Driving to Gibraltar

Hi

Me and my wife have brought in Santa Ana over a year ago and where given a completion date of May 2008. Our quad villa will never be completed by then. Our agent (who are a uk based company) have not been updating us of the problems of the development so we decided to meet San Jose face to face so we flu out to Spain last Saturday (12-04-08).

We got back from Spain a few days ago, we chatted to San Jose at there main office and to be truthful they seemed very professional and where helpful. They told us about the problems with the licenses at Santa Ana, They basically said that a part of the land on the site is not owned by San Jose but is owned by someone else who is reluctant to sell, but San Jose have managed to buy the land now. They have submitted the application now for the upbuild and that they expect all licenses to be granted in a few months.

Our agent has advised us to back out of Santa Ana, Licenses might get granted but only god knows how long it will take to complete and what other problems will occur considering the scale of the project. They told us completion could be around about 2009-2010. We are in our late 20`s and looking for investment and with the current climate around the world is Its not worth the risk for us. We where told by San Jose the prices have not increased since we first brought the Quad Villa over 1 year ago.

San Jose offered us air conditioning, furniture, a place to stay on holiday in the summer, 4% a year until completion of our property or a move to Playa Golf but the price of the same property is way out of our budget, 202.800euros compared to 134,000euros. Even with a 10,000euro discount it’s not affordable for us. We did like Playa Golf it’s close to Golf, Sea, Shops, Beach and airports and has a good rental return which is what we are looking for but once again the price is way above our limit. We asked for our money back which they have refused. We explained to them and they do know that they will be in breach of contract soon and we will sue them. I suggest that people have good layers in Spain.

We are waiting and thinking of what to do next. I hope I have helped some people and I don’t mean to alarm anyone from what San Jose have said to me in person it looks like they will get the licenses in the next few months and building work will commence but who knows when completion will be.

If anyone needs any help you are free to contact me.

Cheers,  Adios

D.

Unfortunately we are not prepared to wait amy longer and sadly are pulling out of this development.

Thanks to everyone for their postings we really did get alot of information from the forum.

Good Luck to everyone

Cathie and Charlie

R10 703

Best of luck. You can't be blamed for your decision.

Just hope that not too many jump ship as there will be little incentive to any developer to start construction when just a few percent of properties are sold or under offer.

Hi Cathie and Charlie

Sorry to see you go, but I can understand your reasons.  Good luck to you both.  Good luck too to kalghotra.

If and when San Jose can resolve their problems with land acquisition and licences and actually start building, I am sure there will be plenty of other people willing to buy.  The prices are so much better than near the coast and the setting is so beautiful, that Santa Ana can't fail to impress.  I am sure that when building starts prices will increase too.

Sue

"I am sure there will be plenty of other people willing to buy."  Nice that you have confidence in that this development can buck the trend, unlike all others in Spain and elswhere in the world.

You obviously believe that the terrible state in the financial market at the mo will have no effect on sales of properties and that anyone needing a mortgage to buy, will get one. or do you think that all the properties proposed will be sold to cash purchasers only?

"The prices are so much better than near the coast" Do some homework and you will find properties reduced so much on the coast, that prices are even lower than on this development.

" I am sure that when building starts prices will increase too."   the when, or maybe if are the critical points here. Say it is another 3 years, that would be a nice income from interest for the developer and at the purchaser's expense.

There again, there are the compensation packs. Now why do you think they are offering such?

good 'old' Alm always gives a positive response to every message posted!

Yes, says it as it is although many don't like it.

Pass the spade plea, I would like to bury my head in the sand again.

Why?

Could you tell me how much you are borrowing to buy on this development?

How much do you earn?

What are your outgoings?

Can you really affor it?

Personal isn't it.

If it is of such great concern to you, you can always PM me and the response, it will be stated is in the strictest of confidence and at no time can be quoted. If you decided to do so, remember to give your full contact details for records purposes.

No one on this forum wants your personal details, just to know if you are buying or not so they can decide if your postings are for the good of this forum for those like me that are comitted to this development, so again are you buying or not???

I said i would not be posting on this site anymore but on this occasion i will answer your question arnoldg, as to whether or not Alm is buying on the SADM developement. If you go to the thread: Can you get your money back?, and look at Alm's posting dated 02 Apr 2008. 3:39pm, paragraph 4, it reads, and i quote:

Taking risks, well my boy,i certainly have and can now look back after numerous property deals and think thank god it was THEN and not NOW, with the state on the markets, both financial and property.  Unquote:

I think that answers  your question arnoldg.       Cheers.  Bob.

To be honest  what Alm is saying should give buyers concern. It's just unfortunate the arrogant way he puts his points across makes buyers look like fools. You will notice in his style of text he usually asks the questions. He doesn't know the answers himself and also knows that buyers don't either. Although he provides no information himself the questions he asks are important and buyers should take them onboard.

Many thanks Bob, I must have missed that message, so it would seem that Alm is not buying on this development (and he/she will not confirm either way) I agree with taxiparrots that this person does mention things that are of concern to us all but never comes up with any solution,it seems to me that when any of us post a message all he or she does is dump a negative one straight away hence the EOS team removed whole thread (WHY oh WHY) started by Alm and edit messages from this person(s).

Bob

Nice to hear from you again (never thought I'd say that to a Gooner!).

I do tend to agree with taxiparrots, what ALM says should be a concern to us all, but what ALM says, we all know anyway. Yes the developers are earning interest on deposits paid. Yes the € is getting stronger against the £. Yes there is delay after delay & excuse after excuse from San Jose & trying to get any meaningful information from them is like trying to get blood out of a stone. But we're still in there hoping that the upward build will soon commence.

I don't know whether ALMs' anger is directed at San Jose in particular or just at Spanish property developers in general, but he certainly has an axe to grind.

I welcome constructive comments, good & bad, but destructive comments are just that, destructive!

So please ALM try to be constructive, I'm sure you don't mean to, but you do have a habit of upsetting people.

Other forum members please keep posting, I for one appreciate & welcome all your comments. Lets hope we can all meet up in SADM for the mother of all BBQs & a tanker of vino tinto.

Best wishes

Dave P

Hi Guys has anyone been offered a white Lilly @ Playa Golf as a exchange? If so how much for?

Cheers.

D.