The Mortgage and Property Shop - Info Centre - Repossession Property Deals
Penthouse | Calpe - Property details - Reference: D42
Move in for only 46.000 € |
Call Now (0034) 96 50 50 200 |
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Click on the small images to enlarge        |
| Bedrooms: 1 | Plot size: . | |
| Bathrooms: 1 | Built size: 78 | Pool: Communal |
Description:
GREAT VALUE PENTHOUSE APARTMENT! This is an outstanding penthouse apartment by the bustling port of Calpe. Whether you are resting in your bedroom or lazing on your terrace you are met with the most impressive, panoramic views to the sea and Calpe. Your view is south, south west orientation & the sunsets are breathtaking! The beach is a 3 minute walk away and the port only 2 minutes. You have everything that Calpe has to offer on your doorstop with shops, bars, restaurants and access to public transport. Set up in the penthouse you have peace & quiet. Built with quality by Ballester, one of the areas top constructors in 2006, this new penthouse suite has all that you could need for a holiday home or rental apartment. Must be seen!
Purchasing Information:
| Value of property | 250.000 | € |
| Actual price of property | 168.000 | € |
Comparison of costs
COSTINGS of buying as normal sale
| 7% IVA (TAX) | 11.760 | € |
| 1.6% notary & land registry fees | 2.688 | € |
| Est. 1% legal fees | 1.680 | € |
| Est. 2% mortgage arrangement fee | 3.360 | € |
| Total | 19.488 | € |
| PLUS – 30% deposit for mortgage | 50.400 | € |
| Complete buying costs | 69.888 | € |
Should you wish to take advantage of the 4 year, delayed option to buy, there are many benefits to you:
- No large deposits required therefore, no need to lose any money through unfavourable exchange rates.
- No need to attempt obtaining a mortgage in a time when banks are not lending easily.
- Buy at well below the market value.
- Buy yourself time to assess the market. As you are buying in 4 years time you are able to watch the market and sell at your leisure when market prices rise. This way you ensure your maximum profit.
- Win/win situation for buyers and vendors that need out of the property.
- Legal procedure inscribed in the land registry and notarized.
- You have full rights to the property for 4 years to: live in, rent or sell on.
COSTINGS with delayed option to buy
| Value of Property | 250.000 | € |
| Actual price | 168.000 | € |
| Outstanding mortgage amount | 0 | € |
| (Monthly mortgage payments) | 700 | € |
As you can understand, an individual cannot buy this property directly from a bank. Due to the Mortgage and Property Shops long standing relationships with the banks and with their law companies relationships with the banks, they are able to obtain this property from the bank before it goes to court at the mortgage debt price. The Mortgage and Property Shop charge a fee of 5% of the value of the property or 20.000 € (whichever is the greater).
| Buying costs / fees | 42.000 | € |
| Estimated notary fees | 4.000 | € |
Total Initial Costs needed for delayed payment option
46.000 €
After this, the only payment would be your monthly mortgage – 700 €
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