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buying off plan........oh dear

buying off plan........oh dear

Old Aug 7th 2008, 5:11 am
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Default buying off plan........oh dear

Have a read of today's telegraph.


http://www.telegraph.co.uk/global/ma...n-property.xml
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Old Aug 7th 2008, 5:52 am
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Default Re: buying off plan........oh dear

Originally Posted by poshnbucks
Well that could happen anywhere to be honest, and although I have sympathy for the subjects

(a) why didn't they get a bond / bank guarantee to cover such eventualities and
(b) why the hell did they pay £80 k as a deposit!!!! Mine was £7k!
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Old Aug 7th 2008, 6:59 am
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Default Re: buying off plan........oh dear

Before we came here to live, we went on one of those buying trips well I went on two, filled us with all the dream showing us where things were going to be ans how our life style was going to improve ...................... I had told them before we went I wanted a resale, we didnt want to wait for 18 months for a might be, but all we were shown were new builds off plan isolated with having to always use a car.
It took a great deal of No we dont want this, to get away with out having to buy. I have sympathy, but good god why do people leave there brains at the airport, There has always been bad press about buying in spain, or any other country. Cyprus , France , Croaitia, Bulgaria to name a few. Just watched a TV programme about selling / buying a house abroad they highlighted a place in Cyprus the presenter went to talk to a goverment minister and told him about bent solicitors, the goverment offical told him that it was the same in the UK, buying a house that is illegal and could not get the problem sorted, he told him straight it couldnt happen in the UK we had a law society.
What I really think is that we are spoiled in the UK we cant really be had NO TITLE deeds no land registry No legal house, but it seems that this can happen in other countrys.
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Old Aug 7th 2008, 9:56 am
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Default Re: buying off plan........oh dear

Those CGI models are very convincing these days. Now is most definitely NOT the time to buy off-plan. It's dodgy in the best of circumstances. DON'T BUY OFF-PLAN now. Could well be Ten years before you get to move in if you're lucky.

Just don't! No matter how good the promise. Don't do it.
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Old Aug 7th 2008, 10:11 am
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Default Re: buying off plan........oh dear

Originally Posted by TheLostPhotographer
Those CGI models are very convincing these days. Now is most definitely NOT the time to buy off-plan. It's dodgy in the best of circumstances. DON'T BUY OFF-PLAN now. Could well be Ten years before you get to move in if you're lucky.

Just don't! No matter how good the promise. Don't do it.
I think that's somewhat overstating the case
A. Buying off plan need not be dodgy with a contract, bond and abogado
B. How do you figure 10 years before you move in?
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Old Aug 7th 2008, 2:53 pm
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Default Re: buying off plan........oh dear

Originally Posted by Mitzyboy
Well that could happen anywhere to be honest, and although I have sympathy for the subjects

(a) why didn't they get a bond / bank guarantee to cover such eventualities and
(b) why the hell did they pay £80 k as a deposit!!!! Mine was £7k!
I thought you need to pay in stages even buying an off-plan. Is this 7K for the whole lot that you'd to pay before the house was completed?
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Old Aug 7th 2008, 7:31 pm
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Default Re: buying off plan........oh dear

Originally Posted by ForHotspot
I thought you need to pay in stages even buying an off-plan. Is this 7K for the whole lot that you'd to pay before the house was completed?
No, I paid in stages, but only when certain stages of the build had been reached. At every stage I had the option to pull out, and there were penalty clauses for late finish by the builder.

Deposit to secure the plot (which was deducted from the next payment)
Next payment when footings were in
Next payment at roof stage
Final payment at Notary

As far as I can see the subject handed over £80k before even a brick was laid
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Old Aug 7th 2008, 8:53 pm
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Default Re: buying off plan........oh dear

I know San Jose well and have been more than aware that they have been building without obtaining planning permission or rather building first and obtaining permission post event. Unfortunately, when the government was replaced by the current socialist one they decided that building regs and other rules were going to be enforced. To these ends they have been knocking down houses all over the place.

It is estimated that there is somewhere between 50 - 100,000 illegally built properties in Spain but as to whether or not the Zappatero government will knock them all down is anyones guess.

However, regardless of what San Jose did or did not do, a simple search would have revealed whether or not there was planning permission in place. This would have saved all the tears and more importantly, all the money. If a lawyer was appointed he should have checked for the legality of the property his client was going to buy. If he did not he should be sued.

San Jose have UK agents and if a UK agent referred to San Jose then they are first in the line for being sued.

There isn't much right with the Spanish property market. Put simply, much of it is dishonest and the legal system is about 5/8ths the square of sod all use when seeking redress of grievance.

It is possible to buy property in Spain without too much difficulty but it requires an apprenticeship having been served which ensures that those who have undergone it will never make the same mistakes again.

Sadly, the greatest mistake made by most Brits when buying property in Spain is to believe the law here will no doubt be the same or similar to that in the UK. No way San Jose. There is no law to protect you from much at all, including yourself. This is about as opposite to the "Nanny State" as you can get.

Perhaps the saddest thing of all when reading about the problems Brits have gotten themselves into with Spanish property is the fact that most of these problems could have been avoided.

When I first moved to Spain I was ripped off by everything which had a vowel in its description but as with most others, I soon learned.

A rule for Spain is believe no one - check everything.

Jonti
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Old Aug 7th 2008, 9:10 pm
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Default Re: buying off plan........oh dear

Originally Posted by Jonti
I know San Jose well and have been more than aware that they have been building without obtaining planning permission or rather building first and obtaining permission post event. Unfortunately, when the government was replaced by the current socialist one they decided that building regs and other rules were going to be enforced. To these ends they have been knocking down houses all over the place.

It is estimated that there is somewhere between 50 - 100,000 illegally built properties in Spain but as to whether or not the Zappatero government will knock them all down is anyones guess.

However, regardless of what San Jose did or did not do, a simple search would have revealed whether or not there was planning permission in place. This would have saved all the tears and more importantly, all the money. If a lawyer was appointed he should have checked for the legality of the property his client was going to buy. If he did not he should be sued.

San Jose have UK agents and if a UK agent referred to San Jose then they are first in the line for being sued.

There isn't much right with the Spanish property market. Put simply, much of it is dishonest and the legal system is about 5/8ths the square of sod all use when seeking redress of grievance.

It is possible to buy property in Spain without too much difficulty but it requires an apprenticeship having been served which ensures that those who have undergone it will never make the same mistakes again.

Sadly, the greatest mistake made by most Brits when buying property in Spain is to believe the law here will no doubt be the same or similar to that in the UK. No way San Jose. There is no law to protect you from much at all, including yourself. This is about as opposite to the "Nanny State" as you can get.

Perhaps the saddest thing of all when reading about the problems Brits have gotten themselves into with Spanish property is the fact that most of these problems could have been avoided.

When I first moved to Spain I was ripped off by everything which had a vowel in its description but as with most others, I soon learned.

A rule for Spain is believe no one - check everything.

Jonti
Welcome to the forum Jonti
Nice first post
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Old Aug 7th 2008, 10:05 pm
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Default Re: buying off plan........oh dear

Originally Posted by Mitzyboy
Welcome to the forum Jonti
Nice first post
Yeah. Pretty well says it all.
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Old Aug 7th 2008, 11:19 pm
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Default Re: buying off plan........oh dear

There was a program on ITV1 last week about buying offplan and it focussed around a certain agent on the Costa Del Sol that will remain nameless on here.

I think peopel who buy offplan really have to becareful. As the developers can say one thing and agents will say another. Then people change their name.
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Old Aug 8th 2008, 12:11 am
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Default Re: buying off plan........oh dear

I also understand there are several types of bankers guarantee offered with this kind of purchase ,some not worth the paper they are written on!!

Rgds


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Old Aug 8th 2008, 12:13 am
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Default Re: buying off plan........oh dear

Originally Posted by Rotor
I also understand there are several types of bankers guarantee offered with this kind of purchase ,some not worth the paper they are written on!!

Rgds


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Are you saying we can't trust the banks now?

Onlineamiga - Yes you're right people who buy off plan have to be careful. So do people who buy resale properties.
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Old Aug 8th 2008, 12:15 am
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Default Re: buying off plan........oh dear

Originally Posted by Mitzyboy
Are you saying we can't trust the banks now?

Onlineamiga - Yes you're right people who buy off plan have to be careful. So do people who buy resale properties.
You trust your bank now???
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Old Aug 8th 2008, 12:17 am
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Default Re: buying off plan........oh dear

Originally Posted by Rotor
You trust your bank now???
My Bank? Yes of course, they have done nothing to make me mistrust them
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