OFFICE JUNIOR REQUIRED

Has anyone got any updates on Ocean Greenery? Last time I visited they had stopped work (end of May). Supposedly looking for new investors.

I went over to Moraira on the 25th August to meet with other would be residents of Ocean Greenery and our new solicitor  who is trying to sort out who wants to purchase and who would like to pull out as the building work (at April) was not completed.Things are not looking too healthy.
Our solicitor has got a group of about 16 of us together which brings the costs down considerably from 5000€ .We will not be taking out a civil action but a criminal one which should be completed within one year. A civil action would take a lot longer.


This message was last edited by woodentops on 9/11/2008.

Hi Woodentops, 

if you dont mind me asking who are the lawyers you are using to sue the developer?? 
We are with Diana Zuuring and we were put in touch with some lawyers who said it would cost around 15,000euros to sue them, we dont have that kind of money so feel we are stuck to do anything at the moment. We can only hope that someone else takes over and completes.
I have been told that as we have the private contract if someone does we are still the owners. Has your solicitor told you that would be the case? To be honest though the way the euro is at the moment even if that was the case I wouldnt want to proceed further at the price we bought it for as dont think its worth it - what a mess!!

Hi, Nightster,
I'm going to send a private e-mail if I can as I think that I might be accused of advertising.
Let me say at this point our solicitor says that it will cost us as a group 1100€  each to pursue the case as there are at least 16 of us and we are sharing the costs.
Maybe the more the merrier.
regards
Woodentops

Hey Nightster,

Diana Zuuring have all closed down now haven´t they? I would stick to Woodentops´ lawyer if I were you...

Apparently we have been informed today that 60% of the apartments are now complete and the rest will be done as soon as the finances are acquired, thus needing kitchens and bathrooms.

Dianne Zurring are still running but not from Moraira, running from the Costa Del Sol. Is there anything we can do about the fact they never chased up the bank guarantee at the initial stage of setting up the contract?

Hello just introducing myself to the forum I have N0.7 Ocean greenery or should I say I was having N0.7.

Hi Mustang,
Did you purchase through Ocean Estates? and Anderson & Asociados Abogados?
If so welcome to the club (if not you are still welcome)
I would be a close-ish neighbour at Unit 2.
We are trying to find out what has happened ad it seems to be more complicated than we originally thought.
Do you wish to be kept informed of any progress we might make?
regards
petunia

Hi yes I purchased through ocean estates and Anderson. I think I am as up to date as everyone here. I dont have any new news I am afraid. I am in touch with two others we are keeping each other in the loop, please add me to the updates I would be most grateful. rgds Sally

 Hola Mustang Sally,

Hello all.  Would like to introduce myself to this forum - I too have purchased a property back in Feb 2006 - I've bought No: Unit 20 on the 1st floor.

I've been in contact with my lawyer Ayela Abogados based in Alicante who has been trying to get hold of both Ocean Estates and the developers, reading the forum I'm shocked to see that things have got this bad, like others I've invested about £23K into the property.

 Hello All,

Well I have heard last week ( 11th Dec) from my UK based Spanish Solictors that the builder has gone into Administration

I've been told I will be contacted by the Administrators and will then need to register with the Spanish courts that I am a creditor.

I've been told that the Administrators do want to complete and finalise purchae of as many flats as possible.

 

So the greatest risk to me (us) is the Administrator will sell any unsold or non-completed flats at a discount to a property speculator  thus lowering the value of our flats and making it more likely that we buy into negative equity.

 

My friends in Spain visited the site on the 11th, and the building still does not have a front door.

 

Oh dear

John

 

Has your solicitor advised you who the administrators are?

 hi,

Personally, I don't. But I my solicitor does.

I assume your solicitors will be contacted by the Administrator, as no doubt they'll have your contact details.

Rgds

John

We met our solicitor , the bank who hold the mortgages and the court appointed administrators on the 10th December. Of course the bank would like us all to take out mortgages and gave us a folder with mortgage and costs etc.

The mortgage rate is now 6.384% a far cry from the 3.ish % I was offered in 2005.

 

 Hi,

And it's a double whammy because today  1 euro is 90 pence.

But the actual repayments depend on the length of term of the mortgage, which has a much more significant effect on the monthly amount.

Since the actual price is low by UK standards (at the moment, ha ha) at 6% the interest is, say 300 euros a month.

So £300 must be affordable or one would not have started with this purchase in the first place. But it does make it an expensive holiday home when adding flight and car rental.

So I'm hoping for a long term, and  hope by retirement I might have the money to pay off the loan.

But then I'm thinking that is this development going to be plagued with problems. We have no idea how much the service charge will be - there is at least three lifts I think.

I bet the swiming pool is not finished, and I bet you that cost will be passed on to us owners via the service charge.

 

Cheer up everyone. When we started in 2005, the castle was derelict. Now it's rebuilt with 21st century concrete, so you can enjoy the view from your top floor solarium.

So on the whole i might pull out and grin and bear the 20k euro loss.

 

Cheers

John

Has anyone heard anymore with regards to the administrators etc... My father has got rid of his original solicitors although they still have our contact details but we have not heard anything about what is now happening. Does anyone have any contact details for them or someone that can advise what is happening, we are happy to deal with someone in spanish. Appreciate any updates.

Regards

Caroline

Hi Caroline,

We have not heard any more from Isaac since the meeting with the administrators but as small creditors we are at the end of the queue for payment.

i will send you a private e-mailas I can't post websites or addresses on this site.

regards

Pat

 

HELLO.

I AM NEW TO THIS MESSAGE BOARD, BUT I CAN SEE THERE ARE A LOT OF WORRIED PEOPLE HERE. I LIVE IN CASTALLA AND I KNOW THE BUILDING WELL. THINGS IN SPAIN AREN'T GOING VERY WELL AS A LOT OF YOU KNOW. I THINK AND I HOPE, WITHIN THE NEXT WEEK OR TWO, I CAN GIVE YOU MORE INF THAN YOUR SOLICITERS.   I MEEN A LOT MORE. SO IF ANYBODY HAS A QUESTION, PLEASE HANG IT ON THE BOARD AND I WILL TRY AND ANSWER THEM. PLEASE UNDERSTAND I AM DOING THIS AS A FAVOUR, I MIGHT TAKE A WEEK OR MORE BUT I WILL TRY.

I READ THAT A LOT OF YOU HAVE SOLICITERS, MY EXPERIENCE  WITH THEM ISN'T VERY GOOD (ONE TOLD MY HUSBAND AND I, THAT SHE DIDN'T LOOSE, BUT THE CLIENT DID.  THAT ADDS THEM UP)

I THINK AND I HOPE EVERYBODY WILL BE PLEASED WITH THE FINAL RESOLT, LETS CROSS OUR FINGERS.

FROM MIAUZA IN CASTALLA.  

P.S. PLEASE WRITE YOUR QUESTIONS ON Abogados THREAD.