Buying in Italy (Borgo Novo)

Honnie

Would love to chat to anyone that is in the process of purchasing a property in Pizzo, Italy.

italiano1

Honnie wrote: »

Would love to chat to anyone that is in the process of purchasing a property in Pizzo, Italy.

Hello there , I am also buying in Pizzo "Borgonovo" and I have just received a letter from G&L requesting the final transfer of funds and an invoice for their fees. To date information on the progress of the site and be very lmited from VFI and is usually as a request from myself to them. The most up dates I can get are from the CMS website and other similiar websites.
I also have to contact G&L reqarding their final invoice as there are charges there that i was not aware of . ( I thought the 1% of purchase price would cover everything ). I would also like to hear from other people who are buying there. Regards

Victor

As always, especially when buying abroad, make sure that you have independent legal advice.

I have no knowledge of this development, but never depend on someone who is connected with the transaction.

jovanotti

Hi Honnie and italiano1,
I am new to the forum. I also am in the process of purchasing in Borgonovo. I have been having some trouble with G&L and also just the other day was informed that (among other things) there is water damage in my apartment. I have no idea as yet how this happened - I had visited in Sept and all was well then. Needless to say I am not very happy about the situation.
If anyone has information on any of the following I would be most grateful to hear from you:
1. Alternatives for solicitor.
2. Mortgage applications.
3. Anyone else whose apartment has been damaged by water or who has a ground floor apartment.
Cheers.

cavanaryan

hi there,

I'm also in the process of buying in the developement.
Has your apartment been completed yet?
How is the development looking. I also want to ask you on Giambrone and Law and your dealings with them. i'm unhappy with the way they have developed everything to date and wonder am i stuck with these guys to represent me?

Your feedback would be greatly appreciated.

Thanks.

Victor

cavanaryan wrote: »

I also want to ask you on Giambrone and Law and your dealings with them. i'm unhappy with the way they have developed everything to date and wonder am i stuck with these guys to represent me?

I have no idea as to context, but in most circumstances it is best to retain your own advisors and not one suggested by the developer.

chicken fingers

Look at similar threads on askaboutmoney started in 2005-2009.

Foreign property development built by foreigners specifically for other foreigners.
People who stand to profit from the "deals" misrepresenting themselves and posting on forums.
Developments not being completed on time, or at all.
Serious problems getting information out of the developers.
Lawyers are too connected to the deal.
Buyers using the internet to find other buyers so that they can get information or start legal proceedings against the developers/etc.
Hidden charges springing up at the last minute.
Finished property not being as described from plans.
etc etc.

As these threads developed, it usually leads to the same thing.
Half finished results, people not happy, legal proceedings, loss of money, and so on.
Have a look on the site I just mentioned, and see if you notice many similarities between your case and all of the 1000s of examples of failed foreign investments by amateur Irish buyers.

If you notice any more than 2 or 3 things in common, its probably worth asking yourself are you being duped and is this really the best way to spend your money?
Please consider the possibility that you are better off losing your deposit and walking away.