The Reef Club

[jshore242002]

Hi All, Does anyone out their have any thoughts on the Reef club resort as a long term investment?

I would also be interested if anyone has had any dealings with dream resorts or could suggest other vendors offering property on this development

Thanks Guys

[jshore242002]

Does anyone have opinions on this project?

[debzor]

Originally Posted by jshore242002

Hi All, Does anyone out their have any thoughts on the Reef club resort as a long term investment?

I would also be interested if anyone has had any dealings with dream resorts or could suggest other vendors offering property on this development

Thanks Guys

Hi, which Reef Club are you refering to? The one in PE south of Recife, or another one?

[jshore242002]

Hi ,

Sorry, The one south of Recife, this is the only one I am aware of Brazil.

Any thoughts would be appreciated

[debzor]

Originally Posted by jshore242002

Hi ,

Sorry, The one south of Recife, this is the only one I am aware of Brazil.

Any thoughts would be appreciated

We are British, but live on the tropical island of Itamaraca with investor visa status, just a little north of Recife.

We do know of the Reef Club, and it was actually mentioned to us by the Director of Tourism for Pernambuco in a meeting we had recently, and it is something they are actively supporting.

If you send me an email or private message, perhaps I can help a little further...

[sharkboy]

Im currently on the waiting list, number 30 with Dreamresorts. Ive been offered finance package 70% ltv,furnature pack and 2 years rental at 5% net which should cover mortgage for 2 years and maintanance included for the 2 years. 1 bed 70k gbp. Appears to have a good right up in broad sheets, i await launch and contracts detailing and confirming this before getting to excited. What does everybody else think?

[jshore242002]

Hi Debzor,

Thank you, no idea how to send you a private message!! Couldyou advise as I do not seem to be ab le to add my email address to this message.

but would love to get in touch!

Your help would be really appreciated.

[Dotty]

Do you happen to know who the developers are and if this is an only project or have there been others undertaken by them in the past?.What are the companies past experiences in construction and do they have the full licenses to go ahead or not?

Originally Posted by sharkboy

Im currently on the waiting list, number 30 with Dreamresorts. Ive been offered finance package 70% ltv,furnature pack and 2 years rental at 5% net which should cover mortgage for 2 years and maintanance included for the 2 years. 1 bed 70k gbp. Appears to have a good right up in broad sheets, i await launch and contracts detailing and confirming this before getting to excited. What does everybody else think?

[debzor]

Originally Posted by jshore242002

Hi Debzor,

Thank you, no idea how to send you a private message!! Couldyou advise as I do not seem to be ab le to add my email address to this message.

but would love to get in touch!

Your help would be really appreciated.

Hi, I think you actually have to made over 10 posts before you can leave electronic addresses or pm's, so why not email me? debbiezorab@yahoo.com

[sharkboy]

To Dreamresorts.

Any chance of a price list?, available apartments,what my deposit holds me?an apartment,apartment pick or metre squared price prior to launch?
Please can you answer the following quesions.


1)are all licences,permits in place to sart building,when is this start date?
YES
2)are deposits secure in goverment schemes etc or held by developer?
NO,DEVELOPER
3)are mortgages written into the contract?
YES,deal from developer.
4)are mortgages available for foriegners in brazil?
NO,This will be the first of its type.
5)what are maintanence charges to be?
Paid for 2 years as per guarantee,not known after.
6)is there a charge to use facilities in hotels etc,beach,pools etc.
NO
7)is this use written into the contracts for life?
YES
8)when is 1st 15% due and when is 2nd 15% due?
August-February

Below is a clipping from a legal advise forum.
What is the procedure with Reef Club as investment equals taking cash out of Brazil for everybody concerned.

There are several important points that are presented in the thread, which property buyers in Brazil must bear in mind when purchasing or investing in Brazilian real estate. The utmost of these is to refrain from making any type of payment for a Brazilian property to any person or entity that is not located inside Brazil. Aside from this, as the country is very bureaucratic, the buyer must send his funds to Brazil, either directly to the seller or builder. The buyer can also send these funds to himself via his Brazilian business. This is due to the fact that the buyer can open an account, since there is a property being purchased. This is actually needed in order to create an investment record with Banco de Brazil. Having an account in this bank would then qualify one for an investor’s visa. This will also enable anyone to live in Brazil, without worrying about the length of stay, the departure and coming back, the need to go to the Federal Police for visa renewals, as well as other concerns. The record of investment also allows for the easy transfer of liquidated assets outside of Brazil. The Banco de Brazil does not allow anybody to send 100,000 reais or more outside the country without a record of anybody sending money to Brazil. Although paying an agent out of the country would not create the said record with Banco de Brazil, thus this may possibly pose difficulties later on.
These points only stressed the importance of research and proper information when investing in an international property. This is in order to avoid mistakes and misconceptions. One could also not discount the assistance afforded by a trusty agent in Brazil, as well as the advice provided by one’s independent legal counsel.

This is being addressed.
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HOPE THIS HELPS.I STILL AM GOING TO ADDRESS ALL THESE IN THE CONTRACTS.ANSWERS WERE PROVIDED VERBALLY TO ME OVER THE PHONE.

This is said to be a flag ship development, but similar maybe being built south Brazil. It is said to have strong backing and known directors from financial institutes.I continiue my research into this!