- This topic has 13 replies, 7 voices, and was last updated 15 years, 5 months ago by
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http://www.eyeonspain.com/forums/posts-long-7401.aspx
I cant believe that some people still don’t know they have lost there money 😕
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@GJ wrote:
http://www.eyeonspain.com/forums/posts-long-7401.aspx
I cant believe that some people still don’t know they have lost there money 😕
It is obvious that the buyer has some I.Q. problems. He does not understand that the only “law” that changed in Spain is that property price does not always go up.
What did he expect from ADH, to give him a profit during a loss?
It is a hard lesson to lose 170k Euros. -
GJ
It’s very sad. Their story is a very familiar one. It looks like they trusted in a legal contract and probably assumed that if something went wrong, there would be a legal system in place to recover their money, as there would more than likely be be in the UK. Because of the mis-guided belief in Spanish lawyers/law/justice, many from the UK are left very vunerable, and then told they were stupid to believe a lawyer, a contract, justice etc.
I’m not tarring all with the same brush, there are good lawyers, agents, developers in Spain, and it’s possible to buy without problems, but unlike the UK, being in the right stands for very little if you are conned. You really HAVE to know exactly who and what you are dealing with, and realise you are on your own, even with regards to legal matters, that should in a fair society offer you some protection?
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My point was he purchased these properties in August 05 and has only just realised he may have a problem.
At the very least I would have thought that the Irish media would have been highlighting some of the problems in Spain.
Only people that bought to flip before 2003 were able to make it work, and because it did, the madness of the next 3 years happened.
By the way the same thing happened in the UK, on a much smaller scale, with investors buying apartments off plan especially on waterfront and city centre locations.
I’m afraid those of us that lost out, me included, will just have to put it down to experience and move on.
If you have only lost money I would count your blessings many of us that lived in Spain during those years lost our homes and all of our money. -
GJ
the case you have highlighted looks to be a mix of bad judgement, poor regulation and bad luck. For those who have lost out through market forces, or listening to a dodgy agent, then I agree with you, however rotten it feels, what else can you do but put it down to experience?
As for those of us who suffered through corruption and poor justice, we need to fight on and help in any way we can to force change. Anything else is giving in to the crooks, and the powers that be who have allowed them to prosper, and many of us are not about to do that any time soon!
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Am I alone in having no sympathy whatsoever for this guy? Given that he purchased three units he was pretty obviously trying a bit of amateur property speculation.
He didn´t do his research properly. The cracks were already showing in 2005. He didn´t get an independent lawyer, etc. He has since been burnt.
Shoite happens and if you don´t do your homework before such a major investment you are more than likely to be a victim of it.
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@brianc_li wrote:
Am I alone in having no sympathy whatsoever for this guy? Given that he purchased three units he was pretty obviously trying a bit of amateur property speculation.
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The same sympathy as for the poor souls who bought pets.com stock in Spring 2000. At least they could never put the blame on others…
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@goodstich44 wrote:
GJ
It’s very sad. Their story is a very familiar one. It looks like they trusted in a legal contract and probably assumed that if something went wrong, there would be a legal system in place to recover their money, as there would more than likely be be in the UK. Because of the mis-guided belief in Spanish lawyers/law/justice, many from the UK are left very vunerable, and then told they were stupid to believe a lawyer, a contract, justice etc.
I’m not tarring all with the same brush, there are good lawyers, agents, developers in Spain, and it’s possible to buy without problems, but unlike the UK, being in the right stands for very little if you are conned. You really HAVE to know exactly who and what you are dealing with, and realise you are on your own, even with regards to legal matters, that should in a fair society offer you some protection?
What a laugh Goodstich – Fools and their money are easily parted. Read this Charlies post again. Greedy, silly and naive like hundreds of thousands in Bulgaria, Cape verde, North Brasil, Turkey etc – nothing to do with ADH, the lawyers or anyone else !!!!
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Goodstich44
I thought that you reminded me of my wife sitting all day all winging and talking rubbish.
Bless her soul. Thankfully it was painless.I made sure of that .
This is a Spanish Property Forum.Many would like to hear good bad/past and future.
Hell at least I gave her 20 years of her one sided arguments.
Please tell me your not married.ME
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