Georgia, you gonna be on the telly?

As you may know from a previous thread 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 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 inperspective 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 if you could ask around, or perhaps someone moving out there would like an Investment apartment to look after whilst residing in Formentera? I look forward to anyone that can help. Thanks Jason

Hi Jason which apartment and which block (floor back or front is it on) it does sound a good deal.l would go for it as l have one in the Brisas del Mar block over the road very handy.l will ask around and see if anyone is interested.Regards Pat. 

Hi Pat

Thanks for responding to both posts.

It is in Block 5, First Floor, apartment F - 2 bed, 2 bathroom, underground Parking, Fully fitted Kitchen and Fully Furnished.

Thanks very much for your help.

Jason

Hi Jason l will let everyone know that is interested in the area.As l see it if its due for completion end of June with the 3 months to complete ,it gives you until the end of Sep (plus any delays) so hopefully people will see they have about 4 months to raise the money/finance to buy this apartment. Regards Pat.

Me again

I have had no interest so far so if anyone wants to make me an offer less than the £5,000, just let me know.

Thanks

Jason