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Residencial Santa Ana del Monte forum threads
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12 Jun 2009 12:00 AM by FriendinNeed Star rating. 789 forum posts Send private message

Having just read the good news that someone else with a BG has had their money back.
Let's first remember that the development could not be carried out due to lack of funds, despite many people placing deposites.
Our friend   mentioned the other day that 90% of purchasers did not have BGs. So we can assume that 10% have BGs and surely if they can now opt out and have sense, they will.

So, you are now left with 90% of the initial number where people had paid deposits.
Surely, due to change in circumstances, be it unemployment, unable to raise finance, bankruptcy, recession, etc., etc., etc., a reasonable percentage will just have to face up to the loss. Not from choice, but the decision due to financial circumstances will have been taken away from them.
Then you will have some who had in mind a buy to let opportunity. Ignore the above and funding issues, who in their right mind will want to proceed with an acquisition, where prices were set at peak (and even taking into consideration SARCs recommendation for 10.000€ would compensat), knowing that valuations will have dropped 30/40% rental requirements due to drop in tourists will have been reduced 30/40%.
What % of the initial purchasers would then be left 20/30% overall.

Right, Mr Bankers. I have this site for a huge development. All singing and dancing. The tourist market has crashed, the money market has crashed. The company went into voluntary administration because you cut off my line of funds. I may have lost 60/70% of my original purchasers and our reputation isn't too good because of it.

Will you arrange for a line of funding for me please?

 




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12 Jun 2009 3:47 PM by MAGICMEG Star rating in Scotland. 546 forum posts Send private message

Mr Bankers reply " No chance " result good bye HdT good bye SADM . As has been said all along  " the White Elephant is well and truly dead " It will not happen just because people like Tony and Brian wish it would .Any one with an ounce of intelligence and logical thinking can see it is over .Sad but true !


 



This message was last edited by MAGICMEG on 12/06/2009.

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12 Jun 2009 6:38 PM by joanie666 Star rating. 231 forum posts Send private message

 lets just suppose that you are both wrong and finance is granted. the expropriation of land was rejected. They do not own the land to build the golf course on and cannot have it parceled as an urbanisation. Oh and dont forget the 5 million needed to pay for the expropriation after the process has been started again. Also bear in mind the news acts that have come into force in spain regarding sustainability and water resource. Santa Ana is never going ahead!

Congrats dawn and Paul! (I think MFI stood a better chance than herrada del tollo and we all know how that ended!!)

Hope you are still enjoying your life out in spain

 

 




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12 Jun 2009 7:14 PM by FriendinNeed Star rating. 789 forum posts Send private message

"water" was never an issue at SADM. Don't you remember the "idiots" told us so and when I suggested a hosepipe to the Mayor's house, I am certain they laughed it of as not needed.

Maybe, just maybe, SARC have a dedicated water supply for its members ?




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Previous Threads

I have my money back!!!!!!! - 24 posts
ANY NEWS or is it all a secret - 9 posts
News Article in Spanish Property Insight - 0 posts
"THE CON OF ALL CONS" I WANT MY MONEY - 245 posts
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SJ what is the truth ? - 1 posts
IS THIS PERSON MAD? Photos submitted by user nweatherall210 - 22 posts
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TWIGIT - 2 posts
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The bad news just keeps coming - 4 posts
Been away from forum, need accurate update. - 4 posts
More bad news - 36 posts
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Do SARC have any regrets ? - 17 posts
Good News - 10 posts
SAN JOSE INVERSIONES - Administrators report - 32 posts
SARC making stupid unfounded comments - 12 posts
SARC report February - 1 posts
SARC - 2 posts
Hard luck twiglet- you now have also lost your deposit - 8 posts
Competition - 4 posts

4 posts were found:


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