HELP!! SINGLE MUM PLANNING TO MOVE TO SPAIN

Hi Martin!! How nice to meet a close neighbour... getting excited about it all now.

Seems such a long time ago since I made the decision to buy getting very real now.

 

 

August 05 was the date we decided to take a place at Corvera Lisa.....you're right its been a long old haul.

(I even indulged looking at furniture packs today.........!! I know getting a little too carried away)

Lets just hope there are no more slippages and the £ firms up against the Euro.........well for those that haven't transferred their balance payment yet!!!

 

Is 11-D-15 (MENTA) the block and number then

Can't quite work it out , unless I am looking in the wrong place on the contract?

Hi Dedgley

We are 11-D21 and must be very near to you. I have had conversation with solicitors and they have assured me everything is going fine.

From resent photos i can see the top window of our apartment i wish i was looking from the inside.

Lets hope the builders keep up the pace and finish on time or before. Most inportant lets hope the £ strengthens.

Hi,

I think the 11 means phase 2, and the block number is 15.

Hope this helps,

Gina 

This message was last edited by ginab on 4/21/2008.

 

wow , aawright - looks like we are nearly sitting in each other's laps!

I think 2 years of uncertainty has just made me feel so elated by all these recent postings.

Hi All

Have bought on phase 1

Have had official notification from Corvera that the build licence has been granted.

Quote--- ''The property handover date is set for 18 months following receipt of the licence, with the deadline therefore being October 2009. That said,and as stated by our president in his letter that you will have recieved last September, we expect the property to be completed ahead of deadline, the company having taken the appropriate measures for this, with April or May 2009 as the scheduled date for completion of the works; in keeping with the estimate given by the president.'' ---- unquote

 

there is more in the letter but I thought this was the bit of info most were after, would imagine lot more have had their letters as well

pauline and steve   

Hi all

I recently asked the lawyer the following question -

Our understanding is that, as the building work began in November 2007, we have a legal right under Spanish law to seek compensation from the developer if the property is not completed by May 2009, no matter what the contract states - could you clarify this please?

Answer from the lawyer - It will be necessary to prove that they started to build in November 2007.

This has been discussed elsewhere on this forum, and it would seem that we are able to prove the build start date, but no harm to repeat here I think.

Personally, we're trying to stay optimistic, and hoping against hope that none of this becomes necessary, but even with today's correspondence from Calidona, past experience on lack of information from agent, developer and lawyer re Corvera and also re property we have bought in Bulgaria leaves me still feeling wary. If only these peeps would respond as quickly as they all did when we were signing up and paying out, I think we'd all feel more confident.

Let's hope this new communication from Calidona will be the start of the regular and timely sharing of info from all concerned from now on :))

 

 

Pardon my ignorence, just recieved bank guarantee extention (extended to 31st May 2009) from lawyers (recd. by MRI).

Does this mean that property should be completed by this date?

I am, however, delighted to see the progress.

Any one wishing to off load front line villa at Corvera (3 beds)?

I am P1 buyer.

rav.

Our solicitor has just received confirmation from Murcia Town Hall  that they have finally approved all the building applications made by Corvera Golf & Country Club.  It just remains for CG&CC to make payment of the pertinent administrative fee for the licences to be issued.

Thank you difi.  I'm sure that will put everyone's mind at rest!!  Does that mean Licences have been approved for all phases, the golf course and the commercial centre?

Anita.

Sorry Anita, that I don't know.  The information via our lawyer was just worded as per my previous posting - but hopefully "all" does mean just that.

"All" should probably read "All that have been applied for so far by Calidona". I doubt wether it yet includes final phase 3 or phase 4 plans as they then have to commit to completion dates. As for the hotel etc. I would say almost definately not. How I would love to be wrong on this!

Sorry, I am also going to be negative but realistic. I totally agree with SteveandJane as there are too many unknowns at this stage to start becoming complacent. Considering these unknowns, I have now changed solicitor from that recommended by MRI. I will be first in line to congratulate Corvera if things work out as planned, but at present not sure if this will happen. If things don't go as planned, access to good legal advice may become necessary and will be worth the extra cost.

Ash

Hi Ash, can I ask why you seem so unsure about the future of Corvera.  Looking at recent photographs, I would say that real progress is being made.  Works are also progressing at Roda, especially the beach club which is due to reopen after a total revamp.   Seems that Calidonia are trying to ride out the storm.  Not criticising, but why so negative when things seem so positive at the moment.

Anita.

Thanks Anita,

Things are going so well - I beg to differ.

1) At the quoted time for completion the development will be almost 2 years late. Even as we approach the final 12 months, there is no information available on whether licences are available for the golf course as well as phases 3 and 4. There is no news whether the hotel is still going ahead, only confirmation from parties with an agenda. Best case scenario - all is completed 5 years from now. Worst case scenario - we have phases 1 and 2 living in a dust bowl. It is a fallacy to think that if Rhoda is completed all is well. Developers still go bust. This is especially so as shares in property companies tumble by20% on the Madrid stock exchange and property prices fall in Spain. Yes, we have bank guarantees - try claiming on them if things go belly up between phases 2 and 4.

2) Please don't even mention the credit crunch and how that affects the cost of obtaining a Spanish mortgage OR how much money we are loosing with a worse Euro exchange rate compared to late 2007 (projected date of completion quoted in 2005). I am in it for the long haul and have no interest in renting or a quick sale. But, sometimes wonder how much interest Euro 75000 would have made if invested on a compound interest basis in 2005. Can this loss in value be compensated by an increase in the value of my apartment. I think not.

So what do I have to look forward to. Uncertainty as to the state of affairs in May/June 2009. Snagging lists as long as my arm with reasonably poor customer service (Rhoda Forum). A predicted poor exchange rate with increased costs. A more expensive mortgage.......

Ash

Hi Ash, I do understand your frustrations.  Unfortunately, no one can do anything about the Credit Crunch.  That is just something we have to accept, and everything that goes with it, i.e. mortgages, exchange rates etc. etc.   I also agree that work on Roda does not guarantee anything regarding Corvera - but it gives an alternate view of Calidonia.  Yes, developers still go bust.  But that can happen in good times as well as bad.

 Licences have been obtained for the golf course.  I posted that information on 19 June, work has started.  Not sure how much.  I also agree that we don't know how long it will take for the development to complete in its entirety, but that is the same anywhere you purchase off plan.  Off plan being the penultimate phrase.  I knew our apartment would be in the middle of a building site for some time when I purchased and I accept that.

When I said that real progress is being made - it currently is.  Properties are being built at quite a pace.  I know we are behind by two years, I put by deposit down in May 2005.  We have to accept that now.  I am trying to look forward and look forward positively.

I still believe that Corvera will be completed, and will be completed to a high standard.  As for the hotel, who knows what will happen there, but I am sure that a hotel will be built and it will be a reputable chain.  Work has now started on the airport and I am sure that will be an incentive, being so close to.

We will get there, I'm sure.

Anita.

Ash, I think you are spot on with your comments. I hadn't considered the nightmare scenario of Calidona going bust after we've completed on to Phase 1/2. Do you think we'd have a leg to stand on if we refused to complete until the golf course was finished ?

Anita, I admire your optimism, keep it up on behalf of the rest of us who are fearing the worst !

Dave

Am I missing a vital bit of information - since when has it been uncertain that DeVere will not be the hotel on this site?
 Carole

Hi, Thank goodness for the positive comments from Anita. Folks we have all bought in to Corvera and I'm sure we all knew at the time of signing, we are in the hands of the gods. Only worry about thing of which you have control !!!! You signed now you have to sit it out or jump ship, your choice. For me, sure it has run over the completion date, but let's be truthful, did you really feel it would run to date? In the long term we are with a good builder who will not let us down.


This message was last edited by HQ on 7/13/2008.