Hi Vanessa,
We have had no information from our lawyers, in fact during our "discussions" regarding the rental agreement, it felt like they were actually acting for the resort and not for us!
The rentals do look very low, but Imocom are saying this is a "discounted" first year offer to get the place established.
I'm afraid we don't know of a translator, and there have been times when we have encountered exactly the same problems as you in various organisations sending us portuguese documents with then quite a protracted struggle to get translated ones.

lets keep in touch


regards


Mike and Angela

Dont know what your paying for your furniture pack,i work alongside a company that for a T2 quote you 3,500€ (interior designers)
you can pick N mix & add to it,let me know if your interested.
I am an real estate agent ,English lived here 18 years,just hate people being creamed alot more money than they should be paying,Just a service we provide for our clients.Even FREE fiscal representation,& proper aftersales service Free.good luck with your 1st oversea venture.Let me know anyother advise you need.
Dave

Hi Faye / Matt

I've been told 1st July by the Portuguese estate agent today

Cheers

Simon

Hello All,

I have just found the forum which is very intresting reading. I have purchased a T1 in Monte Santo. If any one could update me on the current situation regarding completion date it would be much appreciated. Also if any one has any further information with regard to the rental contract that is on offer, again, this would be very much appreciated.

I am currently out in Afghanistan so this is my only source of information regarding the Resort at the moment.

Thanks

Les B

Hi Les

Looking at the recently supplied information have IMOCOM posted out to us, it would seem to indicate 15th June time for completion of the building works, with deeds being signed sometime in July. From all accounts looking at different threads on this web site, the feeling is these dates will be missed. If the dates are hit,, then I believe between the 15th June and the deeds being signed sometime in July, there will be a time for the owners to go over to complete the snag list review before signing the contract / transfer of ownership from IMOCOM to the owners.

Still have not booked flights to get out there as concerned they wont hit the release dates......

On the renting side of things we puchased ours fairly early on and opted for the 3 year rental programme, although we were told of the time, they would not be able to offer this option to all of the owner. I recall the Portuguese estate agents we purchased it through said we were the last ones in on the 3 year deal. However I believe they are offering other schemes of duration and % split of the rental.
Looking at our reservation contract that will become the Promissory contract there are certain terms in there regarding the rental side, although I believe the finer details are still be to issued / sorted

Regards

Simon

Hello Simon,

Thank you very much for your timely reply. I will send some emails out tonight to confirm rental programme. i will be visiting Monte Santo between 10th - 17th July.

I dont have a choice with the dates, as this will be the only time i can get out to see the resort for a while.

If i can assist in any way during my visit, please dont hesitate to drop me a line.

Kind regards

Les B

Hi Les

We have also bought a T1. The completion date is currently looking like mid Jun - 1st Jul. If you are in the rental agreement you won't be able to stay in the apartment in Jul and Aug.
The rental agreeement is for 3 years although we spoke to our soliticitor and agreed a 1 year agreement with a view to extending it in year 2.

Let us knowif you need any more information

Jenny and Richard

Hello Jenny, Richard,

Thank you for your reply. I have sent a couple of emails out to individuals who will be able to pass on the relevent information. If i hear anything between now and my visit i will keep you updated.

Thanks again

Regards

Les B

Hi everybody, just joined and wanted to share some info re MSR. Went over in early April to review progress and take a look at our T2. A lot of work still to do but not impossible. I have been corresponding recently with Azy and something everybody involved needs to be aware of.It is Imocoms intention to deduct marketting and commission costs from rental income before the 60/40 split. These he advised are between 20-25 %. We told him that is not what we were led to believe and that this is not acceptable. I suggest you all get on the phone to tell him the same.
Watch this space.

Hi everyone,

Has anyone in the rental scheme been asked for or paid the first instalment of the furniture package, which I recall was due sometime about now?

Regards

Mike and Angela