buying the land in Canoa Quebrada

Discussion in 'Brazil Property' started by norrus, May 21, 2007.

  1. norrus

    norrus New Member

    Hi,

    Hi to all forum members. I`d like to appologize for my english (I am from Norway)
    Ì`m in process to buy a lot in the Canoa Quebrada throw Braziliafrontbeach.net. I`m just wonderring whether somebody has purchased lots from them and your experience with this company

    Thanks
     
  2. shm

    shm New Member

    Canoa Quebrada-lots

    Hi Norrus,

    I am also debating buying a plot from the same company. I would be interested in hearing from anyone else who has experience in dealing with the company.

    I intend to get an independent lawyer from the one they recommend to perform the due diligence on the land as the company itself seems a little shady to me (based on their webpage, not much info in the company, and I couldn't find anything about them on a web search).

    You are aware the properties currently have no electricity, water or sewerage right? They predict Sept 2007 for electricity but I know Brazil (have worked there on and off over 2 years in the water sector) and you can add one or two years onto that time in my experience. If you are not planning on doing anything with the land immediately, as I am not, it should be no problem.

    What I lilke about the property is that the area Canoa Quebrada is very popular-it is promoted a lot in Fortaleza among tourist agencies and the last time I was in Brazil, my Brazilian friends told me it was a beach I had to go to (but I did not go personally). This property is 3 km away from the main town which could be a benefit or a disadvantage. In any case, I do expect the land to appreciate in value, at least hope so!
     
  3. maurice63

    maurice63 New Member

    canoa

    .

    The web page may not be the best but that does not mean they are shady.
    I have bought 300 lots and a large peice of land from these guys in the last 6 months and can tell you they are not shady.

    These guys have the best contacts in Ceara and know what they are doing.
    They have saved us money on build costs and helped us with all issues regarding Licences.

    10 out of 10 for these guys......
     
  4. olicombet

    olicombet New Member

    hey maurice
    are you not linked with those guys or part of them?
     
  5. pato

    pato New Member

    Im thinking of buying some plots have you had any more update have you been out to see the plots also i heard that they are building a golf course nearby any body heard that one
     
  6. maurice63

    maurice63 New Member

    canoa

    I have been linked to them for 6 months because as i said i have bought many
    lots from them over the last 6 months and can confirm that they are honest and straight forward business people. I am not part of them only a client.
     
  7. andyk2

    andyk2 New Member

    Hi Maurice,

    what is your proposed exit strategy on these? This is a serious question as i have a friend (not me) looking at investing in this project. Also heard that there is an option in place to build. Is that right?

    Thanks

    Andy
     
  8. nickmarr

    nickmarr New Member

    If your worried by investing in overseas property maybe you should consider a International Developers information Pack
     
  9. nickmarr

    nickmarr New Member

    Canoa Quebrada seems a great place to invest in Brazil Real estate land prices are low and near to Cumbuco. Three years ago we sold off plan beachfront property in Cumbuco to investors and now find that they have more than doubled in price. You can find more information about Canoa Quebrada search canoa quebrada land for sale at Google
     
  10. robh

    robh Administrator Staff Member Premium Member

    Hi Nick,

    Isn't the International Developers information Pack just the due diligence that your lawyer should carry out on your behalf anyway when purchasing a property?

    Regards,
    Rob.
     
  11. nickmarr

    nickmarr New Member

    IDIP a new safe guard which allows you to see financial reports,
    legal documentation & ownership details of the developer and development before you make that decision to invest.

    Overseas property investors are using them before they part with their money in over 50 locations worldwide. Some developers are taking them out to stand out from the others whilst some agents are committing to having all their developments under go the legal health check by IDIP.
     
  12. robh

    robh Administrator Staff Member Premium Member

    Does this mean that the lawyers will then give a legal opinion on the developer and the development? Also what recourse does a client have if the report is incorrect and the client loses their money?

    I am asking this because I have had clients ask about these, but we wouldn't use them as we usually go and see the developments ourselves, meet the developers and then get our lawyers to check things out for us.
     
  13. nickmarr

    nickmarr New Member

    IDIP-International Developers Informationa Packs

    This product is managed by Live Organisation an appointed representative of First Title Insurance plc which is authorised and regulated by the Financial Services Authority. First Title Group is a wholly owned subsidiary of The First American Corporation, they not only have the backing of the world's largest provider of business information, but over 115 years experience in property matters.


    The lawyers conducting your IDIP are carefully vetted to ensure they have:

    Knowledge of the local market
    Extensive conveyancing experience
    Excellent client references
    Competitive rates
    A personal approach backed up with high customer service standards
    A UK presence
    Online tracking service technology
     
  14. nickmarr

    nickmarr New Member

    See my post 'Buyers it seems don't trust overseas developers' it has caused much debate.
     
  15. robh

    robh Administrator Staff Member Premium Member

    I think your website answered my questions:

    "The lawyers will give a full report on their findings but will not pass judgement on any of the documentation provided nor will they give their opinion on the developer."
     
  16. beenthere

    beenthere Guest

     
  17. nickmarr

    nickmarr New Member

    Hi your exit plan will be to sell either to locals of overseas investors. Are you sure your friend is getting the best deal. Make sure they are not paying the agents commission on the land price, find an agent that is working directly with the developer and has the best available plots. Not all beachfront land is equal.If they have concerns re due dilegence consider an IDIP or ask the developer to take one out
    More on IDIP

    Canoa Quebrada is set to be a great place to buy land much like Cumbuco a few years ago
     
  18. nigelallen

    nigelallen New Member

     
  19. ady1231

    ady1231 New Member

    Hi;

    So did you buy the land? I am looking in ceara as well, in flexias beach, coconut groove development.

    Let me know How much are they asking, to compare it
     
  20. JMBroad

    JMBroad New Member

    So I'm assuming you have an IDIP on this development in Canoa? Which development exactly is this in Canoa? The one with legal issues which is bigger than Monaco yet pretends to be small and exclusive or the one on the other side of Canoa without licenses? Either way - it has a building license? Or it is classified as residential land which basically just means you can build on it subject to approval of your architects drawings and plans?

    Sorry for the sarcasm but I find it a bit ironic that the person advocating that IDIP's are the safest way to invest is (indeed in your initial post about it you infer that investing without an IDIP is risky, therefore IDIP's are the only safe way to invest), with the same breath, promoting a development which appears to be falsely advertised?
     
    Last edited: Jan 28, 2008
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