Met the Notar today to update the Grundbuch - of course, invoice to follow.
Tuesday, 31 July 2012
Monday, 23 July 2012
Week 58
Letter sent to the builder today:
"Namens und in Vollmacht unserer Mandanten kündigen wir daher mit sofortiger Wirkung den mit Ihnen geschlossenen Generalunternehmervertrag." or, in English, "you're fired".
I have no choice ... as said many times before, there is no trust in the builder's competence to finish the job, or finish it properly.
This whole experience has been stressful beyond belief and leaves a legacy effect in terms of bad memories and also permanent increase in mortgage payments and lower chance for re-sale.
Of course, the story won't end here - there is compensation to claim and a lengthy battle awaits. But hopefully one chapter is closed and the new builder can start work on finishing the vision.
"Namens und in Vollmacht unserer Mandanten kündigen wir daher mit sofortiger Wirkung den mit Ihnen geschlossenen Generalunternehmervertrag." or, in English, "you're fired".
I have no choice ... as said many times before, there is no trust in the builder's competence to finish the job, or finish it properly.
This whole experience has been stressful beyond belief and leaves a legacy effect in terms of bad memories and also permanent increase in mortgage payments and lower chance for re-sale.
Of course, the story won't end here - there is compensation to claim and a lengthy battle awaits. But hopefully one chapter is closed and the new builder can start work on finishing the vision.
Tuesday, 17 July 2012
Week 57
Last week it was more money to re-do a survey x weeks later just to confirm that indeed the builder has done nothing ... even though the builder has confirmed that he has done nothing.
In addition 7 invoices from the builder claiming for works (allegedly) done.
This week it is the turn of the lawyer to ask for more money as our contract covers only termination and not compensation or drafting a contract with the new builder - this is a nice 112% price hike.
And if course I still need to arrange a date with the Notar to update the Grundbuch - more costs.
On a positive note, met with the new builder - he will get a draft contract today and the plan is that he starts work within 2 weeks and move in date is the end of the year.
Also, the 'cancellation with cause' letter will be sent to my current builder together with a rejection of his invoice claims.
I fear it will end up in court ... but I am determined to seek compensation.
I am going to end up bankrupt with a very expensive mortgage made up of 50% in fees alone with little chance of a sale recouping my costs or of covering the mortgage from renting it out.
In addition 7 invoices from the builder claiming for works (allegedly) done.
This week it is the turn of the lawyer to ask for more money as our contract covers only termination and not compensation or drafting a contract with the new builder - this is a nice 112% price hike.
And if course I still need to arrange a date with the Notar to update the Grundbuch - more costs.
On a positive note, met with the new builder - he will get a draft contract today and the plan is that he starts work within 2 weeks and move in date is the end of the year.
Also, the 'cancellation with cause' letter will be sent to my current builder together with a rejection of his invoice claims.
I fear it will end up in court ... but I am determined to seek compensation.
I am going to end up bankrupt with a very expensive mortgage made up of 50% in fees alone with little chance of a sale recouping my costs or of covering the mortgage from renting it out.
Saturday, 14 July 2012
Week 56
My old builder (nay, comedian) has sent me a collection of invoices to the tune of EUR 124,000.
Some of the work was not done or even agreed and grossly exaggerates the work completion level.
Some of the work was not done or even agreed and grossly exaggerates the work completion level.
Wednesday, 4 July 2012
Week 55
I signed a contract with the bank for the extra 100k needed at nearly 6%, double the rate of my other loans.
And this at a time when the ECB has set record low interest rates: http://www.bbc.co.uk/news/business-18722911
So, now I need another meeting with the Notar to update some document.
Also I had to switch my bank account to Commerzbank - I got the pin number for my new card before I even signed and agreed! Also I had to take out Life Assurance. All in all about EUR 650 extra per month, sheesh.
And this at a time when the ECB has set record low interest rates: http://www.bbc.co.uk/news/business-18722911
So, now I need another meeting with the Notar to update some document.
Also I had to switch my bank account to Commerzbank - I got the pin number for my new card before I even signed and agreed! Also I had to take out Life Assurance. All in all about EUR 650 extra per month, sheesh.
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