San Jose into liquidation.

For your information Alarmed ,

My savings were involved with San Jose, so I know what I am talking about,however I beleive that everyone is entitled to an opinion without being slatted by sad people who have nothing better to do than jump down the throats of others and spurt nasty comments at them. Whether I beleive in SARC or not is irrelevant and none of yours or Julie Ann's business but I do not impose my opinions so venomously on others that are merely trying to help.. So I suggest you both get a life or perhaps join another forum that welcomes idiots like you 

Hi EOS people, I'm new to you guys and found you through search engines looking for help with the San Jose SADM de-barcle.

Myself & my wife bought (a strong word I think) or rather signed up with SJ for 2 plots (Malva plots 209 & 210) at SADM initally through Smart Investor services from Chester but who have now rebadged (after letting SIS go into liquidation) as Ward & Co - The MD is a chap called Andrew Ward. I am currently represented by a Spanish Solicitor who in my humble opinion is rubbish and I am looking for a better option than working alone to try and either get my deposit money refunded or call the Bank Guarantee's. To the best of my knowledge I have contracts with supposed bank guarantees and hope to be able to get refunded that way, but Ive heard horror stories that the Bank Guarntee's are global umbrella type Bank guarantees and without a contract specific guarantee you can't call it in and it has to stay in the administration process.

I have read a lot of this forum chat and it all looks promising (I think). Is the Irwin Mitchell consortium still running & is it possible to join what looks like the start of a class action?

Regards

Hi Nigel

Welcome to EOS.  I wonder if you have tuned in to the Residential Santa Ana Delmont thread.  Lots of lively information on there.

Regards Chrissie

Sterling \ Chrissie -

Thanks for the heads up, any ideas where I can have look att hese sites is SARC & Residential Santa Ana Delmont thread somewhere on the EOS website?

Do you both have good Solicitors? I'm still  using (sort of) the Spanish solictor  who I was put in touch with through my old property club, but she is extremely slow to repsond to any query and getting hold of her to discuss matters is nigh on impossible. She seems to do the bear minimum it really is seeming painful.

After reading the forum last night I got in touch via both  phone and email today with Irwin Mitchell in Marbella but I havent had a reply from them yet either? ( is this endemic of Spainsh manyarna culture?)

Looks like we would have been neibours Sterling as we were buying R-19 (plots 209 & 210) one for rental and one for golfing holidays, but the dream is certainly looking like its over!

Nigel

If you go to the top left hand corner of this page  where it says FORUMS click, then scroll down until you see ADD ANOTHER DEVELOPMENT, then type in the box SANTA ANA, you will see several developments just click on RESIDENTIAL SANTA ANA.  This will then get you straight into the lively discussions that go on.

Hope this helps

Chrissie

Nigel

Welcome to EOS

Abolex lawyer's (Martin) is very good at replying quickly and seems very helpful

Have you thought about transferring to El Pinet? perhaps you could combine the two purchase's in to one, it is a really beautiful place and looks very promising as the builders are back and there is not an awful lot to finish, there will be less than a thousand properties there, it will be very exclusive.

At the end of the day, you don't want to end up with nothing!

I know someone with a bank guarantee who won his case against SJ before the administration, he was awarded 12000 euro compensation for waiting 6 years for his property. He has never seen a penny back not to mention the few thousand extra euros it cost him to go through the whole process. His lawyer does not reply to his phone calls or email and has abandoned him.

I like most people would like my money back but will probably complete at El Pinet providing SJ drop the price of my property considerably, i don't want to come out of this with nothing. I would not consider any other development other than EP as they are simply awful, just my opinion of course!

FAR

Whoever you choose as your new legal representative, have in mind that in order to ahieve good cashing possibilities, you need to add a contract cancellation action to the intervention within the creditor´s meeting.

Best weekend,

Maria

Hi Nigel & Jo, welcome to EOS where we all hope to help each other, no matter what the subject.

Are you also aware there's a forum (not EOS) for owners of Santa Ana del Monte ?

Hope Justin won't mind me posting it for you here.

http://santaanadelmonte.co.uk/yabb/YaBB.cgi

FAR I can not help feeling you are being a little bit over optimistic in your outlook .I hope I am wrong and you are right. To my knowledge  most properties on El Pinet which are completed are already sold and we have no  cast iron guarantee as yet that the unfinished properties will  ever be completed .I do not disagree with you in that if  ,,,,,, ? If,  this mess can be sorted out  that El Pinet is now,  and will become even more desirable however things are far from certain regards El Pinet's future  . There are also the allegations that SJ have raised mortgages on a lot of the properties sold and unsold. I don't think anyone who has or is in the process of purchasing at El Pinet is out of the woods yet, and neither are SJ. Proceed with caution! Yours JA

I agree JA that we are not out of the woods yet! but it remains the only glimmer of hope in my opinion

There are properties key in hand available, not many and there are also some near to completion available, again not many and there are around 200 still to be sold, not sure if these are started

Don't worry JA, i have known for about 3 years now that the worst could happen and i have always hoped for the best and prepared for the worst. If the worst happens then to be honest it won't affect me that much or destroy my life, i guess i am one of the lucky ones! But as Briando often quotes, "it aint over yet till the fat lady sings" and she aint even humming yet!

Today is the first day of the rest of our lives! Yippee

(Good old Northern Irish Spirit)

FAR

I agree with you FAR in that if the worst comes to the worst then I did not have all my eggs in one basket . If there were really Key ready at El Pinet thten I am sure we would have had some happy tales already from those who had switched and decided to complete all be it without COH etc but we have not heard one happy ending yet ,which is why I am saying to be cautious just now  .Cheers JA

Unfortunately there are a lot who cannot transfer to EP because of the extra cost. There is a big difference between the prices at EP and Jumilla

There are properties available for those who can afford to go there

FAR

Thanks for the link Morerosado, I have book marked that & te SARC website now, it seems I have joined the sad party rather late & I have a lot of reserach & reading up to do. 

I have started taking positive steps now & have got a new Solictor looking at some of my key documents - Contracts, BG stuff etc.

Thanks. 

Well things have taken a turn for the worse for us today.

Irwin Mitchell who have just had a look over my contracts and contary to my previous Solicitor's belief, I have been informed that I dont have a BG in my Contract even though it states there is one!

They have told me it's only a global guarantee that SJ\HDT had with the bank.

I feel like I've been mugged!!!

Is this what buying is Spain is like. Every one of my worst fears about buying property abroad (& particulary Spain)  has now been realised. How can anyone trust again after this.

I feel sick....

Are there any class actios going on out there I can join into to look at getting my money back. I just cant see these to***rs ever re-commnecing on site again.

Yours in disgust.

Hi Nigel & Jo, what a blow for you.

There's this petition you could join. www.spanishpropertyscandalpetition.co.uk 

If you look right through this very long thread I understand there's more, can't think as we aren't involved, thankfully.

(Having said that, we had our share of 'fun & games' with our newbuild).

I'm confused as I thought Ruth suggested that this petition was not relevant to those who don't have BG's but was aimed at those who do have them, but the banks are not honouring them, so which is correct?

Cheers.

Way to go Nigel.  Its our agent and the original lawyer we had that I could thump.

Keep positive and dont let it get to you too much.  There is still a way to go so all you lads out there with your shiny tool kits get them out cos I reckon you could do a lot better.

Hi ALL,

ADS is correct the petition is concerning the Spnish banks not paying out on BGs and finding ways to not pay out ( see the letter from a paper on SARC site). This is a worry that those with BGs could do without and quite rightly has caused a lot of anger. However, for those of us without a BG  we need to get the banks to refinance SADM, we have money to spend and they are desperate to make money in an uncertain world. So we really should be demanding that the banks in Spain provide the line of credit and get SADM built.

All the best to you all, what ever your preferd outcome for your self.

Ps I have been really busy at work and can only get on line occasionally at the momment but you are all in my thoughts.

me  I want my House

Tony R17 18

There seems to be some confusion here.  There are 2 Petitions.

The one started by Ruth is purely for those who have legally binding Bank Guarantees, but who find that the banks are refusing to honour them. It will be sent to the Governor of the Bank of Spain.  This petition can be signed at:

http://www.gopetition.com/petitions/spanishbankguarantees.html      I believe it will close at the end of January.

There is another Petition which aims to cover all problems with property abuses in Spain, and also welcomes supportive signatures, even if they have no property problems.  It will be going to Gordon Brown PM at No. 10, and also to the EU in Brussels.  Another couple of weeks (appx)  left to sign this one:

www.spanishpropertyscandalpetition.co.uk

Hope that clears up the confusion.  Thanks to all who have signed so far, and if you haven't - PLEASE DO SO. Thanks from Suzanne.