October 28, 2005 at 8:19 am #51325
In December 2003 we put down deposit on an off plan property in a small village inland from the coast on the Costa Blanca. I was completely naive in hindsight, though had prided myself on the research I had done for the previous 2 years to avoid the pitfalls!
The build started on time, our estate agents (German) were excellent at communicating progress (or otherwise) and all seemed well. Then the agent closed down their office and moved south, the skeleton of the build remained just that and communication from the agent ceased completely (and remains so).
The developers site contact person remained upbeat and was always cheerful when contacted, various estimated completion dates came and went and the emotional roller coaster picked up speed.
About this time I discovered this forum and after reading some of the shocking off-plan nightmares panicked! Through this forum I was able to make contact with other purchasers and we have kept in touch since.
I also found Juan Bertomeu (lawyer) recommended here and an absolute star!
We had been advised that there was a “problem” getting a water supply as the village pressure couldn’t sustain the new build. Solution proposed was huge water tanks in the basement parking area! Our lawyer met with the developer and found a much better solution, we now have water and NO tanks! (Thanks Juan)
Our final hurdle has been an electricity supply. Again the village supply is inadequate and Iberola have not helped at all so far.
Again a solution has been found and on last visit in September a small pylon was in place and we should have electricity in a couple of weeks.
I am posting this rather long message in the hope that it will reassure some that sometimes off-plan property does get completed.
The build quality is excellent and we are hopeful of taking possession soon….though I still can’t be sure EXACTLY how soon!
Would we buy off-plan again?….probably not. Do we feel lucky that we have got this far…I think so!
Have we been happy overall with the developer….yes, though very frustrated at times.
This forum has been a brilliant source of information and the small group that has formed during the build issues will no doubt keep in touch.
There is finally a light at the end of the tunnel and I am sure in years to come we will sit on our terrace and smile at the emotions we have felt. We bought in Spain to escape the stress of our lives in the UK. The stress over the past two years has been in bucketfuls as has the wine to drown our sorrows at times.
Good luck to all who take this rocky path and my heart goes out to those who are never going to see there dream property built. That remains an absolute scandal and terrible financial burden on hard working individuals through no fault of their own.
October 28, 2005 at 8:37 am #59402
Your post sounds optimistic…I really hope all turns out well for you. 🙂 As you say, it is very stressful buying off plan. We went that route, because at the time, we saw nothing we really felt had the “WOW” factor or the view we were looking for…until the fateful day we saw the Eralia development. Perhaps we should have looked for longer, but at the time this development met our requirements.
Like you our wine consumption has increased!!
Good luck. Let us know the final outcome.
October 28, 2005 at 9:18 am #59404
I am under no illusion that it is purely good luck that there is now a building to be seen! After all the “research” I did and reading “you and the law in Spain” ad nauseum I still got caught up in the moment as we were only in Spain for 3 days after seeing the property plan on the internet.
My biggest mistake was NOT getting the contract checked by a lawyer BEFORE signing and paying the holding deposit. I knew really I shouldn,t but it is a very small development and only 2 apartments were left. Also, I had no idea how to find a recommended lawyer in a short time frame and not knowing anyone living there.
Our contract is very standard and not particularly in our favour so all could so easily have ended in tears!
Will let you know when we do finally get the keys, no doubt more trauma will arise regarding shipping furniture, snagging lists etc but they are the bits I am really looking forward to as it means we have a home in Spain at last.
October 28, 2005 at 9:29 am #59406
I doubt you would have fared any better had you had a lawyer before you signed your contract…Look at the mess we ended up with, thanks to our NOW ex lawyers !! 🙁
The forum ‘Real Estate Topics, News & Discussion’ is closed to new topics and replies.