Eastern Algarve - Olhao Marina

[Chivers]

Thanks for that Howard and for the pictures and details of your deal with The Furniture PackCompany. We'll investigate that as well. If you have any more useful info would be pleased to hear.
Regards Mary

[kle_3187]

Hi Mary,

If you would like to give me a call or for me to call you regarding this tax issue ib be happy to pass on what i know because we have had a rather unpleasant shock when we found out the ammount of tax we have to pay and believe that MRI have not informed buyers of this tax and if this is the case we wish to organise a meeting with the developers to air our concerns.

Regards

Kylie

[kle_3187]

Hi Howard,

Weve purchased a T3 appartment and have been surprised to find out we have to pay over 18,000 Euros in IMT Tax. We also purchased a t1+1 but due to the extra tax costs are considering letting go as this ammount was a big shock to us. Where you aware of this? Also weve been given a completion date of 23/2 however we are in the front block so not sure which blocks have been given dates.

Regards

Kylie

[Chivers]

Hi Kylie

I am sure we did know about the IMT (kinda like our stamp duty here) - I believe it was mentioned by either the solicitor or our broker. Will double check our paperwork tonight. Regards and thanks Mary

[kle_3187]

Hi Mary,

Stamp duty has to be paid as well as IMT Tax in Portugal e.g.

T1+1

IMT Tax: 9,926
Stamp Duty: 1,800
Fee: 750
Registry Fee: 650

Hope this helps

Regards
Kylie

[haytch]

Hi all, has anyone looked into a property management company yet.

Cheers Howard.

[kle_3187]

Hi Howard,

No we havn't looked into one yet, have you? We've had a few companies approach us but are yet to look into it. Weve just booked flights to go over in Febuary, any ideas on where to stay?

Regards

Kylie

[haytch]

Originally Posted by kle_3187

Hi Howard,

No we havn't looked into one yet, have you? We've had a few companies approach us but are yet to look into it. Weve just booked flights to go over in Febuary, any ideas on where to stay?

Regards

Kylie

Hi Kylie, no we have no idea,s yet re property management, sorry don,t know about where to stay, we always go to our timeshare in Albuferia, we have booked for the school holidays in feb.
Howard.

[Chivers]

Originally Posted by haytch

Hi Kylie, no we have no idea,s yet re property management, sorry don,t know about where to stay, we always go to our timeshare in Albuferia, we have booked for the school holidays in feb.
Howard.

Howard

We have just been made aware of a global valuation of the apartment which we are contracted to purchase and it comes in about €80,000 less than the price we are paying. We are arranging a proper valuation to see what that comes out at. Have you had the same experience? It is a little worrying re buying something that had dropped in price so considerably.

Regards Mary

[Chivers]

Originally Posted by kle_3187

Hi Howard,

No we havn't looked into one yet, have you? We've had a few companies approach us but are yet to look into it. Weve just booked flights to go over in Febuary, any ideas on where to stay?

Regards

Kylie

Hi Kylie

If you haven't already arranged accommodation you could try ownersdirect.co.uk as they will possibly let you have an apartment for shorter periods at this time of the year. Also I saw what looks like a nice B&B in the centre of Olhao which might be interesting. What is your experience re valuations etc as we are concerned about this - see my response to Howard.

Enjoy your trip and will look forward to your feeback from that - also from you as well Howard.

Regards
Mary