[Anonymous]

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The Company who mis-sold to me

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Estates of P. Banus used, and still uses lines like these so avoid their Patter, also used by some other agents too.

We will ‘Cherry Pick’ the best unit for you. (rubbish, they pick the best for themselves)

This deal is a ‘No Brainer’. (meaning, the opposite, steer well away)

You ‘Cannot Lose’. (yes you can and probably will)

Our Directors have all bought on this site. (either lies, or they literally have secured the best units)

The market is rising 25-40% per annum. ( Poppycock)

We will sell your units on prior to completion. ( more lies, they are not interested)

We have investors queuing up for this Development. (not now they haven’t)

The Building Licence will come through in a month or two. ( often more lies, can take a year or more, or never)

Because we listen, because we care! (Aftersales service, absolute rubbish)

We have won (and display) many awards from Bentley, Jaguar etc to impress purchasers. ( these can be purchased by anyone willing to pay the Promoters of the awards)

Basically if any or similar lines are used to persuade you to buy, then you know it’s too good to be true.

[Anonymous]

Hello again Paul

I was logging on to this site last week when I mistakenly keyed in the wrong URL only to come up with an estate agent’s site in Spain. Guess what – the market is buoyant and if we buy we can expect at least 20 to 30% return on our investment. Same old c–p I’m afraid, but to someone new looking to buy they are going to be fleeced. How do we stop them as it goes on year after year.

By the way, I still haven’t sold my apartment.

[Anonymous]

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Hi Patricia

Thanks for reply, sorry to hear about the apartment.

Apart from Spain’s Gov’t or regulatory bodies getting involved I’m afraid more purchasers are going to fall for the Agents’ lies, although I can think of a few people who wish they could ‘punch’ some of these liars on their Pinnochio noses.

I’ve listed quite a few Porky Pie sales lines that were given to me and others, but I feel there must be some more ‘crackers’ out there.

If anyone can better those I’ve listed from Awful Estates, please list them,
it should make good reading.

[Anonymous]

Hi Paul i guess you have had a bad deal i am nearing compleation my self in Fuerterventura. Had a lot of those my self. Once i had paid i have had only verbil feed back and that is only breif i asked for photos of the site only to be told the camera was broke, after that i have not bothered, i too have been told i will make a killing and that properties are all ready up for resale at a profit. just playing the waiting game. Cant even get a compleation date from my lawyer dispite telling me at first there would be no problem finding out. Ah well as i say we will see. Hope yours turns out ok

Regards
Paul 8)

[Anonymous]

Hi Smurf

Fortunately I eventually got out of my problem there reasonably ok, so basically I’m just trying to help others not fall into the same traps as I did, hoping more people become more aware of the pitfalls.

Regarding your purchase, would you get out of it if you could?

If so, I wonder if you could exercise a get out clause if you cannot get a completion date or alternatively get your lawyer to insert a penalty clause for delayed completion. Don’t forget, some lawyers appear to be working more for the Developer and Estate Agent than the client, there are too many kick-backs and incestuous relationships between many of them.

[Anonymous]

Paul

When I asked the question two years ago “what if the apartment doesn’t sell?” he replied –

“It just doesn’t happen”

Well, in December it’s about to happen, so beware sales lies, lies and more lies!

Pat

[Anonymous]

@Paul wrote:

Hi Smurf
Paul glad to hear you sorted yours out. i have contract which says the builder has to compleate in 24 mths of starting the building and has to pay 5% unless termination of works are due to non attributable cause to the promoter or act of god. i have asked my lawyer on many occasions to find out when building work started i know this can be worked out but she keeps putting me off and will not confirm dates. The answer to your question would i change my mind i think i would only because know one keeps you informed . It seems most people have the same problem no feed back from agents, lawyers builders and of course delays if only they gave you some kind of assurance things would be fine dont you think
Thanks for the advice

Regards Smurf
Fortunately I eventually got out of my problem there reasonably ok, so basically I’m just trying to help others not fall into the same traps as I did, hoping more people become more aware of the pitfalls.

Regarding your purchase, would you get out of it if you could?

If so, I wonder if you could exercise a get out clause if you cannot get a completion date or alternatively get your lawyer to insert a penalty clause for delayed completion. Don’t forget, some lawyers appear to be working more for the Developer and Estate Agent than the client, there are too many kick-backs and incestuous relationships between many of them.

[Anonymous]

Hi Smurf

Did you mean to post something on the end of my comments?

Paul

[Anonymous]

Hi yes if i can find out when the contract started it would give me some idea when i compleate. looking at the big picture most people will struggle to make a profit or rent out, with the amount of building work going on and in our case the lack of flights. Many things are promised like golf courses water parks more flights. hopfully that will come but like any investment time will tell i just hope mine is compleated and i get to spend time relaxing.I have read many horror stories and must say that there is a complex near mine that looks compleate but has stood empty for nearly a year i have heard many stories like built on wrong land rising damp owner bankrupt they are the things that make you worry Have you still got yours?

[Anonymous]

Hi Smurf

It sounds a bit worrying, I think if I was in your situation I’d be looking at ways maybe to get out of the contract especially if it is looking like really delayed. Wish you luck though.

I managed to get out of ours and am now looking to buy in Cyprus which feels better all round, and safer, but time will tell there too.

[Anonymous]

Maybe agents are at last cutting out the mis-selling sales patter other than the one in P. Banus, so that has to be a good thing.!

[Author]

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