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Hi All,

I am not too sure whom is included in the 'Doom & Gloom Merchants'  tag but I for one cannot accept the statement  " PATIENCE IS A VIRTUE " when aplied to my personal circumstances relating to San Jose.  My issues re Bank Guarantees have been stated in this thread.  A substantial amount of my life savings are invested in the Santa Ana deposit and despite all promises to the contrary a Bank Guarantee has not been issued.

In simple terms my ilreplacable savings are at risk.  This is illegal. 

Quote - Page 98 Spanish Homes Magazine December 2007.  Bank Guarantees are compulsory by law.  If the developer fails to provide you with a bank guarantee he will then be in breach of the law.  Failure to supply a bank guarantee is illegal and therefore you have the right to demand an immediate bank guarantee or to terminate your agreement recovering any amounts paid... your current situation is illegal and extremely risky for your interests.  Something should be done as a matter of urgency.

Regarding: See some of you at SADM, sometime next year !!  I truly hope so.....

Kind Regards
Chris

Hi All.

Chris.   I do understand your concern and those of you that dont have a bank guarantee at the moment the reasons for which do not have to be sinister and it does not mean that San Jose are going bankrupt. Alm talks about S.L. companies building complex's like SADM and then going bust leaving San Jose still intact, well i have my doubts about that. In any case even if that is true about S.L. companies although i would think the workers are more likely to just be self employed, if they were to disappear, San Jose would just replace them with other workers or a different S.L. company, afterall i would think that San Jose would much rather complete the site and receive 100% of our money rather than some 30% deposits only.

About 10 months ago some people were thinking like that until they built the foundations and then it all became very rosy. Now we are waiting to get the go ahead for the upward build to start some people are getting nervous again and Alm who has been very quiet for many months and not even buying a property on this site has decided yet again to put his twopennyworth in. You are of course right Alm in that people could be losing say 2000 euros per year interest on their deposit but the value of their properties over the last two to three years has gone up by much more than that. I bought my Azucena three and a half years ago at 105,000 euros and it is now valued at 132,000 which on my calculations is an increase of 7,714 euros per year, which is about four and a half times what i would have made in interest on my 30,000 euro deposit. One of the advantages of buying off plan.

One thing i and most of the people on this Forum have learned is that buying off plan is very slow and fraught with all sorts of hold ups and problems, just spend half an hour and look at some letters on the other Forums on this site like Sierra Golf, Mojon Hills and La Torre Golf and you will see they are having or have had the same concerns as us. Some people have completed and some others are still waiting since 2003, 2004, 2005 etc. A long drawn out process, like this message. Ha. Ha.

If people want to live the Spanish dream quickly then dont buy off plan but buy a resale and move in within 6/8 weeks.

Once they continue building we will all start to feel better once again, so come on and lets get back to being positive. I have found in life that positive people are often leaders and negative ones the followers. I know what i am.

NO COMMENTS PLEASE. Ha. Ha. Again.

                                                    Best of luck to all of us.   Bob.

Hello Bob,

Just like to say we fully agree with all your comments.

Regards

Chris & Julie

Hi Bob,

Re:

• '......those of you that dont have a bank guarantee at the moment the reasons for which do not have to be sinister....'
• '...San Jose would much rather complete the site....'
• '....very slow and fraught with all sorts of hold ups and problems....'

I would concur wholeheartedly however I am not concerned about negative or positive moods nor indeed do I mean to give that impression.   I wish to reside in Jumilla.  I do not view my potential purchase as a monetary investment.

Despite promises to the contrary San Jose have not issued me with a Bank Guarantees and this In simple terms puts my ilreplacable savings are at risk.  

This is clearly illegal. 

If I had a bank guarantee I could relax - 2008 / 9 eveb 2010 completion I could live with,  PROVIDED my money was guaranteed.

If someone else will guarantee my deposit then great, I'll be happy but then I'm dreaming.

Kind Regards
Chris

Hi All

I don't post very often as normally I don't really have any news to update anyone with however I very much agree with Chris's posting and feel we should all be able to have our say whether up beat or otherwise. We bought almost 3 yrs ago and San Jose have 60,000 euros of our hard earned cash we never expected buying off plan to be easy but we did expect to be further down the line than this. The only communication we have had from San Jose in all that time is a contract to sign nothing else no other updates. Both our solicitor and our Estate Agent find it very difficult to extract any information from San Jose which is totally wrong. If there is not a problem then let us know the truth if there is a problem then let us decide what we should do about it.

Yes Jumilla is a lovely place and hopefully the development will go ahead eventually but perhaps it may be too late for some of us and people without Bank Guarantees have every right to be worried we have one but it costs us 142 euros per quarter its like an insurance but at least its better than nothing.   

We are becoming concerned as to what is going on but will wait until we are out in Spain in early May before we make a decision as to what to do next, we each have to make the decision that best suits our circumstances and I hope this is not construed as doom and gloom but just as someone who is at this moment in time concerned .

Cathie

I accept that San Jose would much rather complete the site and receive 100% of our money rather than some 30% deposits only, but nowhere near 100% of the site is sold and unless a considerable proportion is, how could they fund the leisure facilities.

You bought an Azucena three and a half years ago for 105,000 euros and it is now valued at 132,000 you say, but who is this valuation by?
Is it the bank who are at present down valueing by 25 to 35% as the market has fallen?
Is it the developer or their agent, who have to keep the prices showing an annual increase, just to keep their bank happy. If they were to reduce the asking price, it wouldn't look good for the bank or the people who have purchased at a higher price.

HAWKINGS111 Please do not make statement regarding my ownership of any premises unless you know the facts. Obviously you are very blinkered and a dream for any developer or agent.

You bought three and a half years ago for 105,000 euros and it is now valued at 132,000 (don't know by who) which on your calculations is an increase of 7,714 euros per year, which is about four and a half times what i would have made in interest on my 30,000 euro deposit. It must be wonderful for you, so why are so many wanting to off load now, or don't you read the ads?

One of the advantages of buying off plan you think, despite every man and his dog including the media warning people off. Don't you read the news?

Alm your getting boring

Kevin

Facts often are.

But to those who don't follow the pack and have a mind of their own, it is different.

If you find it boring, why read and then respond?

Hi Alm.

Since you probably dont know how many properties have been sold and presumably have no idea what S.J. profit margin is on those properties and also how much it will cost them to fund the leisure facilities, the first paragraph of your message is meaningless.

When i said the valuation of the Azucena is 132,000 euros, that is because that is the price they are being sold at now by S.J. and whether or not you think that is too high or low is a matter of conjecture.

No Alm, there are not that many people who want to off load now, they are just people who are concerned about not having a bank guarantee to cover their money and such things like that.

I do appologise Alm if i was incorrect in stating that you were not buying at SADM. By the way Alm, just out of interest, which phase and plot number are you, we might be neighbours????????????

One last question Alm, Why do you in your messages never seem to say hi to anyone and dont appear to sign your name??????????

Hi Bob

I hope he is not my Frigging neighbour

Kevin

Hi All.

Kevin, we all know he WONT be anyones frigging neighbour, he owns nothing at SADM and just turns up here now and again to stir the Forum up but generally with no luck. This is just to let our newcomers know who he is and what his game is.

Those are my last words to, and on, Alm.

      Goodbye Alm.                    Bob.

One thing for certain, I will not be a neighbour of either. The reason, try thinking for once.

Owning on the development. Nothing but ignorance of fact.

This is just to let our newcomers know who he is and what his game is.
Just as well the site Mod knows different, in addition to othe members of the forum.

How deep now, down to shoulders?

Hi all   from what ive read i think alm is an idiot. dont mean to offend but thats how i see it.     and if he is buying one in sadm i hope he isnt my neighbour.

Come Come Boys

you have been busy posting whilst i have been at work today !!!!!!!

GAL