Real Estate problems

[Fernandez]

when purchasing real estate in the DR, it is wise to purchase under a corporate veil for various reasons. In the unfortunate circumstance that you might have to litigate, the corporate entity that owns the Dominican property and/or holds a contract under attack can sell the litigaton rights to a USA Delaware corporation which you can own outright.
This will then allow you to sue the Dominican entity you are fighting in a USA Court-
there are a variety of caveats to this scheme, however, it is a useful tactic when confronting those who prey on foreign investors.

[Jumbo]

Canadian Company ???????????????????

farawayrealestate.com


168.144.248.42
Record Type: IP Address


OrgName: Softcom Technology Consulting Inc.
OrgID: STCI
Address: 10 Bay Street Suite 816
City: Toronto
StateProv: ON
PostalCode: M5J 2R8
Country: CA

NetRange: 168.144.0.0 - 168.144.255.255
CIDR: 168.144.0.0/16
NetName: SOFTCOMTCI
NetHandle: NET-168-144-0-0-1
Parent: NET-168-0-0-0-0
NetType: Direct Allocation
NameServer: NS7.SOFTCOMCA.COM
NameServer: NS8.SOFTCOMCA.COM
Comment:
RegDate: 1994-05-13
Updated: 2005-03-02

RTechHandle: TY12-ARIN
RTechName: Yustein, Tony
RTechPhone: +1-416-957-7400
RTechEmail: tony@softcomca.com


Please delete if this is not properly posted or violates DR1 ethics.

[Ladybird]

This company is not a Canadian company, It is run by 2 Russians, I have had a reply from the 2 businessmen that own the project in Cabarete they show on the photo on their website, the "office" in front you can see on the photo was sold by them to the 2 Russians some time ago, this is a quote from their email, so other buyers beware. I cant find any other office in Cabarete for this company'

"we sold the property of the office of costa azul to them, but its not working anymore. i have the information that they sold this property too to some russian investers, and also that it is usual practice of them, to not give back deposits."

[kdeer]

I have also dealt with Faraway Realestate and they are not Russian. It is a husband and wife team from Poland...at least that is what they told us. We have also had trouble with them. Timely if you would like more information on this and the name of a Lawyer who has already been involved please PM me.

[Ricardo900]

Originally Posted by Chip

In the US at least it is standard practice for a earnest money to be placed in escrow in order for a property to be taken off of the market for the purpose of due diligence and negotiatons. Typically, there will be a deadline where a portion or all of the funds may go "hard", ie no refunds are given. This is standard business practice and I would expect the same here in the DR.

Wouldn't that info be in the contract they signed? And if so, the terms of the contract was violated if the allotted time given for cancellation has passed, so no money would be refunded as per signed and notarized contract. If there was a contract to begin with, which I hope there was because $25k is a lot to shake hands on.

[Chip]

Originally Posted by Ricardo900

Wouldn't that info be in the contract they signed? And if so, the terms of the contract was violated, so no money would be refunded as per signed and notarized contract. If there was a contract to begin with, which I hope there was because $25k is a lot to shake hands on.

That was what I presupposed might have happened, but unfortuantely it appears the OP did all that with a handshake - a very tough lesson indeed.

[faraway]

Hello to everybody, we are the Far Away Real Estate company and are willing to face everything, good and bad, what people are telling about us. But before we start few things needs to be clarified:
Regarding the condo purchase in Punta Cana, we have sign agreement legalized by the lawyer and Public Notary from Higuey: Dr. Elias Lopez Sanchez, which stipulated the condition both sites agreed to close this particular case, and agreed with the solution and obligated them self to keep confidential.
We assume those post are created mainly create by our clients, former friends Ela Z. and Kevin from Canada, which in fact is clean violation of the existing contract and includes alot of incorrect facts:
The 25K was the down payment for the condo, not a deposit.
Our agreement was different from what they describe, we've been ask by our former friends to help them in purchase of the condo in Punta Cana. They had only 25K for the condo which had market value 175K cash.
On their request we made arangment with the developer and got him to accept to sell this condo to us by 150K cash. We agree with our former friends to let them leave in our condo for 6 months and they agreed to purchase from us later on for 175K, which is still market price on the moment of attending in to negotiations.
To back up this transaction we agreed to receive 25K as a down payment for their future purchase, let them leave in our apartment for 6 months, and they obligate them self to complied 150K payment after 6 months period. After oral agreement we place written offer of purchase to the Developer agent, with depositing the reservation fee.
After that we place the paperwork to the lawyer at Guzman Ariza lawyers office in Bavaro, with the request to process the due diligence and prepare the funds on our account to pay for the transaction.
The 25K was paid voluntary by our friends as agreed, against the written payment confirmation with the stamp of our company/ not the handshake as they described/.
The lawyer aware us of risk in such transaction to let people leave in our apartment just after initial 15% payment, mention to us the cost and very complicated legal process of releasing the property by them if they will not leave voluntary / usually it takes one to one and half year for such case, is expencive and in many cases needs to be taken to court/.
As a broker we know all this but were willing to help our friends.
We confirm our interested to the lawyer and let him process all the paperwork. We request the lawyer to investigate very carefully the status of the paper, specially the Title status, since it is a new build condo, without finished process of subdivision and refundation.
With been ready with the payment 150K and wait for the green light from the lawyer to release the money.
In the meantime our friends contact us and want to cancel the transaction. We told them that this is not possible because the case is very advance, and the lawyer are to complied the paperwork.
On the beginnig of January they place the demand at Fiscal in Bavaro and claim the down payment under the condition that following apartamnet is sold and we are not able to purchase it as agreed.
This wasn't true. The apartment wasn't sold on that time.
This brought our friendship to the end. We couldn't belive the way they act and haven't trust them anymore.
To finished this case on the legal level we hire the lawyer, which create the agreement.
Both sites agreed to what stipulated in the contract, the couple got 15K back, we cover all the legal fees and expences related to this uncomplied transaction.
This case give us hard lesson which cost us the friendship.
We have all the documents we are reefering to in this post, the contract signature by our friends and legalized by the lawyer and public notary closing this case, confirmation of receiving by them 15K from us, all the corespondation and confrontation related to this case, the lawyer correspondence from Guzman Ariza office, and are willing to face every accusetion regarding our former, current and future business.
But we are not willing to sit quiet and let people write whatever they want, without consequences.
For this we work to hard and don't let anybody destriod our reputation by some anonymus forum members.
For their information we are taking this case up to the lawyer, which will fallow the legal consequences for breaking up our agreement.
We will demand them for violating our confidentail agrreement and causing us lost image.
We request the DR1 moderator to contact us imediatly and take this thread down to avoid continue exposure us and our company Far Away Real Estate S.A.

Regarding the office in Cabarete, we have legal contract of purchase for this office and the land belong to it, legalized by the Public Notary Dr. Pedro Messon Mena on the 10th of March, 2006. We purchase this office in beginning of 2006 and recently sold to our Russian client /contract legalized/. Those "two Businessman from Cabarete" are two Germans which own us still VCA S.A. company from the purchase made on the 10th of March, 2006. Until now this company is not delivered, thought it was paid 100% and the contract was legalized. What we have is only the VCA S.A. share-holders book with 66,6% of the shareholds, the 33,3 are still missing and since over two and half year they haven't complied with the purchase.
We hope this explanation gives everybody clear feedback of that what happens, and what could happen all around in todays world between friends.
Our goal in the business and way of leaving is to stay away of what people say and hear, keep what agreed no matter if oral or written.

on behalf of Far Away Real Estate S.A.
owners
Iwona and Rafal Lesniak

[faraway]

Hello to everybody, we are the Far Away Real Estate company and are willing to face everything, good and bad, what people are telling about us. But before we start few things needs to be clarified:
Regarding the condo purchase in Punta Cana, we have sign agreement legalized by the lawyer and Public Notary from Higuey: Dr. Elias Lopez Sanchez, which stipulated the condition both sites agreed to close this particular case, and agreed with the solution and obligated them self to keep confidential.
We assume those post are created mainly create by our clients, former friends Ela Z. and Kevin from Canada, which in fact is clean violation of the existing contract and includes alot of incorrect facts:
The 25K was the down payment for the condo, not a deposit.
Our agreement was different from what they describe, we've been ask by our former friends to help them in purchase of the condo in Punta Cana. They had only 25K for the condo which had market value 175K cash.
On their request we made arangment with the developer and got him to accept to sell this condo to us by 150K cash. We agree with our former friends to let them leave in our condo for 6 months and they agreed to purchase from us later on for 175K, which is still market price on the moment of attending in to negotiations.
To back up this transaction we agreed to receive 25K as a down payment for their future purchase, let them leave in our apartment for 6 months, and they obligate them self to complied 150K payment after 6 months period. After oral agreement we place written offer of purchase to the Developer agent, with depositing the reservation fee.
After that we place the paperwork to the lawyer at Guzman Ariza lawyers office in Bavaro, with the request to process the due diligence and prepare the funds on our account to pay for the transaction.
The 25K was paid voluntary by our friends as agreed, against the written payment confirmation with the stamp of our company/ not the handshake as they described/.
The lawyer aware us of risk in such transaction to let people leave in our apartment just after initial 15% payment, mention to us the cost and very complicated legal process of releasing the property by them if they will not leave voluntary / usually it takes one to one and half year for such case, is expencive and in many cases needs to be taken to court/.
As a broker we know all this but were willing to help our friends.
We confirm our interested to the lawyer and let him process all the paperwork. We request the lawyer to investigate very carefully the status of the paper, specially the Title status, since it is a new build condo, without finished process of subdivision and refundation.
With been ready with the payment 150K and wait for the green light from the lawyer to release the money.
In the meantime our friends contact us and want to cancel the transaction. We told them that this is not possible because the case is very advance, and the lawyer are to complied the paperwork.
On the beginnig of January they place the demand at Fiscal in Bavaro and claim the down payment under the condition that following apartamnet is sold and we are not able to purchase it as agreed.
This wasn't true. The apartment wasn't sold on that time.
This brought our friendship to the end. We couldn't belive the way they act and haven't trust them anymore.
To finished this case on the legal level we hire the lawyer, which create the agreement.
Both sites agreed to what stipulated in the contract, the couple got 15K back, we cover all the legal fees and expences related to this uncomplied transaction.
This case give us hard lesson which cost us the friendship.
We have all the documents we are reefering to in this post, the contract signature by our friends and legalized by the lawyer and public notary closing this case, confirmation of receiving by them 15K from us, all the corespondation and confrontation related to this case, the lawyer correspondence from Guzman Ariza office, and are willing to face every accusetion regarding our former, current and future business.
But we are not willing to sit quiet and let people write whatever they want, without consequences.
For this we work to hard and don't let anybody destriod our reputation by some anonymus forum members.
For their information we are taking this case up to the lawyer, which will fallow the legal consequences for breaking up our agreement.
We will demand them for violating our confidentail agrreement and causing us lost image.
We request the DR1 moderator to contact us imediatly and take this thread down to avoid continue exposure us and our company Far Away Real Estate S.A.

Regarding the office in Cabarete, we have legal contract of purchase for this office and the land belong to it, legalized by the Public Notary Dr. Pedro Messon Mena on the 10th of March, 2006. We purchase this office in beginning of 2006 and recently sold to our Russian client /contract legalized/. Those "two Businessman from Cabarete" are two Germans which own us still VCA S.A. company from the purchase made on the 10th of March, 2006. Until now this company is not delivered, thought it was paid 100% and the contract was legalized. What we have is only the VCA S.A. share-holders book with 66,6% of the shareholds, the 33,3 are still missing and since over two and half year they haven't complied with the purchase.
We hope this explanation gives everybody clear feedback of that what happens, and what could happen all around in todays world between friends.
Our goal in the business and way of leaving is to stay away of what people say and hear, keep what agreed no matter if oral or written.

on behalf of Far Away Real Estate S.A.
owners
Iwona and Rafal Lesniak

[Robert]

We request the DR1 moderator to contact us imediatly and take this thread down to avoid continue exposure us and our company Far Away Real Estate S.A.

Why would you post a long response detailing your side of the story if you wanted us to remove the thread? That is counter productive to your business and reputation. Your asking us to censor the board, is that what you really want?

You have done the right thing, you gave you side of the story and it shows Far Away Real Estate S.A. in a positive light. You had the last word and the thread can now be closed. That's the professional way top handle these types of accusations against your business.

Trust me, after 10 years and 600,000+ posts and a few law suits, you learn the best way to handle these types of threads/situations.

If you have any questions, feel free to PM me.