| The Comments |
Hey Anita,
You need to have me on the payroll, leave it to me, I will find out and post withing a few hours, you are entirely welcome of course, the more information we can all get regarding our investments the better.
Ciao
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** EDITED - Please respect terms of posting or will disable your ability to post on this forum ** This message was last edited by EOS Team on 3/18/2008.
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CRG
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I know that i'm just an ordinary forum member but you guys that are posting all these commercial posts, please go away and spend some money with a proper advertising agent and leave us alone. It's hard enough to keep track of a thread without all your Bumph !
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 Steve (Lifestyler)
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Lets get back on track.....Anybody going out to Corvera over Easter. Perhaps an update from the sales team and a few piccies?
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Steve (Lifestyler)
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Hi Steve,
I agree totally with your sentiments. Often, its been the excellent posts and photographs on this site that have helped lift my spirits about Corvera - unfortunately, can't say the same for information from Corvera, MRI and their recommended solicitors etc etc. I do welcome balanced opinion, though. Negative posts are also good as they keep our eyes open about this development. Commercial posts can take a hike!
Ash
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Hi Steve, I've not made many posts but have to agree with your post and the replies it's recieved. Also I too have found this website to be of more use and assurance than all of the organisations involved in the purchasing process. I have recently emailed MRI, their 'independent' solicitors ( everytime I say 'independent' it makes me either laugh or cry!!) and direct to Corvera. The answer I recieved from all three was the stock 'scripted' one, absolutely no relevant information whatsoever. However I still think that in 5 years time when l look back at all of the uncertainty and deceipt that has surrounded the development I will be glad l stuck it out. I found the posts and advice given by Maria L. de Castro (look her up on the Roda thread on EOS) to be most interesting, as they contradict a lot of what the above mentioned 'bodies' put out.
Steve Chaffe ( Duplo Tilo on Phase 2)
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Hi all
I've purchased two phase 2 apartments at Corvera, and have paid the 7% IVA on the 30% deposit, can anyone tell me if this is standard practice? Should this not have been delayed until completion? is this not when the government would want it? The reason I'm asking is that I'm considering selling one of them and I believe that if I sell it, the person I'm selling it to will also have to pay IVA on the same 30% (and the apartment has not been built), this does not seem right. Also who has the IVA money now, has it already been paid to the government or are the lawyers holding it?
Also can anyone reccommend an agent to sell the property through, I'm considering using murcia golf properties who appear to be big on resales in the area, if anyone has any experience with them I would appreciate a PM on how you found them or alternatively reccommend another agent.
kev
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Kev
We paid the iva on our deposits at the time.
I thought that you cannot sell your property on phase 2 until you have completed on the apartment? Is this not in your contract?
Regards
Jp
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Did you buy through MRI? We were being advised to buy 2 and take on 2 mortgages - it was made clear to us at that time that we would have to set the mortgage up before selling 1 of them because that site could not be sold off before completion so we did not go ahead as it was too much of a risk of being lumbered with hefty repayments.
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Hi, We were told by MRI that we could sell before completion when we bought our apartment on phase 2. Since then we found out that MRI don't want to know about it until 6 months before completion and other estate agents can't sell before completion because they aren't licensed.
John
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Hi
Thanks for the replies, JP although I bought on phase two, I have been reliably informed that I can sell before completion ( and states so in the contract), apparently some can on phase 2 and some can't, there is a cut off date ( I'm not sure what it is).
Twofish, I have heard that some agents will not resell apartments more than six months before completion as the developers would not be happy with the competition, as they would still be trying to sell their apartments on the same development, so they have come to this ' 6 month arrangement' (although this is not true of all agents). The agents would argue that it is because it is more difficult to sell more than six months before the completion deadline.
dedgley, I ended up getting 2 properties, although I wish now that I hadn't, I'll just have to make the most of it, I will attempt to sell one soon as I will be trying to ensure the repayments are manageable, (I would expect rental income to be very poor for the first couple of years until all the facilities are online). I was told at the time that if I bought two, I would easily sell one and make 20% after a year ( surprise, surprise that didn't happen), but to be fair you have got to expect a certain amount of exageration ( shall we say) from commision based agents, and it's a lesson learnt, a lesson which would not have been needed if I had done my homework right. That being said If I went back in time and had to choose a development again I think I would still choose Corvera as it still looks like it will be an excellent, good value, quality development.
kev
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Kev2. I agree with you that Corvera will be a quality development, but good value ? As the Euro continues to strengthen against the pound heading towards parity I will be paying 10's of thousands of pounds more for it than I thought 2 years ago. Add this to the plummeting property prices in Spain and the probability of no rental for a few years then it becomes a great place to live but not to invest in.
Dave
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Dave, don't be disheartened. We still have at least a year to go before completion of Phase I. Things may have changed unfavourably for us recently but it happened over a very short period of time, in that same very short period of time things to go back in our favour.
Anita.
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Anita just where do you get your positivity from ?
Please bottle it and sell it to us (sterling please) for all us nervous purchases out here having sleepless nights!!!!
STRESSED OUT CAROLE
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Carole
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The ECB (European Central Bank) are expected to cut interest rates in the second half of the year. The fact that they haven't so far is what is depressing the property markets across Europe right now. Spain has been one of the hardest hit countries. I would expect that the housing market will start to stabilise towards the end of the year, as interest rates fall, so waiting to within 6 months of completion to try and sell your " extra" investment property might not be such a bad idea. Also...if ,like me ,you bought towards the end on 2005, the deposit you paid was at an exchange rate of about .67 pence to the Euro. it is now .79 ...so that means in sterling terms your deposit has gained 18%..not bad. Also i spoke to Pablo y/day, and he said Corvera would value a 205k ground floor 2 bed Tilo on Phase 2 at 225/240k depending on position. I know this doesn't mean too much as it isn't a firm bid, but it does mean that Calidona aren't "bottling it" and cutting their prices. I agree with previous posts that the quality of the development will mean this is one of the most coveted in years to come, and prices will eventually reflect this. But in my line of work "no-one gets fired for taking a profit" is also a good maxim to remember. regards Chris.
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The ECB (European Central Bank) are expected to cut interest rates in the second half of the year. The fact that they haven't so far is what is depressing the property markets across Europe right now. Spain has been one of the hardest hit countries. I would expect that the housing market will start to stabilise towards the end of the year, as interest rates fall, so waiting to within 6 months of completion to try and sell your " extra" investment property might not be such a bad idea. Also...if ,like me ,you bought towards the end on 2005, the deposit you paid was at an exchange rate of about .67 pence to the Euro. it is now .79 ...so that means in sterling terms your deposit has gained 18%..not bad. Also i spoke to Pablo y/day, and he said Corvera would value a 205k ground floor 2 bed Tilo on Phase 2 at 225/240k depending on position. I know this doesn't mean too much as it isn't a firm bid, but it does mean that Calidona aren't "bottling it" and cutting their prices. I agree with previous posts that the quality of the development will mean this is one of the most coveted in years to come, and prices will eventually reflect this. But in my line of work "no-one gets fired for taking a profit" is also a good maxim to remember. regards Chris.
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