To quote from Homes Overseas breaking news

"Parador Properties, which was once considered to be one of Europe’s top estate agents, has gone into voluntary administration."

Doom and gloom or what!!?? Things MUST be getting very serious!! Any comments appeciated.

We bought through Parador, they were excellent with us, We paid a lot for membership of the Parador Buyers Club, can't remember how much, but hoped to make use of their services in rellocating when our quad in phase 2 completed - will that happen?

Parador promised us extra white goods and a furniture pack worth several thousand Euros, what happens to that now? Any one in a similar pickle?

Hi all
Yes,I  was promised 2000 euros of white goods for my quad, not sure if that is going to happen now.

That's really bad news. A sign of the times.

If you have got it in writing about the white goods and the administrator finds a buyer for Parador then they should honour your deal.

If Parador go into liquidation then I'm afraid you have had it.

I am a member of the owners club so can kiss by to that aswell I suppose.

What with the pool issue and now this. Its all going pear shaped.

Dave

whats happenning. i want to live in spain. the developer taray is not making it easy to live there because of issues with pool and the L.f.O. Today i hear that parador is in trouble. we have been out in los alcazares and havespoken with our solicitor, and the top people in taray, on the way forward to purchase the house on the plot of land we liked and still ,in this economic climate in britain and in spain taray are not replying and seem to be not willing to negotiate  about our needs.

Hi All

Have just spoken to Parador who have assured us that it is the UK company that has gone into voluntary administration not the overseas part. They have said that a new , accurate press release is about to happen that will confirm that they are not in trouble....

With regard to the pool issue at San Cayetano..... Parador have said that Taray have submitted all the required paperwork and hope to commence building in the summer........

We wait with baited breath !!!!

June

Hi Eirlys

Have you actually bought your property in Hacienda Taray, or are just thinking about it?

If you're not yet committed to buying, then I'm wondering whether an off-plan purchase is the wisest move at the moment. The Spanish lifestyle and sunshine appeals greatly, but I think there is some housing melt-down to come. If prices tumble then you could lose a lot in value on your property for no good reason. Would it be better to rent until things stabilise, do you really want to be saddled with a half-finished build? Am concerned that if many builders go bankrupt then banks will follow and not be able to honour bank guarantees.

Hi moovingsoon

Don't want to be a party pooper and correct me if I'm wrong, but Parador UK don't sell property in the UK, so their demise is due to poor overseas sales. Suspect it's only a matter of time before Parador Spain do likewise... Sales in Spain are not going to improve in the foreseeable future. Just read the articles in, say Money Guardian Overseas Property sections, over the last few months, they don't inspire confidence to say the least!

I don't want to be too pessamistic and hope we do all end up with competed properties with lovely swimming pools and  amenities.

Regards

Parador Properties goes into administration

 

Overseas property specialist Parador Properties has gone into ‘voluntary’ administration.

The Surrey-based firm revealed that it had chosen to go into voluntary administration due to the downturn in the overseas property market.

Parador has confirmed that an administrator had been appointed but declined to name the firm dealing with the case.

A spokesman for the firm said: “This does not affect property purchases by any of its clients, as all contracts were made between the individual client and the builder; Parador Properties acted only as an introductory agent.”

Have been in touch by phone with the Parador Owners Club, Spain who are still operating and are confident that they will carry on doing so, hope that right as we have spent a lot of money on being members for very little outcome so far!!

The Club confirms that it will honour any furniture & white goods offers made by Parador to buyers, hope that's still the case when ours is completed!

With regard to our property's completion date, the Club confirms that phase 2 has been started and that someone from the Club will be taking pictures of the site and posting them imminently on the web.

Another confirmation is that phase 2 will be completed by next June! Just wonder how likely that is? Any comments?

So it doesn't appear as though it all doom and gloom, let's hope so!

Hi Everyone

Has anyone spoken to Parador Owners Club recently?

I have just been trying to log on to their website, but it appears to be unavailable / no longer there - the same as Tarays !!!!!?????

Regards

Hi

We are due to go over from 17 October to 24 October and have been receiving e-mails from Parador re them meeting with us and arranging various things for us - doesn't seem to be any problems.

Nikki

Hi All

I spoke to someone at Parador yesterday.....gave me all the info I asked for....doesn't seem to be a problem