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Wednesday, May 30, 2007
7jason
Parcela
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As you may know from a previous thread in another section I am needing to sell the property due to an Investment opportunity I have at work.
I have asked many agents and they tell me it really is not the right time to sell as prices have fallen, although they do expect a sharp recovery in 12 Months.
I genuinly cannot wait this long and really do want to avoid any extra costs that I will incur due to the fact that when I complete I will need a Mortgage and you probably all know the added costs that a Mortgage bring - at the end of the day these places are bargains (Mar Y Sol - Formentera Del Segura) if you are going to live there or can afford to sit on the Investment for a couple of years - neither of which suits me anymore.
I bought for 106,000, the vat on this is 7,420 therefore bringing the purchase price to 113,420
At the outset I paid a deposit (not including the crazy fee I paid Palmera Properties) of 14,552
This leaves a balance of 98,868 or £67,000 in English Money
The 14,552 euro deposit I paid is of course only part of the costs I have incurred so far - Including paying my lawyer up front! I am offering this apartment to anyone who wishes to buy now i.e. before I complete (aparently due end June/July) for £5,000 this will give me back only a third of what I have already spent but would enable me to avoid having to take out a Mortgage and look to Let the property.
To put it in perspective this would mean someone would get this apartment, fully furnished and ready for possession in a Month or so for around £72,000 taking advantage of what I have already paid and the excellent exchange rate that is currently available.
Also my Lawyer has done a lot of the legal work and would be happy to do the work needed for anyone buying off me at this stage for a discount.
I would be grateful for any advice
I look forward to anyone that can help.
Thanks
Jason
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02 Jun 2007 3:14 PM
cgedwards
Parcela
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Please can you tell us where the property is?
And as much detail about it as possible? THanks
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02 Jun 2007 6:44 PM
7jason
Parcela
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Hi There
Its in Formentera Del Segura - 5 mins drive to the beautiful Guardamar Beach.
2 Bed, 2 Bath with Balcony off main bedroom and living room.
Underground Parking, and communal pool on roof.
Fully furnished and fully fitted kitchen.
On first floor (middle of three) apartment F .
Alongside an Orange Grove.
Builder is Palacios Mar.
Anything else you want to know just let me know.
Just so you know I ave asked Georgia to help sell it also.
Thanks
Jason
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02 Jun 2007 7:31 PM
morerosado
** EOS Superstar **
I'm in Somerset, UK / Guardamar Del Segura on the Costa Blanca
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"Alongside an Orange Grove" 
We were lucky as we bought knowing what was opposite us, more houses same as ours  We bought fully knowing that but there have been many orange groves on our urb ripped out recently & we are currently waiting to see plans of what's going to be built on the land. Ruined the beautiful urb we bought on & the smell of all those oranges was hypnotic. Owners opposite these groves are tearing their hair out over it but I think it was ever likely the groves would be sold off.
Good luck with a sale asap, Jason.
Kind regards,
Rosemary
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