English
FrançaisI've a deposit paid for a Leaseback since Oct 03, to date the building work has not started. The start date for same has been put back a number of times due to planning issues but I'm still keeping positive. Has anyone experienced a situation similar to this ??
Hi Vall, Not me personally but my sister-in-law's brother put a deposit on a 3 bed, 2 bath apartment near Malaga in 2001 and to date not a brick laid due to planning hitches but apparently now due to start this year. However the agreed price at the time was £85,000 and now the builder has offered £120,000 to take it back off him at this stage and presumably resell it! Not a bad profit for fresh air is it?
No my purchase was fine. I think when buying a leaseback property you really need to ensure both the developer and management Company are reputable and reliable. I suggest in future do some homework and find out how long they have been in existence, any previous developments and if so was there any delays/cancellations.
In most cases it is an investment product first, holiday property second, You wouldn't buy a financial product from a 2p company who only set up operation 6 months ago!
Hope it all works out
Hi VAll
I dare say you are talking about OLYMPE, antibes.
I had a client speak to the notary this week. I cant post it publicly but email me if you want the details
glennborthwick@aol.com
Hi,
I had a similar issue with my first leaseback in Cannes - Placed deposit in September 2001 the complex was not generating income until late 2004. An historical site was discovered when foundations were dug, building work was generally slow
I learned from this experience, small builder with SCI management company who didn't appear to be in much of a hurry.