COSTA ESURI - AYAMONTE
Sep 22nd 2008, 12:50 am
#3991
Lost in BE Cyberspace
Joined: Jun 2005
Location: Puente Esuri
Posts: 6,907
Re: COSTA ESURI - AYAMONTE
Hello Mr Loco,
Thanks you for the very helpfull info. I only wish our Lawyers' were as clued up as you seem to be!
We completed on our plot in July and thought all was ok. However there now seems to be a problem in registering our purchase; Is this what you were referring to in point 4? I thought that the Deeds went into our name at completion. That is the impression the Notary gave or does this only happen at registration.
If we can't register I would presume we become creditors but it is a language(my fault) and system that I don't understand.
Could you advise as to the top ten lawyers to which you refer?
Don't alot of us now wish we had never stumbled upon esuri? Hopefully it will turn out ok.
Many thanks for your help Loco
Thanks you for the very helpfull info. I only wish our Lawyers' were as clued up as you seem to be!
We completed on our plot in July and thought all was ok. However there now seems to be a problem in registering our purchase; Is this what you were referring to in point 4? I thought that the Deeds went into our name at completion. That is the impression the Notary gave or does this only happen at registration.
If we can't register I would presume we become creditors but it is a language(my fault) and system that I don't understand.
Could you advise as to the top ten lawyers to which you refer?
Don't alot of us now wish we had never stumbled upon esuri? Hopefully it will turn out ok.
Many thanks for your help Loco
I am not a lawyer but I have gone through exactly the same process as you except that I chose to DIY at the notary and was not using an Abogado. For this reason I researched everything at least twice and then again. There is a past history in Spain of slips between signing at the notary and the land registry so I was most careful on this point.
The Notary is online to the Land Registry and should have checked immediately before the signing took place what charges if any were on your property. If like ours there was a developers mortgage on the plot this has to be discharged before signing is allowed unless you are subrogating the mortgage.
We used the Notary in Punta Umbria and he had carried out this check for us and since we did not require a mortgage the plot was clear of charges. The Notary then left the room and registered our interest online or by Fax. This gives protection to your purchase for a short period to enable him to send in the complete documentation. The land registry then register your ownership of the plot with any mortgage you may have taken if one was required.
The Land Registry seem to be overworked so it took from early Feb 2007 until May for the final documentation to be returned to the Notary. A three month interval is not unusual. We collected all of the paperwork on our trip out to Ayamonte in May and even got a refund of €48 from the Notary of his costs for the work. I am sure that the Notary will have done his work the delay may be a rush at the land registry or an Abogado who is in no hurry to collect the paperwork on your behalf.
As a check you can get a Nota Simple, costs about €12 from the Land Registry at the back of the Town Hall and that will show who owns the plot. You can do this online and again I have done it cost about €4 but you need some basic information about your plot which I got from Paula at the shed.
Regards,
John.
Sep 22nd 2008, 1:55 am
#3992
Forum Regular
Joined: Mar 2005
Posts: 184
Re: COSTA ESURI - AYAMONTE
[QUOTE=Loco;6806863].
As I am neither qualified to offer advice in Spain .....
1. If you are thinking of buying on CE DON'T. Major Investment Banks were selling off MF stock at a discount of just less than 50% well before MF filed for Creditor Protection. Given the "BOMBS", the landbank value collapse, the failure of MF to now file on time due to problems confirming the past balance sheet valuations and that plots are now available for 160K EX IVA and yet are still not selling it is a no brainier that if CE is your Dream you will get your Dream for far less if you wait a while.
Make sure your claim is in!
Loco
I think taking advice from someone called Loco would be - errrrrr - crazy to say the least. (I took Loco's advice M'Lud ..as well as Donald Duck and Goofy on that doobery wotsit site - I have never met him or the others yada yada)
Presumably you are also not qualified to offer advice in the Uk either. Seriously - you need to be careful how you phrase your 'advice'. Are you guaranteeing any of your advice...thought not.
As I am neither qualified to offer advice in Spain .....
1. If you are thinking of buying on CE DON'T. Major Investment Banks were selling off MF stock at a discount of just less than 50% well before MF filed for Creditor Protection. Given the "BOMBS", the landbank value collapse, the failure of MF to now file on time due to problems confirming the past balance sheet valuations and that plots are now available for 160K EX IVA and yet are still not selling it is a no brainier that if CE is your Dream you will get your Dream for far less if you wait a while.
Make sure your claim is in!
Loco
I think taking advice from someone called Loco would be - errrrrr - crazy to say the least. (I took Loco's advice M'Lud ..as well as Donald Duck and Goofy on that doobery wotsit site - I have never met him or the others yada yada)
Presumably you are also not qualified to offer advice in the Uk either. Seriously - you need to be careful how you phrase your 'advice'. Are you guaranteeing any of your advice...thought not.
Sep 22nd 2008, 2:11 am
#3993
RETIRED ;-))
Joined: Jul 2003
Location: Benalmadena Pueblo,Spain
Posts: 20,156
Re: COSTA ESURI - AYAMONTE
As I am neither qualified to offer advice in Spain .....
1. If you are thinking of buying on CE DON'T. Major Investment Banks were selling off MF stock at a discount of just less than 50% well before MF filed for Creditor Protection. Given the "BOMBS", the landbank value collapse, the failure of MF to now file on time due to problems confirming the past balance sheet valuations and that plots are now available for 160K EX IVA and yet are still not selling it is a no brainier that if CE is your Dream you will get your Dream for far less if you wait a while.
Make sure your claim is in!
Loco
I think taking advice from someone called Loco would be - errrrrr - crazy to say the least. (I took Loco's advice M'Lud ..as well as Donald Duck and Goofy on that doobery wotsit site - I have never met him or the others yada yada)
Presumably you are also not qualified to offer advice in the Uk either. Seriously - you need to be careful how you phrase your 'advice'. Are you guaranteeing any of your advice...thought not.
Even if a solicitor was advising on a forum I would still be dubious until I had checked further and I am sure nobody would really take any info on a forum as kosher without treble checking.
Sep 22nd 2008, 3:01 am
#3994
Forum Regular
Joined: Mar 2005
Posts: 184
Re: COSTA ESURI - AYAMONTE
If you doubt his advice, then why don`t you PM him for a copy of the laws involved that he is offering, read them yourself and then make your own decision.
Even if a solicitor was advising on a forum I would still be dubious until I had checked further and I am sure nobody would really take any info on a forum as kosher without treble checking.
Even if a solicitor was advising on a forum I would still be dubious until I had checked further and I am sure nobody would really take any info on a forum as kosher without treble checking.
Sep 22nd 2008, 3:19 am
#3995
Forum Regular
Joined: Nov 2004
Posts: 34
Re: COSTA ESURI - AYAMONTE
Use quality information and advise on this forum carefully and with caution.
Sep 22nd 2008, 5:29 am
#3996
Banned
Joined: Mar 2007
Location: inaskip
Posts: 1,380
Re: COSTA ESURI - AYAMONTE
How do you tell the difference between quality information and advise when they are both given by unqualified members of an internet forum-Seek your own qualified legal advise and act upon it.
Use quality information and advise on this forum carefully and with caution.
Use quality information and advise on this forum carefully and with caution.
Sep 22nd 2008, 6:23 am
#3997
RETIRED ;-))
Joined: Jul 2003
Location: Benalmadena Pueblo,Spain
Posts: 20,156
Sep 22nd 2008, 6:31 am
#3998
Forum Regular
Joined: Nov 2004
Posts: 34
Re: COSTA ESURI - AYAMONTE
I agree,All i'm saying is don't take advice on this forum as fact,absorb it,then take your own counsel and act as advised by qualified folk.
Sep 22nd 2008, 6:51 am
#3999
BE Enthusiast
Joined: Aug 2005
Location: spain
Posts: 711
Re: COSTA ESURI - AYAMONTE
Whilst well meaning there is some very misguided advice on the basics that are being posted here that needs to be corrected as if others took it could cost them between 100's of Euros and in excess of 100,000 Euros within the next 9 days.
As I am neither qualified to offer advice in Spain, potential COI's could come back to haunt me and my Spanish amounts to being able to order "One Wine One Beer" make whatever you want from the following:
1. If you are thinking of buying on CE DON'T. Major Investment Banks were selling off MF stock at a discount of just less than 50% well before MF filed for Creditor Protection. Given the "BOMBS", the landbank value collapse, the failure of MF to now file on time due to problems confirming the past balance sheet valuations and that plots are now available for 160K EX IVA and yet are still not selling it is a no brainier that if CE is your Dream you will get your Dream for far less if you wait a while.
2. If you have contracted but not completed and MF are not in material breach complete unless you think to won't be able to finance the deal for a least 2 years in which case seek urgent legal advice from cross border firms that have legal and accounting specialists available .
3. If you have contracted but not completed/executed and consider MF to be in material breach instruct a QUALITY Spanish Lawyer specialising in RE or Bankruptcy to advise you and urgently file a claim.
4. If "somehow", a phrase the Spanish well understand, you have completed and paid but the Deeds are not in your name instruct one of the top ten firms in Spain first thing in the morning as you stand to lose it all if your claim is not in on time.
5. If you have completed and are awaiting minor issues to be addressed that amount to around less than say 3K put in a claim but don't instruct a Lawyer at this stage as at best it looks like you will never get more than around 54% of the amount of your claim. All you have to do at this stage is send the Administrators a letter that gets to them on time making a claim and sending any supporting documentation you have. The amount claimed can be estimated, ( I would suggest in Spanish and by Courier or RM signed for).
6. If you have found major issues instruct a QUALITY Spanish Lawyer specialising in RE or Bankruptcy to advise you and urgently so a claim can be filed in time.
7. Ignore the advice that you can claim only if you have a contract, judgement's or AO. This is Total NONSENSE. It may not matter much if the calm is for a few K but say if the CEO of a Hedge Fund had fell over a paving slab back in April on CE and died? Claim and do it now. DIY if small.
My claim is on track to recompense me for the pain, medical costs, loss of earnings, profit, extreme trauma and irreparable psychological damage caused by the blatant and criminal negligence of MF back in April when I was injured because they left a major hazard unmarked. Must get off as I am advised my claim should be redrafted and increased by 20 to 30 times using the math of derivatives.
Make sure your claim is in!
Loco
PM me if you want a copy of the Laws involved.
As I am neither qualified to offer advice in Spain, potential COI's could come back to haunt me and my Spanish amounts to being able to order "One Wine One Beer" make whatever you want from the following:
1. If you are thinking of buying on CE DON'T. Major Investment Banks were selling off MF stock at a discount of just less than 50% well before MF filed for Creditor Protection. Given the "BOMBS", the landbank value collapse, the failure of MF to now file on time due to problems confirming the past balance sheet valuations and that plots are now available for 160K EX IVA and yet are still not selling it is a no brainier that if CE is your Dream you will get your Dream for far less if you wait a while.
2. If you have contracted but not completed and MF are not in material breach complete unless you think to won't be able to finance the deal for a least 2 years in which case seek urgent legal advice from cross border firms that have legal and accounting specialists available .
3. If you have contracted but not completed/executed and consider MF to be in material breach instruct a QUALITY Spanish Lawyer specialising in RE or Bankruptcy to advise you and urgently file a claim.
4. If "somehow", a phrase the Spanish well understand, you have completed and paid but the Deeds are not in your name instruct one of the top ten firms in Spain first thing in the morning as you stand to lose it all if your claim is not in on time.
5. If you have completed and are awaiting minor issues to be addressed that amount to around less than say 3K put in a claim but don't instruct a Lawyer at this stage as at best it looks like you will never get more than around 54% of the amount of your claim. All you have to do at this stage is send the Administrators a letter that gets to them on time making a claim and sending any supporting documentation you have. The amount claimed can be estimated, ( I would suggest in Spanish and by Courier or RM signed for).
6. If you have found major issues instruct a QUALITY Spanish Lawyer specialising in RE or Bankruptcy to advise you and urgently so a claim can be filed in time.
7. Ignore the advice that you can claim only if you have a contract, judgement's or AO. This is Total NONSENSE. It may not matter much if the calm is for a few K but say if the CEO of a Hedge Fund had fell over a paving slab back in April on CE and died? Claim and do it now. DIY if small.
My claim is on track to recompense me for the pain, medical costs, loss of earnings, profit, extreme trauma and irreparable psychological damage caused by the blatant and criminal negligence of MF back in April when I was injured because they left a major hazard unmarked. Must get off as I am advised my claim should be redrafted and increased by 20 to 30 times using the math of derivatives.
Make sure your claim is in!
Loco
PM me if you want a copy of the Laws involved.
Actually, i think this is a good moment to buy, not only in CE but in anywhere in Spain (Galicia, Extremadura, Madrid....). It's not a good moment for selling but a good one for buying. Anyway, if i think about buying something, i will ask you
Sep 22nd 2008, 7:20 am
#4000
Forum Regular
Joined: Mar 2005
Posts: 184
Re: COSTA ESURI - AYAMONTE
How do you tell the difference between quality information and advise when they are both given by unqualified members of an internet forum-Seek your own qualified legal advice and act upon it.
Use quality information and advice on this forum carefully and with caution.
Use quality information and advice on this forum carefully and with caution.
As for not buying - given that to not buy could/would in most circumstances result in breach of contract and loss of deposit, the price to buy in the future would have to be less than the remainder of the deposit to be paid to secure the property. Its an easy calculation. To me its beneficial to complete on the plot. If you regard the deposit as a sunk cost (non-recoverable - in the breach situation above aka if I walked away from the deal) I would effectively get a plot for the price of the remainder of the deposit. Market value is above the remainder of deposit price therefore the decision is to buy. If this is too difficult to understand get an accountant!
Last edited by GerryW; Sep 22nd 2008 at 7:27 am.
Sep 22nd 2008, 6:33 pm
#4001
Getting younger every day
Joined: Mar 2008
Posts: 211
Are their any good things to say about Costa Esuri
Reading all the threads, it does not sound promising over there.
Surely, someone should put a good word in.
Surely, someone should put a good word in.
Sep 22nd 2008, 9:08 pm
#4002
Banned
Joined: Mar 2007
Location: inaskip
Posts: 1,380
Re: Are their any good things to say about Costa Esuri
It will be ok when they sort a few problems out.the main problems were caused by the global credit crunch and one of the main builders going bust.but the actul place its self has got a lot of good things going for it.I would say more than most developments in other areas.when it all comes together.Its a good location.and its not a concrete jungle like a lot of places in spain.thet have got the balance just right.its on the border to the algarve and a lot of places like seville .huelva. gib. malaga. are in a reasonable drive time.even madrid via the high speed train from seville.its 35 mins from the airport in faro and 1hr 30 from the airport in seville.its a nice place
Sep 22nd 2008, 10:14 pm
#4003
Forum Regular
Joined: Mar 2005
Posts: 184
Re: COSTA ESURI - AYAMONTE
Note: My UK solicitor tells me that completions will continue for the next two month as far as he is aware. This tallies with information from another source. You might want to check with your solicitor to confirm this information. This is separate to the 'September 30th - register your credit scenario'.
In addition my solicitor in Spain armed with power of attourney etc is having a tough time trying to get money out of my spanish bank account on my behalf in order to complete
. So I might have to take a trip at short notice to resolve it. If it is not resolved then I will name the Bank concerned so you can ensure you transfer to another Spanish bank - if you see fit - that will allow your solicitor to do the necessary in the timescales!
In addition my solicitor in Spain armed with power of attourney etc is having a tough time trying to get money out of my spanish bank account on my behalf in order to complete
. So I might have to take a trip at short notice to resolve it. If it is not resolved then I will name the Bank concerned so you can ensure you transfer to another Spanish bank - if you see fit - that will allow your solicitor to do the necessary in the timescales!
Sep 22nd 2008, 11:43 pm
#4004
Lost in BE Cyberspace
Joined: Jun 2005
Location: Puente Esuri
Posts: 6,907
Re: COSTA ESURI - AYAMONTE
Note: My UK solicitor tells me that completions will continue for the next two month as far as he is aware. This tallies with information from another source. You might want to check with your solicitor to confirm this information. This is separate to the 'September 30th - register your credit scenario'.
In addition my solicitor in Spain armed with power of attourney etc is having a tough time trying to get money out of my spanish bank account on my behalf in order to complete. So I might have to take a trip at short notice to resolve it. If it is not resolved then I will name the Bank concerned so you can ensure you transfer to another Spanish bank - if you see fit - that will allow your solicitor to do the necessary in the timescales!
In addition my solicitor in Spain armed with power of attourney etc is having a tough time trying to get money out of my spanish bank account on my behalf in order to complete
. So I might have to take a trip at short notice to resolve it. If it is not resolved then I will name the Bank concerned so you can ensure you transfer to another Spanish bank - if you see fit - that will allow your solicitor to do the necessary in the timescales!There has been a lot made on various threads of the Spanish National Police freezing expat bank accounts especially in the Costa Blanca. It appears to be something to do with non-resident status being registered with the Tax Authorities. This has to be done every 2 years. My bank have been doing this for me since I opened the account at the beginning of 2004. The cost has soared this time it was €10 first time and last month it cost €35 in 3 separate charges. I think it is fallout from the dreaded credit crunch and the Hacienda trying to bolster falling tax revenues by trying to catch up with expats flying below the radar with rentals and such.
As ever the innocent caught up in the sweep.
Regards,
John.
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Sep 23rd 2008, 3:13 am
#4005
Forum Regular
Joined: Mar 2005
Posts: 184
Re: COSTA ESURI - AYAMONTE
Hi Gerry,
There has been a lot made on various threads of the Spanish National Police freezing expat bank accounts especially in the Costa Blanca. It appears to be something to do with non-resident status being registered with the Tax Authorities. This has to be done every 2 years. My bank have been doing this for me since I opened the account at the beginning of 2004. The cost has soared this time it was €10 first time and last month it cost €35 in 3 separate charges. I think it is fallout from the dreaded credit crunch and the Hacienda trying to bolster falling tax revenues by trying to catch up with expats flying below the radar with rentals and such.
As ever the innocent caught up in the sweep.
Regards,
John.
</IMG>
There has been a lot made on various threads of the Spanish National Police freezing expat bank accounts especially in the Costa Blanca. It appears to be something to do with non-resident status being registered with the Tax Authorities. This has to be done every 2 years. My bank have been doing this for me since I opened the account at the beginning of 2004. The cost has soared this time it was €10 first time and last month it cost €35 in 3 separate charges. I think it is fallout from the dreaded credit crunch and the Hacienda trying to bolster falling tax revenues by trying to catch up with expats flying below the radar with rentals and such.
As ever the innocent caught up in the sweep.
Regards,
John.
</IMG>
