Aldea advisors

Hi all

We used Aldea for the purchase of our Penthouse apt. We completed in April 2009,it now appears they have gone into liquidation!

Could this have any repercutions on our purchase?or is it that once the transaction is completed,the deed is done so to speak,

We do not have any deeds etc.but were told this can take some time to filter through the system

Any help/advise would be appreciated

I can't imagine that it would have any bearing on the transaction as a few similar situations have already occured - most noteably Parador last year.  As long as you have all of the relevant receipts/paperwork fromPW and you employed a lawyer then all should be ok.  I handed over my deposit to the company I went with for buying and never heard from them again (unless I contacted them first with a query and they were very efficient at responding).  They are simply the vehicle which hands you over to PW as far as I know.

We also used Aldea at their Cartegena office at the suggestion of Parador. All went through as planned. What amazes me is that I was only in their offices on Monday picking up keys! I spoke to a pleasant woman in there and there was no suggestion at all that they had problems. I have to admit though it was on the second floor of a dark building and there did not appear to be anyone else working there - at least none of the usual office "noise".

Having said that I emailed the individuals I dealt with over the purchase about ten days ago and have had no replies. One automated reply informed me the person would be back in the office on the 28 August!  

http://www.eyeonspain.com/forums/posts-long-7702.aspx

Here is a good link

Ace

Hi mgk

If you have a mortgage you will not have you deeds, as the bank will be holding them.  if you bought you apartment without a mortgage then it usually takes about 3 months for the paperwork goes from the notary office to the Council (Alhama de Murcia).

I gave my solicitor POA who decided not to pay my stamp duty and the charges that goes with it  but instead to keep it for himself!!!!    I didn't know this until a few months down the line when by then he had done a runner!!!! I had no idea where my deeds were etc.  But I will say polaris world was helpful and rang round to see what had happened.  They told me they were still sitting in the notary at San Javier notary and explained everything I neede to do.

So i suggest you maybe speak to PW

Good luck

We completed by POA given to our solicitors.

If you have a mortgage then both the property and the mortgage have to be registered with the notary, hence the double cost.

After 3-4 months we received a photo copy of the mortgage deeds, the originals held by our motgaging bank, and an original copy of the purchase deeds.

We did have to chase our solicitors a few times.

Also bear in mind that the charges for the notary are usually estimated, especially if completing by POA. On chasing our solicitor we received back €1000 which was sitting in their client account, once again returned only after I asked them directly for the notary costs.

Like others, I think, I have this morning received the email (plus attachments) notifying me of the Aldea bankruptcy. I may be luckier than some. We completed our purchase a month or so before trouble struck although they still hold about 400 Euros in my client account which I suspect I will never see again. I too am not sure how to proceed now. We never got as far as drawing up wills with them. Clearly I need to find new lawyers and think I will probably look here in the UK. I know of a pretty good one, I think!

As for deeds, which I don't have, I understand this is different to the UK. Even with a mortgage, the owners should have the deeds. I am hopining PW may be able to help there.