All Quiet On The Kabila Front?

[the kabbie]

The forum has gone quiet. What's happening with revised plans, allocations and contracts????

[Curly]

Hi

I am fairly new to the forum, we are in the process of buying a place in AP1. The new plans look OK for us but we are being pressured to sign by the end of this week. Our solictor hasn'y replied to us yet so we may not make that date. The rumour about Fadesa looking to seel 80% to one company doen't sound too good, has any one else heard anyhting about this?

Cheers
Curly

[the kabbie]

The contract I have seen is with "Company Residences du Soleil S.A." I have asked my solicitor to verify who they are and their relationship with Fadesa - as yet no response.

[Curly]

Thanks, Same here, My covering letter from Fadesa advises me not to mention the name of Fadesa when making a payent into the account they quote but to state the name "Company Residences du Soleil S.A."

I think it is normal practise for a large company to set up a separate entity for a particular project but i am awaiting a response form my Solictors (Grace & Co.) before proceeding.

cheers

[mcneilee]

Anyone got the new plan of ap1 with the block No's . If so could you post it thanks

[Curly]

This is a scan of the AP1 plan I received in Dec.06,hope this helps

[Curly]

Hi, sorry I am having trouble uploading my scanned map.

The layout has changed to include 18 blocks in AP1. Blocks 1 to 6 running south west to north east at the rear of AP1 (furthest from the beach). Blocks 7 to 12 running from south west to northeast in the middle row and blocks 13 to 18 at the front of the block (nearest the beach), the pool is between blocks 8 to 9 and block 11 to 12.

Cheers

[mcneilee]

thnks curly. Man looks like they have moved the block i had booked into the wee crapy overcrowded part. Might have to look eles where now. This has been a real pain

[1frenchy]

I just receive the new plan of ap1 on behalf of an English agent.
i have try to localize my apartment and i have realise that my block has exchange of place.
i contact FADESA which they confirm that the numerotation is false.

Beware before taking your decision

I m sorry the plan is to biger i cannot browse it

[Pinky]

Hi, Happy New Year. Just back from Mauritius from my hols. My solicitor has been in touch regarding the contract. This is basically was they have said -

1 Residences du soleil is the spanish representative dealing for Fadesa. Proof is required that Mr Santiso is authorised to act on behalf of Fadesa.

2. Proof of ownership of Land is still required and will be forwarded asap from fadesa

3 Community docs/ co-ownership docs will be prepared nearer completion

4 Completion date is required, which Fadesa has said will be 18 months from commencement of digging. My solicitor says this is not satisfactory as the risk being the build may take 10 years and you would have no resourse against Fadesa and would be bound to continue the purchase. A clause should be added that we would get a full refund if the property isnt built in say 2 years from sign this contract.

5 A Fee of 3000 euros will be payable if we wish to sell before completion.

6 A quality charter is required

7 A Bank guarantee is apparently in place, but we have to write to Fadesa to request a copy this each time a payment is made

8 Fadesa have still not stated whether the property will be supplied with gas elec and water etc

9 Construction is due to commence in the next 4 weeks !!

[shak]

Hi Pinky,
I hope that you had a good holiday & a happy new year. As you all know that I pulled out some time ago but for my knowledge i keep on logging.

I would like to add to your points under there respective number.

1) What does Spanish representative means ?? Project management, Selling Agents, Has Fadesa sold the project on to them. etc, etc. As you may not know that Fadesa sold a part project in Calahonda to one investor, who later pulled out and to the best of my knowledge Fadesa is stuck with the indivual buyers are stuck.

2) The north of Morocco during its pre/post occupation by the Spanish there are no reliable records. In future some one could claim on the land. In most countries you can get an Insurance for it. I dont think Fadesa will go down this route as they are already doing you a favour by selling to you.

3) Why not now ? why manana.

4) in addition to the clauses, a prorata compensation clause should also be inserted.

5) Normal for Fadesa.

6) No comments, you will be lucky to get it.ITs not norm in Spain or Morocco to the best of my knowledge.

7) You will never get a reply nor the guarantee. Why cant they do a diminshing guarantee where every phase completed reduces the guarantee. So at the out set they give you 40%, so when the foundation is done it becomes say 30%, where roof are done say 20% etc.

No comments.

9) Havent we been here before.

I hope it helps

[Pinky]

My mistake,sorry, building work will commence within 4 months NOT weeks. I have told my solicitor that I will NOT be signing any contracts unless they are 100per cent happy deadlines or not. They are now dealing with Fadesa direct as I have had enough being a go between ! My patience is running thin and am thinking of other things to do with my 60k