Any views on Parador

Does anyone out there no of any positives or negatives on Parador.

we are trying to sell our appartment through them, they seem to be very good but there commision is 12%, very high, the problem is, we are paying a lot each month so the sooner we sell the better.

They do seem to have a large amount of brits going over

If anyone can recomend a really good agent in the Costa Blanca, Punta Prima area, would apreaciate any help

Sues

Hi Sues

only used local agents for buying not selling, so no experience of commission amounts charged, but I would ask local agents because Parador's is so high.  Probably because their main focus is selling off-plan and making lots of commission.  On costa blanca I know of Comaskey's in La Zenia and Richard Rooke in Mil Palmeras.  Good luck!

Jane

Hi jane

I wish we were making lots of money, unfortunatly not, loosing thousands,

We bought of plann that was the mistake, this is a re-sale

Patman, thanks for that, will look them up, & maybe the 1 before the 2 is a mistake

& it is 2% (I wish)

Hi Sues,

I used to work for Parador and I think they are a good company - they DO concentrate on new build it is true and their aftersales service is expensive and rubbish but I do think they could help sell you property. They bring in exclusively brits who don't know the area and prices - so might not realise the property is overpriced. The clients are expected to make a decision and place a deposit in a couple of days - happy days for a vendor in a crowded market. If your property is suitably different from the others on their books - and you can get viewings, it will sell.

If you are not getting viewings then take it away from Parador and put it with other agents who charge a lower (fairer) commission.

Thanks for making me chuckle, jamiealmeria. You write:

"I used to work for Parador and I think they are a good company -"

and then in the very next sentence, you write:

"They bring in exclusively Brits who don't know the area and prices - so might not realise the property is overpriced."

I am just speechless. If I really have to explain what is wrong with those statements, used to compliment each other................

I give up. Never mind.

Hi sues

I do know what you mean about losing money.  My son bought off-plan as an investment.  That was in 2004.  The development is almost 2 years behind schedule.  The company offered to end the contract and repay his 50% deposit as they were in breach of contract (offered to all buyers I think).  We accepted the offer, but the developer employed delaying tactics until the property was built - that took a year.  They then refused to comply with their own offer, and refused to let buyers sell the contracts on. The reasons given were that the houses were built and completion was close.  But of course it wasn't.  None of the infrastructure of roads, lighting, pavements, or even gardens were done. 

His circumstances have changed significantly since 2004. He advertised the house in the 'for sale' section of this web site ( great value and very good - thanks Justin) and had a good response.  His asking price will only get his money back.  After all fees, it reflects the price at which he originally bought it in 2004.  He has made no money, we are hoping he doesn't actually lose money but it might happen.  He has a buyer and fingers crossed, will have a contract with them to sell as soon as the property is completed.  Technically it will be a re-sale as we have to buy it fist then sell - how stupid is that - but great for the spanish tax man.  I wish you luck - try this site as well.  It does work.

best wishes,  Jane

Hi Jane

I hope your son manages to sell, wish him luck, I.m pretty sure when you buy off plan through the agents, the prise you pay is the prise it will be 2 /3 years down the line. I'm sure there mark up is based on property prise increases over the next year or so,

I have just been told by an agent over there, the apartments being built next door to ours, with only one bathroom, & probably smaller are being sold for 167.500e but wont be completed for 2 years. We are trying to sell ours for 165.000E, Its built & ready now so money would'nt be tyed up for the next 2/3 years, I'm sure, in two years the new prop' will still only be worth 167.500e,

I 'v known for some time we were pretty stupid to buy off plan, & like your son my circumstanies have changed, I also bought with someone who has been a complete nightmare from the begining, still, will do my best not to make the same mistake again

Good Luck

Sue ps Wish this had a spell check!

Beggars belief that a Martin Gow of Parador Property is on the Board of the so named AIPP which promotes amongst other things Quote: 'Honesty, Transparency and Integrity'.

This is the newish body entrusted to regulate overseas property matter, which, by the way has a member called Ocean Estates along with others who have mis-sold properties to unwary purchasers and rightly exposed in the press on numerous occasions.

Also on the Board of this mickey mouse AIPP are a number of estate agents, and a lawyer, I wouldn't trust with a very long bargepole.

How on earth can this regulatory body be independent and non biased if the rogues are members?

Google search AIPP reveals all.

Glad you agree rixxy, take a look at http://www.aipp.org.uk/ and read Paul Owen's interview (chief exec), makes sick reading talking of a strict code of conduct ( so he allows Ocean to become a member), some members paying in advance of their membership validification (money and greed again), membership subscription funded ( so anyone can join), that he was at the 'sharp end of sales background' (we all know abpout the SHARP END OF SALES TACTICS from dodgy agents).

All their Board is made up mainly of Estate Agents ( what a liberty), some with 'history'

Personally I think it's another 'get rich quick scam' !

Yup - some of the founder members were ocean and macanthony!!! They kept emailing us to join! - no way Pedro!

The other argument I had with them is that one of their positives was to counter any bad publicity - to act as a mouthpeice so if foe example there was a bad articel about one of the agents and or Spain, it would be countered by a balanced view from a smaller agent etc, that type of thing

So where were they when Marbella started getting its slagging a year ago??? No bloomin where.

Jobs and kudos for the boys only with the smaller people being sucked in to pay for it all!

Yes I got news on Parador.  My friend and I went over last year August.  We were shown San Cayetano and nothing else.  My friend had a higher budget than myself, but my budget was ignored completely.  We got caught up in in a whirlwind romance and loved the property shown to us on the day and I've a deposit for the both of us.  I was such a fool, I thought that by going over budget by over £20,000 wud be O.K.  

My friend originally assured me that if I buy anything on this visit, she will stop me but instead she got well carried away.  The property was 199,000 euros.  We were introduced to a finance adviser the next day and she said that the overall total of the property would be £136,000 and she even stated that the sales rep would have added the 7% tax.  Wrong !!!!! we soon discovered the grand total was £150,000.  Well was well over.  we were told by the  sales rep that he wanted us to meet the bank manager, when we got there, the bank assistant had all our details ready to open an account and he even mentioned that my mortgage application was approved.  Dammm !!! I didnt realise that I had made an application to start off with.  we then realise that the sales rep faxed our details over. 

initially I told the sales rep that between the 2 of us we had 20% each to place on the property but the paper work indicate that you need to have 30% deposit but he re-assured us that it was ok, not to worry he will negotiate on our behalf, hell no, by  October we had to produce 30% deposit and between us we had to decide which one of us was going to loose our deposit.  In the end we had to write to the MD Mr Hamilton and explained to him of the con and the stress this had caused us.  Whilst in Spain we were told that we might as well meet the solicitor, well we were introduce as clients and since we need a solicitor we went along with it and took their details.

People out there might think we are stupid and our brains was up our ass, but when you have this sales rep re-assuring us and making out he had our interest at heart we believed him.   Never ever again, will I use Parador again (nickname parasite).  They caused us sleepless nights and stress.  The biggest joke was, they thought they were going to get one sales out of me but they got 2 instead.  As for there after sales, well, it is a waste of money.  I am still waiting for my £89.00 that I was originally promised, once I've purchased I will get it back.  Like hell, we have so far paid our 30% due to the sale of my friends property recently (extension was given due to our complaints) and its suppose to complete in March 2008, Phase 5.  I am still waiting for the £89.00 to date.

Never believe certain sales rep within Parador or better still dont believe them.

Vi

Paul Owen of AIPP has just emailed Angie (of Spanish Property Onsight), I'll try and get his email to you in due course.

However he says 'he doesn't think he should judge members on bad Press stories about them' what a joke? Despite umpteen stories of mis-selling by Ocean Estates he thinks they are ok to be members.

What a farce, what a money making scam charging £1200 for membership to each shark who wants to join.