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Saturday, September 22, 2007
AstroJill
Parcela
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The place sounds great.
Is it?
Cheers,
Jill
PS You lot sound really friendly.
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22 Sep 2007 8:41 PM
AuntieEm
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I'm in Scarborough
I've made 418 posts
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Hi Jill, dont know the apartments, but someone in here will! Where are they located?
enjoy the forum
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22 Sep 2007 8:50 PM
Candyfloss
Villa
I'm in Cardiff / Mar Menor
I've made 1140 posts
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Hi Jill,
 .
Ask away....................... BTW where is Mar y Sol?
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22 Sep 2007 9:13 PM
Pat and Roy
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I'm in Hertfordshire. UK. Princesa Letizia IV, Formentera, Nr Rojales, Costa Blanca
I've made 440 posts
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Hi Jill, is it the Mar Y Sol at Formentera, we have looked at them they look very nice and it is a lovely area.  Good Luck Pat
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22 Sep 2007 10:51 PM
morerosado
** EOS Superstar **
I'm in Somerset, UK / Guardamar Del Segura on the Costa Blanca (Completed April 2005)
I've made 4557 posts
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Hi Jill
 Eye On Spain
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Hello-o-o  I'm a  
Hey, I blog on EOS now. Go read it !
Our experiences of buying in Spain
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22 Sep 2007 11:35 PM
leema
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I'm in Washington Tyne & Wear -Coto Real Duquesa
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Thought all this was going in the bucket club!!!!!!!!!!!!!!!!
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Maureen & Dennis
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22 Sep 2007 11:39 PM
morerosado
** EOS Superstar **
I'm in Somerset, UK / Guardamar Del Segura on the Costa Blanca (Completed April 2005)
I've made 4557 posts
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All I did was welcome a new member, Leema. Do you have such a problem with that ?
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Hello-o-o I'm a
Hey, I blog on EOS now. Go read it !
Our experiences of buying in Spain
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23 Sep 2007 12:06 AM
Candyfloss
Villa
I'm in Cardiff / Mar Menor
I've made 1140 posts
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This is getting very silly now!!!!!!
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23 Sep 2007 12:12 AM
nfm2862
Villa
I'm in Welling, Kent & Al Andalus Thalassa, Vera
I've made 1132 posts
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Couldn't agree more!
When Justin removed the "bucket" thread from the last 20 posts, that solved the issue that everyone was moaning about.
However, if the "bucketeers" want to use their pictures & glitter within a response to a question or as part of a welcome message - what is the problem?
Come on everyone, a bit of compromise never hurt!!
Noreen
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www.verathalassa.es
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23 Sep 2007 12:29 AM
Candyfloss
Villa
I'm in Cardiff / Mar Menor
I've made 1140 posts
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Well that's probably another member that won't want to bother again,
I suggest pm's in future for comments that are relevant.
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23 Sep 2007 8:30 AM
AuntieEm
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I'm in Scarborough
I've made 418 posts
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what a good idea Gina
If anyone seriously objects to my "signature" or avatar (as those are the only pictures or glitter i am posting outside of the bucket thread) please PM me .... and i will respond appropriately
This message was last edited by AuntieEm on 9/23/2007.
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23 Sep 2007 8:50 AM
AstroJill
Parcela
I've made 11 posts
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Thanks, Pat - yes, it's at Formentera.
Our agent is telling us that they have come up for sale on completion because the interest rate's gone up and folks are backing out. He says that the builder's giving them their money back - and we don't have to put any dosh down for a year - on a 100% mortgage with cash back as well.
It just sounds too good to be true and we're wondering what the catch could be.
Thank you all, too, for your welcoming posts.
Jill
PS It's 'Astro' 'cos I do astrology -so in theory I ought to be able to work out the answer to my own question, eh?
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23 Sep 2007 9:04 AM
rowlandsbb
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I'm in Macclesfield Cheshire >>> Huercal Overa
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Looks like the builder is having problems
Good developments in general do not have to offer give away terms and 100 % mortgages
All built in to the price.....just like guaranteed rentals!
However, if you do your research and make sure that everything is in order and you really like it , then it may just be the life style change you are seeking
And if you are paying too much now, and/or have a few problems in time it may turn out OK....and of course you would have had lots of enjoyment
Buying a holiday home or even part/full time is not just about making money.....it's about life style change
But if you are buying as an investment , only go for the best developments
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Brian Rowlands BSc FRICS -Chartered Surveyor & Overseas Property Agent
View my profile on www.myspace.com/brianrowlands
e-mail rowlandsbb@aol.com
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23 Sep 2007 9:27 AM
AuntieEm
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I'm in Scarborough
I've made 418 posts
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Gosh Jill ... you are right ... either that is a great opportunity or there's a catch ... the tricky bit is finding out which! A bit of research needed
I am very interested in what you are saying so will send you a PM
Hope all goes well for you
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23 Sep 2007 10:38 AM
Pat and Roy
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I'm in Hertfordshire. UK. Princesa Letizia IV, Formentera, Nr Rojales, Costa Blanca
I've made 440 posts
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Hi Jill, yes it is where I thought it was their is a couple that write in on here that have actually bought on that complex they might be able to help you more. I would love to know who the agent is, it does sound to good to be true but perphaps that's what has to be done at the moment. If so go for it as I said it is a great are and a lovely village, we are down the road to you we came back in April since then a few more shops have been opened so I have been told and a few more bars.  Well please keep us all informed sounds very good. Pat
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23 Sep 2007 10:45 AM
patpur
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I'm in Castle Bromwich Birmingham/Almoradi and formentera del segura south costa blanca
I've made 272 posts
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Hi Gill that sounds very good, l have an apartment under construction at the moment on the Brisas del Mar blocks just in front of the Mar y Sol apartments, they are being built by the same builder (Palacios Mar) He (they have a good reputation) he has several finished projects in the area and they all seem of a very good standard,no probs with licences etc They have a proper built office in Formentera (not a porter cabin) l will be popping in myself when l am over 1st 2weeks oct auntie em l will try to find out more for you, so far l have found them to be good to deal with.unlike my first apartment in Almoradi (another Story). Gill have a word with lrene and Alan who bought one in March (l think) l have spoke with them and they are very pleased with there apartment.Regards Pat.
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23 Sep 2007 10:49 AM
AuntieEm
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I'm in Scarborough
I've made 418 posts
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Thanks Pat, that would be great
We are going over on Tuesday, but we are still getting to know the area, so probably wont be able to find anything we are looking for! LOL
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23 Sep 2007 10:58 AM
patpur
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I'm in Castle Bromwich Birmingham/Almoradi and formentera del segura south costa blanca
I've made 272 posts
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Hi Auntie Em l will be following out next sun it is hard sometimes to see and do everything you plan to as events take over.Gill will you be going out to look around the area and speak with the builder etc. Auntie Em the weather has improved .Pat.
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23 Sep 2007 11:03 AM
AuntieEm
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I'm in Scarborough
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thanks Pat ... I will take the jumpers and balaclavas back out of the suitcase!
I cant wait to have a place out there to leave a selection of clothing and then i wont worry about what to pack!
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23 Sep 2007 12:09 PM
semijubilada
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I'm in London/Torrevieja
I've made 451 posts
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You're right to do further research as this deal does sound to good to be true.
I'd be dubious about taking out a 100% mortgage in the current climate and with cash back you're over paying from the start. I'd rather have that money taken of the outstanding balance of the mortgage or is supposed to help with the buying fees.
It would depend on your circumstances and also whether you are happy to stay in this apartment for some time. If not then a few years down the line you could find yourself with a large debt if you sold it.
I did a lot of research before I started searching for a property and around the same time as Britain went into a recession Spain suffered as well. The properties were halved in value and stayed that way until the Euro changeover and a lot of black money was used to purchase property. I was looking around this time and couldn't believe how much property had gone up each time I went back over to continue searching.
We had to re-mortgage our house here in UK speculating on my husbands inheritance, when we went for our interview with the mortgage advisor I insisted he give me a forecast for what the repayments would be if interest rates rose to 8% (what I considered to be the worse case scenario at the time)
I suggest you do the same and as long as you can comfortably afford it then go ahead if everything works out ok. You'll also have to factor in the yearly bills and some apartments can have large community bills in the first couple of years until the community is up and running.
Life in Spain is good as long as you walk into it with both eyes open and I'm sure you'll find your dream property even if it doesn't turn out to be this one.
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