-
Special payment conditions Ciudad Patricia summer 2008
(July and August)
-
Option 1: Buying Uso Vitalicio with rental conditions
This option is available only for clients whose assets are not sufficient to buy Uso Vitalicio and need to sell their home before buying.
Terms of payment.
-
5% deposit of the price of the apartment in Uso Vitalicio together with the signing of a contract
-
Monthly payment of € 1.250, starting from the date of moving into in Ciudad Patricia, until own home is sold. In the event the home is not sold within 3 years, the monthly payment will be raised from €1250 to € 1300.
-
Payment of a guarantee of € 2.500 as per the Uso Vitalicio contract
-
Once the home is sold, the total amount paid to date, (deposit and monthly payments), will be deducted from the price of the apartment. The final balance outstanding must be paid within a week after the transfer of own home.
-
In the first year no interest is due and payable. After the first year interest will be charged at the 3-months euribor rate plus 1.5% on the outstanding amount.
-
Community fees must be paid from the date of moving in to CP and will not be refunded.
-
Cancellation of the contract will result in, the 5% deposit and the monthly payments being forfeited.
-
Option 2: Buying Uso Vitalicio with mortgage conditions
This option is available only for clients whose assets are not sufficient to buy Uso Vitalicio and need to sell their home before buying. The home in question must be worth 1.5 times the value of the 85% value of the Uso Vitalicio price.
Terms of payment
-
5% deposit of the price of the apartment in Uso Vitalicio together with the signing of a contract
-
10% deposit on moving into Ciudad Patricia
-
85% Final balance due within a year of contract signing.
-
In the event that the home has not sold within one year, the owner will give ACP the right of a mortgage on their home as a guarantee.
-
Interest will be charged at 3 months euribor plus 1.5%
-
Interest will be charged on the outstanding balance.
-
In the event the home has not been sold within 2 years, owners will have to have their property valued by a licensed assesser and offered for sale at the correct market price.
-
In the event that the home still has not been sold within 6 months, ACP will value the property according to market trends
-
The fees for the mortgage will be 2%
