Pulpi ?

Hi everyone,

I have to admit to a degree of irritation reading various `opinions` as to what may or may not happen to CDP, lets face it , many of us have a real  & quite defined dilema, do we complete & risk even more money on a site which may never be complete or  do we pull out & try to get deposits back .

For me the crux is, will the site ever be complete & practicably habitable, if I am confident this will be the case I would be happy to complete as soon as possible. The problem is that no one `really` knows what the situation is!! or do they?

Obviously Peinsa will be fully aware of their position & intentions for the site but so to a certain degree will the council at Pulpi, personally I can`t imagine they would be prepared to see a beautiful coastal resort decline into a ghost town, rember the mayor of Pulpi `apparently` owns property in San Juan.

So, surely it would make sense for someone to contact the appropriate person at the council in Pulpi and ask for a declaration as to the position, also as in the UK it must be possible to do a search on a company like Peinsa in order to establish their liquidity, we would, of course have to be aware that there could be vested interests at play but having this sort of infomation would be a major influence in any final descisions regarding any purchase.

The problem is how would we go about this, any ideas........I am thinking of writting to Pulpi but not knowing Spanish & putting it in English, the point may be lost or not understood.

Just one other point, maybe Pulpi have the towns best interests at heart by not issuing HLs until the various phases are totally complete, thereby putting pressure on the developer & their backers to complete the whole site as originally planned.

My underlying reservation is the `appauling & totally unacceptable attitude of Peisa over the last few years, it has become impossible to believe a word that comes out of the site office, if only they would not treat people who have invested large sums of money as imbeciles & start to regain our trust the situation may well develop into the result we all want.

So any ideas, comments or opinions would be most welcome.......

Cheers,

Roger & Stella

hi roger

i dont think the council or anyone in that area would like to see an  unfinished development, however its down to peinsa to finish it, no one else. hls are only granted on completion. the problem with peinsa is their out of money. the big question is where and when are they going to get the money to finish not only this site but the others they have too?

hi roger

i forgot to mention for those with/without bank gaurantees peinsa are offering alternative propertys which are key ready but maybe on other devolpments. if your not confident in getting your money back this may be the best way to secure your investment. at worst its something in a couple of years to sell. the dream that most of us had is out the window, its about securing your money which you have already invested.

Hi Beado

Looks like I am hooked back on the site again. I was just wondering with interest what you mean by getting the keys to another site, I would love to live in the so called eye sore in San Juan but if you can give me or us info on what is going on feel free please. If I offended anyone the other day I apologise ( not the DOC though ) As to roger & stella I think I will send an email to our solicitor and ask her to contact Pulpi to find out there feelings on the eyesore !!!!!!!

I am aware that individuals on other developments have joined together and formed 'action groups' where by they hire one solicitor to act on behalf of them all in order to gain information or carry out any actions. Its probably a cost effective way of doing things for any individuals that have concerns/ queries. Perhaps somebody else has more information and knowledge of this way of approaching things. If nothing else a Spanish solicitor might be able to find out information about the developer which is positive and puts peoples minds at rest.

Hola to all. I have been living in San Juan for nearly 4 years, and can tell you a few things first hand. Peinsa is in serious difficulty financially. There is no work taking place that I can see, and the only people I have seen on site recently have been taking tools and equipment away. I met one of the site architects in La Venta and she starts her new job in Murcia on 15th Feb. A petition was taken to the Mayor of Pulpi last week which was signed by quite a few residents (both British and Spanish) complaining about the situation in the town. We are demanding a meeting with the mayor to discuss our frustrations. The main concern for us all is Calas Del Pinar. Monte San Juan is literally rotting, and Calas will go the same way. Remember that the certificate of habitation is vital. A property is not legal without it. There is a very good section on this site about the process. Remember that without this you would not be able to sell the property, and obliged to a builders mortgage or commit a tremendous amount of your hard earned. There is a real possibility that this site will remain in this state for years. An eye sore for us, but most importantly the savings of a great deal of people are in danger at the moment. Take legal advice immediately, and protect yourselves.....

Important to note that: Yolanda, Patricia and Juan Gracia at Penisa are aware of 12 plus buyers on later phases who were willing to consider unsold plots on phases 1-3.

They provided a list of available properties and wanted significant sums for them i.e. 2 bed 201,000 plus tax - many of the houses 250,000 euro's plus.

This is madness given the current climate and overall situation.

Patient buyers have tried to achieve a win/win situation with the builders without success.

Now, buyers are having to incure additional cost to get back money, many of us paid 3 plus years ago.

Peinsa in our opinion have shown no respect for buyers who have waited patiently and we for one, no longer wish to focus our energy on them - but focus securing our well earned money back.

San Juan remains a lovely place, together with very nice people and we wish all those who have completed or are continuing to stick it out the best of luck.

hi mick

peinsa are offering to transfer deposits paid to other completed developments which are key ready with hl. discounts are available if you haggle hard enough for your troubles. as i said before forget about what your dream was and think about securing your investment.

Why therefore are they not willing to be sensible in relation to allowing/helping people who have waited patiently on Calas Del Piner to switch to other houses unsold on the same site - does not make sense.

They won't even consider a straight like for like switch, so very unlikey they will offer big discounts on other sites, unless there is no hope of selling what so ever on the other developments!

Having had personal dealings with Penisa - it is always on their terms.

Rest assured not trying to be the bearer of negativity but I am just trying to keep it real - Penisa cannot be trusted - knowing their staff read this forum happy for them to know our feelings also!!

i dont know. what i do know from experience is that they allowed buyers on another site that wasnt going to be completed, transfer their deposits to other finished propertys. calas de pinar was not an option for them however.

Thinking about all this it just makes no sense, either Peinsa are being totally inept and bloody minded (for some reason) or just maybe things are not that bad, I am aware that many Spanish purchasers will not complete on CDP until nearer the summer so maybe they are holding fire to see what happens then.  And what about a previous post that refererd to a `re - jigging` of the schedule with another builder....the trouble is no body now believes a bloody word they say and any of us on this forum don`t really know what`s happening...it`s all conjecture.

If a company is going bust I would think the directors would be looking to get as much cash in, from what ever source they can, couple that with what they are asking for the properties now is much more than they are worth and it makes for utter confusion.....I wonder what they are really up to!!

If only Peinsa would act a bit more professionally and not treat customers with contempt they might just avert the panic that is going on.

I am currently discussing the situation with a UK based firm of lawers who specialise in European law and will pass on any major developments.

The other thing is perhaps, as I mentioned before, we should consider carrying out a financial search/company report on Peinsa to reveal the actuall position, I believe this can be done for as little as £100 ish....maybe each put a few quid....

Cheers,

hi roger

maybe this will help on the prices. on most propertys they have a morgate to build.they cant sell below what they owe on a property. if they are looking more than there worth now it tells you that they have overborrowed. ask about propertys that they own. might be cheaper but probaly very few if any left.

Bang on. They are caught between a rock and a hard place. So called finished properties are mortgaged from 250k a piece, and they can't finish anymore as the bathroom suppliers etc stopped supplying a while back due to unpaid accounts.  The directors are paid monthly, and every month that goes by, is another few grand in their bank accounts....

Hi

Nothing at all going on at the Calis site nor was there much happening on the new road towards Pulpi,which is rumoured to be completed around now(so much for rumours).Further up the road at the Goldon site there was work going on on the appartments and the golf course,but nothing happening on the appartments near the roundabout.Is everything to be put on standby or scrapped, plans redrawn or am i being paranoid.There are to many uninhabited houses already (monte san juan just left emty for approx 4 years).Surely the powers that be could not allow things to be left as they are at the moment.

regards

Keith77

This message was last edited by keith77 on 2/10/2009.

This message was last edited by keith77 on 2/10/2009.

hi

surely it doesnt take that long to get a builder to finish off.  there are hundreds of thousands of them out  of work in spain. has anyone spoke to yolanda in their head office in san javier?

There is plenty going on with the road to pulpi, i asked at the town hall and they said the road between the fountain and the ring road will be finished before May.

Here's hoping.

Hi

May will be another date given by someone who claims to have all the relevent imformation that will come and go,but never mind i can put it in my diary alonng with all the other dates given .I would be pleased if the road was finished but far from suprised if this was not the case.

Keith