MSP Developments
MSPD Developments-be careful & read the fine print

We bought a flat for investment purposes in Knotting Hill, Buh-Rein Estate & put down R10 000 reservation deposit. Deed of sale was signed in October 2011. Complex was completed November 2012. We were phoned & asked for suitable date/time to do a "hand over" inspection in November 2012 to check for snags. Once inspection completed, we signed doc on 12 November & left the complex. Our tenants moved in on 23 November and bond registration was on 26 November. We were then shocked when MSPD deducted occupational interest from the date of the handover/snag list inspection and deducted this from our reservation deposit. On protesting I was summarily referred to a clause in deed of sale which I had signed a year ago. Not once did MSPD agent when we did the inspection mention the implications involved. I could easily have set a later date but wanted to accommodate him as he was so keen to complete the inspection. The handover doc is also silent on this. Lesson learned is dont trust anyone as they simply revert to a clause in deed of sale signed 12 months ago. Also, sales agent we signed with in 2011 who never informed us of this no longer works for MSPD. Also, no interest paid. Ethics!

Company: MSP Developments
Country: South Africa
City: Western Cape

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