COSTA ESURI - AYAMONTE
May 7th 2009 | 7:32 pm
#5701
BE Positive
Joined: Sep 2005
Posts: 3,984
Re: COSTA ESURI - AYAMONTE
Emailling from the Algarve. Superb weather. No real new news from our solicitor. We have not been accepted as creditors which he seems to imply is good. i.e. we have a contract with them which he says they have breached - although I have no evidence how the case is being developed to prove this. However, they have to do something with us if they eventually want to sell the apartment - and the banks are holding 80%/70% mortgages on it. Could they sue us to complete? However the solicitor seems to think it will take time and so I have to appreciate his honesty on this. I am just worried they will at some stage hold us to the contract - apparently that is what would happen in Portugal. It is still difficult to get any clarity about this. We are worried about following up other possibilities (resales) without real clarity about this although we have seen a very nice resale on Rago 2 at a reasonable price with great views. Still rather more than we had left to pay on our prevvious puchase and all the others we saw at our price were not very good. However, we have decided we cannot do anything until our position is clear.
Our solicitor made a suggestion. On the face of it it seems a good idea but it needs some thought. The suggestion is to swop the apartment for a plot- Fadesa had sold all the plots but loads have come back due to speculators who bought loads but could not complete. As the plots do not hold mortgages on them Fadesa are willing to swop. It releases a property and then allows the purchaser to sell the plot. I checked with one of the agents and they have sold plots - lower than original price but I can take a cut due to the euro difference from when I paid the deposits. What we would need to do is share a plot with someone else - i.e. enter into an agreement with someone else who has paid a deposit so that we don't have to pay out anything more - we would need to hope that our joint spend so far is equal to a plot cost plus IVA - I hear they will take a 15% reduction - complete on it and then try and sell it - coming down by 30% will still result in breakeven and would be quicker than waiting to see if we get anything back from this fiasco. What possible issues could there be other than not managing to sell the plot? I just wonder whether it is worth waiting but the solicitor reckons it will take at least a year and a half.
Anyway sun is shining here and it is lovely. Has been a strange sort of holiday trying to sort things out, look at property to gauge how things are going and to try and have a bit of a holiday. Frankly we have had enough so we are doing no more this holiday. What do people think about the plot idea? Global minds should be able to see the hitches!
Carol
Our solicitor made a suggestion. On the face of it it seems a good idea but it needs some thought. The suggestion is to swop the apartment for a plot- Fadesa had sold all the plots but loads have come back due to speculators who bought loads but could not complete. As the plots do not hold mortgages on them Fadesa are willing to swop. It releases a property and then allows the purchaser to sell the plot. I checked with one of the agents and they have sold plots - lower than original price but I can take a cut due to the euro difference from when I paid the deposits. What we would need to do is share a plot with someone else - i.e. enter into an agreement with someone else who has paid a deposit so that we don't have to pay out anything more - we would need to hope that our joint spend so far is equal to a plot cost plus IVA - I hear they will take a 15% reduction - complete on it and then try and sell it - coming down by 30% will still result in breakeven and would be quicker than waiting to see if we get anything back from this fiasco. What possible issues could there be other than not managing to sell the plot? I just wonder whether it is worth waiting but the solicitor reckons it will take at least a year and a half.
Anyway sun is shining here and it is lovely. Has been a strange sort of holiday trying to sort things out, look at property to gauge how things are going and to try and have a bit of a holiday. Frankly we have had enough so we are doing no more this holiday. What do people think about the plot idea? Global minds should be able to see the hitches!
Carol
This is such a complex subject, its hard to advise.
I would caution several things though, not trying to be a 'know it all' - and Im sure youve already thought of this but
1. Do you have a decent lawyer, responsive and professional? If you are satisfied that you are getting a great service, and have been from the beginning, this will help. If not you are signing up for a lot of frustration. I suspect that you will both need the same lawyer as well.
2. Buying with 'somebody else' can cause a heap of problems. Even with a friend. Ive previously bought property with a friend I grew up with and have known for 40+ years. He got into trouble and needed some help, and I stepped in. Later for the silliest reasons it didnt work out. Had to sell an excellent house. Caused some pretty big problems in a long and close friendship. Not to say that this can't work, but there is always a risk
3. It seems like you are adding complexity, certainly legal complexity by going in with someone else... add that to all the normal difficulties of doing anything property wise in Spain at the moment with the crisis etc
Of course youre between a rock and a hard place, but if you do decide to join forces with someone else, I think it is very wise to set up a written agreement up front detailing how you would proceed in terms of cost sharing, the negotiation process, decision making etc.
I dont think however (and I have NO legal knowledge here), that they can force you to buy as my suspicion is that they are in breech..... but who knows what's hidden in the small print, certainly not me.
Whatever, glad you are taking some time to enjoy a great part of the world, and hope you find a way out of this quagmire
Good luck
Jon
May 8th 2009 | 2:38 am
#5703
RETIRED ;-))
Joined: Jul 2003
Posts: 20,156
From: Benalmadena Pueblo,Spain
May 8th 2009 | 3:57 am
#5705
BE Positive
Joined: Sep 2005
Posts: 3,984
Potentially Good News
Hi everybody
Good news - perhaps.
I was checking some old papers and realised that there is a possibility that some people are due some money... for completions on CE.
Before we completed, our lawyer needed to be sure that there were enough funds available to complete, so he estimated all the charges - and there are quite a few. This is acceptable I think, so I had no issue paying up front.
Afterwards, we asked for a proper account of the actual/real charges, and got a very nice surprise. We were due quite a nice payment, not insignificant at all... and worth going for. As someone who likes going out for a meal, anything that is a nice meal in value terms is worth going for, I think. And our refund was that and much more!
I also spoke to another owner who had the same good experience - a nice refund. However he found out months later, purely by chance, and it could have been overlooked over time - if he didnt have to go to the lawyer over another matter.
If your lawyer did the same estimation process, and if you havent been given a final account, you never know, there may be a nice surprise waiting for you - if so my commission charge is simply ......
a beer
Cheers
Jon
Good news - perhaps.
I was checking some old papers and realised that there is a possibility that some people are due some money... for completions on CE.
Before we completed, our lawyer needed to be sure that there were enough funds available to complete, so he estimated all the charges - and there are quite a few. This is acceptable I think, so I had no issue paying up front.
Afterwards, we asked for a proper account of the actual/real charges, and got a very nice surprise. We were due quite a nice payment, not insignificant at all... and worth going for. As someone who likes going out for a meal, anything that is a nice meal in value terms is worth going for, I think. And our refund was that and much more!
I also spoke to another owner who had the same good experience - a nice refund. However he found out months later, purely by chance, and it could have been overlooked over time - if he didnt have to go to the lawyer over another matter.
If your lawyer did the same estimation process, and if you havent been given a final account, you never know, there may be a nice surprise waiting for you - if so my commission charge is simply ......
a beer
Cheers
Jon
May 8th 2009 | 4:08 am
#5706
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Joined: Oct 2005
Posts: 2,377
Re: COSTA ESURI - AYAMONTE
Hi folks,
Good news about money coming your way, jon-bxl.
Carol E, (or John & Kath perhaps?), what is the position on plot owners and the Mancomunidad regarding fees?
Best wishes,
Carol
Good news about money coming your way, jon-bxl.
Carol E, (or John & Kath perhaps?), what is the position on plot owners and the Mancomunidad regarding fees?
Best wishes,
Carol
May 8th 2009 | 4:25 am
#5707
BE Positive
Joined: Sep 2005
Posts: 3,984
Re: COSTA ESURI - AYAMONTE
Of course, I had to ask for it to made sure it was not forgotten.... Im sure if I didnt - I wouldnt have gotten it.
Looking fwd to doing some nice walks in CE, before it gets too hot...
Regards
Jon
May 8th 2009 | 4:43 am
#5708
BE Forum Addict
Joined: Oct 2005
Posts: 2,377
Re: COSTA ESURI - AYAMONTE
Re: jur's pics. Aren't you too young to be "going all nostalgic" (lol)?
Jon,
Hadn't someone mentioned the mosquitoes and had a nasty reaction to their bite recently? IMO, need to watch out for the Asian Tiger Mosquito
http://en.wikipedia.org/wiki/Asian_tiger_mosquito
Someone said you can hear 'em before they land. Well, that's for sure, because sometimes it's like "squadron"! lol
)?Jon,
Hadn't someone mentioned the mosquitoes and had a nasty reaction to their bite recently? IMO, need to watch out for the Asian Tiger Mosquito
http://en.wikipedia.org/wiki/Asian_tiger_mosquito
Someone said you can hear 'em before they land. Well, that's for sure, because sometimes it's like "squadron"! lol
May 8th 2009 | 11:35 am
#5709
BE Enthusiast
Joined: Mar 2006
Posts: 537
From: Leeds, West Yorkshire and Tavira
Re: COSTA ESURI - AYAMONTE
Hi Jon
Thanks for the good overview we are trying to think through all options or we will be even older and greyer (or at least Pete will be - I don't do grey), before we get that place sorted. And I am working hard to keep Pete interested. Lastest is just to start again. Present prices make it possible. Difficulty is getting assurances that we won't be in breach with our original purchase.
Carol had a fab walk through the Mata National Park close to Tavira crossing streams did not see a soul. Loads of bird life.
Also recommend a visit to the Isle of Armona, ferry from Olhao about 3 euros return, no cars, lots of beach few people one or two bars and restaurants good one at the end of the path to the beach. So have done plenty apart from fret about property. Home tomorrow.
Thanks for the good overview we are trying to think through all options or we will be even older and greyer (or at least Pete will be - I don't do grey), before we get that place sorted. And I am working hard to keep Pete interested. Lastest is just to start again. Present prices make it possible. Difficulty is getting assurances that we won't be in breach with our original purchase.
Carol had a fab walk through the Mata National Park close to Tavira crossing streams did not see a soul. Loads of bird life.
Also recommend a visit to the Isle of Armona, ferry from Olhao about 3 euros return, no cars, lots of beach few people one or two bars and restaurants good one at the end of the path to the beach. So have done plenty apart from fret about property. Home tomorrow.
May 8th 2009 | 7:35 pm
#5710
BE Forum Addict
Joined: Apr 2007
Posts: 2,675
Re: COSTA ESURI - AYAMONTE
Some pics from last week:
New bridge to Portugal at Pomarao
Sunset and new moon over CE
Storks at Villenueva de los Castillejos
Countryside north of Puebla de Guzman
Mine workings at Tharsis
New bridge to Portugal at Pomarao
Sunset and new moon over CE
Storks at Villenueva de los Castillejos
Countryside north of Puebla de Guzman
Mine workings at Tharsis
May 8th 2009 | 7:56 pm
#5711
BE Forum Addict
Joined: Oct 2005
Posts: 2,377
Re: COSTA ESURI - AYAMONTE
Nice pics, MikeJ. Thank you for posting.
It looks like you've been busy touring the northern parts of the province? What were your impressions, if I may ask?
It's interesting to see the use of wind turbines at Tharsis.
As for the new moon and the storks (my favourite - always on the lookout for them), well, there have been several new births recently!
Carol
It looks like you've been busy touring the northern parts of the province? What were your impressions, if I may ask?
It's interesting to see the use of wind turbines at Tharsis.
As for the new moon and the storks (my favourite - always on the lookout for them), well, there have been several new births recently!
Carol
May 8th 2009 | 8:49 pm
#5713
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Joined: Oct 2005
Posts: 2,377
Re: COSTA ESURI - AYAMONTE
...Carol had a fab walk through the Mata National Park close to Tavira crossing streams did not see a soul. Loads of bird life.
Also recommend a visit to the Isle of Armona, ferry from Olhao about 3 euros return, no cars, lots of beach few people one or two bars and restaurants good one at the end of the path to the beach. So have done plenty apart from fret about property. Home tomorrow.
Also recommend a visit to the Isle of Armona, ferry from Olhao about 3 euros return, no cars, lots of beach few people one or two bars and restaurants good one at the end of the path to the beach. So have done plenty apart from fret about property. Home tomorrow.
Had a quick read up on it. Like the rating of "easy" to "moderate" walk (prefer the "easy"). Safe journey home.
Been on any romerias, old soul?
May 8th 2009 | 8:50 pm
#5714
BE Positive
Joined: Sep 2005
Posts: 3,984
Re: COSTA ESURI - AYAMONTE
Re: jur's pics. Aren't you too young to be "going all nostalgic" (lol)?
Jon,
Hadn't someone mentioned the mosquitoes and had a nasty reaction to their bite recently? IMO, need to watch out for the Asian Tiger Mosquito
http://en.wikipedia.org/wiki/Asian_tiger_mosquito
Someone said you can hear 'em before they land. Well, that's for sure, because sometimes it's like "squadron"! lol
)?Jon,
Hadn't someone mentioned the mosquitoes and had a nasty reaction to their bite recently? IMO, need to watch out for the Asian Tiger Mosquito
http://en.wikipedia.org/wiki/Asian_tiger_mosquito
Someone said you can hear 'em before they land. Well, that's for sure, because sometimes it's like "squadron"! lol
Hi Jon
Thanks for the good overview we are trying to think through all options or we will be even older and greyer (or at least Pete will be - I don't do grey), before we get that place sorted. And I am working hard to keep Pete interested. Lastest is just to start again. Present prices make it possible. Difficulty is getting assurances that we won't be in breach with our original purchase.
Carol had a fab walk through the Mata National Park close to Tavira crossing streams did not see a soul. Loads of bird life.
Also recommend a visit to the Isle of Armona, ferry from Olhao about 3 euros return, no cars, lots of beach few people one or two bars and restaurants good one at the end of the path to the beach. So have done plenty apart from fret about property. Home tomorrow.
Thanks for the good overview we are trying to think through all options or we will be even older and greyer (or at least Pete will be - I don't do grey), before we get that place sorted. And I am working hard to keep Pete interested. Lastest is just to start again. Present prices make it possible. Difficulty is getting assurances that we won't be in breach with our original purchase.
Carol had a fab walk through the Mata National Park close to Tavira crossing streams did not see a soul. Loads of bird life.
Also recommend a visit to the Isle of Armona, ferry from Olhao about 3 euros return, no cars, lots of beach few people one or two bars and restaurants good one at the end of the path to the beach. So have done plenty apart from fret about property. Home tomorrow.
Aaaah no not those mozzies that I hate, and now there is a 'tiger' one!! Yes there was a post in the last week about a nasty allergic reaction to mozzies. We have mozzie screens, which work great, and we can sleep with the doors open - which can be very nice. But the odd one gets in when we enter and leave, and I have this great gadget, like a tennis racket, with some really clever gizmo that takes power from a little battery and ramps it up. When you swat a mozzie with it, there is a nice noise and a spark as it fries! They bring out the killer in me! The worst noise in the world is the buzz of one as you are sleeping!
Were going to try the walks you mention, Carol2
sound great and if there are any others that can be recommended please post. With some directions as well please. Marisol walks her dog, Rocco, to Isla Canela from CE where she meets up with her husband, and occasionally friends, for lunch. That is a nice walk apparentely.The ferry trip sounds great too, will add that to the list as well - will definately do that.
Were really looking forward to getting there, except the trip. I bought a 'super gazebo' of ebay for a fraction of the cost - sounded great, but of course we have to lug it over to Spain!! We fly to Seville and will then pop into IKEA on the way to CE, as well...(I dont like the IKEA experience, but end up going as they have good ideas at times) So were not looking fwd to the journey, but will be great to get 'home'- put up the gazebo - which takes just a minute or 2 and have a nice shady terrace. BTW Ive posted before that its a good idea to tie down any terrace umbrella etc as the winds can be fierce, if I hadnt done it with our umbrella/parasol, my neighbour could have been skewered!
Then finally its meeting up with friends for dinner the next evening .... and a nice long holiday, cant wait!
Jon
May 8th 2009 | 9:03 pm
#5715
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Joined: Oct 2005
Posts: 2,377
Re: COSTA ESURI - AYAMONTE
Oh, I am envious, jon! Of both your holiday plans and the gazebo!
I'm imagining that the contraption reduces down to the size of a bag of golf clubs? lol
Which reminds me: I am on to my second lot of furniture covers for the patio (exposed area). Has anyone found a material that does not disintegrate in the sun?
I'm imagining that the contraption reduces down to the size of a bag of golf clubs? lol
Which reminds me: I am on to my second lot of furniture covers for the patio (exposed area). Has anyone found a material that does not disintegrate in the sun?
