Marsa Alam

[Goldberg Global]

It will have to worked on tomorrow, is late here and 15 hours today is getting near my limit!

We talk tomorrow. thanks.

[Goldberg Global]

If you can get me the exact questions you want answered I will send them over to our guy. Will probably be next week as Friday is not a work day. thank you.

[samui13]

Hi there

I am totally new to all this. I am looking at Marsa Alam Beach resort (currently EUR39950) for a 2 bedroomed middle floor apartment.

Has anyone used the agents acquireabroad dot com and are they trustworthy.

The resort appears to be good value and just what we are looking at for a second home in the sun. However my concerns are that the launch date is end of Feb so we need to pay EUR1500 immediately in order to get first dibs on the choice of apartment and secure the lower price.

One concern after contacts are exchanged the full balance of the monies have to be paid into escrow account - this appears a bit hefty being as it takes 18 months to complete the building - is this correct that it is sometimes the case (the escrow account is in the Netherlands).

Are there any pitfuls I need to look out for.

Does anyone know what would happen if the development didnt sell all apartments and then went bankrupt?

Sorry for all the questions if you could help urgently that would good as I am running very low on time.

I am calling the agent late this afternoon to discuss.

Thanks in advance.

Lou

[ted_007]

Originally Posted by samui13

Hi there

I am totally new to all this. I am looking at Marsa Alam Beach resort (currently EUR39950) for a 2 bedroomed middle floor apartment.

Has anyone used the agents acquireabroad dot com and are they trustworthy.

The resort appears to be good value and just what we are looking at for a second home in the sun. However my concerns are that the launch date is end of Feb so we need to pay EUR1500 immediately in order to get first dibs on the choice of apartment and secure the lower price.

One concern after contacts are exchanged the full balance of the monies have to be paid into escrow account - this appears a bit hefty being as it takes 18 months to complete the building - is this correct that it is sometimes the case (the escrow account is in the Netherlands).

Are there any pitfuls I need to look out for.

Does anyone know what would happen if the development didnt sell all apartments and then went bankrupt?

Sorry for all the questions if you could help urgently that would good as I am running very low on time.

I am calling the agent late this afternoon to discuss.

Thanks in advance.

Lou

Hi, Samui,

Escrow is to protect ur money.
Developer get them in stages, so its safe.
Also, as property value goes up with the time, so you rmoney are appreciating in Escrow as well.
I look at it this way.

Ted

[eddie 55]

Originally Posted by shellbell

Anyone else considering putting their money down?

I would be really interested in buying off plan 1 bed apartment...3 years ago
I invested in 1 bed apartment in El Gouna (off plan price £24.000) now it's
worth top end of £60.000...so I can see a really good investment here...but not a short term...long term with very good returns....
Being in the front of a new development....means that all the other buildings
work is done at the back of the resort....if this makes sense.

eddie55

[samui13]

Right ive put put my money down now and will keep everyone posted on how it all goes - I am looking forward to seeing the plans at the end of Feb (if thats the true date of course!!!).

Gone for a middle Aparatment .

Lou

[cin7166]

Lou,

I've put my money down too, also on a middle apartment, 2 bed.

[samui13]

Great Stuff - Athough I only paid today and it takes a couple of days for the money to get through - so please leave me a good one!!! ha ha ha

[cin7166]

There were 55 units reserved last Tuesday when I reserved mine, so I think we will have a good choice.

[awahee123]

Marsa cetainly sounds as though it could be a contender for a top holiday resort for the future.
I'm sure there will be a lot more developments coming out of Marsa in the next few months.