Lanzarote resort apartments for sale Start Price USD 167,000.00 Current Price USD 167,000.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Thursday, September 18, 2008 End Time Saturday, October 18, 2008 Location Sharpthorne, West Sussex See more about 'Lanzarote resort apartments for sale' Description With a choice of four swimming pools, pool bar and children's play area situated in a picturesque garden setting, these apartments are the perfect choice for couples and young families looking for a quiet relaxing holiday. Location 550 metres from the nearest sandy beach. Approx. 800 metres from restaurants and shops in Playa Blanca centre.  Normal 0 false false false MicrosoftInternetExplorer4 Cost: The purchase price for a unit: 115,000 Euro Total financing (mortgage from Caja bank): 94,300 Euro, which can be paid for a period of 15-20 years (450-550 euro per month). The required equity capital: 19,000 Euro (Approx. £15,500) Rent income guaranty from multimatrix: 390 euro per month for 24 month.   (Exchange rate used: €1 = 82p) Financing for the Purchasers:   —        The bank which is accompanying the project is la caja de Canarias has performed a value estimation on the project in which the evaluation stands on 145,000 Euro per unit (the value of the land + the structure). —        This fact has assisted the company to consolidate a mortgage agreement with the La Caja bank for the potential buyers of the units of about 96,000 Euro per unit (which is about 70% of the value evaluation as made by the bank). The mortgage can be granted for 20-30 years (depends on the buyer) and the interest rate is Libor Euro + 1.5-1.75%. —        All the terms of the mortgage has already been settled between Multimatrix and the bank so there is no need for the buyer to try and persuade the bank to give a mortgage, he simply have to choose your terms (such as period for the loan) and receive the finance, without even having the need to arrive to the island. Purchasing Option: Each buyer can choose one of the following option when he purchase his unit, the buyer can change his preference at any time and is not oblige to commit to a certain option. Option A – join us at the sun park hotel —        Free stay: The buyer (or anyone on his behalf) is in title to a 3 weeks stay a year at the unit for free (a prior notification of 30 days is required in order to verify that the unit is available). —        Permanent discount: At any time during the year (other then the 3 weeks) the buyer can come stay at the hotel at 25% discount on the rate at the time of arrival.  —        Profit: For the rest of the year the unit is being rented by the sun park management company and the buyer receive every year his relative part from the income of the management company from his unit. —        This way the buyer can use the income from his unit to pay the mortgage. Option B -  manage your unit independently —        the buyer can choose to rent the unit by himself, in this option he can use the unit as much as he like as well as making a profit out or renting it to friends or anyone else. There are many websites on which one can advertise his unit for rent, sun park hotel management will be happy to assist the buyer to rent his unit. —        No time limitation: The buyer (or his family and friends) can stay at the unit at all times with no limitations —        Permanent discount: There will be a discount of 25% on the restaurant meals rate for the buyer or anyone else that uses the unit (friends, family, sub rentals). —        in return to the use of the public facilities of the resort such as pools, gym, kids club, game room etc. and in return to the costs of water, electricity taxes etc monthly fee of 88 Euro has to be paid to the management company (this will be examined every year and may be updated according to the actual costs). —        The person who is using the unit can ask for cleaning service at the cost of 18 Euro a day.   How does it work?   —        A person who is interested in purchasing a unit need to deposit  1,000 Euro. —        We will be in charge on all the procedures such as mortgage, registration at the notary, issuing a local identity number etc. —         at the end of the process (which takes about a month) the buyer has to complete the equity capital needed.  Place a Bid!