Holiday homes for rent in the Costa Brava.

Thanks everyone for your messages. Its nice to know there is someone out there to talk to. Alan your message was very helpful but I wonder if you know when people were told that they could actually get there money back as it seems that some have already. We contacted our Solicitor on numerous occasions since we bought but were constantly fobbed off with one excuse after another. It was only recently that we were told that yes we could have our money back only then to be told that completion would be in January and because the bank had not recieved the request for monies back from our solicitor would not now honour it. Our solicitor now says our only option is to complete even though we have an email from our solicitor that states we would be paid back within a month or two.

We would really like to know when people were told that they could pull out with all monies refunded.

Also, we have been told in the last month (during the time that they said our monies would be refunded) that the habitation certificate is now granted and completion is in January 2008.

Confused as we are not sure how to pursue the case for getting our monies back.
Mick

Mick, as I understand it you can call in your bank guarantee when the developer fails to deliver your property within 6 months of the date on your contract. I would imagine if your solicitor heard nothing from you in the period since that time he/she assumed that you still wanted to complete.

If you feel your solicitor has been negligent in advising you why not contact Maria de Castro? She is a member of Eye on Spain and regularly contributes to the forums. I have pasted a couple of links below for you.

By the way have you checked out the main forum threads under Buying a Property? There is a whole load of useful info there>

Alan



Send private message to mariadecastro

www.costaluzlawyers.es

Unhappy Mick

Since you bought in at a "low" price you shouldn't feel too bad about it if you do find yourself locked in.

It's a great development, as good as anything in the area.

We're just sad to have left the building, but would be back in a shot at the right price.

 

Will, do I understand then that you are definitely canceling?
Alan

will, i don't think anybody actually received anything to say when they could cancel.  We sort of approached people ourselves after finding out information (mainly through this site).  Print out a copy of the email you have saying monies would be refunded and use that as your proof of wishing to cancel at a time when the LFO was not yet granted. Stand firm and make it known to the lawyers that you requested cancellation before the LFO was granted. Although i don't know how successful you will be given the treatment we have all had

suzanne

Alan

Yes, we have, after much soul searching, instructed solicitors to commence the cancellation process.

Suzanne - yes, the solicitors have formally written to Prienesur lodging the intention to cancel - apparantly there is a delay - but at least its on record. Our solicitor doesn't see any problem so far, but to be honest, when I'm told there should be no problem, I get a bit nervous.

Anyway, you all probably know that we have been as positive about the deveolpment as anyone on here, and that hasn't changed.

It's a great development which looks better by the day and only confirms we made the right choice in the first place.

The only reason we are cancelling is that the valuations coming in, for us, are dire. This no way affects all of you who bought in at brilliant prices - if we had we would unquestionably be sticking.

I have privately told some of you what we paid, but was always coy about publishing it, but so as you can understand why we are cancelling, we paid €245K. This time last year it was valued at €277K.

You can see that with a valuation of circa €220k it's not viable for us to continue with the puchase at the €245K price, but we would be back in quicker than Speedy Gonzales if we could replace our apartment from a resale at the real current market price.

Even if the valuation had have come in at €245K we would have stuck, even with the terrible delays on obtaining the LFO, we would have stuck.

We are bitterly disappointed that we are doing this, it was not of our choosing - this development should have been completed in June 06, and we would have been now sitting on our terrace oblivious to the property market.

So it's now all back in the melting pot, we are over in Jan 08 and have set up several days of hectic viewings (deja vue) covering several nearby developments as well as Arenal/Duquesa resales.

So we are not away yet, Arenal/Prienesur would be the preferred option but I have to say there appears to be some really nice bargains out there now at very attractive prices, so we will of course do the diligent thing and weigh it all up again. I know, we are such sluts, no loyalty, but there you go.......

One thing we have learned during the last few weeks of researching the market is how important the level of Community Fees are. Most people are buying into a development are "blind" to Community Fees yet this a hugely important factor.

Would you buy a house or car without knowning what the Council Tax was, or insurance group, mpg, servicing costs ? Of course you wouldn't, but in Spain that seems to be the last thing anyone thinks about.

I give preference to those developments who have had the foresight to create their own Web Site, at least you have an idea of what's going on.

One nearby development, with it's own Community Of Owners, is owed €100,000 in fees from the developer - fancy buying into that ? No, nor do I. Next !

Most people forget that a development is in fact a sales product,, you have to keep it continously attractive for the next buyer, it has to be well run and financed, it's the whole balance that's important, otherwise buyers just move on. A lot of developments have just no clue at all.

I'm starting to witter and dribble, and my headache is coming on again, and it's my drinkie poo's night, so later..............

 

 

This message was last edited by wflem007 on 12/15/2007.

Will, i'm so sorry you have left now will and i mean that. i hope you come over in january and find a suitable re-sale on our site so you can have the outcome you so desired.  i have had no choice in carrying on with our purchase as we now have a completion date for jan 23rd.  I am having to send over another 18,000 pounds as a result of the poor valuation and the affect this has on our 70% mortgage.  and yes! we have been offered a flat screen tv people!! 

anyway, i am hoping that the valuations don't reflect the re-sale value at all after all the development is completed as i am sure it will still be a very sought after development. i am sure prices will return back to the higher value soon.  the negative dealings from the development, together with the delay and all the other problems have given our site a bad name which people are wary of.

for those of us still in, i hope it all runs smoothly and we are happy although i did think being in spain we would get the dheli belli (which i seem to have constantly from this purchase).

Alan, you stick in there. you bought at a good price (much better than ours) and we will keep you posted constantly in time for you to cancel should you need to before the LFO comes in for your block

suzanne

 

Suzanne

Thanks for your kind words - If we had bought in at your price, we would be staying, and don't feel too bad, you're doing the right thing even with the recent valuations. This is being replicated all over the area, particularly with uncompleted apartments.

Valuations will come round again, but you need to be at least in on a fair price to begin with, we were not.

It is a great development, and I think this will be confirmed (in our eyes at least) when we are over looking at a few other developments.

Dear Will, I'm sorry too that you're having to pull, but it's so understandable. I would like to wish you the very best of luck when you go out, and if you can find a bargain on Arenal, so much the better. We'll be able to meet on our balconies for a Sangria. We've been talking to a lot of people who live out there now ( it was 25 degrees last week!) and they all feel that it's going to be quiet for about a year to 18 months on the property front and that it will undoubtedly pick up again after that. It's the weather. You just can't get that kind of weather all year this close to the UK. Again, all the very best. Let us know how you got on. Margo

Good luck Will and Marianne. My wife was sad to hear you were leaving as you are two of the most positive people on the site. I understand though and we are in the same position except in Phase 2.We have not had a valuation as yet but are hoping its going to get much better. We paid considerably more than anyone who has said what they paid and are really going to be hurting if the valuations don't improve and it might not be affordable for us either.

Hello to everyone that replied two the last postings we have made
Judging by certain replys, it seems that I maybe did not make things very clear when I made the first posting
One person in particular, thinks that we just sat back, untill now, before doing anything, regarding our worries and issues re developers/solicitors
This was NEVER the case, as I said when making the first posting we have lived in Spain since December 2004.
So as most people would, when I had worries I visited the sight, because we never got anything but blind assurances from our solicitors(Lex-Marbella)
I felt it was the best option. This may now in hindsight have been misguided, as the reassurances I was given fitted in with things that were being posted in the local papers in general, about the lopcal building situation ie, There was a Strike at the most prominent cement manufactures  in Andurlucia early in 2006 that went on for some considerable time. and With all the Majoral problems here, several local councils were way behind,  with habitation consents Etc,

It was only when after using up more than we wanted of our retirement funds that we have taken the step of having to work again . Duquesa was to have been our little extra, rental etc to help things out.
It was only when we finally thought we cant keep on with the delay after delay situation and decided to market it this september that we found out that 2 of the biggest agents in the Duquesa area would not touch properties on our developement, for some considerable time. We had to FORCE the isuue with our solicitors.

Who as I said before insisted that there would not be a problem as the bank guarantees are in place and a full refund off our monies would be made.

Now we are told that the bank has no record of our request for a refund, which was supposed to have been made by our solicitors.
And that a completion  date has been set we are not entitled to our monies and have to complete in less than 4 weeks.

At the moment we do not feel inclined to part with another penny, of our money, as we have totally lost faith with the whole idea of managing a property there.
and if we are unable to sell, may just have to walk away inspite of the many thousands of Euros we would lose.

I would be very interested however if any other people out there have or are using Lex-Marbella, as most of my anger is with them, for not telling us anything untill we contacted them. And Allthough I cant prove it I think that just maybe they did not contact the bank re the guarantee, because its better for them financially for us to complete,

Sorry if this has been a rant but as you may guess I am a tad frustrated.

Regards to all Duquesa people who use this site as its about the only truth that we have come accross in the whole sorry episode.

Happy Xmas

Mick.

i;m sorry to hear about your story mick and hope you get it sorted. I cannot really advise you on this and urge you to think about carrying on now and re-selling a little later when the site is up and running and hopefully back in the market as a good site to own on.  I wish you well and a merry christmas to you too.  maybe we all meet one day if you go ahead with the purchase.  Are the solicitors denying your request to cancel now?

suzanne

 

I was yesterday at the site and talk with Paco, Maria and Luisa. They was very friendly. Luisa is chief of the builder at the site. She is very correct and ready to decide all question. When I ask mr. Paco about original LSO he answer me that LSO at Cordoba. I was ready go by car to Cordoba for looking at original this document. After that arrive Luisa to office and show me ORIGINAL LSO!!!!! I keep this document in my hand !  Then we go walk to the apartment and check all. Basic moments O'K, but : the size of garage in contract 34 sq.m., really - 15 sq.m. Trostera is 13,6 sq.m in agreement, really - 9 sq.m. All electricity checks for all apartments absent !!!??? The not ready block near our 4 block (don't know number) - it have problem with right side of fundament (one of it legs). Any road for walk in the site have problems. Swiming pool is well, sport places well too. The road will be ready after 3 monthes, becouse this work doing autamiento. Here work yesterday only 2 cars. At site I looking only 1 garden worker and 1 electricity worker. But all ready blockes is clean, in apartment clean too, all kitchen mashine work well. Becouse I speak english not well, you cood look more full text at russian here:  Вчера совершил экспресс-тур в Манилву для понимания ситуации на месте. Положительные моменты: 1) Наконец-то появился ответственный представитель РУКОВОДСТВА  компании по имени Луиза на месте, который готов решать возникающие вопросы. 2) "Геренс" готов подписывать эскритуру и передавать право собственности на те апартаменты, на которые имеется полученная в октябре лицензия. 3) Первый клиент подписывает эскритуру 10 января 2008 года. 4) Имеются списки клиентов С ОШИБКАМИ, в которых указаны приобретаемые апартаменты. 4) Представлены правоустанавливающие документы на изменение названия компании с "Аренал Сур21" на "Геренс". 5) Я ЛИЧНО ДЕРЖАЛ В СВОИХ РУКАХ ОРИГИНАЛ LSO. 6) Вход на объект СВОБОДНЫЙ. Отрицательные моменты : 1) Ошибки в номерах квартир - по предварительному контракту я покупаю квартиру на этаже baja , по их документам - на первом.  ВСЕМ участникам проекта надо проверить свои данные в списках . 2) В 4 блоке, а возможно и в остальных, отсутствуют электосчетчики на квартиры, следовательно, контракт на электропотребление не может быть заключен. 3) Многие пешеходные дорожки имеют дефекты - трещины, продавленности и сколы плитки. 4) Активных работ на объекте не ведется - видел только двух рабочих. 5) Дорога автомобильная активно не строится - видел две единицы работающей техники. 6) Общее впечатление - как в операционной, где пытаются реанимировать больного, но не имеют для этого ни сил, ни средств. По поводу следующих фаз № 2, №3 и №4: работы на фазе №2 будут возобновлены через три месяца после окончания подъездной дороги и сдачи всей фазы номер 1 целиком. Пако сказал, что стоимость обслуживания будет примерно 120 евро в месяц. Всем Удачи

Hi It's me.

(I'm the bloke still hanging around the back door wearing the hoodie)

Vlad - your English is a lot better than most of our Russian.

This question of the actual sizes of the apartment came up before as I remember it but wasn't taken too seriously at the time.

Somebody else had measured the actual apartment and it had come up short compared to contract specification - can't remember the thread or poster at the moment................

Definitely something to check out again.

Alan...Just one thing ahead of today's game.  Why can you not get a cup of tea at White Hart Lane?   Because all the cups are at the Emirates and the mugs are on the pitch. 

 

 

Tracy, at least our reserves gave you a game today! And we should have had another penalty.
Oh yes we're supposed to talk about apartments aren't we?
Alan

Hello Suzanne thanks for your reply posted on the 18th, Yes our solicitors are rejecting our request to cancelation saying that now the habitation consent has been granted there is nothing we can do but to complete, all this even though they acknowledge we advised them of our wish to cancel at the begining of October.

We are still trying to fight it, however and have been in contact with them again this afternoon rejecting there current ADVISE.

To be honest if we could complete knowing that we could sell soon after, and just get our money back that way, not after making a profit,  we would stop fighting it, but the advise I have had from several agents in Duquesa, is that it will take ages to sell as confidence has been totally lost in the developement. 

Hope you all had a great Christmas, we have spent it at our home in Alhaurin El Grande and for days leading up to Christmas day I thought Noah would be putting in an appearance..

 

Mick

 

 

Mick, go and have a look at those recent photos! It's a lovely development and after we've all completed, and it's up and running, confidence in the development will return. Happy New Year to all. Hope 2008 is a great year.

Mick

I agree with Margo and others - it is a great development, and when everything has settled down in a year or so you will wonder what all the fuss was about.

Once again I have been slightly negligent in checking this forum regularly mainly due to traveling about, being far too busy and the fact that the waiting got so tedious... I just kept my fingers crossed that it would all happen and fall into place ..... albeit eventually..... it was after all just a matter of time :o)   I am so glad to see that people have been notified of their completion dates.  I am really pleased that the waiting is over for a lot of us and that very soon people can begin to enjoy their apartments.  From the recent photos that were posted, the development looks fantastic to me.  Unfortunately I am one of those that has to wait a little longer since the disruption to the road affects my apartment block.

I really just wanted to say 'How gutted am I?' that Will is apparently 'making his way from the building' even if he is suggesting that he's still loitering at the door!  Once again I appreciate all the reasons you mention Will, but isn't it possible that once people start to move in and the last phase is finished that the prices will stabilise and begin to regain your previous valuation?  If you are set on going, I sincerely hope that once you get your deposit back you manage to negotiate and get a bargain deal on the apartment you are releasing - it may be well worth a try!  You are a true gent sir and will be sorely missed.... keep tuning in please and let us know how you get on.

Thanks too to Peps for the info re the compensation, I was wondering whether we would need to chase it up legally after completion, but if they are taking if off the purchase price, that will suit me very well.

Finally, one last wish - to everyone a Happy, Healthy and Prosperous 2008, G&Ts on the terrace don't seem so far away now!!