24 Jan 2009 10:04 AM:

Hi Mazbaz,

VERY VERY interesting, the light at the end of the tunnel glows a little brighter, a nice piece to have discovered.

Community thread: Spanish law favours the buyers

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01 Jan 2009 2:27 PM:

Having spent a considerable time on the phone to a mortgage advisor in Spain yesterday, it is now abundantly clear that even if l wanted to go ahead with my purchase at Corvera I cannot raise the mortgage to pay the developer, charges and further fees.

The mortgage market in Spain now bears no resemblence to the market that existed in 2005, which is when l 'bought' my apartment.

l suspect that the only option l now have is to cut my losses and walk away, put the whole thing down to a bad, and expensive, experience.

Although the idea of the developer closing the site until the global economy is back on track might seem a solution to all of the problems, l doubt that it is even a consideration in their minds. Look at things from their perspective, they may end up with a large number of purchasers 'cutting their losses' and walking away, but that leaves them with an equally large number of units that are already 1/3rd paid for, these units can then be sold for the remaining 2/3rds of the original asking price, in the current climate these would be viewed as somewhat of a bargain by cash investors, the developer doesn't lose in the long term.

Steve

Community thread: stop building

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16 May 2008 6:55 AM:

Good morning Ray,

You are absolutely right, you will be able to invoke you legal rights under Spanish Law!!

If you go to the Corvera Golf and Country Club forum on this website you will see that this subject has been covered quite extensively. You will also see that Calidona are now trying to 'cajole' buyers into not invoking the law by offering a 'Promotional Card' to the value of 3.000 euros, an offer l might add l have no intention of taking up.

By reading both forums you will see that the Corvera buyers are a lot more wary of the developers actions, mainly due to them reading the postings made by you guys at Roda.

Hope this helps, and good luck. you can PM if you need more info.

Steve

 

Community thread: Georgia might know the answer to this

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04 May 2008 9:28 AM:

Hi all, I have read the aforementioned (contentious) documents several times and have taken note of all of the previous comments on this thread. For those of you that are regular contributors to this forum you may remember that l forewarned everyone that Calidona would attempt to encourage and cajole buyers into accepting October 2009 as the 'legal' date for completion when in actual fact the date in Spanish Law is May 2009, the date that they claim to be setting for completion ahead of time. As for the latest 'enticement', has anybody else given any thought as to how this will be policed. How will we as individual buyers have a clue as to how many lots of 3,000 euros have been paid out or even claimed!!, and as sure as night follows day the only thing you will be able to spend them on (assuming you get a CLIENT CARD) will be over priced furniture packages, there will be nothing else available within the stated 12 month period, for details read the Roda forum.

Again l state that l think that Corvera will be a stunning place to either live or have a holiday home, but lets be realistic, it's not going to be for at least 4/5 years and we must all be concerned about the present and the near future. l still have concerns about the credibility of the whole Calidona, Corvera, selling agent and 'recommended' lawyer pact. l for one will be seeking truely independent advice on the legality of the offer and will post the answers l recieve.

 

Steve 

 

Community thread: No More Fresh Cooked School Dinners in Andalucia

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28 Apr 2008 1:51 PM:

Hi AShish, l would say that the only way anybody has of finding out if the PGA are still intending to be involved with Calidona at Corvera is to contact them direct. Because if history has taught us one thing it's that neither Calidona, Corvera, MRI or their 'recommended' lawyers will impart the information!!!

 

Steve

Community thread: furniture package for sale half price

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