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Hi, We were rather late comers to the Forum and for a few months previously read, absorbed and debated over the liklihood of SADM being built. We personally are happy to weigh up all sensible, emotion and factual comments posted. We did this. Commercial sense prevailed over emotion and dreams (after 3 years - our original completion date was Nov 07!)). We have made a number of personal visits over the years sitting and asking the same questions as Tony - getting Pilar to check with her bosses etc etc - Our most recent was Thursday 8th May. 08. We too went to see our Lawyer (newly appointed and very pro-active) in the morning, following by a 4.30pm with Pilar . We had forwarded him all paperwork to study in preparation for our meeting before we left the UK. There was absolutely no doubt in his mind that SJ (as we all know now) in dire financial trouble, but please understand that this was the day BEFORE SJ declared it's true financial position! Our Lawyer was, fortunately able to get through to Jumillia Town Hall and they simply confirmed that Licences has not been paid for etc etc.and would NOT confirm that they ever would be! We had gone out with the 'hope' but a contingency of transferring to Playa Golf III. We had been communicating with Pilar (and bosses) as to this viability. They forwarded a list of properties available and arranged our meeting. We viewed properties the afternoon we arrived (wed 7th) and choose one in a perfectly acceptable position (just in case this was our chosen route). After our Lawyers lengthy conversation with the Mayor he was even more convinced that we should declare ourselves as Creditors, safeguard our money and basically stop pinning our hopes of Jumillia, take another property and protect ourselves. He thoroughly explained the Court system and its lengthy process . We went straight back to Pilar and had her draw up the Contract. We went. to the San Javier Notary the following day and we handed over Power of Attorney so that he could register us immediately SHOULD they fold. Thank god we were there at the time. That was Thursday.. on Friday out came the Costa Blanca News with SJ voluntarily declaring themselves into voluntary Administration. We were dumfounded that San Jose can sit and discuss all the positives, negotiate a new Contract etc etc (2 hours!) and the staff NOT know what was coming out in the local Papers the following morning! It simply made us even more determined to transfer to a 'key ready'! At least we have something to sell as and when we choose.. All documents have been prepared, Land Registry is approved and no problems found on our new Jazmin. Of course we are still nervous that the Court appointed Administrator will honor even this, but dreams are just that... It is not commercial sense for those of us with NO Bank Guarantee, huge deposits (I will even reveal that it is 96,800 euros!)..At a guess this would have earned some £3000 in interest here alone! The trips to check on the site alone has cost another £3000 not to mention this time cancelling our holiday to Tuscany to get some answers!. Would anyone NOT make an informed commercial decision with so much at stake.. this is not only a pension but family money! Why would anyone still BELIEVE after three years and the Banks from day one not provide a Guarantee!
I remember driving to Jumillia with our Agents (a very nice family Company who had only just listed SADM way back in October 05), falling in love with the location and happily dreaming but with feet firmly on the ground insofar as a potential investment was concerned). Then when they failed the first completion date (nov 07) followed by absolutely NO information for months and months on end. In February this year, I made yet another plea (via my Agents) for information.. They were attending the meeting at Jumillia Town Hall.. My emailed reply was "Licence NOT granted but no reason given"! ~That's when we joined for Forum.. We cant thank people enough for their postings. It was obvious that we ALL felt emotionally attached to SADM. We ALL choose to purchase there and we would have absolutely loved to continue. Personally, for the past year and a half, once past the first completion date, we got tierd of saying.. soon, soon, soon to family and friends. Joking about the fact that 'dont forget this is Spainish time we are on'. It cant happen to us? Can it? To recently 'Oh please Lord NOT US'. Everyone individually has a cut off point of trust and believing. We envy those who still do and sincerely hope it all comes true and would one day love to drive up to Jumillia and say 'we should have been patient look how beautiful it is'.. But we are not prepared to wait any longer.
So it is to all new neighbours at Playa Golf III.. Spanish Law willing.. see you at Alfie's Bar in 4 weeks!
Our heartfelt hope goes to ALL but our decision is made and can hopefully not feel sick with anxiety much longer.
Martin and Sally
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Sal
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I think you have both done a really good job but would like to ask you both the same questions.
Would you sill want you house if it comes with no facilities such as swimming pools, shops and golf courses?
While you are trying to ensure you get your house are to taking the necessary legal assistance to protect your current investment?
If the answer to the first is yes and the answer to the second is no then I think you should ensure you protect your assets first and then send letters after.
You are not taking extensive litigation against the develepers as you mention in your report you would be protecting your investment within a court appointed process that is already ongoing ; the two are very different.
I do not want me house any more but will support you in your mission just please get some legl rep too. It shouldnt be an either/or
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Tony Mal,
count us in for the letter and anything else that will help, sounds like you were busy during the visit!!
Mark & Paula
row 4-439
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mark and paula row 4 no 439
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Hi Sarah 12345 and Martin brothers,
I am not looking at this through rose tinted glasses and it states quite clearly in our report that you should ensure that your deposit is listed at the court. It is the Administrators who will then be making the decisions as to the feasabilty and way forward for San Jose projects not San Jose and being in administration all of the money is frozen and can not be moved about at present. We did ask if people could move their opption to another developement and it was said that will be up to the administrator and it may be el Pinet is the option given. I notice that the martin brothers that you still want your house but it has moved location and is a cheaper and quicker outcome than going for the deposit back..
In advance of this process being undertaken by the adminitrators we can express interest and support in SADM being completed and that would include the golf course. Would it not be better to have a body of people pushing for a project that in most probability the administrators will want to proceed with rather than pay out money and lets us not forget that the management and decisions will be by the administrators.
Regarding the delays we were all compensated and the administrators would wish to minimise these as they effect the profitabilty of any project. As soon as our solicotor gets answers to our questions we will post them on the site.
Neither of you have declared your SADM plots,
All the best to you
And...Still I want my House
TonyMal R17 18 Rosita
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Hi Tony, we totally agree and have done just that.. all documentation has been prepared for both possibilities. A transfer to a key ready on Playa Golf and also listed as a Creditor. Our Contract is designed so that we have an option of purchasing at the original price on Jumillia (on our original plot R4-491 Marbella) in the meantime we will pursue every avenue of having an actual property that is a reality on Playa Golf. Our Lawyer has given a dealine to SJ to complete which will we are still re-assured by SJ will go ahead and they are legally able to do so. Time to wait and sweat it out yet again.
Am I correct in assuming you are one of the fortunate's with a Bankers Guarantee that will be able to claim should all go horribly wrong?
We totally respect your dedication and hard work on behalf of many who are still holding on to Jumillia. We would dearly wish that this situation had NEVER arisen, but it has. We are considered reasonably educated professional people (running their own business in the UK) and, like you, do not wear rose tinted glasses. If we can help those with the dream still in tact anyway we can, we will gladly do so.
With so many local Spanish people affected by these sad events, has anyone gained any information as to what action they propose to take? Are those with BG's withdrawing or do they still believe it's going to happen in a few more years?
We sincerely wish ALL dreams come true whatever individuals wish for.
Hand on heart we would state 'We Want Your House For You Too'
Best Regards
Martin and Sally
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Sal
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Hi Martin and Sally,
No I do not have a bank gaurantee and I did ask my solicitor to get me one as a condition of me paying my deposit. Did not happen and i have paid around 90K in Euros. I think that the administrators will try to get money in and not pay it out, so they will look into the viability of the sales on their books and this is where we can have some influence.
Good luck to you both
I want my House R17 18
Tony
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Then we truely admire your faith and will genuinely raise a glass to you and everyone else who follows this path.. We would be delighted for you all.
If we can help you , we will.
Best Regards
Martin and Sally
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Sal
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There will be no further building at SADM for the next four years at the very minimum. Is there anybody out there really prepared to wait that long for an apartment/villa to be built by a rogue construction company?
There is no water for a golf course. No golf course means no houses. Get real.!
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Well done taxiparrots, if we do get a refund at least we might gain when we convert back to stirling however ,to proceed with the pound so low against the euro - losers all the way to the bank!!!
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I Now Want My House Even More, Why?
I drove up to the meeting in Birmingham being held by Irwinmitchel abagados, to hear what was going on. I was late due to problems on the M40 and I only live 45 minutes drive away, it took me over 2.5 hours to get there.
I felt the anger stress and fear of all the people in the room as I entered and I sat and listened. Now I mean I really listened and I heard the anger and fear from the purchasers but from the Abagados I heard something else. I heard tills ringing every time they smiled and spoke.Perhaps it was me but it felt like a timeshare or pyramid sales meeting
Here is the real clincher that confirms all that I have been told and have passed on to you all.
How much to get my money back? They asked for an initial sum of 2000 Euros and then 10% of your deposit. Yes 10% + 2000 Euros of your money (if you decide to follow the legal route to get your money back)
How long will it take? It could take years they said and we have to take case to Court and it may be different Courts!
Now for me this is a no brainer.
10% of purchasers deposits is around 8.5 million Euros plus 2000 x 1500 = 11.5 million.
Now would you prefer to throw that money away or get a house?
They want us to go for the money rather than standing together and supporting our development so that they can make money and lots of it.
That 11.5 million could start SADM and I would prefer to work in partnership with San Jose and help the administrators to put it on an even keel and get the projects back on track. Please remember that the administrators are trying to save the company and local jobs! They will want to realise the sales on the company books and not pay out to creditor unless they really have to and that will be resisted, hence, the cost and time frame. Lets not get fooled again, its painful but stick with plan A, the property.
Lets no forget that even after having to wait, as annoying as it is, surely it is better to have an asset rather than a bill!
So what say you?
I Want My House!
TonyMal R17 plot 18 Rosita
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Do any other purchasers who attended the Birmingham meeting today have any other thoughts on this meeting. Also are there any other purchasers who are considering signing up with any other Law firm. We are up in Scotland and have been trying to follow what is happening through reading all your comments.
billy and Irene
R10 plot 699 SADM
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Irene
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Hi
I have been quoted by my lawyer in La Zenia and the cost I have been given is 10% of the purchase price and timescale was said to be 9 - 12 months.
Kenny & Yvonne
R10 No672
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Hi All,
Yes it is a mess and unfortunatly nothing can be done quickly. The Courts have frozen the money and it takes a legal procedure to get your money back and as allways you have to pay inadvance. When I recieved the news about administration my first response was to get the money but then I thought about it very carefully. I concluded that paying someone to get my money for me rather than going for the house was not the best idea. I would not be getting back at San Jose, who yes i was very annoyed with and I would be costing myself more money possibly just because i was angry. That is why BrianMags and i went over and looked into what was going on and met people. I know that people feel vulnerable scared and very hacked off but really think before you decide what you are going to do. I listened to Maria's interview and she said that the Administrator will want to bring in income. That means complete on houses, which means building them etc. Act in haste and regret in liesure. Try not to be led into spending money to get your money back when you could of had a house. Yes this is not pleasant but the financial world is in turmoil and it has hit San Jose and us but we need to think constructivly and not just react, otherwise the only winners out of this will be the solicitors. And please when writing put your plot number so we can identify SADM purchasers
Wishing you all well
I want my House
Tony R17 18
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th very fact that they are asking for that amount tells methey are worried more about their purs strings than anything else. There is another group action going ahead on another forum where initial costs are only 250 euros and that includes the power of attorney needed. His name is antonio guillen and he is based in England too in manchester.
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Tonymal/Brianmags
Many thanks for all you are doing, the report is really helpful. I'd be delighted to join in pushing for our houses to be built :-)
I want my house too!
Sarah
Plot R19 199
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