The Unofficial Alcudia Smir Forum

Has anybody paid I've been away over xmas and only just got the contract which has to be returned in 2 days, I have just rang fadesa who tell me that the apartments that are not paid for by the 10th will have a 20 - 30% increase added onto the price to bring them inline with the new selling price

still hav'nt received mine
so why do are they setting a date when contracts are still to be sent

Have not played Poker ???

Hi, I have been given the same deadline, close of business Wednesday 10th Jan. or else risk a price rise of 20%+.

Seems crazy!! I have not received a contract yet...though Fadesa obviously know I exist coz they sent me a filofax!! Don't understand how they can impose that deadline of 10th when it seem pretty clear many clients are still in the dark over many contract issues. After all, we had to sit and wait while THEY delayed the process because of their planning problems. As far as i'm concerned I'll be walking away if there's any attempt to increase prices.
Whole thing beginning to look like a complete waste of time and effort. Pity, coz it seemed like something worth getting involved in.

We had a similar message to Pinky's from our solicitor (think we must be using the same one). This was in response to queries put to Fadesa in November - response only received last week! We have emailed Fadesa and our agent to say that we will not be signing the contract or paying any money until all the contract issues have been settled to the satisfaction of our solicitor. We pointed out that we had waited for a response from them since November and that the response received was incomplete.

We are getting fed up and quite honestly are not concerned by the threats of price increases, if they do that they will definitely lose us as buyers.

A quaint old house in a nice old town in the south of France is looking more and more appealing instead of all this hassle!

Its intresting that you say about France. After I pulled out from Kabila/Alkudia I have bought off plan in Nice, France.

The place is booming with 9 to months of student let anf holiday let in the summer.

The system very transparent and secure, no currency risk, no political risk. its all o la la

Its intresting that you say about France. After I pulled out from Kabila/Alkudia I have bought off plan in Nice, France.

The place is booming with 9 to months of student let anf holiday let in the summer.

The system very transparent and secure, no currency risk, no political risk. its all o la la

My solicitor has today received a reply from Fadesa. Basically they have said that their development is virtually risk free and that our demands are unrealistic and will be sorted out once the contract is signed and the development goes on, They cannot prove that planning permission has been granted but have sent a document proving that it is in one of the final stages. They also said in no uncertain terms that if their client does not sign they have a list a potential buyers queing up to take the unwanted appartment!! - As far as im concerned Fadesa can stick it all up their A***. I will not be bullied into signing a contract until it says in black and white what I am actually getting. They cant even produce a copy of title deeds saying they actually own the land, do they think we are stupid????

Queing up to buy? HA HA! I think people are dropping off like flies. Once upon a time AP1 was oversubscribed and now my agent has phoned me twice to offer me an apartment in AP1. No thanks! I originally reserved on AP4 then I was offered AP5 - haven't heard anything about anything except via this forum. I'm sure tomorrows deadline will pass and nothing will happen as have all the other deadlines that have come and gone.

I am being pushed to sign today - then, this morning, I get a phone call and email saying my allocation has been changed (still AP1 but one row back - nearer the pool but further from the beach...)

I am waiting to hear back from my solicitor as Fadesa say that they are happy, just wish my solicitor would tell me that!

They also say it's their year end and that they need the contracts and the monies to meet their year end deadlines.

I'm not entirely convinced by this anymore.

Alan

Hi everyone,

The forum is awfully quiet considering many of us are deliberating whether to buy or not.

So far we have heard that Grace and Co have advised their clients to send their money but not to sign the contracts.

CBA Law have advised their clients not to send their money and not to sign the contracts.

Has anyone heard from any other solicitors?

I don't think we should allow ourselves to be bullied by Fadesa. They are playing their own dirty game. Do you really believe that they are phoning a long waiting list of eager investors? It's all part of the game plan.
Anyone investing in Morocco will have spent time researching on google. Chances are that they would have come across this forum and will be well aware of the issues you all have raised.

Regarding the contract, be careful, the english translation is not an exact translation.

Fadesa does not specify the area of the apartment, the area of the terrace or the area of the gardens for those buying on the ground floor.

This is just one example, there are many more.

Sabrina there is a pm waiting for you.


Riaz

Riaz,

Welcom to the forum, nice first post

Demand is greater than supply with this one, which has made certain problems worse, but what made my mind up with this one was :

a) advice from Grace and co solicitors who were reccomended to use, they foresee no real problems.

b)Fadesa is not a tin pot outfit.

However decide yourself !

Hi Jason,

If you are with Grace and Co, then you have probably sent your money but not signed the contract?

Are you completely happy with the contract. Have you had it translated? Do you know exactly what you are getting for your money, DOES IT TELL YOU IN YOUR CONTRACT?

IT DOESN'T IN MINE! NOT EVEN THE EXACT SQUARE METERAGE. I'm guessing that it doesn't in yours either. I want to know exactly the area of my internal space and my external space. I am sure those buying on the ground floor would want to know the size of their gardens if the want to add a jacuzzi in it.

My contract only gives approximate coverage of the total. Well approximate means it is not exact and that may be anything.

It is usual to say in a contract that the internal will be at least ##sqm, the terrace at least ##sqm and the garden if applicable at least ##sqm.

However most contracts give exact values as they have an architects plan with them on.
Its not difficult to get it right.

Riaz