13 Jun 2008 9:19 PM:
Yes we did the same thing and I fully agree with Cos. It was a bit of a time consuming process (2 months or so in our case) but the guarantee worked like a charm once we elected to exercize it. We hesitated for a couple of months but after a site visit in early April we saw that all the work was stopped. We could not get any details. Finally when we managed to get thru to someone from sales office we were told that Interlaken's plan was to complete a couple of more advanced buildings then put all others on hold until market picks up. We were also told that when the apartments would be completed the prices would be "readjusted". That sounded strange because we were not sure that the prices of current buyers would be revised as well.
Sure enough, when we elected to exercize the guarantee our solicitor told us that Interlaken was offering us to retract our decision if they would offer us a "discount". We had then moved on, so we declined.
So best of luck to all of you guys more patient than we are. I agree with Cos that the fundamentals have not changed, it is a superb location and will be great in a few years. Also a Cos, I will be happy to entertain any separate request for further info,
Community thread:
mortgage approval
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