Singing Pig

Hi Janet

 

I am sorry about your experience in Florida, I was going to buy there last year but everyone kept saying its saturated etc. I have been proposed properpty in Bahamas but there are so many scams out there now I am really becoming quite sceptical! I have just signed up for a USA buying trip and parted with £5k. I have yet to see if Ill get my investment + more will keep you informed!

Good luck in other endeavours.   

Amanda  

 

Amanda - if this is a buying trip with Inside Track - pleeeeeease  just cancel it - even if it means losing £5k   .....   they are NOT acting in your best interests on any level  -  they made over £20m profit a couple of years back - and yet -  in spite of this forum having  been vociferously anti-IT for the last 4 years, only one poster has ever come here to defend them  - and it turns out he worked for them  -  hello Niel if you are still there !

 

You can barely trust property sourcers who work in the uk - and at least if they are based here you can go knock on their door and try to get some recompense if things go wrong - but in the US ??? 

 

my crystal ball tells me that -  i see shed loads of money being spent on fruitless trips to the US for you - and you will still find yourself in Janet Lays position .......

 

Dont think it wont happen to you .........  

 

£5k is a huge  chunk of money to lose  -  but it is a tiny drop in the ocean  when compared to the many stories of folks  -   like Janet   - who are now in positions of having to sell their homes because they have to raise extra capital to finance these deals on completion.

 

IT have settled out of court several times when punters have taken them to court, but, be warned, you need to be made of exceptionally stern stuff to take them on  -  all their  paperwork is filled with disclaimers "property goes up and down blah blah"   and they now focus their advertising as "we are an education company"  

 

if you want to chat to me, send me an email and phone number and i would be happy to talk to you

 

bw

 

clottie 

Janet

many thanks for your response. I have phoned the developers to get my money back, however, they state that the building is now complete and furnished and are now just waiting for the Certificate of Occupancy.  I'm guessing that the building you were to purchase wasn't complete when you asked for your deposit back?

 

Regards CD1

 

 I know Bahama Bay and IT well.

 Many people I know (VI’s) involved in the Florida market tell me that with prices down by 25 to 35% now is a good time to pile back in!!!

Watch out, there’s a Hurricane acomming!!!

 

http://globaleconomicanalysis.blogspot.com/2008/02/blacklist-domino-effect-about-to-hit.html

 

Be very careful in Florida/US and any markets around the Caribbean eg. Bahamas that are associated with it. In my opinion prices still have quite a way to fall from the peak of late 2005, and history shows they take a long time to recover from a bust like this.

   

 

clottie,

 

It appears from another thread that Amanda is dealing with Ajay..........

aha  .....  so what is our response to that ??

Hi, I decided that as we apporached year four of this that they must be in breach of contract so Iasked for my money back. I've heard form others who are doing the same thing since thier properties are in the same state and the morgage crisis is, I would guess, making it extremely difficult for some or even many to obtain mortgages that are reasonable. Fuel did not help me in the end since the property process dragge on and on and I kept sending fresh information over and over. Someone asked me - if this deal were ont he table now would I go for it ' buying into negative equity - I don't think so'. So I did battle with IT and pulled the plug. They did not give me my money back (developer did no quibble) saying that they had done thier due diligence, and it was stil a good deal (bah humbug!!!!!) I lost the last of my money with these xxxxxx so I can do no more than sulk, can't even take them to court. Uless anyone knows different?

What did you do in the end and what is happening now? Have you actually met anyone who is happy with thier experience with IT? I am keen to hear from anyone

 regards to all

Coventry Kid

 

 

 

we have also purchased at Bahama Bay. Really disappointed paid $217,000 for a three bedroom condo-due to be completed March 2007, finally finished Feb 2008. In the meantime, Fuel USA decided that they were not going to offer any mortgages-the new company ANC, who IT found for us can only arrange 70% repayment mortage (instead of the 80% interest only mortgage IT said we would get)  To date, heard nothing from IT or the mortage company. We did got out there last year and stayed in Bahama Bay, and it is a lovely development and extremely well run. However, this new development almost doubles the size of the complex, which inevitably will reduce occupancy levels. Given that our mortage costs will now be double what we were first quoted, I am really really nervous!!! I have written to McKay, CEO of inside track and asked him to buy mu unit of me, and copied in Duncan Farner at the Mail on Sunday-suggest everyone does the same. Hope this helps