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Report: #362414

Complaint Review: Mrioverseasproperty.com - Nationwide

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  • Reported By: south west Other
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  • Mrioverseasproperty.com C/ Jacinto Benavente S/n Marbella Malaga 29600 Spain Nationwide U.S.A.

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This company presented themselves as a Professional Investment Company.

To use their own training department words ( as shown in the Tonight Programme of 27th July 2008), after our visit to their exhibition in our city, they Battered us to hell with phone calls from their tele-sales team based in Marbella.

Unfortunately,as we were seriously thinking about an investment and had been impressed with the DVD about the company, that we were given at the exhibition, we didn't take on board the numerous phone calls.

We made the decision to go to Bulgaria on an inspection trip. As we see now, this was the BIGGEST mistake of our lives. We were pressured into remortgaging and told by no less than 3 MRI representatives in Bulgaria to buy as much as we could, and that we would be mad ( their words ) to miss out on this opportunity

The representatives in Spain & Bulgaria were told we were not risk takers and this was our 1st venture, but they introduced us to the ST.IVAN DEVELOPMENT in BANSKO. We were told that on our return home we would have 30 days in which to arrange to send the first phase of the monies required, over. We duly arranged the remortgage, but the initial contracts took 4-5 months in total to reach us. Consequently we have been paying an interest only mortgage since JULY 2006.

As for the ST.IVAN DEVELOPMENT, to date it is almost 9 MONTHS behind schedule. Completion should have been end November 2007. As novices, we feel a PROFESSIONAL INVESTMENT COMPANY, how MRI presented themselves, should have advised us fully about possible delays and the fact that, as we now know, the Developer didn't have full plans licensed. Had we have been told this we would NEVER have agreed to meet with the waiting Lawyer & Financial Advisor they had lined up on our return from our long inspection day.

This company is all about getting as much money as possible from its clients. Bearing in mind we hadn't received any contracts, we had numerous phone calls & emails from another MRI department, just 2-3 months after our trip, trying to get us to send them money for furniture packs. They said it would be in our interest to get this organised. Thankfully we didn't respond to this, but we know people have. How much money has MRI made sitting on clients money for furniture packs that, in our case, are not able to be installed yet.

Another money making scheme for them is to get you to join the AFTERSALES Team( this was 249 in 2006 ). Again we were wise and declined, because we felt that in 2006, with the development only just under way,their services were not needed at this time . Surely, as their clients, a professional company should keep you informed and updated without the need to con more money out of you.

One of us is in our late fifties and had we never got involved with MRI we would have payed off our mortgage in JULY this year. Because of them, unless we recover all our monies, we will NEVER OWN our home as we can barely afford the Interest Only payments we are making.

Like other clients have reported, MRI do not want to know when things are going wrong, and then decide to tell you they are just estate agents.

We have so much more actual events to report about this Company, but will cease at the moment.

We will not GIVE UP on getting justice, even if it takes years.

lin
south west
United Kingdom

This report was posted on Ripoff Report on 08/13/2008 09:55 AM and is a permanent record located here: https://www.ripoffreport.com/reports/mrioverseaspropertycom/nationwide/mrioverseaspropertycom-mri-works-solely-for-themselves-marbella-malaga-spain-362414. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
2Consumer
0Employee/Owner

#2 Consumer Comment

Looking to join forum to put pressure on companies involved

AUTHOR: Tracy - (U.S.A.)

POSTED: Wednesday, November 26, 2008

I'm in the same position as Lin and am buying at St Ivan, Bansko.
MRI gave myself and my partner lots of information when trying to sell me the off plan property advising we could mortgage the property for up to 75% of the value and as this would be more than the purchase price we could re-coup some of the costs that we would have to lay out. We are now struggling to even get 50 - 60% of the purchase price agreed as a mortgage.

MRI recommended we use Capital Financial Partners for the mortgage. As per other reports on this website they took our fee and then came up with various reasons as to why they couldn't get us a mortgage which included the fact that we weren't married and that I had a credit card. They then advised that they were no longer representing any clients for the St Ivan resort. We are still trying to get a mortgage arranged else where. We are also still waiting for documents to be returned and have not received any refund.

MRI rang us constantly in Jun-Aug 2007 to advise that the website for renting the property would be launched in Oct/Nov and if we hadn't purchased the furniture package our apartment would not be included on the website. I sent them the money in Aug and nearly 18 months later I still haven't got an apartment for the furniture to go in to. I have asked if we can have a refund if we terminate our contract with the developer but have been advised this is not possible as the furniture company have the money and MRI can't do anything about it. You pay 300 euros a year to MRI for this service!

The developers Balkanstroy are now 12months late in completing the property. I am seeking legal advice to help decide whether to proceed with the purchase and attempt to get some compensation or to take them to court for a full refund due to not meeting the terms of the contract. I am really undecided as there are lots of comments on various websites about how difficult it is to pull out of the purchase and get a refund.

If there is a forum/group and of people in the same position I am very interested in joining it. I'm happy for my email address to be passed on to the relevant people.

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#1 Author of original report

Macanthony Realty International or MRI, Marbella, Spain. Work solely for themselves

AUTHOR: Lin - (United Kingdom)

POSTED: Wednesday, October 22, 2008

I am looking to join or form a group to fight this company and am happy for Rip Off Report to give genuine interested parties my email address.

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