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Somone sent me this. They sort of knew it is too good to be true, but still, they were interested. Just goes to show how easy it is for people to go into deals against their better judgement.
Mark
Bahia del Golf, Almerimar, Spain
£31,600 (approx.) Cashback
100% Funding
3 Year Rental Guarantee
Price 250,000 e – 260,000e (£197,500 – £205,000)No Survey Costs – the survey has already been carried out
No Legal Costs – these are built into the deal
__________________Location – Almerimar in Spain
500m from the Beach
2 bed, 1 bath apartments
Golf course and swimming pool views -
What is the too good to be true part..
As I read it they are offering £31k cashback (39,000e) and rent at say 5,000e a year for 3 years.
Therefore total cashback deal is 54,000e
Real cost 206,000e (260,000-54,000)
BUT that is the sort of going price (read that as advertised price) in Almeriamar for the newer 2 bed apartments. Unless you were really stupid to pay 350,000+ for ones around the port.
And to cap it off you are paying additional tax (7% IVA) on a higher purchase price that you are given back… (assuming the legal fees meant Notary)
Where is the the good bit….
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