Wednesday, 24 January 2007

Purchase Procedure info from Property Borders

Simply ring Property Borders and advise us of your chosen property. A holding deposit is required to take the property off the market and fix the price. This can be paid by Visa/Mastercard or in some circumstances a cheque.

The holding deposit is fully refundable for a period of 30 days, unless by prior agreement. This will give you sufficient time to visit Morocco to view. If you cannot visit during this period you will be expected to make your holding deposit definite, i.e. non-refundable. Alternatively, if you decide not to proceed your deposit will be refunded in full.

Once you have paid your initial holding deposit and confirmed that you wish to make your deposit definite, our associates will forward to you a contract setting out the conditions of purchase. The balance of your deposit is then paid to the relevant developer. Please note that contracts are only issued when initial deposits are made on a definite basis.

What happens after this stage will depend on which development you have purchased on. Some developers require no further payments until completion, whilst others request periodical payments whilst building is ongoing (ask us for further details)

Upon completion you will sign the mortgage agreement with the lending bank (only if taking the mortgage) and pay the closing costs (approx 5% of the total price in Morocco).

At this point you will receive the keys and the property is yours. Our associates will be on hand to assist you throughout the transaction - alternatively, if you do not wish to visit Morocco to complete, Power of Attorney can be given to your allocated lawyer who will arrange the completion on your behalf.


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