Complaint Review: Trump Ocean Club Panama - Closing Documents that DISCOURAGE Owners from Closing!

SIGN OR DEFAULT- ARE THESE YOUR ONLY OPTIONS?

TRUMP HOTEL CONDO AGREEMENTS.SIGN OR DEFAULT- ARE THESEYOUR ONLY OPTIONS?

Thank you all for recently contacting solutions@trumpownerspanama.com during this difficult time. The response has been VERY encouraging, however the chord of your comments has unilaterally expressed  shock and awe.  

Justifiably so. Remember we must have help from owners to seek out and contact all other owners, informing them about our web site. Without a 100% united front Trump has beaten us.  

We need your contact information and suggestions. Unfortunately these mandates are not  agreements by any definition, and their exploitative content extinguishes any remaining hopes that your business partners at TRUMP ever intended to be fair or reasonable with you.

They simply  wanted to use your money to build the Hotel and now they reward you with a non negotiable ultimatum to  sign up to commit to pay all the expenses as well as assume all the financial risks to run it.

Even if you bought low, and own outright your investment wont pencil out. If you have a mortgage you better pray for full occupancy. In a town where the average (CAM) Common Area Maintenance charges are $2.00 or less a square meter, theHOTEL CONDOS UNITS  will pay $35 per square meter for (CAM)  or SEVENTEEN TIMES the going rate. 

This pilfery is typical throughout all 130 pages of the new documents. The original 9 page contrat had none of this. All new non negotiable one sided terms with the immediate threat of default and losing your deposit, default being clearly an acceptable risk on their part. 

Most owners are becoming aware that they have been naive, lured in by the best glossy marketing machine, and now face many broken promises, such as the failed delivery of the  casino, marina and beach club. Opening is in 3 days. 

Then, at the last possible moment, owners were sucker punched with these non negotiate unacceptable mandates, agreements  that have been long requested from Trump, and answered with one lie and  excuse after another for years. 

The last minute delivery was necessary so they could  threaten and execute  default and implement heavy interest penalties for not signing.  This is devious and unethical.

Again Trump has victimized his investors not rewarded them.This appears to be the norm for this organization lately. Baha, Soho, West Palm. 

TO CLOSE OR NOT TO CLOSE THAT IS THE QUESTION. The consensus seems to be, particularly by those street wise in Panama, that there is little hope in for the Panamanian  legal system to sort this out, certainly within the allotted time frame.  

If  default is filed it could be a mess to undo. This is a nasty piece of premeditated partnership betrayal that Trump has choreographed.

One astute legal suggestion was to offer all the funds at closing, offer to sign the deed, but refuse to sign the agreements. If they decline to take your closing funds, you may have your lawyer document this in court, and deposit the closing funds into a court escrow account, to be held until the differences are resolved. Trump will likely file your monthly charges as liens against you. You may have to pay all that to get it out of escrow if Trumps arguments prevail, to get  a clear deed. 

Legal suggestions are still being formulated but thus far this is the only one that seems feasible. OWNERS MUST UNITE FOR A NEW AGREEMENTWE NEED THE HOTEL CONDO OWNERS LIST It appears to be the only way.

Contact the owners you know or think you know and have them get involved. There need to be contributions and suggestions daily on this forum that has been  set up for you the Trump  Hotel Condo owners. Hopefully we can use this website to organize a united front. NO ONE COULD POSSIBLY APPROVE OF THIS AGREEMENT AND OUR UNIFIED GOAL  IS TO DEMAND  A NEW MANAGEMENT IN FORCE. 

It is a safe bet there will be a major revolt of non compliance once these excessive charges are actually billed  to each owner that has closed.  This revolt may include the developer who must sign and pay all  these agreements for all his unsold and defaulted units and there may be lots of them.

We want him on board for a new agreement demand as well. After a full weeks research one thing is for sure; if we do not get the majority of condo hotel owners to stay in contact through this web site, we will have little chance of any success at all. 

Do your best to circulate this web site and information to whom ever you can. We also believe there is realistic hope after closing of demanding a new agreement, once the threat of default and interest penalties have been removed. 

JUST THINK IF NO ONE SENT IN ANY MONEY FOR FEES!We are working on a new management agreement which we jam down their throat as a group once the threat of default has passed.  But we can only do this is we have all the owners united.

Signed

Trumpownerspanama