we are buying off plan in san juan de los tereras

We put a small deposit down in Sept 03 of  3000 euros

Then a further 84155 euros which was 50% of the property value in Dec 03

Every 2 months we recieve a progress report from Medsea Estates

with completion date stated 1/12/2004

we are now feb 2007

the reports have stated all items to be checked

upto last summer on the list was purchaser to be invited over to spain by medsea and accomodated  at 50% reduction in their hotel to enable them to choose tiles  ,then they removed this and said we no longer had the choice

there was always a box to check when kitchen units were fitted then in the box it said N/A

when questioned they said the  builder wasnt putting a kitchen in but if we had any thing in writing to say he was that we should fax it to them

obviously has we were told that white goods were not included never questioned a kitchen

we have complained to medsea who say that they have spoken to their manager and he cant comment on properties that were sold before he took charge and reinstates there will be no kitchens

Is this normal procedure and has anyone else experienced these problems

are we right to think we should be seeking legal advice

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Janfos - you need to check through your contrct to see what was included. Usually there is a list of specifications although at the bottom the developer usually states he has the right to change it!

Check with your lawyer too as you need to be sure of exactly what you signed for (not was orally stated) befre you can decide your legal standing

Good luck

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The contract is like a seive with just as many holes in it

but i have since had a reply from maria de castro who thinks she maybe able to help so fingers crossed

will let you know

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Hi

This is a story we wish we had seen earlier.

We also purchased a new property through Medsea.  At this time the jury is out but we are extremely concerned given the time scale mentioned in this forum.

Our property was due for completion in July 2007 and after 10 emails and a threat that we would visit the builder ourselves we eventually established that the builder has had "second thoughts" regarding completion.

Medsea during the sales tour were very professional and we placed our trust in this.  However after sales is non existent. 

Today i received a phone call from a manager who explained that he would give us an assurance that our money would be refunded and that he had a written document from the builder stating same.  I asked if the Solicitor had been informed to which he stated that they were aware of the position.  i subsequently emailed the solicitor.

Medsea kindly offered three options:

1. If you want this property then you will have to wait to see what the constructor decides(no time frames agreed with this option)

2. We pay for you to return to Spain and select another property

3. You choose to have a refund of your deposit

No guessing which option we selected.  the probem we anticipate is actually getting our monies back. ie. 3000 euros plus 68904 1st phase payment.

this should test the mettle of this company.  In the interim i asked for a guarantee from Medsea who declined and stated it was up to the builder.

Any advise from those in the know would be appreciated.

Good Luck all with your quests

EPCO

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Anyone considering buying, particularly "off plan" should read this article, these are the hard facts despite what your agent may tell you.

http://www.spanishpropertyinsight.com/latest_spanish_property_market_report.htm

 John

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Do you know - while I agree the glut of 2 bedders IS the main cause for the oversupply, I am appalled at how all these supposed reports obtain their figures. Reasons are :-

1. The asking price tends to be pulled out of the air by owners and agents.

2. The bank valuation is based on euros per square metre, not a comparable of the sales price

3. The actual selling price is agreed between vendor and buyer - no one knows this!

4. The declared price on the escritura, which with b money can be ?????% lower than said sales price AND bank valuation

So HOW do they base ANY facts on this at all??????????????????????????????

OK rant over. Have a good day - too hot now and going to the pool !

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Hi Rixxy

That thought had crossed my mind too, it does seem a bit "Trevor McDonald" but i thought people should read it, and make up their own mind how much they take from it.

Stay Cool

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Its very like that and irritating to such a degree for me having been in the bussiness for over 23 years now! The UK system is so clear so unfortunately people are led by that and assume its the same here,

Having been preaching about this oversupply and overpricing for over 4 years now, finally its coming home to roost!

I get angry everytime these so called experts come up with stuff that is basically fabricated, then innocent people read this, assume its true and act on it!

Surely there should be controls on it - facts should be stated not fiction - otherwise I may as well give up and write my own book and sell thousands of properties!!!

Right - time for a nice cup of tea and back to work!

And the TmcD programme was based on fact - it really is that bad despite the rosy view most people want to see of it. Thats not necessarily a bad thing, the bad will be shaken out and Spain will rise again, thats for sure!

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Hi All,

Good news since my first rant.  We can now sleep easy as my worst fears were wiped out.  However not until a lot of push.  The builder has agreed to refund all monies paid and endorsed this through my solicitor.

On the down side, I have been charged 250 euros( a discounted price) for the privelage of getting my own money back into my Spanish account.  I am beginning to believe that buying a holiday home in our own country would be an easier option despite the poor climate.

Finally a word for Medsea.  After a few e mails and a lot of stress they have demonstrated a genuine concern. Whether we deal with them or anyone else in this complicated business remains to be seen.

Many thanks to those who took time to reply.

Epco

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Stumbled on this site by chance.......my property should have been completed around 2004 (will get back onto this site when I look up the details)......there has been a problem with the builders Prolacon...I won't go into detail, but Medsea assured me that my 50% deposit would be refunded should anything happen to their 'vetted' builders.

This has not been the case....I intend publising my case as much as possible, and would recommend others with similar problems do likewise.

Will be back on this site with a more detailed breakdown of my situation....may even try inserting a video....I'm certainly going have  a look at Google Video and You Tube.

Bye for now.

Phil Andrews

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You can find many posts in relation to that in this forum.

Know that the big delay the developer has incurred, entitles you for a refund of 100% plus legal interests.

_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

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Quick update on my problem.....have just started to put videos up on 'google' and 'youtube' to try and get Medsea to return my deposit....

Put in a search of "Medsea Problems"......the google one is up and running as I speak......suggest you do something similar if you are in the same situation as me.

http://video.google.com/videosearch?q=medsea+problems&hl=en

Bye for now.

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