Pay day lender

Indeed just a few weeks ago it seemed that Germany was about to dip into recession. I am not sure how this all corresponds with the doom and gloom the mass media are pumping out with regards to Brexit?

The barrow money mortgage broker is advising that this is common practice, and has no repercussions. They are, however, very reluctant to do this, and has advised we could be convicted of money laundering! I have asked a Spanish colleague and they have never heard of this practice, which is quite 1 hour loan different than the undervaluation (with a cash bung on top) that I believe used to be fairly common in Spain. I am aware that in Spain, things are not always so simple! There seem to be plenty of practices that are not technically legal but are common practice. This all sounds very dubious to me, why on earth would someone pay more than the advertised price for a property? To clarify, the buyer is not intending to actually PAY more than the advertised price.

They say that they need to do this so that they can have enough money to pay for all the fees and refurbishment they need to do.

Example - get mortgage for 240,000, pay seller 140,000 (but have 240,000 added to all legal documentation),have 100,000 to cover fees and refurbishment. This was a common fraudulent tactic in the pre-recession days in the US. It was a method to allow the buyer, with no money down, to buy the property with an 80 percent mortgage that in fact covered the entire purchase price and the closing costs. If reported it could cause the seller a catch-22 wherein they either have to admit to abetting fraud or else underpaying taxes.

As a seller I am not sure why you would wish to get involved in fraud - doesnt make sense to me.

Sell the property at the right price and file the correct paperwork. We recently found a property we want to purchase in the Els Poblets area near Denia.

We agreed a good price and moved forward with a pre contract with the sellers. We received the valuation this week and the bank valuation is much much lower than the sale price we agreed. We are upset at our lawyer as there was no advice given on this and also no clause in personal loan companies the contract for if we did not obtain a mortgage. Therefore we either risk losing the deposit, which is a large amount of money for us, or we have to find the shortfall of the money to purchase the property, which is a huge amount of cash. We understand that if we come to sell in the instant pay day loans future this may cause problems for other people who need a mortgage, but we cant afford to how do personal loans work lose the deposit and do plan to live in the house for a long time?

Unfortunately, I am not sure what you can do as you did not take advice and the valuation was only carried out pay day lender after you put down the deposit.

While you may feel robbed it does not appear that you have been given incorrect advice, you have been given no advice, although the valuation was carried out after the deposit.

Since the UK voted to leave the European Union the French government has grown in stature and influence across the EU. Will this be reflected in a growing popularity for French property? France will continue to be an even stronger powerhouse within the EU although to all intents and purposes, Germany leads the way.

The only problem may be if Germany decides to break rank and do a deal with the UK on Brexit.

Will Spain feel any heat from the Italian financial crisis? How would this impact Spanish property prices if contagion were to sweep through Europe? Whether or not Catalonia goes independent is a different matter but there will be growing friction between Madrid and Catalonia. Once Brexit settles down I think that UK investors will return to the Spanish market and help to pick up some of the slack. I read just a few months ago that there is still a lot of unsold stock on Spanish bank loan books as a consequence of mortgage defaults after the 2008 financial crisis began. This will not help prices in the short to medium term. Within that budget what sort of property size can I get and what could be the best option in terms of both short term rental and appreciation potential? Are Portuguese banks not still struggling with unwanted property on their books?

I would approach a local real estate agent and take their advice. Some of these banks are giving property away last time I heard with assets priced to move. There are still plenty of bargains in Portugal and the way Brexit is going I think they might get more attractive in the short term.

If it was me I would not necessarily rush in just yet. I will be starting my property hunt in the French Alps this year and I have a question for the more experienced people out there. I heard something that I would like to get confirmed. A colleague told me that the difference between the real price of a plot or a property can be quite different from the advertised price online, particularly when the seller is targeting foreigners. How much, on average, would you say that the price of a property can be negotiated down from whats shown online? The underlying story behind this is that apparently there is a rule in France that if someone offers the seller the asking price, they are obliged to sell so they list a much higher price than what they would be happy to sell for. I will be starting my property hunt in the French Alps this year and I have a question for the more experienced people out there. I heard something that I would like to get confirmed. A colleague told me that the difference between the real price of a plot or a property can be quite different from the advertised price online, particularly when the seller is targeting foreigners.

How much, on average, would you say that the price of a property can be negotiated down from whats shown online? The underlying story behind this is that apparently there is a rule in France that if someone offers the seller the asking price, they are obliged to sell so they list a much higher price than what they would be happy to sell for. If you think about it logically if someone offers the money lenders online asking price of course they will sell. Some immobiliers ask far higher prices though than others so if you find a property you like look on other sites to see if you can find it for less.

Leggets for instance is notorious for raising prices. Other than that go with your gut, compare prices to other similar properties and make an offer. Having said that the property is lovely and well worth what we paid and more so we are happy. There is no hard and fast rule about the relationship between the advertised price and selling price. If you have invested in The Orchard Development, Bansko, through Bulgarian Dreams, it is in your interests to join The Orchard Action Group. It is a secure closed group with over 30 members at present, managed by other investors in development. Importantly, every member is validated before being allowed to join, so you can be assured (as I was) that membership is safe and secure. I for one, do not wish to lose my money or apartment. The more investors that join, the more of benefit it will be to all. We have recently measured an apartment at the Orchard upon the request of an owner.

He and his brother had purchased identical apartments but one of them turned out to be smaller than the other one. If anyone is interested and needs assiance, please PM me for details.

We also have some progress photos if anyone is interested. I am particularly concerned with the delays to the project and when Block A is likely to be handed over.

I am a journalist writing a feature for the Sunday Times about British buyers who have been left in the lurch by foreign developers.

I am very interested in speaking to you about your action group. I have purchased in phase 1 block A and would like to join the group.

Can you please send me details of the web site that you mention. Tim If the journalist wants a good story for the papers he should also include the Pearl II in Bansko where one developer shot the other and we have all been left high and dry! If there is anybody interested in telling their story please PM me. I am one of the investor of Orchard apartment through Bulgaria Dreams,would you please contact me asap. I, like many of you watched pay day lender the Watchdog programme last night and wasnt really that encouraged. I have bought in Phase 2 of the orchard and am at the position whereby i cant get any answers from anybody. Owners legged it with the money, projects abandoned.

Essentially they were only the agent, surely the more prominent question is whether or not the developer is still playing the game? Has anyone actually contacted this developer (and i use that term loosely) or has he jumped ship too, also has anyone physically been to Bansko to look at the Orchard site? There didnt seem to be too much mention of it last night. I have been to Bansko with another well know property company that the forum wont let me name, a few years ago and it seems to be a minefield of good honest people and unfortunatly alot of muppets who are out to rob you. According to Watchdog the couple who ran Bulgarian Dreams were also the lending company the developers, and both offices in Sofia online payday loans kansas are closed. The mortgage broker is advising that this is common practice, pay day lender and has no repercussions.

They are, however, very reluctant to do this, and has advised we could be convicted of money laundering!

I have asked a Spanish colleague and they have never heard of this practice, which is quite different than the undervaluation (with a cash bung on top) that I believe used to be fairly common in Spain.

I am aware that in Spain, things are not always so simple! There seem to be plenty of practices that are not technically legal but are common practice. This all sounds very dubious to me, why on earth would someone pay more pay day lender than the advertised price for a property? To clarify, the buyer is not intending to actually PAY more than the advertised price. They say that they need to do this so that they can have enough money to pay for all the fees and refurbishment they need to do. Example - bad credit payday loan direct lenders get mortgage for 240,000, pay seller 140,000 (but have 240,000 added to all legal documentation),have 100,000 to cover fees and refurbishment. This was a common fraudulent tactic in the pre-recession days in the US. It was a method to allow the buyer, with no money down, to buy the property with an 80 percent mortgage that in fact covered the entire purchase price and the pay day lender closing costs. If reported it could cause the seller a catch-22 wherein they either have to admit to abetting fraud or else underpaying taxes. As a seller I am not sure why you would wish to get involved in fraud - doesnt make sense to me. Sell the property at the right price and file the correct paperwork. It has been a good few years for the Portuguese real estate market thanks in no small way to the golden visa ticket.