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23 Feb 2007 12:00 AM by normansands Star rating in Kent. 1281 forum posts Send private message

Re: Blq 23, Portal 76 A2 Casares del Sol

The promised "guaranteed developer's low cost Spanish mortgage already in place" does not seem to be real and my pension does not seem to be sufficient to satisfy the ordinary Spanish banks criteria. Rental projections are discounted to zero also.

Anyone any ideas or interest in taking over the contract???

Perhaps someone would like to rent it long term?? will list it when I have all details


normansands@talktalk.net



This message was last edited by normansands on 3/1/2007.

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24 Feb 2007 10:21 AM by noddy Star rating. 150 forum posts Send private message

have you tried for self certified mortgage

 

this is what i am doing

try dean jacobs of easy spanish mortgages, he might be able to help on 0034 667 219 018



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01 Apr 2007 1:24 PM by normansands Star rating in Kent. 1281 forum posts Send private message

An update.

There has been no interest whatsoever in this contract, this indicates that the "street value" of this property is less than 70% of the asking price.

My own estimate is that this poorly built, basic, non-luxury small apartment, without the promised facilities and closed site security, leaves the street value as no more than 50% of the asking price.

Some have argued against this valuation warning of "sharks" buying up distressed sales at a discount. Unfortunately they themselves are unable to substantiate their claims and have made no offers themselves, even though they claim to be "investors".

No "sharks" have come forward and the particular one they referred to as an individual who was buying up 40 apartments has apparently fallen by the wayside and is not in fact buying any.

What then is today's real value of this apartment, is it even less than the 50% estimate? Has it actually got any value at all?

Does anyone know?

Justin advises that today "it is a buyers market", I ask is there a market at all?


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02 Apr 2007 9:43 PM by captain1976 Star rating. 6 forum posts Send private message

Not being an accounant nor a juggle of numbers or bullshxt, I cannot make out where your 50% comes from. Leaving aside emotion, which doubtless is possibly too hard, are you saying your apartment is now worth circa €150,000 or less? In which case, why would I want to express the previously requested interest in the penthouse? You never really made me think about taking your alledged deposit off you.......... Clown, fake or dim. Which one?


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03 Apr 2007 7:00 PM by normansands Star rating in Kent. 1281 forum posts Send private message

Sorry to give offence and I will try to explain.

I have no ability to make you do anything, including laugh, so I am no clown. I am very real and my name really is norman sands so I am no fake. I really believed the sales pitch for this site, I really believed the specialist investment agent and also the young English solicitor offering to act for me.

I really believed I was investing in a secure spacious 3 bedroomed front-line golf apartment of the highest luxury standards when I put down my very very real, not alledged, deposit..

Therefore I am left with being dim, very very dim. I am happy to accept the label and quite understand that others are not.

At this moment I am keen to gain real information as to the actual value of the apartment I have been committed to by the solicitor. This is not easy to judge when the end product is so far from the sales description and the market is so weak. I don't  think either an accountant or a juggler can help at all. Generally sales agents are so disinterested that they are reluctant to list these properties. The asking price is 425,000 euros.

I have contact from some people who have been unable to "flip" their contracts but none from anyone seeking to invest.

I have stated elsewhere that I would love to be proved wrong, but unless our indignant captain can do something I stand by my  estimated valuation.

I would just add that I find it a strange world where a search for the truth and the recording of plain facts gives offence.



This message was last edited by normansands on 4/3/2007.

This message was last edited by normansands on 4/5/2007.

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10 Apr 2007 11:14 AM by normansands Star rating in Kent. 1281 forum posts Send private message

   

 

 

 

 

 

 

 

 

 

10 Apr 2007 9:21 AM

hampos
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I have received the following from one of the members who, as far as I can judge, used to post complaints but seems to have stopped doing so, presumably in case the publicity affects the values of possible resales.

Dear sir,
I know someone who was interested in buying two apartments on this estate (non penthouse at 240,000 euros), having read your comments hes was soon put off. My advice to you is put up or shut up , stop whingeing in public and act like a man.

As to the "advice", it is I am afraid meaningless to me, as an ex-serviceman who will not be bullied by anyone, anywhere.

This nonsense about publicity affecting actual value is fairly commonly believed amongst the "flippers" within the investors. They seem to think that the "off-plan" con' that has been practised here can some how be reproduced to fool new actual buyers of the "finished" product.

I think they are deluding themselves to an astonishing degree.

I believe the market is decided by reality such as the following new post: :-


 

 

 

Having just returned from CDS one of the most pressing issues is clearly the state of the grounds and communal areas generally. Why are all the manholes so proud of the ground - is it the norm or have they just been mean with the topsoil ?  Apart from the 'gardens' there is so much 'snagging' to be documented and pursued it's an enormous task. Just taking the stairs down to our car park one can see numerous unfinished works, holes in ceiling, broken doors on electrical cupboards, missing drain covers etc etc etc. The rendering on the block opposite ours finishes above ground level and looks dreadful.  The pool area at the back of blocks 14-16 has mssing life belts, unfinished showers, a worrying long crack in the floor tiles which might indicate subsidence, dips which accumulate muddy water after heavy rain - the list goes on ...  The lifeguard situation is ludicrous and a total waste of our money.

Personally I see no sense in trying replace Ammex at this stage, once they are answerable to and can be directed by the owners we will have a better opportunity to judge them. They must have accumulated some understanding of our site which will be useful in the short term. We would first need to check out the alternatives anyway.

 




This message was last edited by normansands on 4/11/2007.

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11 Apr 2007 7:47 AM by hampos Star rating in Northamptonshire. 25 forum posts Send private message

Dear Norman,

Your paranoia has caused you to mis-interpret my simple statement of priorities for action. It was not meant to be negative, just a list of things to be dealt with.  Please continue your daily rantings, they always give me a chuckle !

 



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11 Apr 2007 10:12 AM by normansands Star rating in Kent. 1281 forum posts Send private message

Dear Hampos??

I am afraid that is too clever for me, I thought I had re-stated exactly your post as posted. My only interpretation, if it can be called that, was to believe it as fact. If that is a misunderstanding then I leave it to you to edit your own post and I will make any corrections necessary in mine. I trust that is OK.


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12 May 2007 10:50 AM by normansands Star rating in Kent. 1281 forum posts Send private message

Despite the thousands and thousands of words from sundry experts, attempting to talk up the market , there has been no offer to value or interest of any kind shown in a penthouse contract at Casares del Sol. Market what market????

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16 Jul 2007 1:06 PM by normansands Star rating in Kent. 1281 forum posts Send private message

Despite all the positive, pro-active, happy even loving owners flooding this forum there has been no interest of any kind shown in this "pinnacle of luxury" penthouse contract. Perhaps all the happy owners are bideing their time and waiting for the developer to sell it at an even greater discount - distressed sale or what?

Regards

Norman



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