Report on Herrada del Tollo

Thats not particulary helpful Linda.

My soliciotr is totally useless at updating me, never mind providing me with a copies of the administrators report.

I only found out through EOS that the report even exisited!

To my knowledge all litigation lawyers offered every client a copy of the report .I would be very wary nweatherall if this was not offered  to you by your lawyer .Are you with the same conveyancing /property lawyer you were with for your original purchase . If so they may not be able or qualified to act in your best interest, It will not be beneficial to them to offer you  a copy of the report translated or otherwise .

Nigel

I am sorry you feel I am unhelpful but as I paid up front for advice on this issue I do have a translated copy.

The law system here works differently it is up to the client to tell the solicitor what they want not the other way around , so kepp bombarding them with emails,letters,phone calls, thye seem to respond to that

incidentally I have a solicitor friend in the UK who says she wishes that was the case in the UK , it would make her job much easier and cheaper so maybe your answer lies there

Hi Linda ,

I disagree I deal with lawyers all the time in the UK and they end every correspondence with "I await your instruction " it is the same all over the world  we must " instruct our lawyers " not the other way around  , it stands to reason ,we can not presume they know what we want !!!!!!!  Get active and instruct after all you are paying them  for a service ! As Linda says constant  instruction emails  ,calls etc and pester power !!!! gets results !!!!!!!  Good Luck  MM

Agree with you MM. You employ the solicitor, they work for you, you pay them.
They advise but the client instructs. Ayone thinks differently, makes you realise where the problems can be.

Hi All

I'm not sure about the spanish system at all.  I have been e-mailing my solicitor every couple of weeks since the new year, and haven't had a reply.  Even sent a fax 2 weeks ago still no reply.

Can anyone tell me if Maria is dead or alive. I was introduced to her by Smart investors when signing up for a malva 2 years ago.

Hi Recardo - sounds like the solicitor I had with Smart Investors.  I'm pretty sure she is still there and I have sent you a PM.

Hi Claire

Thanks for taking the time to send me the  pm.

Claire,

Yep thats the one Maria at Alendu & Andreu, introduced through Smart Investors now trading as Ward & Co. Doesnt respond to anyone because she is now worried about incriminating herself furhter for not getting the bank guarantees in order in this mess.

In a bizzare twist of fate Im actually coming to Spain tomorrow (17/04/09) for a meeting with her, I can hardly wait!

(I've actually been offered a KIH getout of the mess of SJ\HDT property at Nova Azahara development - an Apartment not the same as Santa Ana Villas I know, but I hope it will at least stop me losing all my deposit money - So Im viewing & meeting agents etc to look at viability).

I've actually now got a Spanish copy of the Admin report but would love an English copy if anyone feels like sharing?

Hi Nigel & Jo - my office is just on the sea-front in Torrevieja so do let me know when  you are coming and I'll buy you a coffee (or maybe you'll need something stronger!)

I'm sure we could share many expletives about Smart or Ward & Co!

Regards

Hi Neatherall210'

your talking about the same person, plenty of contact when she/they the company wanted 1100 Euros to represent me in this case but after getting the money no contact, translations or anything.  No contact for 12 weeks, so much for the advice on getting on to your solicitors.

When you do meet up dont punch her, PLEASE ask her to respond to the CLIENT in CROYDON.

Regards Recardo  ps let me know how you got on

Hi Nweatherall.

Still believe moving the deposit to another site is a con.  The market in Spain has fallen like every where else, but they say 200k plus euros for a smaller property than my Malva.  Get real if your paying more than 130k Euros for anything that is not on a well developed site with no facilities you are being screwed again.

fight for the refund then go and look around.

The Spanish Government has got to be so embarised be the lack of world investment they must step in.

Hi Recardo

If you are talking about moving your deposit through "San Jose" to another property, I agree it is a con and just a way for them to release themselves from properties that have been re-mortgaged.

However I have found a company that own outright 36 Tulipans and 24 Azucenas and  they have just managed  to agree via the administrators to exchange part of the creditors debt to themselves in exchange as a deposit. We have already sold 12 Tulipans and 6 Azucenas of  which 1 has exchanged their credit deposit paid to San Jose as a deposit.

Basically the property owner is taking part of the risk of getting the money back from the courts and at least  the small investor has a property at the end of the day and only a small credit stuck in the courts/administrators hands.

if you or anyone else would like further details, amounts etc  just PM me and I will happily oblige.

Cheers

Dave Butler

Hi Laird

All that info but no prices,facilities or location?

Hi Dave ,I am confused as to how all this works or if it is a safe option . I am also confused about  this bit of your post .

" We have already sold 12 Tulipans and 6 Azucenas of  which 1 has exchanged their credit deposit paid to San Jose as a deposit."

Are you in some way involved in this company or is it a typo .  cheers MM

Hi all unfortunate Malva "purchasers".

Any updates from Maria would be most appreciated, although I have mentally written-off the deposit.  I pondered the "transfer" of the deposit, but could not in the current climate commit to the new mortgage.

I don't think its a con as such, but don't for a moment think that the developer who you transfer to actually wants the SADM deposit/contract.  

What I believe they want is your money to take an unsellable property off of their hands and are just offering a discount instead.  They have no interest in our contracts, even if at a big loss to us - I'd take €20k for my €60k deposit, maybe even €10-15k, but that would just be a dream.  

Regards

What you believe Jon is quite true they are not interested in how much you are owed or whether you can get it back and why would they be it is absolutley nothing to do with them

However they are offering to take some of the money owed to you and instead take a chance on getting it back themselves from SJ

Example you are owed 60,000 you want an Azucena they will allow you 45,000 as a deposit therefore securing 45,000 and leaving only 15,000 owed to you from SJ, quite legal done regularly in Spain so what 's the problem. Some of Azucenas and Tulipans you can even see the Mar Menor from

Hi All,

Just to elaborate on my previous post, the property's are all on Playa Golf, Orihuela Costa, They were brought by a guy called Richard Maher off plan from San Jose seven years ago when the market was really good. he is a self made millionare who wanted to dispose of cash from a business sale in the UK. He invested 5 Million in this development.

He doesn't live in Spain but the UK. All his property's are managed by a company called Soane Properties S.L. who are a legal Spanish registered company based at Las Ramblas Golf Complex. I work for them in the Property Management area and have agreed to offer my assistance by advertising these properties on this and other forums.

I wouldn't agree until I had confirmed that the company was legally able to offer to exchange part of the credit you are owed by San Jose as a deposit on these properties . This has just been confirmed by the solictors after discussions with the administrators. basically Maher Properties will take 45,000 euros of your debt as a deposit on an Azucena or 30,000 euros on a Tulipan. It is a risk  but one that is preferable than having empty properties.

Recardo, in answer to your post I did ask that people PM me for further details which off course will included photo's details prices etc. I believe if I had posted this info I would be in breach of the forum rules.

Magicmeg,No not a typo they have already sold 12 tulipans and 6 Azucenas and one has exchanged/in the process of exchanging part of their credit as a deposit on an Azucena. Also 2 Tulipans have a deposit paid on them to secure them whilst awaiting legalities. Yes I do work for the company and yes before anyone asks I will be earning commission on any  sales made.

Jon G, No not offering a discount only using your debt as a deposit therefore reducing the amount you are owed by San Jose  and yes your right this company has no interest in your contract only what they can sell to people that have a debit by San Jose or to others that don't. they DO Not offer this amount to people who are buying through the normal channels.

Hope this answers your questions and if you would like further info just PM me and I will oblige.

Cheers

Dave Butler

Auntielinda

What happens if the SJ thing drags on for years as it will now due to the criminal charges being brought by shareholders .Will thees companies wait for ever for their money or would the purchaser at some point become liable and have to repay the amount .If this is not the case then the companies must be hugely over inflating the price of the properties to ensure they do not lose out.  The old saying you get nothing for nothing comes to mind as I can not believe for one minute that these companies are doing this to be charitable and help out purchasers . Surely these companies know that the only people with any chance of getting anything at all from SJ are those with BGs and now this is looking like it could take years as banks will not pay until the issues facing SJ are resolved and the outcome known . It just doesn't pan out and seems very risky unless you are desperate for somewhere to live and have no other option . MM

MM

A bit like all of us really, there is no catch he is effectively buying the debt owed to you from you, if you are lucky and SJ only owe you 45,000 you will be quids in and have lost no money.

The properties are in a good position at Playa Golf they were bought very cheaply some 7 years ago OFF PLAN  all know about that don't we, 7 years  with no return on his investment added to that they  were completed 3 years late surprise surpise.

I have been in them , if I had not already bought I would be snatching his hand off and know which I would buy