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05-31-2008, 05:47 PM
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#1 (permalink)
| | Just joined
Join Date: May 2008 Location: Near Madrid
Posts: 7
|  Hello Guys and Girls
Hi to everyone,
I would like to say what an excellent site this is. I have been looking in from time to time before I came over to Spain.
I look forward to chatting to you all. | 
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06-01-2008, 09:11 PM
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#2 (permalink)
| | Advancing Real Estate agent
Join Date: Mar 2008 Location: La Herradura, Granada, Spain
Posts: 98
| could not access website
Hi Keith,
I could not access your site, can you tell me a bit more about what you do?
Thanks
Emma marketing solutions for estate agents in Spain | |
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06-02-2008, 12:08 PM
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#3 (permalink)
| | Just joined
Join Date: May 2008 Location: Near Madrid
Posts: 7
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Hi Emma,
The site is working now. It was down for some changes etc. (webby stuff)
We basically, take purchase contracts (unwanted) from clients wishing to get out of a purchase and put them into an investment portfolio for our clients who are looking to build up a rental company.
There are also some private buyers around who will take them over.
The original contract owner will not get much for them as they seem to be a liability but at least they donīt have to find the balances.
Check out the site now itīs up.
Regards,
Keith. | |
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06-02-2008, 07:00 PM
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#4 (permalink)
| | Just joined
Join Date: Jul 2007 Location: Guardamar del segura
Posts: 3
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Hi Keith,
I was firstly quite suprised and secondly quite intrigued by what you are doing.
I have been a memeber here for almost a year,i have always watched but never dabbled.
we are estate agents on the costa blanca,i have a few people looking to get out of Polaris contracts,is this something you deal with?
Regards
Remmy | |
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06-02-2008, 07:47 PM
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#5 (permalink)
| | Just joined
Join Date: May 2008 Location: Near Madrid
Posts: 7
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H Remmy,
I am getting constant grief from the UK office to acquire Polaris World contracts. We sold everything we had last month, though I had nothing to do with it as I was new to the company.
I took a trip down to Murcia and visited as many agents as possible in 3 days. They were all saying that PW contracts were abundantly available but I never found one!
If you have any clients that need to move them on let me know as it would appease the powers above.
You can email me as below.
Mant thanks,
Keith | |
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06-02-2008, 10:26 PM
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#6 (permalink)
| | Just joined
Join Date: Jul 2007 Location: Guardamar del segura
Posts: 3
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Keith,
I have several clients who are trying to sell their contracts and will be in touch shortly.
I take it you wont be guaranteeing a profit,what is the best case that you expect to achieve from the sale.
You say you have sold some before,what sort of timescale do they generally take to move.
thanks
remmy | |
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06-03-2008, 04:14 PM
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#7 (permalink)
| | Just joined
Join Date: May 2008 Location: Near Madrid
Posts: 7
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Hi Remmy,
Sorry no profits will be achieved by any contract owner at the moment. The situation is the same for any homeowner. As I understand it, most resale properties are down 10% to 30% and in some cases more. The banks are also offering repossessions at up to 50% of normal market prices.
Contracts with less than 3 months to completion are likely to only achieve about 5%-10% of their value. Contracts with a year or 2 to run are fetching better prices, around 20% to 40% of their original value.
Our buyers will normally take out a mortgage on completion and will have to weather the difficult rental market as well as pay a high percentage mortgage interest for a year or 2. Their plan is to wait until the market upturns, so by then they would have paid considerable mortgage repayments.
The buyers/investors are taking a gamble which explains why they do not want to pay full price.
There are some contract owners who are at the point of giving back their contracts and losing all their deposits. Thatīs where we come in as we can at least get something for them. There is no charge to the contract owners, the new buyer pays all the transfer and legal fees, which is another reason why they are looking for keen prices to begin with.
I have no shortage of investors, they have been in the line for some months, they are just waiting for a better flow of contracts.
I hope you can help.
Regards, | |
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07-31-2008, 07:48 AM
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#8 (permalink)
| | Just joined
Join Date: Jul 2008
Posts: 10
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Hi Keith,
Welcome here And have Fun over here This Forum is best And yeah thank you for sharing such a wonderful thoughts With us  | |
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08-11-2008, 12:14 AM
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#9 (permalink)
| | Junior Real Estate agent
Join Date: May 2008 Location: Mijas, Costa del Sol, Spain
Posts: 26
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Hi Keith,
Welcome to the Spanish real estate forum, i'm sure you'll find it useful here, if we find anyone interested in selling we'll give you a shout
Good luck with it
Hasta luego | |
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08-11-2008, 12:31 PM
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#10 (permalink)
| | Just joined
Join Date: Aug 2008
Posts: 4
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Hello all
I am new here.I am sreeja.I am from India. I am working in a private firm. Nice to meet you all.This forum looks so interesting.Hope i can enjoy stay. | |
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