The Mortgage and Property Shop - Info Centre - Repossession Property Deals
Apartment | Oropesa - Property details - Reference: D055
Move in for only 18.700 € |
Call Now (0034) 96 50 50 200 |
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Click on the small images to enlarge      |
| Bedrooms: 3 | Plot size: . | |
| Bathrooms: 1 | Built size: 98.55 | Pool: Yes |
Description:
This 3 bedroom apartment is situated in the lovely Marina D\\\'or Beach Resort. It is the largest resort in the Valencian region and on the Costa Azahar. There is a new international airport, 15 minutes away, opening early 2009, which is expected to give the tourist market a massive boost and bring in property investors making this a property hot spot for years to come. There are 3 hotels (3,4,5*) on this resort, along with the apartments, shops, restaurants, bars, chemists, banks, childrens theme park and water park, a mini golf and huge gardens. The largest SPA in Europe is in the 5* hotel! The huge Marina D\\\'or Golf project is also due to start early next year which includes, 3 Golf courses, Theme park, Water park, Themed hotels, Artificial Ski Slopes, Shopping centres, Caribbean style lakes, Aquarium, Outdoor Spa, etc.etc. Now is the time to invest in this eloquent Resort which has huge potential before the prices start to rocket!
Purchasing Information:
| Value of property | 230.000 | € |
| Actual price of property | 198.700 | € |
Comparison of costs
COSTINGS of buying as normal sale
| 7% IVA (TAX) | 13.909 | € |
| 1.6% notary & land registry fees | 3.179 | € |
| Est. 1% legal fees | 1.987 | € |
| Est. 2% mortgage arrangement fee | 3.974 | € |
| Total | 23.049 | € |
| PLUS – 30% deposit for mortgage | 59.610 | € |
| Complete buying costs | 82.659 | € |
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 | 230.000 | € |
| Actual price | 198.700 | € |
| Outstanding mortgage amount | 180.000 | € |
| (Monthly mortgage payments) | 921 | € |
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 | 15.700 | € |
| Estimated notary fees | 3.000 | € |
Total Initial Costs needed for delayed payment option
18.700 €
After this, the only payment would be your monthly mortgage – 921 €
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