Bank auctions

I am not a lawyer but aim to provide practical advice based on REAL: LIFE experience dealing with customers for more than 10 years and hopefully help people

There are a combination of 2 factors here the first is the COH and today, because I have seen what can go wrong, I would still advise not to complete if there is no COH, banks will often not loan of a property with no COH, you cannot sell the property and MOST utility suppliers will now not connect supplies

The second factor are the BG's because in these cases, where the properties have not been completed, because they don't have a COH it would have been possible to excercise these against the bank

The COH, if the property is finished to the agreed specification, if the surrounding areas are correct, should be very easy for a developer to obtain, maybe they did something deliberately

On other developments where the BG's have not been issued buyers have successfully brought actions aganist the banks where it has been proven the bank had a responsibility to police this but any action is lenghty and expensive

What unfortunately you don't have here is a group of people that can share an action and the costs in order to do this but on this forum, if you look at the forum for Keith Rule I am certain that he would be happy to advise you on this

As I also said people should be bringing pressure on Atlas, perhaps they should assist in doing the right thing by helping to contact all of the buyers, perhaps initally a simple mail address for contacts

I thnk that what is wrong is that a lawyer, that has legal liability insurance and the agent think that they have no responsibility for this, they do

I will stick up for a system that if you listen to the advice that we have always given, which is to get a BG for all payments and retain an independant lawyer, not one recomended by the agent, then many thousands of people have successfully purchased properties in Spain

I am trying to find thr auction details but as I explained it isn't currenty showing on any public listing but there are 2 other routes

If as clained they are also selling te course call the guy that runs the course and ask him, he should have details as I am certain that it will effect him

Also I believe that there are a couple of property organisations onsite who shiuld have local knowledge one being Mercers, ask them what they know and if they can help

So far I have been able to confirm that the properties are now owned by BBVA bank and if you want to PM me I have a contact

I still cannot find any dates or informatoon on a public auction for these properties, to be honest in Spain they just don't work and the normal route is to sell through the network of the banks agents

I am reading with interest your blogs concerning this complex. We purchased 11-22 some years ago as key ready, 10 months later the house was still not ready and instead of a basement it now had an inside pool. After a lot of negotiations we reluctantly had to pull out. Our total losses amounted to €200,000, 20,000 of which was owed to us from Massa. At one time they offered to pay us in full if we stopped our campaign of contacting as many potential Atlas customers as possible. (Atlas were the agents we used from the uk (chocolate fire guard comes to Mind )). But true to form they reneged on the deal, and we were left floundering rapidly running out of money. We visited the property 2 years after and nothing had changed, still not ready, empty properties everywhere. If anyone wants details of our experience let me know at izzyinn@tiscali.co.uk