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james ensor · Last edited by james ensor on Mon May 19, 2008 9:47 am; edited 2 times in total

Some owners at Djadsal Moradias, Sambalal Village and Vila Verde report that they may shortly be receiving much delayed escrituras on the completion of their properties. Djadsal building A is finished and some flats are let at low rents. Sambala flats are also completed in the first group of buildings but there are no reports of occupation as yet. Vila Verde and Paradise Beach are not far off completion. So the issue of compensation for late delivery is being raised by owners of some properties.

As you might expect Cape Verde law which follows Portuguese law and is basically a form of Roman law is very precise and prescriptive on this issue.

The Compromesso de Compra e Vento lays down a completion date on which the Escritura giving full ownership should be signed.

If it is not in fact signed within six calendar months of the specified date interest payments are due on the total amounts paid at an annual rate of about 7%. So if the escritura is provided eighteen months late on a building which has cost 100,000 then 7.000 will be due. The charge accumulates as simple interest on a daily basis.
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James Ensor Moderator of the forum and one of the architects of www.capeverdeinfo.org.uk

david morris · Expert Joined: 16 Jun 2006 Posts: 117 Location: spain

Life is not perfect,i can not help thinking if you are happy with the place you bought,and you are home and dry so to speak,id forget about getting your knickers in a twist over compensation ,etc,stress for nothing,the point is you have your apartment,,,voila,,,,,forget about the delay,,,its ,,its africa,,its life,,it doesnt matter,,you are not going to die because its a few weeks late ,,,,,,,nobody is perfect,,,dm

Claire Hunt · Posted: Thu Apr 03, 2008 11:47 am Post subject:

You are getting into the swing of it .......! For those who may have borrowed money and are not getting any return, late completion is not good for the cash flow. But if you have enough to forget, then I agree, there's not a lot one can do and showing you are unhappy with the delay will delay it even more. We have been waiting a year now for shutters on our house and on each trip if we make some small progress then we are happy. On the last trip two sets were put up, but just before we left, so I need to go back sometime soon to oil them.
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Claire - one of the architects of www.capeverdejetaway.com and villa owner.

Mikee · Expert Joined: 22 Jan 2007 Posts: 206

William Robinson · Expert Joined: 30 Dec 2006 Posts: 267

Well from 2008 as in the above postings, not a lot has happened, other than CV law is shown to be a shambles. Solicitors despite all efforts are helpless against developers. All the developer has to do is not reply and there is nothing you can do about it, everything stops dead....

Take Tecnicil on Vila Verde, used a clause in the contract to sell the apartments (the double back your money guarantee) then just ignores it, leaving buyers sucking their thumbs as to what to do next. You can't go to Court as its also in the contract all and everything is sorted out by arbitration. Yet dispite that Tecnicil have prevented this from getting into arbitration, with rather silly excuses like “we can't find an arbitrator”. 2 years on…..

This is making a mockery of the law in CV, and begs the question will anyone buy there in the future with a contract thats worth nothing when it comes down to it.

The only ones gaining from those long delays are the management whom despite not having money to complete, still draw huge wage packets from the company !