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Alm

You will not get me cross I just find you funny if not slightly ridiculous now. Obviously your desire to criticise other peoples postings illustrates your inability to say anything truly constructive.

Arnold G. Glad to hear your news. For this to be true it would mean that the reparcelisation would have gone ahead and there should be some mention of this on the BORM. It may be worth taking a look it gets updated daily but sometimes things are sometimes posted a couple of days after the event.

Anna

This message was last edited by willyboy on 4/3/2008.

 

Dear arnoldg (?), understanding your desire to spread positive news however please be aware:

BANK GUARANTEES are a legal requirement under Spanish Law and should cost you nothing.

Effectively, it is ruled in the National Law of 1968 and in the “Disposiconal Adicional 1ª de la Ley de Ordenación de la Edificación” that he developer must give the correspondent a guarantee for each amount of money that the purchaser delivered to them before the signature of the deed (the contract).

It was confirmed by our Abagado that if a guarantee bank is not provided (a legal obligation) then the contract is a cause for resolution.  In another words you can sue San Jose for breach of contract and subsequent return of monies paid.  However this will cost you around 6000 - 8000 euro and may take up to 4 years - a fact San Jose are very much aware of.

San Jose used to issue BG's albeit maybe 2 years ago however they appear not to be able to issue BG's until, they say the licenses are issued.  Maybe now, no bank or insurance company will issue a BG until the licenses are issued but this does not change the Law.  San Jose are breaking the law.  Your money (and mine!) is at risk without one.

Unfortunately I am only aware of depositors with BG's receiving their deposit back once the completion date + 3 months have elapsed - they initiated the BG.

Maybe other bona fide purchasers know different?

Kind Regards
Chris & Arlene

 

That is great news. No doubt "work will start in earnest" again?

In the meantime, will just stand back for a while whilsy some digger deeper holes in the sand to bury their head further. Australia here they come.

When something considered constructive is written, it is greeted with abuse.

Good luck to all you footie fans who are planning to meet on the development.

The BG tied in with the Building Licence?
That would have been known to the developer all along, so why not tell purchasers that instead of stringing them along in the belief that the BGs were being arranged.
Head in the sand time again?

The compensation packages, again, just hope it equates to inflation + loss of interest + losses due to exchange rate since first dates.
Another 2 shovels depth please?

"British patience" - Yes, that is why so many have lost so much. Accepted excuses year after year. Not just on this development.
Why not for once call for British common sense?

Dear Chris & Arlene,

 

Many thanks for that, I am aware that they were supposed to give a bank guarentee but I wasn't aware they were free as from the outset my solicitor made me aware of the costs of supplying one.

I am more than aware our money is at risk but there is not a great deal I can do about it, I want the property and not the money back and I suppose I'm willing to take the risk and two years on I still remain confident.

Thanks again for the warning, perhaps I'm to trusting of people!

Gary an Jo

Well Alm at least we tried to warn people, even if they were rude unfortunatly it looks like my friends have lost everything now the company is in Administration . Im so glad I bought via a different company and have something to show for my money, my heart goes out to all who have had their dreams shattered.Since we are ment to be the same person I hope you are ok.

 

Hi All,

As San Jose has the licences and our deposits they are in a position to proceed with the project except for the funds to lodge with the town hall. I can understand that by going to courts they fix the amount of money the delay would cost them in compensation etc. With that fixed and the amount of properties that they have deposits on and I believe it is 1700, I can not see the project not proceeding, especially as 50% of the purchasers are Spanish!

 

I have spoken to the European Financial Director where I work and he believes that the project will go ahead and it is a financial exercise.

 

So do we want our properties?    I do!

 

There is lots of talk about legal action but that is the last resort and who does it benefit? I have not yet met a solicitor who isn’t after money and we could have an ambulance chasing situation going on. Solicitors smell money in all of this and what I and I hope we all want is for San Jose to sort the finances out and get on with the build.  We need to let it be known that we want the project to go ahead and give it our support and only prepare for legal action if necessary!

 

And lets not forget San Jose have given us some compensation already by including the pre-installation of the air conditioning and being honest I thought there might be some delays. It is Spain

 

I and BrianMags are meeting with San Jose on Thursday and our solicitor and bank plus agent whilst there. We will send you all a report on what we find out.

 

All the best

TonyMal

TonyMal,   well said  and i agree with all that you say.  lets hope you have luck on thursday.  

Good luck we look forwardto hearing about it.

Malc,

HI Tonymal

Our preference would be for the project to go ahead, but we will obviously need very strong reassurances that this would happen and our monies will be safe.  I have a couple of questions though, that you may know or be able to find out
1. How do you know that they licenses are ready to go?  WE have been  given excuses for some time, so are you suggesting that these delays were purely financial?
2. If the project went ahead, would that just be for the 1700 properties or so already 'sold'?  What about the rest of the developement and the facilities?
3. What about the so called issues with the water supply?

Any info would be greatly appreciated.

Tracey

Hi Tracy,
i have ask.ed my solicitor in Spain to contact Jumilla own hall and ask for confirmation regarding the status of the licences.The other 2 points you raised are going to be asked when i am there in person on Thursday with BrianMags and we will be pushing for answers. We are both fairly assertive and will give the answers to all of you plus we will try to get documentation or written conformation of the answers we recieve.

I have a deposit on a 4 bed Rosita , one being a granny flat for my mother ( R17 plot 18) and I do not wish to loose my large deposit but I really do want my house! I beleive anything is achievable if you try and i am not ready to give up!

Al the best to you
Tracy and all Santa Ana colleagues

Tony , that would be fantastic if that was true, however I fear the worst. You have to ask your self if San Jose really had all the assets they claim (€300 million in unsold properties ) & only owe €30 million, would they have allowed themselves to arrive where they are now? Administration!! Absolutely not. 
They would have sold off properties at a massive discount if they had to.... anything to raise that 30 million they needed.
I am being realistic not negative.. think about it... it doesn't look good.

Hi Mossymor,

The problem we have is that can only sumise and jump to unsustantiated conclusions regarding our development.  We need to hope for the best but prepare ( and i only say prepare) for the worst.  If we have several law firms fighting for money what do we think the out come is going to be?  Yup! Its going to cost a lot of money and take time. So I think get facts and decide what you really want. Do you want the property? Are you prepared to wait a bit longer? Are you prepared to say " What can we do to help and make this hapen?"

Is it now is the time for ALL of the residents to be of Santa Ana to come together and form a representative organistation to speak for us all. That way we decide what we want to do and can avoid being led  blindly into litigation when it may not be necessary and could make things worse.

Anyway i have to dash and get my flight to Murcia.  I still intend to get facts and i still want my villa!

All the best
TonyMal

Tonymal,
I am with you on this one i have some questions but do not seem to get any reply from the solicitors.

1. what is the potential outcome from the court hearing, a lot of people are saying they have been involved in these before but what are the options that the judge has.

2. depending on the outcome of the court, would depend on what action to take i would have thought, as the court has to inform all owners of there decision in writing dont they.

has anyone else seen a copy of this kind of guarantee issued by the bank to san jose, i have been advised what it means but wondered if anyone else had one. This is not a personal guarantee

Dave R,

Yes i was given one of these when i enquired about what guarantees do i have if the company goes bust. My agent then contacted San Jose and their reply was that if i wanted a guarantee we would need to go to the Notary, pay the fees there and then pay a monthly fee to the bank. They then produced this letter along with one from another bank saying the exact same thing.  I guess i thought this was some form of guarantee. At no time did my agent or solicitor advise me of bank guarantees.

Steve.  

Steve,
i was also advised by my agent through san jose that i would have to pay for a guarantee and then i would lose my white goods allowance that the agent was giving me. they then gave me the attached guarantee. however i am sure this can be used in court if need be.

Tonymal
I too would want the house built if there was a way, even though it would take time.  Meaning no disrespect but many lawyers do assume that everyone wants their money back.

Hi Linda I agree too I want my house built.I have had it my head that it would probably be the summer of 09 before it was completed due to the delays with the building licences.If San Jose are allowed to continue to trade by the court administration then I am prepared to wait for my house. I dont want to live anywhere else,Jumilla has such a good feel factor nothing else can compare. Cheers Joanniemac

Hi everyone

John and I are also totally committed to living at SADM, if at all possible.  We cannot afford to lose the deposit though, especially now that we have both retired!!!

As many of you probably know, we are renting an apartment in Jumilla, with a contract until the end of December (as that was our revised completion date.......!).  We were in Jumilla when Heather sent me a text about the latest happenings at San Jose, so rushed to the nearest internet cafe to find out more.  We were both very depressed at what we read, but decided to walk out to SADM, half expecting it to be all locked up!  We felt a lot better when we found a few workers there and a helpful woman in the office.  IF San Jose get the go-ahead to start building, we will give regular updates and send photos to the forum, as I am sure Linda will be doing.

We will be moving to Jumilla more or less permanently on 13th June, though we will be back in the UK between 2nd and 8th July, then have two short trips planned for the beginning of September and the beginning of October.

It would be good to meet up with anybody who plans to visit Jumilla over the next few months.  Just let us know through the forum, and we will pm you with our mobile numbers.

Sue

PS As well as being a lovely place to live in, the people in Jumilla are very friendly and we already feel quite at home there, in spite of our minimal Spanish.

I totally agree with Linda and Joanniemac, I would much rather have my villa built.  My completion date was May 09 and I had already been advised it would be Dec 09 so like Joanniemac had resigned myself to a delay.  My villa is on R19 (ie. not the first phase).

I have been told that San Jose basically used their cash reserves at El Pinet (foolishly!) and when that was delayed by an environmental group (they have just won the case) this meant that when a handful of smallholders at Santa Ana held out for more money than originally agreed for their land (again won by San Jose) they got into the state they're in now.  They thought they could get bank support but the one they had been expecting to support them took fright at the global credit crunch and wanted to spread the risk amongst them and 3 other banks.  However the 4 banks couldn't agree on who would have what % of the developers mortgage, time ran out and San Jose applied to go into administration.

I don't think it is in the banks' interests to let San Jose go to the wall, they would have to pay out too many bank guarantees (including mine!) as whilst many people didn't have them, a large number did including all of us who bought through Ward & Co.  With so many properties already sold on the site it IS economically viable to continue.  I am not naive and keeping close tabs on the whole situation via this wonderful site :-) and through Ward & Co (who have responded promptly and helpfully to me which helps!) but I do feel that ultimately the banks have too much to lose to not make sure this development goes ahead.

Incidentally am I the only one who bought through Ward & Co?  Other companies have been mentioned but not them.  Is this because people are less worried due to the bank guarantee I wonder?  In any event, my heart goes out to everyone in this difficult situation.  If and when SADM is built I look forward to meeting all the lovely people from EOS forums :-)

Like the rest of you, my stomach and head were doing summersaults when i first read the news. There are daily slants on the way things will go and we try to keep positive about it all. I had an e-mail last week from Annabel at PSI. I have replied to her explaining that most of all, i would like my Tulipan  (R4) to be built.
I was appauled that Ambasun in England did not have the knowledge of this and i have written to Diane (at Ambasun) again today, who is unaware of any meetings this week.
Keeping so much hope that things will turn out well for us all. 
Kay and Malcolm