Budimex Murano development (central Warsaw) Phase I

Hi,

In actual fact I've done nothing whatsoever.

Curiously, Budimex are now offering everyone a discount for early payment proportional to how early (i.e. before 27.05.09) it is made.

Not sure why. I'm really just waiting to see what happens.

I am also interested in renegotiating my contract with Budimex but am afraid that they will not agree on lowering the price....talked to them last week and they said that renegotiating the price is totally out of the question. I am now seriously considering withdrawing from the contract....which means loosing 10%. Does anyone know if there is a possibility of them returning at least part of the 10% deposit?

I would like to answer for the post below:

"Check to see if your contract has a valorization clause within it. Some of the largest Polish developers have this. A decision by the Polish consumer protection board just before christmas may give you some ammunition if your contract contains this."

Budimex doesn't have a such clause but JWC has but i manage to get rid of it from my purchase contract after 3 months battle.

Regarding reducing the price. One of my customer got offer from Budimex that they will reduce the price when he pay 90% earlier. Now we are applying for the loan. if you all are interested in negotiating the price i looking forward to help you.

I can speak with developer and negotiate discount but also I will help you with the loan.

Hi Please call / contact me asap have property with developer. Would really like to speak with you

Hope to hear from you very soon
Thanks Caroline

I am another unfortunate PS client with a Budimex investment in Warsaw (Berberis).I dont think i will complete but would like to see if Budimex are willing to reduce the price or give a white finish with a furniture package?

Perhaps a group of people would like to get together and talk to Budimex.

Very interesting this thread. I think that is always a bit difficult to renegotiate a contract, but worth trying. Due to my plans which change from an investment in Cracow to Warsaw (and vice versa) daily I would like to know what a valorization clause means...please, help an unexperienced half-baked!

Has anyone succeeded in their negotiations with Budimex in getting their deposit ( or part of ) back ?

I really don't think this is a possibility. They're under no obligation to give us something for nothing.

However, my estate agent in Warsaw (warsawproperties.pl) tells me that they are prepared to be lenient regarding the timing of the 85% payment for the Murano development. If any buyers experience delays in raising the required capital (due to the current very tight mortgage market) that cause them to miss the end of May deadline then, in all likelihood, Budimex will not charge interest for late payment.

Fair enough, I suppose.