| The Exchange of Contracts |
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| Written by Marco Ryan | |
| Wednesday, 15 March 2006 | |
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ogether, we visited a number of possible Farm houses and restoration projects within a 10-20 kms radius of the castle. Our idea had always been to provide a range of activities and courses, but we needed to offer a lower cost option for the accommodation than a luxury hotel and Spa. We were hoping that Ed and Rebecca might be so taken with the project that they would consider setting up their B&B near us Once again we parked our cars at the foot of the hill, and made our way gingerly up the weather beaten track to the castle.
It had lost
none of its magic. The views on such a clear day were breath taking, and we
were able to wander around the remains of the courtyard, mentally planning
where we would site the restaurant, the Spa and the accommodation. Cesare had drawn up the exchange contract with infinite care and attention to detail. He read through each of the different articles that outlined the terms of the exchange, including the clause that stipulated the current owners would forfeit double the deposit plus any costs that we had incurred in the period between exchange and completion. Since the deposit was 20% of the purchase price, and we were planning to get straight on with the clearing operation, this gave us a feeling of real security. With five of us to sign and initial an array of documents, the process took some time, but soon the contracts were signed, the deposit and expense paid and we had formally exchanged on Castello dei Pecorari n for the sale was that none of them could agree what to do with the ruined castle, the atmosphere was a little tense. Cesare had drawn up the exchange contract with infinite care and attention to detail. He read through each of the different articles that outlined the terms of the exchange, including the clause that stipulated the current owners would forfeit double the deposit plus any costs that we had incurred in the period between exchange and completion. Since the deposit was 20% of the purchase price, and we were planning to get straight on with the clearing operation, this gave us a feeling of real security. With five of us to sign and initial an array of documents, the process took some time, but soon the contracts were signed, the deposit and expense paid and we had formally exchanged on Castello dei Pecorari |
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