Phase 2.

Hello all,

Can anyone tell me what they paid for a 3 bed in either Blocks 7/8 or 4?  I think Promaga office in La Linea have been telling porkies!  I have to move from phase 4 to 2 as a result of having sold my house here in UK.  I was given a nice discount of 6600 euro's on phase 4( I dealt with the promotor direct) but it seems that has not been carried over to phase 2!  I think they think I am in a hole and are playing tough.

They have quuted me 285k + iva having stated they had reduced the flat from 305+iva.  All the evidence I have seen points to the fact that the flats were never at the higher price!  I just need proof that they are lying!

I was there a couple of weeks ago and visited the site and inspected block 8 which is near the centre.  The work is going on and phase 2 will be ready in a couple of months. Phase 4 will be ready in March/April.

I would appreciate any information.  Having dealt direct with the Promaga office, The head of sales can't organize a p...s up in a brewery, so god knows how people who dealt through estate agents get on!

All the very best.

Jono.

Hi Jono,

Can't really help a great deal.

We are buying on Phase 4. A 4 bed 2nd floor appartment was around E330K + IVA. From what I remember, when we signed, a 2 bed on Phase 4 was going for E248K....... I have a site plan with that figure scribbled on it !!

Based on this, a 3 bed for E285 sounds about right.  Note: these are Euro figures not £s

However, we dealt through an agent (ADH) and they probably added at least 10% onto the prices.... probably more !!

Do you know if Phase 1 has now formally completed with a Licence of First Occupation ?

Regards

John

 

Hi all

Is there anybody out there who as competed their purchase on any phase?

Or do you know if any body who has move in to there town house apartment?

If so would like to hear from you.

Calvin

Hi Calvin / DoubleJ

I have bought in phase I and yes the Licence for First Occupation was issued this week (see my message of today). I bought a 4-bedroom townhouse and made my final payment in April of this year. At the time I was told that Phase I would be finished in May.

I bought rather late into phase I as I wanted to capitalise on the price reductions. The only way to do that was to transfer from another Promaga development, which I did. I paid EUR 357,200, exclusive of VAT, which was a good deal (at the time!). Last time when I spoke to the Director of Banesto, he said to me that the mortgage is normally EUR 298,000 on average (these are bulk mortage figures) and offered me EUR 13,000 cash back, as my current balance (now that all installments are paid) is EUR 285,000.

Mortage administration fees alone are more than EUR 6,000 with lots of other costs. So perhaps you can try and find out your personal situation also. If you have lived in Spain for some time, you know that delays are part and parcel in the industry. If I can move at the beginning of the new year, my wife and I would be happy. That is nearly nine months after I made the final instalment payment!

I am curious to find out how many houses and apartments will be left unoccupied - it seems it is going to be quiet in the complex!

RBA

This message was last edited by RBA on 10/17/2008.

Hi

Well Not sure where to start....

I bought a flat in Vista Hermosa Phase 2 block18 and they told me it would be ready in December 2007 a whole year has gone by and I am still waiting.

I have paid over 40,000 Euros and they just give me excuses that its delayed cause of this and that.

I really think that instead of all of us complaining in this forum about our problems we should gather together with one assigned lawyer for all of us and take these F...ckers to court !!!

My lawyers from Hassan and Partners have told me that the chance of winning is very high and that we could either get our deposit back or reduce the amount of the mortgage.

He also told me that if it was a group of us with the same problem then our chances would be even higher as the courts would have to take a view!!!

Manuel Gavira the owner and respresenter of Promaga, is very well off and has all areas covered, but he has an obligation to his clients which he has to meet and is not doing so.

Should any of you would like to join forces with me I would be more than willing to meet up with you, I am from Gibraltar I am not allowed to post my e-mail address just now but I shall be checking the forum on a regular basis

Either way with or without any of you guys I am taking them all to court !!

I am sick and tired of them all

Regards

Marcus