The Unofficial Alcudia Smir Forum

I was hoping to rent my villa in V1 but have actually been approached by a buyer. Could some of you please tell me if you consider prices have gone up or down over the last couple of years. I paid 2011 prices. I am not on the spot to chase up the For Sales signs to find out. Many thanks.

I would imagine the prices have gone up, however I hear that there is problems with people getting their money out of Morocco (the investors who have sold). From my investigations, it seems the money is with the notary but has not been transferred over to them in the UK/Ireland. I would therefore suggest that you collaborate with a law firm in your own country that does international law and have offices in Morocco so they can transfer the funds across to their client account for you...etc.

Also if you want to sell, I would assume that during Summer is the best time when the Moroccans are on holiday.

Let me know how you get on.

also do you have your repatriation certificate? you will need this before you can transfer any funds from morocco to your country....

Also please note that there are several issues with selling it seems and if I were you, I would seek guidance from investors WHO HAVE SOLD AND GOT THEIR MONEY HOME....before you sell

"It appears that for the moment, their money is being kept by the notary until they can each provide evidence that the monies, that is, the 40% deposits that they paid into Fadesa's spanish bank account between 2007 and 2009, were well and truly deposited into a Moroccan bank account.

In order to do this, they have to persuade Addoha to provide hard evidence to the notary of each and every bank transfer. It appears Addoha can't or don't want to provide this kind of proof! Several letters and messages have been sent to Addoha's Head Office in Casablanca, but they have had no reply whatsoever. It appears the notary does absolutely nothing to help things along...."

I am trying to find out additional information so will keep you posted.

OK, great thanks very much for the update!

Interesting Igbinael..I am now in Alcudia Smir. I saw a dirham bank statement with various owners' deposits including my own from Addoha/Fadesa a few years back. This was because the developer said that I owed money to complete the sale. Luckily I had the foresight to get formal receipts for monies paid. I explained that they must prove that I had not paid because I was able to prove that I had paid. Hence the bank statements were shown to me. I cannot remember if I have copies or if they showed them to me in the office. It turned out that there was a problem with monies transferred because it all turned up in Morocco in a lump and they had to sort it out by what owners had paid.

Hi Sandra, have you received your certificate yet? I will follow up with the 2 investors i spoke to to see if they managed to get their monies back to their country...