Bermuda Views Capital Call Notice
If you have received a Bermuda Views Capital Call Notice from developer Innovation SEZ Developers then you should read this post. This is essentially a demand notice from Bermuda Views’ developer and, for many owners, it has largely come out of the blue. The development was in a state of suspended animation for some years. Improving markets in 2013 meant that a lot of developments in Dubai which had been put on hold once again became feasible. So developers have started up the machinery again and bills like this one have started to arrive in the post. It appears quite a few of these Bermuda Views Capital Call Notices were sent out in February and March 2016. For an example of how these letters look scroll to the bottom of this post.
Bermuda Views was widely promoted in the UK and Ireland in the mid-nougties so there are a lot of owners in the British Isles. Quite a few of these either don’t wish to, or are not in a position to, complete at this time. If you are in this position, don’t worry. Here at SellDubai.co.uk we specialise in Selling Dubai property for those who no longer wish to complete the transaction. We can find a buyer for your property, even though it is not yet complete. The Bermuda Views development is, according to Innovation SEZ completing through phases allowing the developer demand further payments as per contract.
Quite a few purchasers have written to the developer looking for refunds of the money already outlaid in order to get out of the contract. This has never happened in our experience. Innovation has never returned money to anybody. The only way to get a return from this investment at this stage is to sell on the contract as it stands or pay for the property up to completion and take your chances with selling it at that stage.
At the moment we have no idea when completion on Bermuda Views is likely to be or what value will actually be on the properties when they do complete. Dubai property prices 2016 are not showing great promise so far, but this does not mean that prices will not recover at a later stage.
Here at SellDubai.co.uk we have a large database of end users, landlords, investors and institutional property buyers looking to make an offer on your Dubai property right now. You can list your property with a local agent but it could be on the market for many months, if not years. If you wish to sell your property quickly then SellDubai.co.uk may be able to offer you alternative options. Drop us a line now on info@SellDubai.co.uk.
Bermuda Views Capital Call Notice – Sample Letter (note: this sample is for Eagle Heights, but is essentially the same as the notice sent out for Bermuda Views)