Hi all

Marsdei- No particular bad reason so dont worry, as I had also considered a few other developments that caught my eye at the time!

Just one of those last minute things as this development suited my personal and financial situation better with regards to completion dates and the payment plan structure thats all!

Good luck with your investment at Lagaoe- It will be great when its finished!

Maybe once were both up and running we could do an exchange and stay at eachothers places sometime??

Take care D

Dee dee,
I have compiled a small group of people who are all interested in future exchanges along the lines of your suggestion.Please let me know if you are interested in being added to the list and i will happily do so.
Between us we will have a very impressive international portfolio.

Excellent idea deedee1. well up for that! Lagoa will have its own cosmetic centre so if you let me know whats sagging before you visit there I will see what I can get you done for free!!

Hi guys n gals,

Noticed banana Residential advertised a week or so ago aswell!

Looks great investment -but my only querie was the location of the development.. 2kms from the beach???

Its fine if your not looking for beachfront location and its only a 5 minute ride away anyway- but surely this must be one reason why the properties are so cheap??

Saying that if I could afford to buy a second property this does look like an interesting development if all adds up??

See ya D

P.S MARSDEI- Was thinking that aswell thats why I offered the transfer- unfortunately having children has not been kind to me over the years..!! (hee,hee)

P.P.S WOLFGANG- Will do sounds great mine not ready till end 2009 so will let you know more details in a couple of years..!!

Hello.

Have any of the purchasers at Grand Natal discovered the 'actual purchase price' of their unit ?. I'm waiting for the agent to explain this.

I have paid a deposit on a fixed price quoted in Euros but I now understand that the Developer wants paying in 'Brazilian Reales'. Hmmmm

I can't imagine that the developer will be happy with the Exchange rates on the day that are best for me. Either he has set (or will) set the exchange rate between Euro's and Reales or he will insist on a specified Exchange House.

I'm a bit concerned because this happened to me in Morocco where the fixed rate from Euros to Dirhams = a £7K bonus to the Developer. Needles to say I'm not buying in Morocco !

KDJX

Hi all,

KDJX- First Ive heard of this!

But in the reservation agreements and pricing structures everything is in euros !
We have agreements in euros and payments have already been made in euros so as far as Im concerned it in EUROS!!!

If they change this now and the rates work out in their favour then surely we DONT HAVE TO ACCEPT THIS!!

This is not the agreement therefore (quote me if Im wrong) BUT THEY HAVE BROKEN THE AGREEMENT-Therefore it becomes null and void-we should be in a position to pull out , be fully refunded for eveything weve paid to date??

Thats what Ive heard before anyway from others??
But anyone else that can advise with more insight on the subject would be appreciated ???


See ya D

O.S - But mind you saying that if the situation works visa versa then we would benefit more from the exchange rates and save some money then if thats the case -ROLL ON THE REALS...!!!

Hi all,

I have read a few property facts and articles and it looks like we have no CHOICE but to pay in brazilian REALS!

Aparently from what I understand ALL property purchases in brazil have to go through the brazilian world bank and be paid in REALS -This is considered as standard procedure !!

The reason stated for this is so the brazilian government can keep an eye on all foreign investment transactions happening in brazil!!

Oh well live to fight another day- hope exchange rate goes in our favour....???

See ya D

Hi D

The answer is quite simply that all prices should be quoted in the currency that the Developer wants (has to be) to be paid in. As purchasers we simply do the conversions at any time to our local currency. The developer gets what he wants and we take the risk (or opportunities) with the exchange rates. As its possible to buy your currency up to a year in advance for a very modest deposit you can strike when you think best.

for Margarita bought $s at 1.91 to the £ only for it to go over 2 to the £ the next day ...so what do I know !!!!

Still IPW seem to be on the case here so I'm sure it will all be sorted.

K

Hi all,

KDJX- Just received my official reservation agreement this morning direct from Grupo-Sanchez!

From what I understand they state that the selling price is XXX ammount in euros( so the price hasent changed) but is to be paid in reals instead of euros!

So does that mean we have to figure out not only how to work out converting £s into euros- but then we have to work out converting euros into REALS...???
Im no financial expert here but all sounds too confusing for me- how does it work..???

If anyone can explain or add any light on this that would be great as I dont understand that much about money exchanges or transfers??

See ya D

Hi D

Yes as it stands you will have to worry about £s to Euros and then Euros to Real conversions.

All you really want to know is the fixed price in Reals so you can convert £s to Reals at the best possible rate through your chosen 'Currency Exchange House'. I have used 'Sterling Exchange' who are good but 'Moneycorp' have also been recommended.

If the Reservation Contract is silent on the Euro to Real rate how on earth will the developer know what he is going to be paid ? If the contract includes a pre-determined exchange rate from Euros to Reals then how does it compare to todays rates which is 2.646 Reals to 1 Euro. ? (I have yet to meet a developer who sets rates in the purchasors favour)

If the rate is pre determined you will need to use it to convert the asking price (or deposit) in Euro's in to Reales then convert the Reals back to £s...ouch !

As I said...much easier to simply convert £s in to the purchase currency.

K