17 Jul 2009 12:00 AM:

This is a concept loosely based on time share, but you end up with owning a share of a property on title deed.

Beware! Where reputable timeshare complexes has good all year round maintenance, you will have to share this through up to twelve other owners. Also, it is virtually impossible to sell a share of a title deed on, or get a mortgage on it. If some other owners default on their community fees, you will have to pay their share, if not, the whole property will be embargoed. If the users before you left the place in a real mess, what can you do? Spend the first couple of days of your stay cleaning up. You cannot do anything against another equal share owner and what he does in his property. Etc etc.

There are so many risks involved in the future by buying this type of property, it is really not worth it. If you cannot afford a property outright, over which you have complete control, come over on your holidays and rent a nice apartment as rentals are very cheap right now and will be for a while.

Thread: Buy a share in a property???

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12 Nov 2008 10:41 PM:

Did you get in touch with an independent lawyer? There is a lawyer in Marbella who is already dealing with a number of Corvera clients.

Thread: Corvera Golf resort Murcia

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12 Sep 2008 11:46 PM:

It depends, in what area is your property?

Thread: Can anyone recommend a good estate agent?

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10 Sep 2008 2:20 PM:

The A 368 is the main road through Arroyo. It was the main road linking Mijas, Benalmadena and Arroyo to Málaga. In Arroyo, on this road there is still an ancient coaching inn called La Ventanilla de la Perra, serving Malaga food, and dates from some 3 centuries back. Before the coast road was built in the 1920's, this was the main road. So, that sounds good as a location.

Thread: Looking to move to Spain - help !!

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10 Sep 2008 12:00 AM:

  

Be aware of the 10% commission touts! 

A couple of agents on the CDS have (out of desperation) reinstated a 10% commission rate on re-sales. They seem to have forgotten the simple fact that realtors are nothing more than middlemen, as they do not own their product, and do not facilitate a contact between the vendor and buyer until the actual purchase takes place. Now they are doing the already distressed market a huge disfavour, by insisting that their vendors list their properties with them for a staggering 10%!

 

Since that is not enough, of course, in some cases, the vendors are also asked to place a sales incentive on top! Naturally, only the most desperate owners would sign up to such a scheme, not realising that this puts their properties into the twilight zone, and that buyers have to be aware that the portfolio offered by this company will be the most limited and commission driven little package ever. These practises have ruined the property market before, so vendors and buyers, resist!

This message was last edited by Robert H on 9/10/2008.

This message was last edited by Robert H on 10/1/2008.
Thread: A new Breed of Greed

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