More Informed Reading

 Interesting article.

http://www.guardian.co.uk/money/2010/jul/16/spanish-property-overpriced

Dave

Hi All,

I am gratefull to Dave for confirming that the toxic coastal  bubble of low quality, high density  properties aimed at the non Spanish still has its problems. It makes me want to be inland at SADM even more.

All the best

Tony

Interesting, especially the last paragraph

"A lot of people bought off-plan in developments where they were promised a whole load of facilities, but they were never built," he adds. "It has been a nightmare for them."

Hi Stevehollings,

Quite right to point out the importance of facilities, so I suppose we should be pleased that the plan agreed and supervised by the court has the 9 hole golf course being built before the properties are and that commercial units, club shop/bar etc are all part of the supervised plan.  Those of us who put money down at SADM are nearer to a postive outcome than many purchasers in other developments.

Wishing you all the best

Tony

hi all

havent posted for a long time as the tears in my eyes wouldnt let me .realising that sadm had stolen the money that my

husband and i had worked so hard to save  .every thing they ever told us was a pack of lies from the promise of bank guaran

  tees to the completion dates.surely no one would believe a word they say again .now the tears in my eyes are of laughter if

some people honestly believe the courts will make sadm do anything .its being proved with this bank guantee issue they will do

nothing sorry about the rant anybody still chasing there money best of luck anybody chasing there dream best of luck

barry and mags

hi Barry and mags,

Well said and your are not alone a lot of us do not have the blinkers on and the ones that do are going to get biten in the as* in a couple of years time.

If My house could be built tomorrow it would cost me 200,000 and I could maybe sell it for 120,000 so the maths is not good, I would prefer to get my deposit back now and buy Tony's on the cheep in 2 years time if it is there.

It's still a waiting game as usual but i will be pushing for my deposit back as they are well in breach of contract.  Keep looking on the sight and join the class action that will be taken out later.

Hi Recardo,

Good luck with your legal action & i hope that it does not cost you too much more money.

I am afraid that the comments about SADM and property prices are conjecture; as properties are to be built and the economic climate and the property market will have had time to improve by then. You are also forgetting the compensation that is to be given to purchasers, the varrious options that are avialable to them and that the inland property market is different to that of the coastal sprawl of expat developements.

I appreciate that you would like to have your money back right now but unfortunately that is not going to happen but at least you have the opportunity to get some or all of it back in about 5 years, which I think is better than loosing it all.

I hoped that we could finally all work together  in ensuring that ALL purchasers get either their properties or money back and do not waste time, money or effort in subsidising the legal profession.

Wishing you all the best

Tony R17 18

I dont often visit this Forum anymore having taken the option to have a completed lovely property amongst the 'coastal sprawl' as you refer to it. Tony.   We have met, had drinks, socialised and been highly delighted with the Company we now keep (a number of ex-SADM buyer's) in our new community on the edge of the Countryside but within 15 minutes walking distance to the beautiful beaches.  All those years ago I had a dream that turned into a nightmare.. the prospect of waiting for another 5 years (or more) with no bank guarantee, no absolute, no roof, no key...none of the facilitiers promised makes me know we did the right thing.  Several holidays latter and with family using the property and thoroughly enjoying not only the adjoining countryside but also the 'sprawl'.. thank goodness we didnt wait another alleged 5 years for potentially a few % back!  We ALL HAVE  the option of re-locating to other developments and they do re-negotiate on prices.. you just need a good Lawyer.  My grandson was 3 when we entered into the dream of SADM.  He's now 8 and a superb junior golfer..thank goodness we now live near 3 x 18 hold excellent golf courses to at least live this dream out. 

There is nothing wrong with near the Coast, its beautiful and it is seconds from the countryside!  Time is too precious to wait on promises.. Obviously my own opinion entirely.. best of luck to everyone on the forum (genuinely).

Sally