Hi Mike/Angela,

We have investested in T2 apartment and have signed on for rental agreement. On 14th May sent over the first installment for the furniture package, still waiting for confirmation that funds have arrived.
Will keep you posted!!

Regards
Raymond/Diane

So, you are going to get (if you are lucky) 60% of 75%, i.e. 45% of any rental. Doesn't look so attractive now, does it ?. As for when the guarantee runs out........

Hi, just came accross this forum last night, I have also invested in a T2 apartment after a visit. I was led to believe like other investors that although Imocon were going to rent this complex it would be through the Hilton group, as they have built other Hilton hotels. I was also assured that we could use the property for 3 months at any time of the year, now it appears that if I want to use it in July and August I will have to pay with 20% discount. I had no intention of using it, as it is clear that this is the peak rental opportunity, but annoyed with the false promises. The most disturbing issue that I signed this agreement without knowing, as the solicitor only sent me two pages via email(unknown to me) which didn't include the finer details. It was only when I received the pack from Imocom that I became aware. I have since been in contact with the solicitor, with little success. I'm very nervious about the whole affair. When we signed in july last year, there was supposed to be only 16 T2 left, and no T1. If I could pull out I would, but have paid 30%.

Hi Mike & Angela

When you refer to the rental scheme are you talking about the straight forward 60/40 split scheme or are you talking 5% guaranteed return scheme?
We are on the 60/40 split and our deadline for the furniture package money in 2 installments was January and March. We seem to have parted with our money a lot earlier than others?

That aside can I just raise the issue of snaging. Do you have an independant looking at the snag list for you. The agents with the three letters are expecting to do this for us (for a fee) but we are nervous at letting them anywhere near it. Would be grateful for any suggestions as to who could look at this for us as we will not be around in Portugal at that time.

Many thanks
Vanessa

Hello Dave

I am too embarrased to tell you what we have paid for the furniture pack but lets just say it more than 7 times the figure you have quoted. Obviously must be very different!

Anyway, thanks for the post. This is not our first overseas venture but we feel as if we are in the middle of a minefield. I am looking to find someone who can help me with the translation of a mortgage agreement into English. Can you make any suggestions?

Thanks
Vanessa

Vanessa,

Are you saying you paid more than 24,000 Euros for furniture for a 2 bed apartment ?.

Hi!

It seems very expensive, even if the quality is very good.

best regards

luis

I believe if you are renting through Imocom, then the furniture package is around 24,000 euros.

You got it. However, I believe (well hope) that we are all paying the same for the furniture packages at the resort?

regards
Vanessa

Vanessa,

That seems like an awful lot of money to shell out, and a long payback time. did you see the package before you paid ?.