiries will highly be appreciated
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Usually, in such master
Usually, in such master developed communities, the master developer, which is in this case R-Holdings builds on some plots and sells others to other developers. These developers sell the units to be developed off-plans and sign Sales and purchase contracts with customers. These contracts are not guaranteed or witnessed or registered by any authority. In comparison, Dubai that is pioneering the rest of the Emirates in the freehold legislation, will soon start registering the sales and guaranteeing them through the escrow law that was introduced recently. However for now in Ajman, any one who is buying from any developer is taking a risk and the only thing that can be used is the past track record as there is no guarantee or guarantor.
Risk factor when buying directly from the developer
I have just booked a villa in Uptown Ajman Project from Sweet homes, As per djamel05's comment I agree that there are no gurantor nor any gurantee when buying from developer or their Agent.
How ever we havebeen led to believe that there is a personal gurantee of the ruler of Ajman in case of Paradise Lake Towers and also AJman Uptown. Can any one please confirm ?
Lee