Hello everybody,
I feel so relieved to have found some people in the same boat as me!. i agreed three years ago to purchase two apartments on MB with the verbal promise of at least 15% growth per annum !! ha ha..... You can imagine my disappointment when i find that i would have made more in the buiding society!. The first one completed two months ago and still waiting for it to be ready for the rental programme whilst the second is being held up by the swimming pool license not granted yet. The other day a representative from the developer actually phoned up to see if i could complete!!!!! saying that the swimming pool licence had been agreed but they were just waiting for the rubber stamp!... I dont think so!!!! i am waiting until everything is in order! i felt pressurised! i now need to sell the second one as soon as completed and have spoken to some agents who said that they probably wouldnt fetch much more than 235k euro which after paying over about 25k euro in fees i would come out with far less than three years ago...plus the mortgage redemption penalty to pay!!
Sorry just venting but I need to do this. Has anybody any idea about how proactively these apartments will be marketed in the travel programme?? I am starting to feel very jittery and also what recourse do we have regarding the huge hotel that now blocks the lovely sea view?
Another question ( sorry) would it be an idea to furnish the second one myself and do a long term rental instead of selling just so i can cover some of the mortgage ?
any advice would be gratefully appreciated
Thanks for listening to my whinging... :) (((