Property Letter 16 � 6th November 2002

Posted by admin in Property Letters | November 6th 2002

Dear All,
 
PLEASE DO NOT REPLY TO THIS E-MAIL ADDRESS – USE watsies@mweb.co.za as per usual. I am scribbling this quick update on James and Kate’s machine.
 
I have little time before catching our train back to Cannes, but wanted to keep you up to date with our progress.
We have been the weekend in Milan after a first week in Cannes, during which we have achieved mountains. Steve and Avril arrived safely on Tuesday, and although a little shell-shocked, which is to be expected, they took only about a day to start their first French sentences. I believe that they are the right people in the right place at the right time, both for them as a couple, and for all of us who will be relying on them to care for our investments. We have left them this weekend to find their feet, and with the job of planning and beginning the process of furnishing the first apartments. We have 4 sets of keys to work with and hope to have another 4 sets very soon. I hope to see the first apartments complete and ready for occupation, and just maybe the first paying guests installed before I leave in under 3 weeks.

We have also viewed 15 or so apartments out of which two were wonderful, and we have bought them bringing our total to 12, and leaving 6 definites still to find. I am working on the principle that if the right ones don’t come up we will continue where we left off on the next trip early next year. We will not compromise simply because we have a wish list.
 
Please remember that the best we have been able to achieve with the bank is 50% deposit for people who are Zimbabwe based, 40% for those who are S.A. based, and 30% for Europeans (and Brits). For those with bank accounts elsewhere, that is not the criterion. It is "Where do you pay your taxes?". If in Zimbabwe, then that’s where you will be judged to derive your income from, and that is where you will be classified.
 
It is important that you keep me up to speed with your needs, because when things happen they happen fast. We see a flat along with other interested people – and normally these properties have only just come on the market. We have to move very fast in order not to lose them, and the better the flat and the value in relation to price, the more likely that we will lose it. I phone you as soon as I see something that I think will suit you, and if you say "go" I make an offer which is accepted or rejected in hours, and I sign an agreement of sale normally the same day, in my name, and transfer it to yours later when we start the loan application process.
 
For those with apartments, and travelling this way, please collect things to add to and leave in your flat. Good holiday reading books, magazines, cookbooks, videos if you envisage having one, including a couple of cartoons like Lion King etc. which may be useful for people needing to entertain children from time to time. These are all things that make a holiday flat more welcoming and fun.
 
Conferences are never ending in Cannes, and a lot of our business will come from them, but also from the internet and repeat visits from happy customers.

Do go into www.azur-online.com to have a look at the format for our website – at this stage just setup but it will develop fast once we are ready to rent.
 
Must end.
 
Guy and Vicky.

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