Prices

This topic contains 20 replies, has 5 voices, and was last updated by  Anonymous 9 years, 5 months ago.

  • Author
    Posts
  • #53845

    Anonymous
    Participant

    Hi Whats a new 3 Bed Villa 105m2 With pool nice garden and nicely furnished Worth Today in Cumbre Del Sol Sea views 900m2 Plot

  • #80772

    Inez
    Participant

    What region is Cumbre del Sol? That is a popular name and it could be anywhere in Spain

  • #80625

    Inez
    Participant

    What region is Cumbre del Sol? That is a popular name and it could be anywhere in Spain

  • #80776

    Anonymous
    Participant

    Hi Its Between Benitchell & Moraira in Denia Region North Costa Blanc
    Thanks

  • #80627

    Anonymous
    Participant

    Hi Its Between Benitchell & Moraira in Denia Region North Costa Blanc
    Thanks

  • #80778

    Anonymous
    Participant

    Hi
    Just had a mate on the phone and has just purchased a property in Duquesa.
    Total cost to him ? Nothing.
    Now I know this guy is a mortgage advisor so he knows the ropes, the valuation came that much higher so it covered his deposit and purchase costs but I thought it was getting tough to borrow. 😕

    Frank 8)

  • #80628

    Anonymous
    Participant

    Hi
    Just had a mate on the phone and has just purchased a property in Duquesa.
    Total cost to him ? Nothing.
    Now I know this guy is a mortgage advisor so he knows the ropes, the valuation came that much higher so it covered his deposit and purchase costs but I thought it was getting tough to borrow. 😕

    Frank 8)

  • #80786

    Inez
    Participant

    Frank – not the sort of thing you should post on an open forum. It is against the bank of Spains regulations to include costs in the mortgage as it means borrowers are taking more than the percentage the bank allows.

    ie non-residents to 80% of the valuation subject to a max of 90 or sometimes 100% of the PURCHASE PRICE. Banks are doing a max lending of 100% of purchase contract price.

    In this case your friend must have supplied somehting dodgy to do this

    It can work in theory if the valuation is much higher than the purchase price – that isnt the issue and there are many properties that fit that particular criteria, but banks are aware this has happened a lot – they are asking to see deposit monies down, so falsifying docs will get people into serious trouble

    Not the way to go!

  • #80632

    Inez
    Participant

    Frank – not the sort of thing you should post on an open forum. It is against the bank of Spains regulations to include costs in the mortgage as it means borrowers are taking more than the percentage the bank allows.

    ie non-residents to 80% of the valuation subject to a max of 90 or sometimes 100% of the PURCHASE PRICE. Banks are doing a max lending of 100% of purchase contract price.

    In this case your friend must have supplied somehting dodgy to do this

    It can work in theory if the valuation is much higher than the purchase price – that isnt the issue and there are many properties that fit that particular criteria, but banks are aware this has happened a lot – they are asking to see deposit monies down, so falsifying docs will get people into serious trouble

    Not the way to go!

  • #80788

    Anonymous
    Participant

    Hi Inez
    Fully understand what you are saying but at the end of the day it IS happening by all accounts or happened in this case.
    The last thing I am saying is that this is acceptable and alongside the black money should be avoided at all costs.
    He may have supplied something dodgy( dont think so) or the banks have turned a eye either way its wrong and should be posted on the forum to warn others of the antics which have got so many in trouble.

    Just Frank 8)

  • #80633

    Anonymous
    Participant

    Hi Inez
    Fully understand what you are saying but at the end of the day it IS happening by all accounts or happened in this case.
    The last thing I am saying is that this is acceptable and alongside the black money should be avoided at all costs.
    He may have supplied something dodgy( dont think so) or the banks have turned a eye either way its wrong and should be posted on the forum to warn others of the antics which have got so many in trouble.

    Just Frank 8)

  • #80790

    katy
    Spectator

    According to what I have heard it is happening a lot, don’t know how. Not the way to go though with the state of the markets.

  • #80634

    katy
    Spectator

    According to what I have heard it is happening a lot, don’t know how. Not the way to go though with the state of the markets.

  • #80794

    Inez
    Participant

    With the onsite of external auditors, if something dodgy has happened then arrests will be forthcoming

    Quite a few brokers have been caught at this as well as clients on signing. Notaries will also be caught in it and I know it went on big time in the past, one of the paths leading to current issues and problems is people obtaining huge amounts of money including massive cashbacks, then once the money has gone, running to another country!

    Im not saying it cant be done or that there is away around but anyone reading this may well be tempted to try and perhaps be caught.

  • #80636

    Inez
    Participant

    With the onsite of external auditors, if something dodgy has happened then arrests will be forthcoming

    Quite a few brokers have been caught at this as well as clients on signing. Notaries will also be caught in it and I know it went on big time in the past, one of the paths leading to current issues and problems is people obtaining huge amounts of money including massive cashbacks, then once the money has gone, running to another country!

    Im not saying it cant be done or that there is away around but anyone reading this may well be tempted to try and perhaps be caught.

  • #80641

    Anonymous
    Participant

    Inez
    Perhaps it may be right that it is posted and pointed out that this is a dangerous game to play.
    Better the matter is aired and advised against to help avoid many more getting in trouble by dealing with dodgy mortgage brokers, lenders/ Banks that turn a blind eye.
    Also the posting from you that highlights that somethings are at least attempting to be more regulated can only be welcome.
    My solicitor informed me that there was a case of black money where the police were waitng at the Bank for the purchasers and big trouble followed for them and the solicitor.
    Think the Spanish have started to realise the amount of money that was being lost in taxes

    Just Frank 8)

  • #80804

    Anonymous
    Participant

    Inez
    Perhaps it may be right that it is posted and pointed out that this is a dangerous game to play.
    Better the matter is aired and advised against to help avoid many more getting in trouble by dealing with dodgy mortgage brokers, lenders/ Banks that turn a blind eye.
    Also the posting from you that highlights that somethings are at least attempting to be more regulated can only be welcome.
    My solicitor informed me that there was a case of black money where the police were waitng at the Bank for the purchasers and big trouble followed for them and the solicitor.
    Think the Spanish have started to realise the amount of money that was being lost in taxes

    Just Frank 8)

  • #80643

    Anonymous
    Participant

    Yes, but what about Palletman’s question. I know Cumbre del Sol – developer is Vapf. I would expect prices there to be going down, but can’t answer your question any better than that.

    Mark

  • #80808

    Anonymous
    Participant

    Yes, but what about Palletman’s question. I know Cumbre del Sol – developer is Vapf. I would expect prices there to be going down, but can’t answer your question any better than that.

    Mark

  • #80645

    Anonymous
    Participant

    Thanks Mark

  • #80812

    Anonymous
    Participant

    Thanks Mark

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