Whiterocks Resort - Bafra, Northern Cyprus - Purchasing an Apartment
In partnership with Group RCI
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Purchasing an Apartment
I Want to purchase an apartment in Phase One, what happens next?
What happens next?
Choose your apartment and reserve it over the phone. Our sales staff can assist you with this. If you have a specific requirement our staff can work with you to help you choose the best apartment for you. Alternatively arrange an inspection visit via our sales team.
Explain the options regarding interest payments?
You have 2 options: 1) You raise the deposit via a loan or cash and pay in the normal manner, or 2) you raise the deposit via a bank or building society and we undertake to pay the monthly interest from receipt of the payment until possession. The total interest paid by Blue C is simply added to the price of the property.
What are the options regarding Furniture?
On payment of the 35% you will be given the option of three furniture packages, with everything from your television to your bath towels and wine glasses included in the price. A schedule of what is included will be appended to the contract. Further details of the packages can be found on our website.
What is Rental & Exchange?
It’s an entirely new concept being introduced by our world renowned partner Group RCI (please read the 'Rental & Exchange' details under the heading 'Finance' on this web site or 'RCI' under the heading 'FAQs' for further information), to ensure rental opportunity is maximised for investors buying in resorts such as Whiterocks. In essence you, as the owner, can deposit weeks of use of your property in exchange for holidays in other World resorts or for income. The points / income table illustrates the potential rental and points value of your property. Yields of 10% + are standard.
Who are our Partners?
Group RCI are the world's largest and most experienced vacation and rentals specialists with over 3 million members and boasting over 1 million reservation bookings annually. Our partnership is fantastic news for both investors and buyers who want to holiday elsewhere in the world.
Are there other benefits of the R&E programme?
You will receive a comprehensive ownership pack including a welcome letter, membership card, R&E owner guide, pricing schedule, points table and a points directory when you buy your Whiterocks property. You will get accessto the Group RCI website, monthly income statements, quarterly points statements etc. You will also have access to their comprehensive travel services should you wish to holiday elsewhere at any point.
Do I have to pay for membership?
No. The first two years membership is included in the price of your property, thereafter you may renew your membership for an annual fee of approximately £150.
What if I don’t want to rent out my property?
That is completely fine. You are under absolutely no obligation. Basically you own the property and have the right to do as you please. We understand that 13 months prior to the anniversary of initial enrolment Group RCI will contact you to ascertain your R&E requirements for the following year.
So I pay my 35% first payment. Then what happens?
We will send you your Rental & Exchange membership within 6 weeks of signing the contract allowing you to consider booking a holiday elsewhere until your property is ready for occupation. Then sit back and wait for us to get in touch. We will endeavour to contact you at regular intervals with updates on progress throughout the course of the build. Progress photos and reports will be posted on the website.
What can I expect when I get my keys?
Open your front door and walk into a totally completed property. The furniture will all be in place, fittings all installed and operational and equipment ready for use. The coat hangers will be in the wardrobe so you can unpack, sit down and simply relax.
In the course of selling Whiterocks the following questions / queries have been raised by customers:
How far is it exactly to the beach?
It’s 2000 meters (1.25 miles) in front of the development. That is a 25 minute walk.
That’s too far to walk in the summer?
When temperatures are at their highest - we agree it is not practical to walk. Blue C will provide a regular shuttle to and from the beach. The beaches, apart from being golden sand, are all public, so access is straight forward. Our intention is to offer all our customers beach club membership of one of the beach side hotels. This will allow you to use all their facilities at any time, including their casino.
Will I be able to see the sea from my apartment?
The sea may not be seen from all of the apartments but certainly from the majority, our staff can advise you on an appropriate apartment if this is a priority - but the views in all directions are magnificent. Hence our decision to introduce two balconies to every apartment. This allows you to track the sun but also decide on a view to suit your mood.
Will my views be protected from neighbouring developments?
The site was chosen with this issue in mind. The land immediately in front of us toward the sea is a designated conservation area. Immediately behind the land is church owned and therefore safe from future development. The lands immediately adjacent to the flanks of our development are Government owned. We have applied to lease these lands and use them for general amenities. The hillside which wraps around the far end of our site is also being leased by Blue C.
How long will it take to complete the whole development?
We are programmed to be fully complete in 48 months from September 2008.
Will I be living on a building site?
No. Phase 1 was deliberately designed as a stand alone development with independent facilities to ensure the quality of living is maintained whilst other phases are completed. Phases 2 and 3, where the bulk of the building work will happen, are at the opposite end of the site. Where possible, further phases will overlap to minimise the overall construction programme.
Why should I choose Whiterocks, there are much cheaper developments available?
True - but you get what you pay for! As a successful British Architectural Practice we set out to design and develop a resort comparable with the best in the world. If you invest in Whiterocks you will get a higher specification and finish than any other development on the island. Our partnership with Group RCI bears testament to the quality of our product.
How do we know you will produce a better quality product?
We are about to build a complete block on our site in the coming weeks. The three furniture options will be available in three completed units. We believe this will demonstrate that our quality is 'World Class'. In the meantime typical finishes can be inspected in our Iskele showroom, (5 miles from our site). A typical kitchen and bathroom have been installed to give a good indication of the quality we will offer. We will keep you updated on the website regarding progress.
Will I need a lawyer?
Once you have chosen your apartment and paid the £1500 reservation fee you will have a period of 40 days to pay the 35% first instalment minus the £1500 already paid. If you buy in the UK you can purchase via your local solicitor who can organise power of attorney for you via theTurkish Republic of Northern Cyprus in London. Alternatively we can introduce you to a choice of Lawyers in Northern Cyprus who can act as your legal representative.
What is the benefit of this arrangement?
Many investors prefer the lowest outlay possible to allow them to purchase multiple properties. This method allows a buyer to maximise capital appreciation across a number of properties. It is also an excellent method of making your money work much harder for you, with limited exposure financially until the project is completed - at which time capital appreciation will have significantly increased your property's value.
What’s the catch?
There isn’t one. This is a 5 star project comparable with the best available internationally. The resort is aimed at investors and owners looking to invest in 5 star quality in a similar way to what you would expect if you booked into a five star hotel. Convenience for our customers is a high priority.
Are the rentals guaranteed?
No. However we can confirm your property will be exposed to the biggest tourist rental market in the World year after year. Developers offering guaranteed returns over two years are simply adding the rental to the price of your property. The comfort of our relationship with Group RCI ensures your property attains optimum rental on a regular basis. We are forecasting 70% occupancy which would average a monthly rental of £780 for phase 1 properties.
Explain how the points system works? What does 100,000 points buy me?
Basically points buy holidays. Points are allocated based on the Group RCI “Global Points Valuation methodology”. The points allotted to Whiterocks property is highlighted on the web site. We will publish a full directory of point values etc on our web site very soon. To summarise, the higher the season the more points you need to book. However the later you leave a booking the bigger the discount applicable - here are a few examples:
Weeks 10-16 37-38 41-42 in Club La Costa at the Paradise Club Playa de las Americas Tenerife
1 bed apartment - 45,000 points
Weeks 3-4, 18-24 Magens Bay Villas Club US Virgin Islands
2 bed apartment - 27,500 points
Week 1, 2 26, 36, 38 Residence Chamossaire, Switzerland
1 bed apartment - 53,000 points
Weeks 22-24, 37-38 sun beach club Rhodes Greece
1 bed apartment - 42,000
Weeks 48 holiday Bellevue Badgastein Austria
1 bed apartment - 21,500
Who owns the property?
You do 100%. The Rental & Exchange partnership has been introduced to increase owner’s investment potential. You can decide to sell anytime you wish. You have no obligations to our rental and exchange partner Group RCI.
Can I inspect the property?
4 weeks prior to practical completion of the unit you will be given the opportunity to inspect the property and to advise us of any issues you have. This will ensure the property is snag free on handover. Blue C will have their own Project Management team throughout the course of the build. Their role will be to ensure the quality of the build is as specified. Finishes will be very closely monitored.
