Best way to finance a purchase

just come back from a visit, and been told from the girls in office that our house wont be ready till june 09, we too are pulling out yes the goal posts change every time you visit, we have had enough how many years do you wait, this would be four years by time we get it, you can only wait so long. visited other estate agents in the area who have said that there are bargins out there despite the euro. for those who think that there will be  good rentals i think you may have problems we walked right round the town and there are so many villas for sale or rent,we were told that the only time it will be busy is august. And the girls in the office told us that they are selling 3 bed house for 209 now with the white goods. We also drove up to roda to pensia s other site, houses there are not all finished there. calis del pinar will be great for those willing to wait the show home looks really good, good luck to all.we just cant wait any more.

Hi

Sorry to hear you are withdrawing.

We agree in relation to rental, there is a lot of rentals already in the resort.  How much of an impact this will have will be depending on the level of rental required to make the purchase viable.

Out of interest, which phase were you buying on to be told June 09.

We are on release 5, phase 7 and are expecting completion March 09, which will mean 3 1/2 year wait!  We agree the wait is very considerable.

There are plenty of re sales out there, but it depends on the price band you are looking at.  Under 200,000 euro's you are limited.

The CDP plot is so central in the resort and this is why we have stuck with the purchase, we feel however the builders should be showing some compassion for those who have patiently waited and offered white goods.  We pushed for this, even saying we were withdrawing when we visited a few weeks ago.  Their HO are not budging but they have advised that some agents have made concessions with their buyers in relation to supplying items, such as white goods from out of their commission.

The only saving grace is that by waiting, we can at least monitor the euro rate and try and get back to somewhere near to where we would have been a year ago.

Regards

 

 

we were buying on phase five, progress is looking good but we cannot see that our house would be ready when they say, each time we have visited the girl in the office gives us a different dateand we have been there several times in the last eighteen months, also you have got to take into acount that the habitation licence could take up to three months, our solicitor has told us that. adding even more time.It will be four years we are fed up with the goal posts changing every time we visit.There are another five people pulling out just from our solicitors alone so how many are pulling out? we wish you good luck.


This message was last edited by thfc on 4/2/2008.

We have had interesting dialogue with our solicitors, which I thought is worth sharing.

Over the last 3 months, through the solicitor, agent and direct contact with the builders we have been pressing for some form of compensation, in relation to the extensive delays - white goods etc.

We visited the site last month, advised the office we were seriously thinking of pulling out if we could not get some form of agreement. 

When we got no joy, except an offer to change plots to a earlier phase, we said we would continue to review our options, including viewing re sales in the area.  The final conversation was that we would need to put in writing if we wanted to withdraw.  This we have never done.

We were therefore surpised yesterday to hear from our solicitor by telephone to say the builders had contact them to say, we wished to withdraw - almost encouraging us to do so.

Our bank guarantee for our property, scheduled for March 09 completion now - phase 7 is up for renewal.  The solicitor is suggesting, we may need to go over to give power of attoney to pursue the guarantee if one is not forthcoming.

Given we are legally entitled to the bank guarantee, combined with the number of people who are saying they are withdrawing, why would the builders firstly make the call to the solicitors and subsequently make it difficult for us to refresh our guarantee?

Any idea's

 

Hi Rowleyhouse,

Regarding the bank guarantee renewal, our experience has
been that Peinsa have dragged their heels every time ours has
has needed renewing. We did not have a bank guarantee
at the start, but the first one we managed to get out of them
expired end of July 07. Despite our prodding the solicitor in
Spain in plenty of time, the new bank guarantee did not
appear until around October, with a start date of 26 Sept 07.

That one expired 30 March 08 and we are still trying to
obtain the renewal, so par for the course, maybe?
We carry on nagging the solicitor, and hopefully it will turn
up eventually!

As you say, Peinsa's apparent willingness to cancel is
surprising given what appear to be difficult times for the
market over there. Perhaps they believe the spec and
location of Calas is good enough to maintain its prices
more or less, and they will be able to re-sell in a while.

I haven't done a direct price comparison, but the sales
value to Peinsa of a CDP unit may still be above the
price many of us originally signed up for, even taking into
account the trade price of some white goods
now included in the kitchen. In which case, cancelling
and re-selling might not be all bad news to them!

Who knows? And lets hope the exchange rate turns
round before those long-suffering punters who hang
on have to cough up the rest of the dosh!

Regards,
Grant & Lynne
Ph 5

Hi

Have you listened to the podcast /interview with Justin and the spanish lawyer Maria Luisa de Gastro. They interestingly talk about bank guarantees - the fact that really they do not need to be renewed ( however our solicitor is supposed to be in the process of renewing saving it is better to). It also discusses habitation lisence and other useful topics.  on www.eyeonspain.com/podcasts

Wouldn't it be great if we could succeed in receiving white goods in the form of compensation - waiting so long . isn't there something written down somewhere that past 3 year wait they are breaking their contract?

Wishing everyone good luck, and hoping one day we can have a stress free life!!

Carole