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Phillip is correct.

If you are purchasing as a holiday home/ retirements etc then MRI have some great sites/locations. From an investment point of view then its a no show. I dealt with them 2 years ago where me and a firend of mine flew over to see one of their sites in Murcia. We paid for the flights they paid for the accomodation, they were professional and I have no complaints on that front. THe problem is the investment was over priced and not a good investment deal, it was off plan and at present my friend is having problems getting the deal to stack and the mortgage. I decided to follow my gut instinct and not go with them.

Economical with the truth sounds about right. 

Hi Ive heard allot about buy a dream home abroad.com they are a young company and still quite small but they seem to look after there clients very well beacause of this ... hope this helps there number is 01912515252.

lou

I went on an inspection trip to Natal in Brazil with MRI. I've paid for the flight and they paid the accomodation(7 days). Their man was supposed to pick me up at the airport but it didn' show up, so I has to find my way to the hotel. Apart from that I do not have particular complain, they of course try to sell me  some of their apt on their portfolio but I quicly found out that they were abit overpriced. Anyway it has been useful trip to learn about that particular area.

Why would you want to invest in Romania???? Regards, Iain Stewart Whole World of Property 0207 788 7994 07910 891 917

Hi there

 

I went on an inspection trip to Bansko in Bulgaria in February 2008. I did some research on MRI before going on the trip and was wary after reading so many negative reports. The sales rep Mark Winstanley was very pleasant and seemed professional. I didn't like any of the MRI developments but was impressed with some others in the town.
 

Since coming back I have discovered that I have been told completely inaccurate financial information from MRI and their mortgage representatives at the sales pitch, Capital Financial Partners. From my own experience it seems that a signature is all they really want and will pretty much say anything to get it. It is best not to sign anything whilst on the trip and do lots of research on mortgage availabilities and interest rates of the country you are thinking of investing in before you go. Ask lots of questions to see if you are getting honest answers and base your final decision on this.

I personally cannot see why a company such as this has to resort to such underhand methods, they are one of the largest companies in this field and one would hope that they care about their public image. Since returning to the UK and discovering all this mis-information and highlighted these issues with MRI they are not concerned. I certainly would never recommend them to any of my family or associates!

My mistake will be costly and I just hope others will read this and prepare themselves better than I did before making any financial commitment.

How can someone make 'an informed decision' if they are not being told the correct information?

 

Whilst I take your comments re MRI on board I would make the following points:

MRI's sales methods were well documented last year - they are known for pressured sales tactics.

Having said that, aren't they all? The agents job is to SELL, they are not there to help you, the buyer must do their own research & very illuminating that can be! For example 2 years ago we were seduced by an offplan in Morocco - we had not been involved in off plan before. Here is what we thought we were getting vs what the actual situation was:

1. Building permission granted, work to begin Oct 2006 for completion 2009. Only outline permission had been granted. I went past the site 2 months ago & work STILL has not begun.

2. One phase of build only (so no cranes impacting potential rental income or 2nd tranche of newer homes impacting me resale price). MMM...Phase 2 build was recently announced.

3. Beachfront property - wrong, there was a main road between the site & the beach.

4. The main road wasn't actually that busy - wrong, we have visited the area many many times since then & it is a major route.

5.The "innovative financial package" that spreads 25% deposit over 3 years ...that turned out to be a bit of a moving feast.

In addition we heard several stories about other developments - people having bought penthouse partments that were actually refused planning permission, VAT having to be paid when buyers had been assured that it was not the case, artificial bumping of prices to make investors feel that their paper profit was greater (v.v. common) All anecdotal - but a LOT of it.

Personally after that experience I'm not comfortable with off plan - we went for renovation instead which, although challenging, I thoroughly enjoyed...& I felt much more in control of my money & of course, the end product!

So Caveat emptor, (then double that) when dealing with all agents..not just MRI!!!!

Just want to add my MRI experience which was (and is) in fact very positive.

Had the same process as everybody else (I paid for flights, MRI paid for hotel) was picked up and dealt with very professionally. I would agree they are hard sell, but as one of the posters previously said, isnt that the job of a sales person. In fact I didnt feel pressured at all and all my questions were answered clearly.

We had already done a lot of research and when we went on the trip were shown a number of sites and especially one that really suited us which I have purchased... the process to date has been quite painless, the site is moving forward and in fact there is a view that it may be ready early.

 I think I would agree that purchasing this way is not so good from a straight investment point of view but we are looking to retire there so I guess the calculations were different.

I would suggest that as long as you complete your research and know that you want to buy in the area then MRI as as good or as bad as any other agent

Hope this adds some balance

MRI sold me an apartment at the back of Lamezia airport Calabria Italy. If anyone else has bought into this please contact me ASAP leon.mcavoy@gmail.com I may be able to help you as I am based here ( Italy ) or at least give you the answers you have been asking for.