Anyone out there trying to purchase a plot from Grupo Trampolin on their Royal Dreams Site at Albudeite near Murcia?

My husband and I have paid over our reservation fee and are in the process of checking contracts before paying our contractual deposit.  We have chosen an independent solicitor to check things out for us and he has come back with a couple of concerns, i.e.

1. Although the developer has been given approval to develop the site, the actual dwellings don't have planning permission and it could be some time before this happens, given the huge backlog for the area; and

2. The bank guarantee apparently does not guarantee you get all your money back if something goes wrong.

Should we be walking away from this deal or is all of this quite normal for the laid back attitude in Spain ?  We aren't in any particularl hurry so the length of time to wait isn't a concern for us, but I don't want us to end up with nothing and not be able to get our money back.  (Although the balance of monies won't be demanded until the property is built and they hand over the keys, but I'm scared that we don't get a habitation license if the properties don't have planning permission).

HELP - Anyone out there in the same position as us?

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Hi Miss Moneypenny,

This company has built 2 previous projects, Solera El trampolin (Valle de Sol Near the Mar Menor) and Trampolin Hills (Campos del Rio Mula)

In both cases the projects began without building licenses or bank guarantees.  Their prices are very cheap and the finished product is as good as most in their respective areas.

I understand that the Solera El Trampolin project is now organising notary completions for title deeds after a 31/2 year wait, but it seems the early buyers have doubled their investment.

Trampolin Hills is held up with enviromental issues but planning is through, though building licenses cannot be issued until the enviromental impact investigation is completed, my company lawyer is confident it will be resolved, however it is causing delays of around 12 months at least.  Again the early buyers on this one will have easily doubled their investment on completion.

Royal Dreams despite no legal status has virtually sold out in the early phases.  Amazing ... but many of the buyers have bought on the other projects and can see another hefty return on investment.

Your lawyer should advise you to stay well clear, that´s to be expected and many have heeded that advice.  However your savvy investor both Spanish and Brits see it a bit like a gamble, and if it comes off they cash in.

If you can get a good low payment structure and can afford to lose some or most of it if it all goes wrong - then there is a good chance the developers will get it all passed and the early investors do well.

However the risk is there for all to see, as some day the builders luck will run out with the planning departments

My summary  - a reasonably calculated risk if you dare - fortune sometimes favours the brave.  If it´s all your life savings to be invested then without doubt leave it alone until it´s legal  - but as in their other 2 projects there wil be a hefty 40% price increase.

Good luck and keep us posted.

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