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Oceanville

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john2604smith View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote john2604smith Quote  Post ReplyReply Direct Link To This Post Posted: 26/June/2012 at 10:04
What a shame, lovely complex in a fantastic location Unhappy
ownersdirect P3708
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J2me View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote J2me Quote  Post ReplyReply Direct Link To This Post Posted: 26/June/2012 at 20:36
Ouch! That hurt..... It needs to be sorted. To see the vested interests promote and/or approve new developments that are only going to cause damage to the economy in the short & medium term - while this top notch facility sits idle, in desperate need of the TLC and investment that owners are willing to provide - seems perverse.

The longer this goes on, the greater the number of owners who cannot complete due to radically changed circumstances (not of their own making either) will become.
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Jayjan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jayjan Quote  Post ReplyReply Direct Link To This Post Posted: 26/June/2012 at 22:02
J2me apparently the builder is having problems borrowing money to complete it after winning a case to have their planning altered. (maybe they are now defunct, who knows) Jocelyn forum member she posts on here occasionally has actually invested in this place. Read the whole story, I think you have actually posted on this thread previously
Polli the dancing cat strikes again.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jamieandanne Quote  Post ReplyReply Direct Link To This Post Posted: 27/June/2012 at 09:21
I also noticed 5 or 6 shutters had been forced on the ground floor yesterday.  Thieves, squatters?!!!
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J2me View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote J2me Quote  Post ReplyReply Direct Link To This Post Posted: 27/June/2012 at 19:42
Your right Jayjan, I have posted on OV before. While it is built at the top of the hill overlooking the old town, and as such a bit OTT (as in a dominant feature), they are intended to be a quality development, adding value to the whole town.

Rumour suggestS that the habitation licence has been granted. One would have assumed that was the last serious hurdle because it would never have been granted if there was any doubt about matters such as title or outstanding planning infringements, etc.

Assuming that the developer has mortgages registered against the individual properties (as is normally the case while they still own them), one would imagine that the banks would be eager to assist the developer in off-loading those same properties to promissory buyers.

Since there has been zero movement that we know about, I am assuming that there is still a problem. Perhaps an outstanding judgement against a stakeholder or perhaps the habitation licence has not been granted. We really are in the dark about it - but so are the promissory buyers.

Having had our own property purchase delayed for a few years, I really feel for these people who have invested significant amounts. Hence, it needs to be sorted. I don't see any champions willing to make that happen though.....
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Jocelyn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jocelyn Quote  Post ReplyReply Direct Link To This Post Posted: 07/July/2012 at 23:25
i've not heard a peep from my solicitor since january and don't see the point in emailing her because she never had any news and keeps telling me that she will be in touch when she has. awful really that we don't even get one communication a year from the developer...c'est la vie or should i say 'que é a vida' Smile

as i've already said, sesimbra won their case for their planning application, but the 3 banks involved aren't lending....their last loan application was filed in Dec 2010 and was turned down...our solicitor saw this....so no funds to get the complex up and running

will post if i hear anything....


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J2me View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote J2me Quote  Post ReplyReply Direct Link To This Post Posted: 09/July/2012 at 21:16
Jocelyn, that one loan might have been turned down because the bank valuation was considerably lower than the purchase price, so much so that the promissory buyer could not bridge the gap. I have seen several cases of this happening and it then becomes an very difficult battle for the buyer to reclaim their deposit, even with the extra clauses inserted in the promissory contracts. The buyer is entitled to their refund but the developer is in no hurry to oblige, even if it can be afforded.

Has anybody actually established for definite if the habitation licences were actually granted? Because it is a matter of record, it only requires an enquiry at the planning office to confirm the status.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jocelyn Quote  Post ReplyReply Direct Link To This Post Posted: 09/July/2012 at 22:51
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jocelyn Quote  Post ReplyReply Direct Link To This Post Posted: 09/July/2012 at 23:02
thanks J2me :)
I have an email from my solicitor saying that the habitation licence was in place....but that the tourism licence had expired, sure that was 3 years ago. another chance of getting our money back is if sesimbra are declared bankrupt and i go to court and claim my refund from their seized assets.  i have no idea how many creditors would be lining up for their money in that scenario! and it's not in the banks interest to declare them bankrupt as i think they would have done so by now.
since this saga started, our solicitor say it would be take years to resolve....6 years this year since we should have signed deeds...long time eh!
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KateJulian Quote  Post ReplyReply Direct Link To This Post Posted: 16/August/2012 at 20:51
Hi everyone. My boyfriend and I put down a deposit for an apartment and have virtually given up hope of ever seeing the apartment or our money ever again!!! We haven't actually got anything official saying that it hasn't complete or explaining the current situation with it. We are looking at changing mortgage lenders to try and get a more competitive rate, but we are struggling with trying to prove the situation with Oceanville as it is classed as an 'asset' despite the fact that it has never completed. Does anyone have any letters, emails etc... saying Oceanville hasn't complete or similar?Nightmare!!! Any help would be greatly appreciated...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jocelyn Quote  Post ReplyReply Direct Link To This Post Posted: 16/August/2012 at 22:17
Hi KateJulian....welcome to the forum :)

As you have already read, I have tried to give any updates about Oceanville. If I hear anything from my solicitor, I always put it up. 

Oceanville has not completed. Can your Portuguese solicitor put something in writing for you to show to your bank? If you took out a loan for the deposit of say 40k in Portugal, are you saying that you don't have any repayments left on this loan. You should request a statement from your bank confirming this. or if you used personal savings for the deposit, I don't understand why you would have this issue.

Maybe I'm stating the obvious, but when you are taking out a mortgage, you usually have to give 6 months bank statements...so surely any monthly mortgage repayment / personal loan repayment for Oceanville would show up and as you don't have a loan repayment, I don't understand why your bank have asked for information about oceanville. 

Just an idea, go to a broker...chat with him about your situation and start the mortgage process over again with a different bank?

I might have mis understood your situation....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KateJulian Quote  Post ReplyReply Direct Link To This Post Posted: 17/August/2012 at 08:47
Hi Jocelyn, thanks for your reply! The bank have requested a letter/email from our Portuguese lawyer to confirm that Oceanville hasn't complete but the lawyer who dealt with our purchase of the apartment seems to disappeared! She hasn't responded to emails and when we googled her she was no where to be found - hence I was asking if anyone has any letters, emails confirming that Oceanville hasn't complete.

With regards to looking at different mortgage lenders, it's a bit more complicated than I made out as we only have the option of literally one or two lenders as I own an apartment in the UK as well to complicate matters and I have also just given up work as we have not long had a baby so with the current lending situation in the UK there are only few lenders who will look at us. I hope this explains the situation a bit better! I have googled Oceanville for hours trying to find something that says it has never complete but other than this forum there really isn't anything!
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Jayjan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jayjan Quote  Post ReplyReply Direct Link To This Post Posted: 17/August/2012 at 09:59
Could you not contact (or maybe visit would be best if possible) Albufeira Camara (town hall) to see if they can help, surely their planning dept must have records of the development & its demise. Or maybe contact another lawyer who could sort the problem out for you.
Polli the dancing cat strikes again.
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Jocelyn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jocelyn Quote  Post ReplyReply Direct Link To This Post Posted: 17/August/2012 at 10:05
i was just about to suggest the camara aswell jayjan as they definitely would know. also the british / irish embassy?!

my solicitors details are:

Suzana da Silva
Advogada - Lawyer
 
Suzana da Silva Law Office
Encosta das Oliveiras nº 13
8125 - 481 Vilamoura
Portugal
www.suzanadasilva.com
 
Tel: 00351 966554004
Fax: 00351 289314451
Skype: suzanadasilva

I'll have a look over the weekend at my emails from Suzana and if anything specifically states that oceanville has not completed, i'll pm you to arrange sending you a copy....
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Jayjan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jayjan Quote  Post ReplyReply Direct Link To This Post Posted: 17/August/2012 at 10:18
Katejulian the email for the British Embassy (Consulate) for the Algarve is
bc.portimao@netcabo.pt       put FAO of Clive Jewell as your header he  is the British Consulate, I am sure he will try to give you good advice.
There is also this weblink http://ukinportugal.fco.gov.uk/en/about-us/our-consulates/algarve/contact-us 
Polli the dancing cat strikes again.
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