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La Baie Panoramique

Discussion in 'Morocco Property' started by mnaim, Jun 8, 2008.

  1. mnaim

    mnaim New Member

    Does anyone have any information or personal experience with La Baie Panoramique? I have heard back from two agents with conflicting info - one agent says they are sold out, the other agent stated they do have limited availability and quoted which buildings have the apartment style that I like.

    I'm concerned that I might be misled, like buying a used car, only to get to Tangiers and learn the agent was dishonest. Is this practice common in Tangiers? How do you know that you're getting a reputable agent?

    Thanks in advance for your help!
     
  2. milktrayman

    milktrayman New Member

    I cannot tell you the state of the sales but I did go out at the start of April, and this was one of the projects we went to see.It is far back from the beachfront and higher up the hill.Personally I do not think the view is fantastic as they make out from the "sea facing" apartments. The build quality looked good and the show apartment was very nice, but aint they all? The thing i found with Tangiers is it is a great place to invest and I can see the potential, it is a fun place to stay as well , with lots of building projects going on. I would say that the nicest place to invest is the Malablata area of Tangiers personally
     
  3. The Soup Dragon

    The Soup Dragon Senior Member

    Welcome mnaim. It is common for different agencies to have different sections of a development on their books. (The developer often parcels off sections of the development for one agency to market exclusively.) If that’s the case for this development then chances are one agency has sold their allocation (or had right to sell the development withdrawn.)

    Similarly, if the developer has a website it is possible that it shows very few units being left and most others having been reserved. I’ve seen this happen where the developer has parcelled off a section exclusively for one agency. (These appear as reserved until the units are sold.)

    As for finding a good agent, try speaking to a number of agents and see who you get on better with and who you think will be more helpful. Putting feelers out on these forums was a good idea – someone will have had dealings with them and be able to say a few words for or against them.

    One final note of caution with agents. Remember that their interest in you will diminish either post sale (they receive their commission shortly after your first instalment) or when they stop promoting a development (they will likely offer reasonable post sale service till they move on as won’t want you having any reason to be critical of them when it can affect their sales on that development.)
     
  4. mnaim

    mnaim New Member

    That makes a lot of sense. I didn't think about that. Thank you!

    We've been in touch with two agents so far. The one who quoted availability offered to call me in the US this morning to discuss things. I need to compose a list of questions before I'm ready to speak with him. Can you offer any advice on that end?

    In the meanwhile, I'll do my due diligence to research the agents, checking the forums to see if their names or companies produce any search results. Other than that, I think you're right...it's all about the chemistry and the service I get pre-sale (and hopefully post-sale if we're lucky).

    Thank you for your help!
     
  5. The Soup Dragon

    The Soup Dragon Senior Member

    Don’t commit to buying through him / her. Let them know that you have found them helpful so far and that you are interested, but that you will speak to a number of agents / industry experts as part of you due diligence before reserving. (Reservation deposits are often fully refundable for a short period, but you don’t want the hassle of getting them re-imbursed if you don’t proceed after performing your due diligence checks. Have heard stories about people waiting months to be re-imbursed.)

    Industry experts you can consult are other agents, tax experts, solicitors, more experienced investors, etc. I don’t class myself as an expert on off-plan investments, but I do have 3 at the moment (in Morocco) and am happy talking if you would like to get in touch. (You can try PM on this forum – though there may be a minimum number of posts required (perhaps 5 or so) before administrator will switch your PM function on.)

    Types of things to think about are:

    1) What is included in purchase price (and in time firming that up in contract when you are negotiating the details.)

    2) What could obscure your views. (If you have sea view then can land in front be built on? If it can’t what evidence is there of that? Can agent provide it? (It is in their interests to if land in front can not be developed.) Think about stipulating that garbage collection point and power generators are not in sight of your property nor are they within Xm. (Plans don’t always show where these are and you don’t want them popping up next to your property.)

    3) What are the advantages of going through them?

    4) What do they think about agent X that you have been in touch with? (If they bad mouth the competition then I wouldn’t be interested – shows what they are like.)

    5) Consider talking to an agent that operates in the area but doesn’t offer this development. They will tell you any reasons they know of not to invest there. (Agents promoting that development won’t, it simply isn’t in their interests to do so.)
     
  6. mnaim

    mnaim New Member

    Great advice! When do you advise having this conversation - onsite or before the visit? Since we live in the US, we don't have the luxury of taking multiple visits to Tangier. So we need to choose our agent beforehand and make our purchasing decision onsite. If you don't mind, please contact me offline to continue our conversation.

    Thank you!
     
  7. The Soup Dragon

    The Soup Dragon Senior Member

    I’ve sent you a PM with my contact details. If you don’t receive it the site administrator should be able to switch on your PM functionality.
     
  8. tony ben

    tony ben New Member

    Has this resort been completed yet.
     
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