Skyline if you can wait it out

spartacus


Joined: 09/07/2009
Posts: 1

Message Posted:
09/07/2009 20:08

Seems to me like with possible reunification or two recognized Republics like in Northern Ireland,Republic Ireland possibly on the agenda and Skyline,s shell almost complete getting rid of contracts for other units is a great tactic especially if clients are older and have already waited a long time.I got in at 23-000GBP and im thinking now they think they have undersold and can scaremonger people who cannot wait and dont want to risk losing their investment.I Know this development will be completed one day and i have been waiting since 2005 and i will wait till 2015 if i have to.This is a classic case of scaremongering,those who can wait hang in and your rewards will be fortcomeing.

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
09/07/2009 20:18

How interesting and exciting! It's your first post, spartacus - I can hardly wait for number two.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/07/2009 20:33

Hans



Give spartacus at least 6 postings before you launch your full wrath on him/her!



Richard

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
09/07/2009 20:44

RE msg 3, Brinsley: OK. Fair enough. But only if you explain to me what his postings are about...

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
09/07/2009 20:53

Hans



The bent/crooked builders/developers feel that if they delay completion of their sites that those who have paid in full when the 'market was low' will walk away so that the bandits can resell at a higher price. Though recent World events have over taken them. Clear as mud?



Richard

Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
09/07/2009 21:18

Is this something to do with the thread Skyline Residence Completion started by Tapps? People fed u of waitng and being offered other properties.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
09/07/2009 21:37

Hi Woodspeckie,



Hit the nail on the head. My guess is Ali Safa is looking for someone to take this white elephant off his hands without any units having already being sold. Then the people that buy it, can then charge more for the units.



The butler

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
09/07/2009 21:39

No one has got a crystal ball so there is no guarantee that the builder will complete the development.



Developers are struggling in the TRNC and there is definitely a down turn in the market, as there is in most of the Mediterranean.



Bear in mind that this developer already has mortgages on may of his other developments. The TRNC is unfortunately littered with half finished developments. Many people have lost thousands of their hard earned money.



The builder may well do what you describe but there again you might refuse his offer and end up with nothing. Either way its a gamble.



One thing I would do if I was purchasing on one of his sites is suggest that any money paid for the property is given directly to the bank to pay off outstanding mortgages. As several people are in this position its a good time to use it to the advantage of all purchasers.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
10/07/2009 01:03

Hi Bradus.



What a kind suggestion. We are in this position of owning one of Mr Safa's mortgaged properties, it would be wonderful if every new purchaser could insist that their money went to pay off this mortgage but alas I think it will end up lining Mr Safas pockets.





The Butler

Sandcastle


Joined: 16/03/2009
Posts: 215

Message Posted:
10/07/2009 13:13

Under the new laws last year, our Advocate did a search on our property and many others at Hilltop to find that they are not mortgaged. Our interest where then registered to stop any mortgage being taken out.



It is sound advice for anybody purchasing a property, either finished or off plan to get your Advocate to do this check before purchase, and register the new owners interest.



I know that it is now easy to say this in hind sight, and I admit it was not something we did before purchasing as we did not know about it but now we do, it is a must for all new purchases.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
10/07/2009 15:09

Hi Sandcastle,



This is sound advice, unfortunately for the Medview home owners at Esentepe when they bought their properties there was no mortgage on them. I did not use Mine Konat the lawyer that Medview recommends but we got our own independant lawyer. When she did her research the land and property were mortgage free, that was in June 2006. When we came to register our properties in March 2008 we discovered that Medview had taken out a mortgage on our properties in November 2007 without informing any of the owners. Todate we cannot get any information from Medview as to how this mortgage is being paid off. When it will be cleared, we have asked for statements but they are not forthcoming. Can you please tell me what else the owners can do, as any advice would be greatly appreciated.



The Butler

Sandcastle


Joined: 16/03/2009
Posts: 215

Message Posted:
10/07/2009 17:10

Hi Butler.



I have no idea. I realy feel for you with this. We could so easily have been in the same position. As I said, we did not check before we bought just when this new law came in.



The only thing I can suggest is to get incontact with the Home Buyers jpressure group for advise. Also, is Medview on your contract? If so, are they a UK registered company and therefore have to comply with UK law? May sound a silly question but I know they have many companies and sometimes put Elan properties on the contracts instead of Medview.



As for new buyers, no matter who you buy through get your interest registered before you pay!

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
10/07/2009 17:53

Hi Sandcastle,



Akthough Medview Homes is on our contract, I remember we paid our cheque to Elan properties. We did not buy off plan, as we did not want to take this risk. Consequently we paid more for our property and thought we would be safe. How wrong we have been, we are left with a property we cannot sell because of the mortgage and it has gone down in value because of the economic turn in the market. We will just have to ride it out and hope for an upturn and that Mr Safa pays his debts. Would I buy from Medview again, absolutely not?



The Butler

mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
11/07/2009 12:16

Taking a brief look at the latest Medview newsletter, many statements are incorrect, s many it is not worth repeating them here. An excellent production of a newsletter but as usual ful of Bull**** from the Medview group. Most purchsers have now twigged the Medview style of lots of hot air and very little action and dismiss most of what Medview publish or say with no more than a cursory glance and that is sad as the company with a little bit of genuine concern for their purchasers could have avoided the perception that most owners now have of them. I confess I was a great supporter of them but reserve my judgement if I will be in the future.



My biggest problem with them is the sheer arrogance of their behaviour, what they do and how they act without consideration or concern for the people they serve as a managing agent. They wil not listen to anyone and their way is the only way and will remain so until owners are in a stronger position to address hese needs.

jessiela


Joined: 29/07/2009
Posts: 3

Message Posted:
29/07/2009 14:21

What if Medview were to go into liquidation, would the hotel be auctioned off and the proceeds split between all of the creditors, might not get anywhere near the amount that we have invested

studleylad


Joined: 01/08/2009
Posts: 3

Message Posted:
01/08/2009 21:36

Has anyone got any advice for me, medview have asked me to swap from skyline to one of thier completed properties. Is this a bad idea? I cannot make my mind up which way to turn!

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
02/08/2009 00:15

Hi studleylad,



If I were you, I would swop because at least then you would have something to see for your money.

The Forest golf & beach residence is a well planned site and it is under the management of a very good management company. It is fund managed and has a very strong and active committee. Since moving away from Medview Management in April, the site has improved and will continue to do so. All the owners are happy that they are getting value for money now.



The butlers wife

jessiela


Joined: 29/07/2009
Posts: 3

Message Posted:
05/08/2009 12:10

You dont get a lot for the amount that you can trade the Skyline rooms in for, remember the rooms in the skyline are being sold or at least advertised for double the amount that you bought them for if you bought right at the beginning.

The truth is Medview want all private investors out of the Skyline, they wouldnt be offering an exchange for a property that they could potentially sell to someone else, if lack of money was the reason that they have stopped building the skyline.

The Skyline changed part way through from a smaller project where private residents would be acceptable, into a grand 5 star complex and casino where private residents would be a definate no no. They have I believe been in talks with other hotel chains about selling the development, any potential buyer would dismiss it with third party investors involved, even if Medview went through to the end and managed it themselves, private residents would have to go in order to maintain the 5 star luxury ethic expected.

mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
05/08/2009 21:33

I sincerely hope that Medview do not go broke, it would be no help to anyone. They do have serious cash flow problems and that is why they are trying to reorganise clients at Skyline with alternative units. Buy at SBC where no mortgages exist on any properties and deeds are well undeer way for issue, its your safest bet.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
06/08/2009 12:53

Hi Mikemans,



Can you tell me how many apartments/ properties are left at SBC to transfer to? Surely there isn't enough for all the investors to transfer there. I do know some have already transfered to Esentepe, where the mortgage will be cleared in October 2009. I am confident of this, so it shouldn't be a concern for these poor people.



The butler

mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
06/08/2009 14:18

Hi Butlers, I understand that Medview have 18 apartments in total that includes commercial conversions which may or may not be communal property. Advocate has suggested they are communal, Medview refuse to discuss or prove they own them. In addition about another 40% of the site is up for sale by private owners at very keen prices somewhat lower than Medview are asking. You are right to say not all Skyline buyers could accept a property at SBC. Essentepe is a beautiful development and in the future will be part of a developed urbanisation, I paricularly love the single storey villas and I am sure that owners there will enjoy many years of pleasure. Medview owe money on a mortgage, lets hope the mortgage is repaid in November and as I have said on many occasions, although I have my personal issues with Medview and have very little faith, trust or confidence in them, it is in all our interests for them to continue to prosper, or none of us may get our deeds if they fail.

Chegwin


Joined: 24/03/2009
Posts: 775

Message Posted:
06/08/2009 14:40

Hi mikemans

Could you further clarify what you mean with " Essentepe is a beautiful development and in the future will be part of a developed urbanisation," ?



Looks pretty complete to me.



Thanks

Chegwin

mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
06/08/2009 17:54

Urbanisation, refers to the local area in general, the development of a marina, shopping malls, villages etc all add to what can be described as urbanisation. Of course Medview's Essentepe development is finished but no doubt many years of building around it will continue.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
06/08/2009 18:42

Hi Mikeman,



I wish I had your optimism, who is going to buy all of these new buildings you speak of? I have seen a very definite slowing down of building works on this coast road. With the present economic climate and the uncertainty over the Orams, together with the AGA buyers protest in London. Oh! and I forgot to mention reunification, I cannot see this happening. I think the marina will go ahead, as it has been planned a long time. For me personally, I hope the area stays as it is, unspoilt and beautiful. For those who want more in the way of entertainment and nightlife, let them go to the Lapta strip. A few more shops would be nice but that is all I ask for.



The butler

Chegwin


Joined: 24/03/2009
Posts: 775

Message Posted:
06/08/2009 19:33

With you on that one Butler.



Chegs

mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
06/08/2009 23:48

I am afraid that greed and corruption will win out in the end, maybe not in my lifetime but as sure as night follows day the TRNC will be no different from its predecessors throughout history.



I agree with you that we all wish the current charm of North Cyprus would be like it is now forever