Quote:
Originally Posted by MONEYMAKER
I SEE YOU HAVE REPLIED ,STATING THE WORDS ,,OF COURSE,,WHEN I CAME BACK YESTERDAY,IT SHOCKED ME ,THAT ALL OF MY FRIENDS HAVE BOUGHT OUT THERE WITHOUT ACTUALLY VISITING.THEY ARE NOW WELL BEYOND THE FIRST FLOOR,AND AFTER MEETING WITH THE BULGARIAN DEVELOPER,MAY I JUST SAY I PERSONALLY FEEL PERUN LODGE TO BE ONE OF THE BEST INVESTMENTS OUT THERE
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I have bought in Perun Lodge ans believe it to be a good investment (although I feel that I paid too much (most probably because of my agent's commission).
You do all realise that furniture packages are not really thrown in. When a property is valued the banks valuer will deduct the price of the furniture from the purchase price as well as the VAT so if you bought a studio for 65,000, deduct 6,100 (or whatever the valuer thinks it is worth) also the VAT at 20% (13,000) total 19,100 =45,900 divide by say 30sq metre=1,530 per square metre.
Hopefully the valuation will be at this price but I'm finding that buyers purchases are being valued at much less by the banks, the optimum price may be around 1400per square metre = 42000 (let's hope not). If you get a 70% mortgage on 42,000 the mortgage is 29,400 add your deposit 19,519=48,919 approx. This will leave a balance of 16,081, you then have to add the VAT and the cost of furniture and find this money as well, which is 35,000 euros. I know we will have paid 40% deposit, but I'm just finding out if people are aware of this. My agent told me the mortgage would be based on the total price, but this is not the case. I bought in Florimont Spa and this is happening to the valuations at this present moment!
lt's only when the mortgages are being arranged that you find this all out. I feel my agent was irresponsible in not making this clear (in fact the information and advice given by them were totally innacurate and misleading).
I consider to be misrepresentation and unethical. If anyone feels that they will have this problem when the mortgages are due, please contact me. I would like to know who advised (or left out info) on the financials.