SELLING OUR APARTMENT MANILVA BEACH

Hi All,

We are having to sell our apartment on Manilva Beach due to financial problems the very wonderful ovp properties have left us in.They owe us 187000,00euros and as you all know  we are having to fight like everyone else through the courts to try and get our funds back .

It is in Block B  1.3 on the front facing the sea,it is furnished etc and we are asking for 160000€

Unfortunatley the dream ovp  promised us all has not transpired and left us in serious financial difficulties , when i tried to explain  to an employee  of ovp the situation we were there words were "dont pay mortgage for 3 months the bank will reposess"  well we really do not want to go down that route so we are just asking  back what we owe the bank.

If anyone may be interested please contact us

TEL 0044  121 706 0545

ELTONIA

This message was last edited by eltonia on 2/5/2009.

Good Luck !  I hope that the market has improved since my wife and I tried to sell last year.

We encountered financial difficulties the early part of last year and so decided that as we were struggling to service our mortgage commitment we would try to sell our first floor ( Phase 1, pool view ) apartment at Manilva Beach. We invited various agents out to value the property and whilst they were all most complimentary of the apartment ( we had the Ocean view furniture and air-con package ) they explained that the market was tough but the general opinion was that we should get around 180,000 euro's.  As we had nothing to loose as far as fees were concerned we appointed all three agents in March of last year, well after months of anguish and worry ( and several false starts from people that couldn't arrange a mortgage ) we eventually agreed  a sale at 141,000 Euros,( Fully furnished ) drastic I know but we were desperate to sell having pumped over £15,000 out to Spain just to keep the mortgage going since we completed in August 2006. ( with the cost of the IVA, Solicitors, furniture pack, aircon etc we estimate that this property has cost us around 220,000euro's)
 
We experienced nothing of the "dream investment" that Ocean View had promised, instead we have been left with a huge debt and bitter sweet memories of a lovely development in an idyllic location that we loved. Unfortunately for us the nightmare is not yet over because although the sale was finalised last September we still have to pay back all the money borrowed to put down as the initial 40% deposit and then lost!  Nevertheless that won't stop us re-visiting the area again in the future as we really do love it! Obviously no-one could anticipate that the market would crash, but I think that we trusted Ocean View too much with their projections of potential income that clearly wern't possible. I just wish there was a way that we could claw back some of this money from Ocean View but I think that I more chance in winning the the lottery tonight.

Hi everyone

I know everyone is struggling with mortgage payments and maybe considering handing their keys back to the bank but I just wanted to say that it isn't all doom and gloom.

The exchange rate on the Euro has really affected us personally and I made an enquiry to my bank to see what could be done. The reply was as follows:

Our current mortgage is €970 a month but if the interest rate goes down as predicted then it will be €675 - a saving of over €300. The exchange rate is also improving slowly, it was 1.09 today so if it continues to steadily get better this will also help with the real cost of the monthyl mortgage payment.

Hownow

i'm very sorry to hear about your OVP dream???.  We refused to complete due to massive breaches of contract which would have resulted in the apartment being worth about half what we paid for it. And that was before the credit crunch.  It looks like it was the lesser of two evils. Short of a miracle we have still  lost a fortune, thanks to OVP, Aifos, the first lawyers, and  the hopeless lack of  speed of justice for victims of fraud in Spain. Had we completed on the apartment which was approx 50% smaller than stated size in our contract, we would now have lost at least as much if we had to sell now.  On top of that we have had years of worry/stress about losing our life savings.

It's a no win situation for many cheated.

Yes, we too have to sell our properties and I have one at Manilva Beach - two beds, first floor, overlooking swimming pool and ocean.  All completed - no furniture and willing to accept E170K or negotiate.  In America so you have to dial 001-478-474-1952.  Ours is an end unit and so has a huge patio on two sides which makes the living space even larger. Call for further info or pics which we have.  E-mail carol_frayne2@bellsouth.net