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I am worried about a couple of friends of mine. In January this year, they visited Terque, and put down 25% of the total cost of an apartment there.They were told that the apartment would be ready in about 18 months, although no end date was on the contract. They have just returned from a holiday there, and the company in question (Palmeria Properties) has told them that the builder has only just had the licence granted, and that the apartment will be ready now in 2007.
They don’t seem unduly worried, but I am. We are also buying a property in Spain, near Guardamar. We have a contract which gives an end date of 30 June 2005. I know that delays can happen, so I am keeping my fingers crossed for our purchase, but I can’t help worrying about my friends.
Does anyone know about these apartments please?
Thank you
Spanishgirl
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Hi Spanishgirl, I don’t know this particular complex but I do know Palmera properies, my sister in law bought through them in Roquetas (almeria) and their contract didn’t have a date on either, it was a very difficult purchase and had lots of problems due to the builder, who is a nightmare , don’t know if I can name them so I’ll just say A*f*s, they did eventually get there apartment , albeit 2 years late and many months of sleepless nights later. Please don’t rely on this agent to be helpful, when problems developed for my sister in law , the agent washed his hands of everything and walked away.
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Hi ,
Your friends really need to keep on top of things , at least the licence has been issued which is a good thing so things are legal thats one good thing at least..I know Almeria region but can’t comment on the site they are buying sorry. We were given 18 months for our build and 2 1/2 years on no house. It is worrying, hope all goes well for them and yourself. -
Hi Axwhale and Guest
Thanks for your replies. I hope things work out for them. I’ve read some of the messageboards, and frankly they have terrified me! I hope we are doing the right thing.
We have worked hard all our life, and hope to spend our retirement in Spain in our own property. I just hope it comes to fruition! Surely, some people buy without too much trouble?
We went with one of the big UK Companies who advertise on UK TV. P****** . They seem to be ok, but after reading some messages, it has made me want to question everything. Hope I’m not getting neurotic 😕
Anyway, if anyone else has any comments, please keep them coming.
Regards.
Spanishgirl
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We went with one of the big UK Companies who advertise on UK TV. P******
The UK agents are interested in one thing and one thing only – selling you off-plan!!! – its madness to go along with this, there are idenitcal properties on the same site for sale as resales – these are often cheaper!!! and they are finished!! you can move into them and all of the problems with licenses etc would have been sorted out by the original purchaser!!!
If your agent refuses to show them to you – all you have to do if to ring the number on the SE VENDE signs or speak to a local small spanish agent.
who has been cut out of the off-plan feeding frenzy which generally only rips off UK, Irish or english speaking people. You dont see any spanish buying off plan do you? ,may be thats a clue to whats going in the market?If greed if your only reason for continuing to buy SPanish off-plan, please dont expect any symphathy when if all goes wrong. There are genuine frauds exposed on this board and some of the stories are very sad but they all come down to the same thing. YOU CANNOT ~TRUS~T “professionals” on the Spanish Coastal areas.
You can completely circumvent most of the problems by buying resales on the coast, and still get your “dream in the sun”. Resale in the campo is another story!!
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PostPosted: Wed Oct 19, 2005 1:32 pm Post subject:
There is a spanish website devoted to complaints about a certain developer that indicates some spanish DO buy off-plawhats it called, i would be very interested to see if they get the same xxxx
treatment with their complaints about the developers 🙁 -
Hi Guest
I don’t know what you mean about greed. We are buying our property to retire to in Spain. We bought it because we liked the area and the property. We believed what the company told us. The company in question was recommended by our UK Estate Agents who valued our property in the UK. The company had had all kinds of awards given to it by differing UK bodies.
Greed doesn’t come into it. We don’t want a quick return on our money. Indeed, hopefully it will be a long time before our children benefit from its proceeds!
Hindsight is a beautiful thing. If only we all had it.
Regards.
Spanishgirl
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Hi All
I am buying on the Azahar site at Terque through Palmera , and as you say the licences are now issued ( I do have a copy if anyone interested )
I have also been told that it will be 2007 before finished but make that 2008 and it may be close?
Cant say i have had any trouble as yet with Palmera , and always get a response from Jason at their office in Benelamadna.
On the other hand i also am involved with another build by a different builder and different agent . Would take me all night to tell my story so far on that one Still not completed after 2.5 years . and guess what the licence for my phase was only issued a couple of months ago. Then the builder decided not to build this last phase after all , and offered me another appt at a good price which i accepted. Then guess what , he then said he was building this last phase in a different position ?
Seems he will now sell this phase at todays prices and make a killing.
Every purchase in Spain i susspect is a bit of a risk , but like me in the end you just have to accept it and hope for the best
Just hoping at least one of the developments comes good before i meet my maker .Mike
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PostPosted: Wed Oct 19, 2005 4:45 pm Post subject: terque
The site with complaints re a certain developer isestrecho.indymedia.org/malaga/newswire/display_any/4894/index.php
ah ha that developer! friend of Julio Iglesis !
Strangely The Directors move freely in spanish society attends charity functions – mainly at the Gualdapin of course!!
I would have thought the weight of Denounicas would have shamed them into keeping out of the limelight.
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sorry, previously posted as guest with the website info.
Guest, I was also involved in the Roquetas fiasco, and would probably know your sister in law.
There was a programme on BBC 1 not long ago that featured this company re. a development on the costa del sol where people had paid deposit four years ago with no likelihood of this ever being built.
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Except as the lawyer on the forum says during 2000/1 I cannot see anything to be gained by buying off-plan. If property prices are going up quickly then so are resales. If you buy a resale instead of waiting 2 years or more you have the use of the property or rental income and the value is still increasing and you are not taking chances with a developer.
A friend came out here to Malaga with the money to buy a modest apartment and was talked into buying off-plan instead. Because of the 2 year wait (which turned out to be 3!) they went over their budget. So, when they could have been enjoying their purchase they had to wait 3 years. End result they have an apartment in a block where nearly every one is on sale and a view of a big pylon from the terrace. With resales what you see is what you get.
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