12 Feb 2008 12:00 AM:
Hi everyone
I would just like to post my thoughts about the situation myself and probably many other clients of OVP find themselves in at present.
I have taken equity out of our house to fund this INVESTMENT and am not prepared for paying mortgage payments with no end date.
I am faced with the possibility of having to down-size our house to pay this off, and maybe losing the money with OVP.(worst case senario)
I have considered all the options open to me and I do not see an easy way out. Stuart Jones told me at the meeting we had with him that his personal view was to complete on a property and then sell on as a way forward
1) OVP and the developer have our monies held in account .
2) The developer is offering apartments he can't shift at inflated prices and then asking purchasers to complete on a development which is nowhere near finished
in a location that's far from ideal for rental purposes.
3) Why even consider Punta Perla with the investigations going on there or Morrocco a site to be confirmed.
4)OVP are offering to put contracts up for sale at what ever price you consider appropriate. What chance is there of selling a contract for a property that hasn't got any possibility of the development starting in the foreseeable future ? There is at least one contract I know has been for sale already for about one year.
The developer cannot fulfill his part of the contract, he's made sure of that by proposing phase two, and also the contract is open ended anyway.
Both OVP and the developer are earning interest on our money
Colin.
would you let me know how many you are expecting at the meeting in London, although I am a little concerned it might turn into just a social gathering, I would come down with my wife if I thought it would be constructive eg.possibly instructing a lawyer etc.
PM me if you wish
David
This message was last edited by Dancing 703 on 2/12/2008.
Community thread:
A week in Almoradi - any must see's or do's in the surrounding area?
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