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Key selling points
- Mortgage offer of 89% of purchase price
- Sale price 21% below bank valuation
- Total investment need around 35,000 Euros
- Desirable new 3 bedroom property
- Good rental potential managed on site
- Resort adjacent to Teguise Green Golf
The property in question is number 30 in the El Jablillo resort. The home is a three bedroom townhouse.
El Jablillo is complete and ready to occupy, however properties can not be delivered to the owners until the final paperwork has been received from the Costa Teguise town hall, expected in July, however we anticipate a more exact delivery date will be available very soon.
We will arrange a private sales contract between the new buyer and the original purchaser and when the property is ready for delivery, probably in July. The first buyer will complete on the property and immediately sell to the second buyer. In effect there have been two transactions but all in the space of a few minutes.
The above purchase system is necessary as the property is still off plan and technically all the original purchaser has to sell is a contract with the developer and cannot sell until completion. We have sold many properties in this way over the last couple of years as it is the only legal way to process a sale prior to delivery.
Initially to reserve the property a small fee will have to be paid as a goodwill payment to the first purchaser's solicitors. This will of course be deducted from the purchase price. No additional payments will be required until the delivery.
We have estimated the deposit as shown below. A mortgage is available from the projects funding bank CAM Bank and the terms available for this mortgage are advantageous. Of course alternative funding can be arranged, however the taxes and fees payable will be higher.
Sale price from first purchaser 193,826.00 Euros
Bank Valuation 247,337.00 Euros
Mortgage available from CAM Bank 173135.90 Euros
Net deposit due 20,690.10 Euros - Carried forward
Total fees payable Estimation:
Net deposit due 20,690.10 Euros - Brought forward
Legal fees 1,200.00 Euros
Sales Tax at 5% 9,691.30 Euros
Land Registry and Notary fees 1,500.00 Euros
Mortgage arrangement fee 1,298.65 Euros
Total deposit due = 34,380.05 Euros (27 399.07 GBP at 1.25)
General project description
The El Jablillo residential project is set in a prime location and consists of 67 properties the majority of which are 2, 3 and 4 bedroom town houses. The remainder are 1 and 2 bedroom apartments.
Each property has spacious terraces with sea views, private parking and a home automation system or Domotics.
The developer is taking advantage of the elevated position of this site and will be developing the properties to maximise the views towards the sea.
Within the grounds there is a large communal pool area, separate children's play park as well as generous gardens throughout the site.
Development location
The whole project has been integrated into the existing town, although El Jablillo is located at the edge of the current urbanisation and as such is considered to be a prime site as existing services will be within easy reach. Situated near to the established 18 hole, sub tropical golf course and the Water Park.
Please ask us to send you floor plans and site plans.
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