February 7, 2006 at 11:25 am #51548
We are coming out on an inspection trip later this month (feb) with Prestige Villas. (hope it is OK to mention the name – I’ll soon know if its not!).
Have read many tales of both woe and wow and we are desperate to avoid the former (and can’t afford a major cock-up)
I am sure that P.V. are a great company but I would appreciate the comments of anyone who has dealt with them. We are looking at properties on the the Costa Calida adjacent the Mar Menor. We have visited the area previously and are taken with it.
From reading your many comments there is a potential mine-field of legal difficulties. If we buy off plan we can expect a bomb-site but a mine-field as well would be too much.
A good independent solicitor is crucial but I’m sure that those of you who have experienced difficulties thought you had good representation. Does anyone have any recommendations?
We have many more questions but we have to start somewhere.
Thanks in anticipation
February 7, 2006 at 12:23 pm #60813
Whilst we would never consider an inspection trip( too much high pitched sales and pressure to put down a deposit) I would advise you to be very strong willed and not be pushed into signing for anything! Go home, think about it and do lots of research. The Off Plan property market, according to the forum, is both slow, not really to be looked at for short term investment and definitely not for the feint hearted.
I could definitely give you advice based on my experience if/when you come to pay a deposit and the contract pitfalls to watch out for!. 🙁
I wish you lots of luck and enjoy the trip.
February 7, 2006 at 12:59 pm #60814
Don’t buy off-plan, they will push you to do this (higher commission!). there are many resale bargains about. Read the threads on this forum and as Claire writes, think about it when you get home, no rush, its a buyers market. Remember with inspection trips they only show you what they want you to see.
February 7, 2006 at 2:25 pm #60816
hi claire what advice would you give on paying a deposite and on signing a contract thank you
February 7, 2006 at 2:55 pm #60818
I too am interested in buying off plan BUT my lawyer will not allow me to pay even a reservation fee unless he has the proof in his hands that the Building Licence has been granted and all the other necessary documentation is ok.
Makes a change from some of the other lawyers I have read about !
February 7, 2006 at 5:33 pm #60828
MUST BE IN THE SAME BOAT GUEST MY LAWER WOULD NOT SIGN A RESAVATION CONTRACT EITHER BUT I DID PAY HIM A RESAVATION FEE SO I COULD RESERVED A APARTMENT WITH THE AGENT, BUT HE SAID I COULD HAVE IT BACK WHEN EVER I WANTED,HE IS NOT LINKED TO THE AGENT , FUNNY THING IS I GOT A CALL FROM THE AGENT SAYING THEY WERE NOT KEEN ON HIM , I WONDER WHY 😆 😆 😆 😆
February 11, 2006 at 10:00 am #60923
Thanks all for your advice.
If you buy re-sale is it best to buy direct from a vendor (with the appropriate legal advice) or go through a ‘reputable’ agent.
There is probably more room for negotiation privately (and no commission) but is the potential legal minefield something to give you nightmares?
Where can I find a trustworthy lawyer should I need one?
February 11, 2006 at 10:36 am #60924
From our bad experience, I would never buy off plan . I would buy resale but IF possible not through an agent….at least not one of the big commercial agents. Don’t buy on rustic land unless you are absolutely positive all the legal documents are bona fide and in place.
You definitely need a good INDEPENDANT lawyer. Where to find a trustworthy lawyer? That’s the million dollar question that we all would like an answer to! 😉
February 19, 2006 at 11:23 am #61002
I suggest you read the useful information on this website under http://www.spanishpropertyinsight.com/spanish_property_lawyer_spain.htm
There is an English speaking Spanish solicitor in Aguilas not too far from Costa Calida recommended on this website called Gonzalo Ros (see Resources and Solutions). I have recently met him and was very happy with him. He charges a fixed fee based on a percentage of the property price. It has been rightly argued that a solicitor charging an hourly rate may work out cheaper but such a fee basis provides no certainty of the final cost. I suspect getting an honest and trustworthy lawyer will be the key consideration here and the fee basis is less important providing the
end cost is not excessive.
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