Have you reserved at Gran Natal Golf? - Page 14

deedee1 · #**131** 23-05-2008, 09:10 AM

Hi all,

Thats the whole point of a forum for open debate, discussions and everyone is entitled to their own views and opinions.

Just unfortunately most of these forums can turn into battle zones so quickly often from the odd agressive or personal comment and before you know it things spiral out of control thats all.

I appreciate everyones comments and contributions on here so keep up the good work as the brazil forum is a very interesting , friendly, lively and active forum which many have found to be filled with knowledge and information and Im sure has proved to be PRICELESS to many people out there!!

Take care all- Happy posting!!!

d

JMBroad · #**132** 23-05-2008, 09:23 AM

Quote:

Originally Posted by Raimundo

Thanks Lisa... and sorry if my post came across to harsh. I just wanted to know what exactly what you are selling here. In regards to Mr. Broad and his comments, I'm pretty much retired and my Forum is a hobby, nothing more, and frankly, I don't need any more business, I have enough already. And the hyperlinks in my sig, well, it's open space so I'll fill it in just like the other 'Premium Agency Members' as we are called. I did not come on this Board to agree with all you guys, nor to disagree either. And I feel a person in Lisa's position should be expected tough questions and that is simply part of the game. The fact that Lisa is a long time poster, ok, so she deserves more backing. But Newbies should be able to ask the hard questions. And again Lisa, I appreciate you responding, but consider it part of the game of real estate.

Fyi: My Lending is mostly local, that said, gaining anything here was not my motivation and not the reason why I opted to join this Forum. If anything, I joined to try and warn others to not make the same mistakes we did. I'm giving of my time here, nothing more, nothing less and I'd like to think that we are pro-active. That said, we (I and my partner) was scammed in Colombia via one agency and we wrote a book about it. That said, if you get taken, don't get mad, get even and write a Book-that is what we did.

Thanks again Lisa and I wish you the best in your endeavors.

Cheers

No worries, Raimundo

Was the "english grammar" bit which got my back up - don't mind one iota about who is where to earn what. I'm on here to watch for smoke of what could potentially bring interesting news when proven to the investor clients where I work too, so we all have an agenda, whether for personal or professional gain.

And newbies or oldies can ask many a tough question, but they do open you up for some to be asked of you as well, nothing more

JMBroad · #**133** 23-05-2008, 09:30 AM

As expected the JPEg's were the Registo de Incorporaçao which Manzanares checked so yes, Galatea has a license now.

Cam101 · #**134** 23-05-2008, 01:53 PM

Quote:

Originally Posted by JMBroad

As expected the JPEg's were the Registo de Incorporaçao which Manzanares checked so yes, Galatea has a license now.

Mr Broad

Just to confirm is this the full, stamped, signed, sealed and delivered license which means that the properties will be built with no further licenses, permissions etc required? If this is the case then should we assume that all licenses will be granted for the other phases of this stage i.e Miltonia, Solanum and Marginata within the guarantee periods? If again this is the case, anyone looking to pull out will loose their reservation fees and it will not be worth paying the extra 1500 euros required by certain legal companies to make provision for Spanish power of attorney etc in the event that the 12 month guarantee expires and execution of the guarantee becomes an option?

It would be interesting to poll buyers at GNG on pulling out? / staying in? and reasons why. A new thread maybe? I also understand from the legal people that contracts will not be with Grupo Sanchez. I haven't seen this mentioned on here so would ask if anyone has any info on this?

Cheers

LisaNic · #**135** 23-05-2008, 02:04 PM

Quote:

Originally Posted by Cam101

Mr Broad

Just to confirm is this the full, stamped, signed, sealed and delivered license which means that the properties will be built with no further licenses, permissions etc required? If this is the case then should we assume that all licenses will be granted for the other phases of this stage i.e Miltonia, Solanum and Marginata within the guarantee periods? If again this is the case, anyone looking to pull out will loose their reservation fees and it will not be worth paying the extra 1500 euros required by certain legal companies to make provision for Spanish power of attorney etc in the event that the 12 month guarantee expires and execution of the guarantee becomes an option?

It would be interesting to poll buyers at GNG on pulling out? / staying in? and reasons why. A new thread maybe? I also understand from the legal people that contracts will not be with Grupo Sanchez. I haven't seen this mentioned on here so would ask if anyone has any info on this?

Cheers

Hi Cam

The combined documentation that has been received means that GS in theory have everything they require to push clients to Private Purchase contract on Galatea. However, given the situation with GS at the moment (ie them being in voluntary administration) the lawyers will be requesting a further bank guarantee for the next stage payment incase GS financial situation worsens. The lawyers will advise clients NOT to sign the contract until this security is in place.

As per my post from yesterday I have been advised by the lawyers that as the license has now been granted on Galatea, it is expected that the licenses on Miltonia, Marginata and Solanum will be granted within a 4 week period. If the licenses are granted on your block before your contracts expire, then your Bank Guarantee will no longer be valid and your reservation deposit becomes non refundable.

With regards to how many buyers are looking at pulling out I can advise from the personal communications I have had that 70% have made the decision to pull out and invest in an alternative project. 10% have decided to pull out altogether and not re-invest at this time. 15% are still unsure and 5% have advised they will continue with the purchase if all licenses are received.

I hope this helps, let me know if you have any other questions.

Regards

Lisa

JMBroad · #**136** 23-05-2008, 02:16 PM

Lisa spoke to Manzanares who advised her that all legal requirements have been filled by Grupo Sanchez to build Galatea.

Timatthebeach sent me copies of the documentation which he received from Grupo Sanchez. While I'm not a lawyer, I have seen many copies of licenses in Brasil as we don't market anything unless we have copies of all legal documentation on file in our offices as well as a written confirmation by an independent law firm in Brazil confirming that the documentation all checks out.

What Tim sent me this morning was the Registo de Incorporaçao. A developer can only receive this document once all other legal requirements have been approved. According to Brasilian law, only once the developer is in posession of the Registo can they make sales.

While the Registo itself is not a guarantee the development will be built according to the marketing material (that requires a whole different set of checks) it is a very good indication that the development is legally sound.

In my experience dealing with these papers it sure looks real enough but no I haven't personally verified the authenticity. Given that Manzanares are stating that it is legal then I am sure they will have checked its authenticity.

So in answer to your question, yes it is the license that Grupo Sanchez require to prove that they haven't defaulted on their contracts with regards to Galatea. While it is no guarantee that the other three phases will get their licenses, it is a huge step in that direction.

Cam101 · #**137** 23-05-2008, 02:43 PM

Quote:

Originally Posted by Marben

Hi Cam

The combined documentation that has been received means that GS in theory have everything they require to push clients to Private Purchase contract on Galatea. However, given the situation with GS at the moment (ie them being in voluntary administration) the lawyers will be requesting a further bank guarantee for the next stage payment incase GS financial situation worsens. The lawyers will advise clients NOT to sign the contract until this security is in place.

As per my post from yesterday I have been advised by the lawyers that as the license has now been granted on Galatea, it is expected that the licenses on Miltonia, Marginata and Solanum will be granted within a 4 week period. If the licenses are granted on your block before your contracts expire, then your Bank Guarantee will no longer be valid and your reservation deposit becomes non refundable.

With regards to how many buyers are looking at pulling out I can advise from the personal communications I have had that 70% have made the decision to pull out and invest in an alternative project. 10% have decided to pull out altogether and not re-invest at this time. 15% are still unsure and 5% have advised they will continue with the purchase if all licenses are received.

I hope this helps, let me know if you have any other questions.

Regards

Lisa

Wow so if these figures where an accurate cross section of all buyers, there could be 95% of clients that stand to loose their reservation fee? That's massive!! What happens to the project if this is the case? Do they (whoever they end up being!) bank the reservations and start again with the next lot of clients on the premise that licenses have been granted as the new marketing tool?

KDJX · #**138** 23-05-2008, 02:59 PM

Quote:

Originally Posted by Cam101

Hi Deedee

I am confused! I am being told that I need to pay 1500 euros just for bank guarantee retrieval fee through Manzanares whereas both you and Lisa (Marben) have a figure of 500. Could you let me know who you are dealing with so that I can try and get a straight answer please. Also who are the Brazilian lawyers you refer to?

Thanks
CAM

Oh whoops. Just recieved an E mail form Manzanaries. They HAVE made a mistake. They should have asked for 1500 Euros's not 500 Euros' surprise surprise. So Confused Cam101 the person you spoke to was correct and the person Lisa is in contact with clearly does not have the full picture ..will this farce ever end ?

#**139** 23-05-2008, 06:04 PM

Hi Lisa -
Sorry about the off topic stuff. That said, this is your dedicated thread so I'll stay away unless it pertains to your topic. And Deedee-thanks for the note to stay on topic.

Quote:

Originally Posted by JMBroad

And newbies or oldies can ask many a tough question, but they do open you up for some to be asked of you as well, nothing more

Mr. Broad, fire away sir... I have nothing to hide unlike some other posters who don't respond to questions, Doug Simon is one. However, since the bulk of my business is local, my motivation to answer questions is not top priority--but I'll do the best I can. Like I said, I joined this Forum to warn others, period. My investment group got screwed in northeast Brazil and the only recourse I have is to warn others via the internet and this Forum is the best place. Plain and simple-this is my main motivation here.

TotallyProperty.com: The best site for real estate abroad and I'm glad to be apart of the best Brazil real estate Forum on the web.

-Thanks

Dotty · #**140** 25-05-2008, 06:47 PM

Sounds like being at a funfair in Brighton!