spanish property developers

griz616 · #1 (**permalink**) 7th January 2009, 04:44 PM

A friend of mine went to spain to buy a holiday home nr Torrevieja, a place called
villa martin. the property was chosen after been shown aroond several new properties, deposit paid, and everything to be completed within 2 weeks, it has now dragged on for about six weeks. every contract that has been sent to him have had different figures on them, & despite emails phone calls etc. he seems to be getting nowhere. I can't understand why, with the developer having so many new properties still for sale, and some previous puchasers now also reselling, at a loss that they don't want to get their act together and complete.
Anyone with any ideas? griz

jojo · #2 (**permalink**) 7th January 2009, 04:49 PM

Quote:

Originally Posted by griz616

A friend of mine went to spain to buy a holiday home nr Torrevieja, a place called
villa martin. the property was chosen after been shown aroond several new properties, deposit paid, and everything to be completed within 2 weeks, it has now dragged on for about six weeks. every contract that has been sent to him have had different figures on them, & despite emails phone calls etc. he seems to be getting nowhere. I can't understand why, with the developer having so many new properties still for sale, and some previous puchasers now also reselling, at a loss that they don't want to get their act together and complete.
Anyone with any ideas? griz

Have they gone bust??? I have a friend who's gota duplex in villa martin. He's been trying to sell it for two years and has dropped the price now to way under what he paid for it - he did manage to rent it over the summer. But apparently that area is on the decline????? Dunno how true this is tho??

griz616 · #3 (**permalink**) 7th January 2009, 05:02 PM

Quote:

Originally Posted by jojo

Have they gone bust??? I have a friend who's gota duplex in villa martin. He's been trying to sell it for two years and has dropped the price now to way under what he paid for it - he did manage to rent it over the summer. But apparently that area is on the decline????? Dunno how true this is tho??

I have seen some properties there going for a loss, so you may be right anyway thanks for that I will pass it on to him
griz

chris(madrid) · #4 (**permalink**) 8th January 2009, 07:01 AM

If they're selling at a loss - I'd make some very cautious enquiries at the town hall. There was a similar thing on teh TV where the developer had "forgotten" to pay all the dues to the town hall - and folk were having all sorts of issues getting water/gas etc.

SunnySpain · #5 (**permalink**) 8th January 2009, 01:32 PM

Quote:

Originally Posted by jojo

Have they gone bust??? I have a friend who's gota duplex in villa martin. He's been trying to sell it for two years and has dropped the price now to way under what he paid for it - he did manage to rent it over the summer. But apparently that area is on the decline????? Dunno how true this is tho??

My sources tell me the very same about Villamartin.

Could be that your friend just chose the wrong area, shame that, but thats life.

griz616 · #6 (**permalink**) 8th January 2009, 02:47 PM

Quote:

Originally Posted by SunnySpain

My sources tell me the very same about Villamartin.

Could be that your friend just chose the wrong area, shame that, but thats life.

is there any way to chec out the viability of the company? griz

ibz1492 · #7 (**permalink**) 15th March 2009, 05:03 PM

It sounds like your friend, as most foolish people here, does not have a good Spanish real estate attorney!!! And NOT someone who makes you think he or she is an attorney. They use different names sometimes but get a true attorney who practices in real estate and that is only way you will ever get this resolved. And even then it isn't fast nor easy. I have bought here several times and it gets easier but not easy, even with best attorney around!!!!!!

villa martin. the property was chosen after been shown aroond several new properties, deposit paid, and everything to be completed within 2 weeks, it has now dragged on for about six weeks. every contract that has been sent to him have had different figures on them, & despite emails phone calls etc. he seems to be getting nowhere. I can't understand why, with the developer having so many new properties still for sale, and some previous puchasers now also reselling, at a loss that they don't want to get their act together and complete.
Anyone with any ideas? griz[/QUOTE]