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Hi Deerpark , 

      We used M.RI to purchase a villa on A.C.C in october 2005 everyone who we had initial contact with has left the company.  Saying that the rep we had show us around the area was one we requested as we had already met him while on holiday in Roquetas in april 2005  went to office and he took the time to show us the area good and bad parts  so better the devil you know.  The only problem we have is that no one bothers to let us know what is going on  the only contact we have had with M.R.I. reccomended solicitors  was on signing to reserve a donnana and thats that. We only find out what is going on by checking out the owners forum  so maybe mri are not the best company for after sales service. 

                  Hazel

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Hello,

I can not say from the agents, since it can happen that they dissapear or not respond after the private contract is signed, but the lawyers (if the Law firm is not an experiment created "ad hoc" for or by the agency) are usually independent and many of us also like to keep a good long term relationship with the clients for the future.

At least, this is the way I understand the lawyer-client relationship.

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Hi Haydngj I most certainly do not wish to belittle your friends experience but these situations can be as fraught with danger as the experience you are clearly not enjoying. There are many unscrupulous builders here who will develop a plot of land and shove a house on it that does not have correct licences etc. They will then introduce you to a lawyer who does not explain the construction Licence is actually for a factory or a warehouse, but because someone at the Town Hall has been given a bung to turn a blind eye nobody has stopped the construction. The property changes hands - new owners delighted with their house only to have the Police turn up 8 months on with bulldozers to demolish the house because it is an illegal construction.

Every step one takes with buying in Spain should be taken with the greatest care. For every horror story there are probably 100 or more success stories. The important thing is to become one of the latter. Better to do things right than do things quick and dont leave one's brain on the plane.

Rgds  

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Sharks, hard sell but their business is booming! Guy started it 6 years ago, and they have their own method of convincing people to buy.

In some countries they have bought or taken the option to buy complete blocks and then whack the price up to make massive amounts of commissions.

Sales staff burn out after a few months as they are worked to death - high expectations from them

Bad publicity doesnt seem to dampen their enthusiasm and I understand numerous law suits against them for all sorts of infracciones.

What more do you need to know?

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You did right - they do produce the goods but by god! At exhibitions their staff arent allowed to talk to anyone else, even to say hello. Only the boss guy can speak and at the end of each day they are swept away to a separate hotel to keep their mantra!

There are levels to which one would not want to step into!

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Check this out on MRI, click on the link and scroll down to 'Homebuyers stung for a place in the sun'.

http://www.overseaspropertymall.com/category//Irish-overseas-property-market/

There was also an article on their mis-selling last September I think, in the Sunday Times.

Personally I wouldn't trust them further than I would trust Ocean Estates, their tactics and hype appear very similar.

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I don't doubt for one minute that the comments below are true. However, I bought through MRI and so far the service has been ok. We purchased a property off plan in Elviria it was one of those developments that was caught up in the Marbella Mayor scams. As a consequence all building has been suspended but MRI ensured our bank guarantee was in place and we have now had our deposit refunded where as I know others have to play a waiting game to see if the council will provide a license to continue building. If not they lose their money! We have purchased off plan in Duquesa through MRI and so far so good. Our contact responds quickly to my emails and phone calls and is knowlegeable on most matters. We have probably been lucky but I am strongly of the opinion it really boils down to the individual you are dealing with in these companies.

Alan

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Like Alan buying in Duquesa via MRI

No problems so far, they keep in touch and help with any queries we have. I think we were perhaps lucky on our inspection trip and had one of the their more experienced agents. Certainly would not describe it as a hard sell & he answered all questions honestly, including a few deliberately included where we knew the answers.

Like most large companies it's ultimately down to the individuals you deal with. Perhaps we were just lucky, or had done sufficient homework before we went out. Time will tell.

John 777

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I too bought with MRI in Arenal Golf off plan over 2 years ago,Their service so far has been fine they keep in touch and answer any querries I have.They have also collected me a couple of times on return visits to visit the site.I had done a lot of research prior to buying which I feel is key to making the right choice rather than going blind on an inspection trip.In saying all of this about MRI you do hear very mixed reports of their service/standards etc..My 2 cent worth is please do a lot of research before going out to purchase it really does help.

Cheers

Dave  

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So, like the Ocean member/s of staff who sometimes post here, the Sunday Times have lied, (I don't think so), the article was similar to the many about Ocean, same tactics etc. You forget that the S. Times puts reporters in posing as purchasers as well as gather experiences from clients.

One thing for sure is, if you've bought through any of these companies you are now in negative equity because of their huge built in commissions, and expensive completion costs, and in some areas like Bulgaria there is little or no re-sale market, so selling on sometime with a profit is very unlikely.

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i bought 2 apts in the algarve Portugal with my business partner 16 months ago through M.R.I and i have to say so far they have been very good with us, i find them very profesional in how they keep us informed and always keep in touch when we have any queries etc, the 2 apts are coming up to completion now in next few months should be key ready so we have just had valuations done from bank and i must say we are deffinately not in any neggative equity , infact apts are vallued 40,000 euros more than i paid through M.R.I 16 months ago.  As people below are stating , i may have been lucky as well who knows,but i think the truth is there will always be unhappy clients etc in an organisaton that big but generally i think M.R.I are not that bad to buy from and you could do a lot worse

ROB

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If the initial valuations that are now emerging are anything to go by I and anyone else that has invested in Arenal Duquesa are definately not in negative equity! My only criticism of MRI is this, when we first purchased we had all the aftersales facilities offered to us (i.e. airport pick up's, discounted hotel accomodation etc.) because we were their clients. Now they have introduced an after sales service membership that has an annual fee. I can accept this as good good business practise but only for new clients. I don't think the rules should change after you have bought your property. But that is my only gripe, as I have said they have been very professional and attentive up till now.

Alan

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sorry if I'm cynical of some of these agents noelandwilma and maybe MRI are not in the same category as Ocean, they have only been exposed once in the Press to my knowledge so far, whereas the others have been in at least on 5 occasions. However if you watch their TV channel there is an awful lot of bulls---- going on with staged performances, unrealistic perceptions of the market and ugly views they describe as gorgeous etc.

John Howells a lawyer often linked to some of the questionable agents inc. MRI, at no time tries to dissuade purchasers from paying B. monies to complete say in Turkey, he almost advocates it on TV.

Of course agents are sometimes in the hands of their own greedy sales people who may say things not of a Company policy, however the Company is still responsible.

As for the Press, the S. Times and Mail on Sunday have not been wrong 5 or 6 times about Ocean, I know for a fact as an ex client of theirs and many other clients who've contacted me, the reporter involved, the ex staff members etc ALL could not be wrong.

As for negative equity in Spain, if for example 400k euros is paid off-plan plus 11% completion costs, make that 444k euros, plus all other costs etc, commission of at least 20% say 80k euros included, for a property which was valued at 320k euros. An often used phrase by agents 'it's a no brainer' when buying, it's a no brainer this equates to negative equity, it'd be years before anyone can break even.

Cynical with reason.

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