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Macanthony Realty / Buying with MRI/Macanthony

1 United States Review updated:
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As a happy buyer through this company and being slightly doubtful about THIS forum (which seems to be linked to [redacted]s as well), I'd just like to say (and hope that this isn't "removed") that my buying experience with MRI was 100% painless and has left me with a property that has generated rental income and is still worth more than I paid for it, despite the recent credit crunch.

David Johannsen.

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  • No
      13th of Mar, 2009
    0 Votes

    Pleased you got a good investment David but did you buy a few years ago when prices were lower, mortgages available before the incompetent greedy British and American bankers wrecked the world credit market ?

  • Li
      19th of Aug, 2009
    0 Votes

    I am happy for you and do not doubt that MRI did not intend on getting into this position. But the fact remains they have.

    I chose to invest with them because they were a reputable company. It wasn't just bankers who ruined it, everyone wanted a piece of the action.

    I can accept that I took a chance and invested money off plan, knowing there was a chance investment could easily go down as well as up. If MRI had kept to their end of the deal and delivered on all the things they agreed to do, I would not have an issue. BUT THEY HAVEN'T. Yet they have the audacity to ask me for even more of my hard earned cash. I and the many others who had paid over 50% of the agreed price have a right to expect them to keep to their side of the deal and deliver not just empty shell apartments, but the entire package that I bought into. They didn't need to borrow money, they were paid more than enough up front to complete the job they were hired to do. THEY WERE GREEDY and borrowed money on an apartment which belonged more to me than them and spent it elsewhere, putting my investment in jeopardy.

    Count yourself lucky because I would say you are in the minority rather than majority of anyone who has invested in the past 3 years.

    I just can't believe how many people are accepting 'their lot'. Has everyone lost their senses? MRI got greedy, borrowed too much and now we are paying the consequences!!

    It's WRONG!! WRONG!! WRONG!!

  • Jo
      20th of Aug, 2009
    0 Votes

    You must have been a lucky customer then.

    We are still waiting to purchase in Santa Eulia, Albuferia, Portugal. We purchased the apartment off plan December 2006. The work had only just started. We purchased a 1 bedroom apartment that sleeps 4. We went to the lawyer and was told that completion would be April 2008. We visited the property December 2007 and considerable work had taken place. We were told completion would be spring to summer 2008.

    We joined the after sales and paid £1000 in December 2006 as thought it would be a great idea to have regular airport pickups, accompliment to lawyer, regular updates and someone to chase the progress. Hence less "hassle".

    From the start, I have had various arguments with the after sales team as no real regular progress was told. April 2008 went, June 2008 went, October 2008 went (these were the dates we were told of completion). Luckily In November 2008 we had booked a holiday and MRI was picking us up from the airport. 1 week before, they e-mailed to state they were not doing anymore pick ups! I spoke to a Manager etc and eventually they agreed to pick us up but for this time only! Was advised that it was due to the current climate and that the terms clearly stated subject to change. I looked through the terms and they stated that MRI was constantly improving and evolving to get the customers the best service. So how is cancelling a service improving the service! Also other services were to be cancelled in due course but was not told which!

    Anyway, when we were picked up from the Airport by the After sales Manager from Vilamora, we asked to be taken to the site and to the agent office so we could book an inspection. She did not even now where our site was so I directed her to it. So much for After sales Manager! We then booked the trip for the next day and she said she would do a progress report on the site and put it onto the net. Then on our returned, MRI promptly sent us a progress report which we already knew about the details! They seemed so prod of their achievements!

    So we looked around the property and the agent stated it should be ready end of December and then the 6 months habitation licence to be sort. Hopefully would get the apartment June 2009. When asked about the April 2008 deadline, the agent stated, "The property was never planned to be ready April 2008 and that MRI must have lied to it's customers to secure the deal" I mean we liked the property and was prepared to wait so I don't understand why they lied? if they did?

    My parents visited the property Jan 2009 and the work was complete on the apartment, just outside ground work was being done. The agent stated they were applying for the licence and hopefully June/July should be the completion date.

    June and July 2009 has been and gone. Our mortgage offer has already ran out once and will run out again in Oct 2009. The Lawyer has been no more than useless. I have contacted her and contacted her and eventually last week she stated that completion was near and even though MRI no longer exists, the contact is with her and the developer. No more info is known apart from there has been a problem with the licence. She was not sure what it was!

    I am worried because on paper and from the sales contract we have bought a one bedroom apartment, fully furnished. It has a pool, Gym, Sauna, Turkish Baths, Tennis court, Playground etc etc. On official paper, after contract was signed, it states a T-0 (which is a studio apartment) is this the problem with the licence? Who knows! On our visit in November 2008, there was only the pool, shop and reception visible and work on all the other facilities had not started. When my parents went there in January, there was still no sign of the facilities. I have asked and asked about these facilities, even said would not pay full asking price if not all there and still nothing on what is happening? I feel the lawyer is working for the developer and not us. Paid her £1, 300.00 in December 2006 for half of her fees so we are a bit tied to her and trying to find another layer would be near on impossible now?

    At the end of the day we have paid 165, 000 Euros for what? The price has dropped and been valued at 150, 000 Euros but still we have to pay 165? I know it was a risk but a risk that could have been averted if the property was ready on time last year as promissd! what exactly are we going to get for this money? who knows? when will it be ready ?We have we paid 55, 000 Euros deposit for this apartment or is it fake? Have we really part purchased an apartment in the Algarve? Our lawyer has not been honest and truthfull. Is she in on it too? Who knows?

    This is our situation.


  • Ch
      26th of Nov, 2013
    0 Votes
    Macanthony Realty - Scam
    United Kingdom

    I would like to join the complaints about this company. We were mis-sold in sunny beach Bulgaria, along with a host of other people.

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