Update on site (visited last week)

I visited the site last week and actually went inside my new home on pase 1,  wow!!   I was really impressed with the quality of everything the solid doors, floor tiles, fireplace, vaulted ceiling  and beams  etc...   It was more than I expected and I couldn't believe how quick the property has moved on since my last  visit late last year.  The roads outside are well laid and again they have used quality materials unlike some of the sites I have visited on the Costa's and believe me I have visited many!   I went to one of the lakes with the rest of my family and we had a picnic in one of the most stunning locations I have ever seen in Spain. My thoughts were exactly on the reason why I have purchased a property on Finca Parcs; that is for the serenity and beauty of the location and most of all to eventually be able to get out of Britain and live in a property that I have been searching for and found.   Me and my husband have worked all our lives for something like this and I know without a doubt that we will be in the property soon.   I met  some of the staff who are working for the developer together with my Agent and I spoke to my lawyer and now I feel assured that all the legal stuff will be in place before we complete on the purchase.  There was an abundance of builders working on phases 3, 4 & 5 and structures going up everywhere so I can't see why the developer would continue to work on this site if there was any doubt that it wouldn't be finished.   I wish everyone good luck and I would say to everyone who is in it for the same reason as we are;  keep your dream alive and be positive!!  p.s.   I took some lovely photo's and will try and download them here sometime later today!!

Thats great news . I am really pleased for you. Thanks for posting the info and look forward to seeing the pictures . Just a thought reguarding BG's you would only need this if the developer did not build your house . So if the houses are being built on phases 3,4,and 5 this no longer becomes an issue . Also the deveopers alleged past is only an issue if anyone completes without the correct paperwork . Which i hope no one will.

Inspectahome . A question . Is it usual for a developer to give a contractual guarentee to build a communial area ? I have been and stayed at many developments where the communial area is the last thing to be built and is usually what the developer needs to build to sell the unsold finished properties . I have spoken to a couple of friends who have bought on developments and none have had a contractual oblogation from the developer to build the communial area . I also stayed at hacienda de Alamo golf resort recentley in a property supposedly on a main fairway of the second course . The house has been there for several years with no signs of a second course being built . This is a very reputal deveolopment the profesional is a very well known golfer who was a member of the european Ryder Cup team . I am just trying to get a perspective on this issue.

john

The building of communial facilities is a major issue in Spain witha a growing number of developments where the agreed commercial facilities havre not been built yes including the Polaris developments of HR and El Valle

Yes you are correct that who will want to open a bar or rstaurant in the early phase of a development with no customers so what often happens is that developers will open a temporary facility, perhaps in a wooden type chalet so at ,least the early owners have somewhere to get milk and bread etc

Some developers do put a guarntee in their contract but this is rare but there have recently been some test cases in the Spanish Courts where buyers have won cases against developers that have not delivered the facilities featured in the sales literature

Certainly if I was buying in Spain, and it was a question that I asked this developer for the buying group that I represent, I would insist that completion dates for facilities like golf and commercial centres where in the contract as this effects the property value

As already stated the leal position regarding the issue of the BG´s on all phases is a puzzle as they are still required under Spanish law and I can only use the example of La Tercia Real where Piensa pulled the plug on the part finished development and have left people with no BG high and dry and having to take them to Court to recover money they have paid which takes 2-3 years or San Jose at Jumilla, same issue

As I have preiously stated on the forum , with a few queries, the quality of the properties is excellent 

I suggest that it really depends on why you have made the investment eithef for own use, sale for profit  or rental income because owners all over Spain are finding it increasingly difficult to rent and unlike this development owners have the benefit being able to travel short distances to reach established facilities beaches etc. Polaris for example run a bus to the other developments like La Torre.

I believe that the next interesting stage that people have not mentioned, once the COH and building licence queries are ckeared, will be the valuation for mortgage purposes and this will be a good test of the market value and any effect of the lack of facilities

As already state, breathtaking location and well appointed properties

I agree with with many of the statements you have made and the bank valuations will be a key issue . One othe point not mentioned is the level of our deposit . Many delelopers insist on 40% or more as a deposit so i am assuming to get this far the developers have been very prudent and have a considerable amount of money to come as properties are completed. The main factor as I understand that developments are not completed or facilities are not built is for cash flow issues which would not be any more pertinent than now in the current climate.

It will therefore be important for the developers that they get as many properties completed as soon as possible .

With regard to rental yields I agree this will depend on what facilities are completed and when. But if they are completed I believe we have a unique product for the rental market.

I have played Golf at El Valle a couple of times and the first time despite most of the houses being finished  the club house was a portacabin . When i returned last year they now have a superb clubhouse and shop .

From what you say if the developers don't build the facilities we have the threat of court action with a good chance of winning.

blue55, thanks for your posting.  Reading it brightened up my day.  I look forward to seeing your photos.

Mark

Hello,

My name is Doris and I have purchased a property on Phase 3.  My husband and I will be retiring to Spain when our Rosanna is completed, a day we are very much looking forward to.  We visited the development last week also, and have much the same to report as bluee55.

Our day at the site and surrounding area was glorious. Bright sunshine and a very blue lake.  We took a picnic with us and had a wonderful time there, the trees are just starting to bloom.  We cant wait until our next visit.

We saw the infrastructure in place for our villa, but unfortunately, were unable to access this area due to the heavy machinery which were very active and might I say extremely noisy.

We walked around the first houses on phase 1 and were able to take some photographs of the larger houses.  I must say the quality, build and look of the villas are magnificent.  The showhouses are spectacular, I do hope they furnish all of them.

For those of you who have purchased and havent visited recently, I certainly recommend it.  Our dream was answered when we saw what our villa will look like. We had not visited in such a long time, I wish that we had.  We met with Amanda from Fincas Valley and Maria who were able to answer many of our questions for us. We had such a lovely afternoon and look forward to moving and meeting all of our new neighbours.

I will ask my son to help me to put some of the photographs we took on here for you later this evening.

Regards Doris

Hello Doris

Glad you have had a nice site visit it is a lovely place to go for a picnic isnt it.

The pictures you have put on the photo part of the site, I dont want to doubt anything but funnily they are the very same set of fotos that ave appeared on the main fincparc site are they not? One is excactly the same, you can tell becouse of the shadows  you must have positioned yourselve in the exact spot the person off the site did to take the foto. im sure you can tell my why they are the same.

Going on about fotos and the ones on the main site, well, just an observation but the third picture in the series (middle left) if you look in the right bottom corner you can see some police tape and what look like a barrer? I know that in spain when police close the illegal sites this is what they do, you can actualy enlarge the foto - its there. not many workers about either, the date says the monday 9 febuary on the foto site.

Dont get all uppity as its Just an observation.

Maybe something to do with the aleged problem regarding  the building licence at the moment. im sure someone will soon come on and correct me,  remember just an observation, dont want to cast doubts. we are entitled to our views,

The tape is Dragados tape (also the barrier belongs to Dragados). These are there for safety reasons to ensure the public cannot stray into areas where there is continued building work.

Genuine purchasers on the site share photos, this is probably why some photos that are the same appear in different places.  Also most photos are taken from the same vantage point on the roofs of the showhouses.

If you have visited the site in the last 6 months you would know who the tape belongs to and why it is there.

Mark

Hi Mark,  you took the words right out of my mouth,  I also have a selection of very similar pictures taken from the roof of the show house near the top of the road, and yes there was a fence across the road stopping us from getting into the part of the site where the workers were.  No police tape though, Im sure it had the name of the builders on it actually, still anyone that has visited recently would know that for themselves anyway.  Alex

alex lilac & Mark kram,

thought so, no problems good job the company have you too to clear up any concerns, im expecting to visit site soon anyway but i wont be getting my property sorted until they shift the phases before 4.

so from your site visits did you feel the people will start moving in this next month - coud do with things shifting up a gear and get people on here to tell us all what snags they find in there houses and good tips on what to look out for. quiet since richman left us isnt it. guess he will still be moving in first though. maybe then the comunity facilities will be starten then

 Hi Jordy,  you are obviously as bored as me today, hav'nt been on here much recently but looking through whats been going on understand clearly now why so many of the former posters have gone their seperate ways, it just seems to be left with the dregs now, or those of us that have only a pc as a close friend.  So what phase are you on then, have you been to the site recently. ?  Alex

Not really sure about describing some of the people ñleft as dregs considering some of the comments amd information that is still being exchanged

I just wanted to hopefully try to clear up this strange query on the requirement to run 26km of cable and drainage

If the properties on the site are granted a COH it means that the Town Hall have an obligation to check that it is feasable to have utility connections made with the NORMAL local utility providers, and that all of the required infrastructure, to support the number of properties for which the licences are granted, is in place

The COH is issued for EACH INDIVIDUAL property, not for a phase, and there are examples where on some sites this is delayed on later phases because perhaps the electrical substation provided provided by the developer will not support the number of properties now requiring services

Once the COH is provided it then becomes the legal responsibility of the utility provider to provide the services, not the developer, but there is no Service Level Agreement is Spain that required them to do this in a certain timeframe

A real example of where this became an issue was at Polaris World where the COH was issued but it was taking Iberdrolla, becaise of problems with their ionfrastructure to the site, 2-3 months to provide services and the same time for gas so even though the buyers had completed they couldn´t use or rent the properties and quite rightly PW response was that it was not their problem as the COH was issued

In Spain where there is no COH in place there is a legal responsibility that the builder has to provide utilities for free

It may be worth asking the builder if the water onsite will be coming from a water deposit or mains supply as it will effect the price you pay

jordy, are you always this sarcastic? it seems that you cant help but 'have a go' at people all the time.

Firstly from what I understand, they only allow genuine purchasers to make site visits and secondly, would quite enjoy being a fly on the wall when ricman comes face to face with you. 

Mark

  PLEASE REMEMBER TO RESPECT THE TERMS AND CONDITIONS OF POSTING ON HERE.  NO POSTIVE POSTINGS PERMITTED THIS FORUM HAS BEEN TAKEN OVER BY  AR-E -OLES.  POSTINGS ACCEPTED MADE BY INTERLOPERS ONLY.     IF YOU HAVE ANYTHING POSTIVE TO REPORT PLEASE KEEP IT TO YOURSELVES TO AVOID GIVING OFFENCE.

I actually think that telling people that, once a COH is issued on a property they are guarnteed to get services connected, is a positive post and will help the developer to clarify matters for buyers considering somebody was talking about cabling and drains needed to be provided

Kram

You seem to be agitated, obviously cant read postings properly, where was in the post any sarcasm, plese explain. its a open forum isnt it

As for ricman can he not defend himself

Just to clarify things following queries raised in an e-mail that I have just received the Town Hall will only issue a COH when the infrastructure to provide utility connections, from the main national utility providers

If there is a water deposit then this has to be managed by the utilty provider

Power that is generated locally onsite is not accepted as part of the main supply and is only ever seen as builders supply

The normal process is that once the COH is issued and the  property finished, to the agreed specification and timescales,  the buyer cannot legally refuse to complete on their purchase and the developer can bring a court action to recover the purchase price

Because of the changing situation with mortgages in Spain, including a reduction in the percentage of the property valuation that they will now lend, normally 60% of the valuation or contract value, which ever is the lowest, I would be looking at getting a property valuation ASAP

Even if you are not taking a mortgage it is always worth getting a independant valuation or sharing the information via the PM facility on the forum

Instead of all this rubbish,  why dont you ring the deveolper and get them to answer the questions about the utilities, shouldnt be a problem especially if you are buying a property,  we already have the answer but as warned by toddie will keep it to ourselves, dont want to upset anyone. Jordy, Is'nt Ricman a women last I heard she was supposed to be someones daughter or neice or was it the sister of someones mother !    This post is getting a bit daft now dont you think, how can anyone take it serious anymore !  Alex

Hi everyone, has anyone else got their moving in date yet?  well we have ours and we are keeping it a secret!  Also, we have found out that the 20/26/27 or whatever it is km. of water pipe is going to be pumped through by 15mm copper piping.   I was able to get hold of one of the diggers on site and managed to drive it through the gates of one of the Esthers with no problem; has anyone else tried an articulated lorry yet???  Has anyone else been invited to the developers leaving do this weekend at the Town Hall???? 

We've got to keep this light hearted as there are so many  outsiders posting threads that are just winding people up and succeeding!!