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corralejo bungalow 500 auction euros

Bungalow auction in Corralejo from 2,500 euros
#1
Not the usual ad for sale but I came across an interesting article @ NoticiasFuerteventura and had to share:

As published today by the digital of La Provincia, the administrator of what was one of the most powerful real estate agencies in the entire state is trying to liquidate part of the stock he has on the island of Fuerteventura.

In this case it is part of the Atalaya Dorada complex, which in its day was composed of 236 bungalows, 25 isolated villas, 28 terraced villas, plots for two hotels, a commercial area and a golf course in an area that still has no access defined is completely abandoned in the high part, to the north, of the dunes of Corralejo.

The project was partially completed. Buildings were built for housing or tourist use, but the urbanization was left out of planning and without municipal permission, so a group of buildings also remained outside the planning.

The idea of the project was to generate a community of around 2,000 people in a first-class natural site, next to the beaches of Corralejo and around a large 18-hole golf course. The hotels would be managed, according to the original idea, by Barceló. In the liquidation process, the bankruptcy administration put on sale in 2017 the land that it had in the area with a value of 32 million euros.

The heavenly place was one of those included by Fernando Martín when he filed the 1,576 million lawsuit against Manuel Jove for an alleged overvaluation of the assets when he sold the company. Specifically, it attributed a surcharge of 4 million in the Golden Watchtower. The courts ruled in favour of the Galician businessman.

Auction with an initial value of 2500 euros

Part of those bungalows, specifically 57, go on auction now and until December 26 with an initial value of 2,500 euros. But homes lack a habitability cell, so the possibility of their legalization is very complicated.

They are not covered by the city council of La Oliva, so, in addition, it would not have basic services, such as garbage, or street lighting.


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#2
Great opportunity but a definite no no with the planning situation. The government should get this sorted out first & then sell them off. There are plenty of people who would take a punt then, probably me included. Too much of a risk as it stands though !!
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#3
(13-12-2019, 06:59 PM)Spitfire58 Wrote: Great opportunity but a definite no no with the planning situation. The government should get this sorted out first & then sell them off. There are plenty of people who would take a punt then, probably me included. Too much of a risk as it stands though !!

Over 50 villas, I'm sure the owners will try to get it sorted. The questions are "How long" & "How much". One way or another, it is interesting case, will be hard to resist.
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#4
Found the link to all of them. If you can't see the villas, open the link in new private window.

https://martinsafadesaliquidacion.es/ubi...municipio/




Criterios-A-B-y-C-SN12.pdf translated:

Quote:Criterion A (Soils): After the sale of most of the land assets, according to
with the criteria and direct selling prices for the group of assets A1, which
established in the Liquidation Plan approved by the Court (Phase I), it has been
obtained information on the process that allows establishing ranges of value in relation to
at the potential target price for quick sale or auction, depending on the area
geographical, current situation of maintenance or development of assets, demand and
offer of products with similar characteristics in the area, etc., other than those
they would obtain in continued management of them by the creditors, following the
philosophy raised in the liquidation plan of the Company that would allow to preserve
value for them in the future, as evidenced by third-party valuations
independent that are part of the report of the asset of the AC in relation to the
Contestated These hypotheses to determine the minimum auction exit price of
each asset has also considered the requests for information and the
potential investor interest in the different assets, conditions and
own parameters of the asset, and recent transactions in the area (real demand to
the current date) where appropriate.
Criterion B (Stock): After the sale of most of the stock assets
(finished product), in accordance with the criteria and direct selling prices for the
group of assets A1, established in the Liquidation Plan approved by the Court
(Phase I), information on the process that allows establishing ranges of
value in relation to the target potential for quick sale or auction, depending on the
location, current conservation status, type and use of the asset, demand and
offer of products with similar characteristics in the area, etc., other than those
they would obtain in continued management of them by the creditors, following the
philosophy raised in the liquidation plan of the Company that would allow to preserve
value for them in the future, as evidenced by third-party valuations
independent that are part of the report of the asset of the AC in relation to the
Contestated These hypotheses to determine the minimum auction exit price of
each asset has also considered the requests for information and the
potential investor interest in the different assets, conditions and
characteristics of the asset, the maintenance costs generated by the
in competition, the sales price market surveys published in the area, the
recent transactions (actual demand to the current date) where appropriate, and the situation
Current market in the area.
Criterion C (Others): After the sale of these assets, according to the criteria
and direct selling prices for the group of assets A1, established in the Plan of
Settlement approved by the Court (Phase I), process information has been obtained
which allows to establish ranges of value in relation to the potential sale potential
fast or auction, depending on the geographical area, current conservation status or
asset development, demand and supply of products with similar characteristics
in the area, etc., different from those that would be obtained in continuous management of
themselves by the creditors, following the philosophy outlined in the liquidation plan of
the Company that would allow preserving value for them in the future, as
the assessments of independent third parties that are part of the report
of the assets of the CA in relation to the bankrupt. These hypotheses to determine the
minimum auction price of each asset, have been taken into account,
In addition, information requests, conditions and parameters of the
asset, taking into account that, these assets, in general, do not have the use of
real estate and dominant product in that location, and therefore transactions
Recent are scarce or null on assets of similar characteristics.


MF-Pliego-de-condiciones-SN12-VF-notaria.pdf translated:

Quote:TENDER OF TERMS OF TENDER OF SALE IN
NOTARIAL PUBLIC AUCTION OF ASSETS AFFECTED TO SPECIAL PRIVILEGE OF
MARTINSA FADESA, S.A. ON SALE
This document contains the specific conditions that will govern the Notarial Auction of
Martinsa Fadesa S.A. in Liquidation (hereinafter Martinsa), which is carried out in execution of the
Second phase of the program for the realization of assets and rights of your Liquidation Plan:
Settlement operations aimed at the realization of assets subject to special privileges
to attend to these credits. This Settlement Plan has been approved by Order of 29 of
September 2015 dictated by the Commercial Court number 1 of A Coruña, confirmed
By Order dated April 18, 2016 of the Provincial Court of A Coruña and adapted to the
provisions of Chapter V of Title VII of the Law of May 28, 1862 of the Notaries, by
Order of the Commercial Court No. 1 of A Coruña dated December 1, 2016, having
published by Edict in the Public Bankruptcy Registry the resolution approving the
update of the rules common to any notarial auction process.
In accordance with said Liquidation Plan, the auction includes a series of assets
real estate affected by special privilege (mortgage charge), of which, after the sale process
direct published on the contest website (www.martinsafadesaliquidacion.es) and on the Board of
Announcements of the Commercial Court No. 1 of A Coruña, no offers have been received for the minimum price
set in the lots made. Likewise, an agreement that allowed the
award in payment with the mortgagee, in accordance with the provisions of the Plan of
Settlement.
The Notarial Auction is governed by the particular conditions detailed below, fixed
in accordance with the provisions of the final Liquidation Plan of the reference bankruptcy
and in the approvals of the same, and, in the not foreseen in the same, by the conditions
General of the notary auctions contained in the aforementioned Chapter V of Title VII of the Law on
May 28, 1862 of the Notaries and, on an additional basis and provided they are compatible,
by the provisions of the procedural legislation on electronic auctions (especially
rules established in the Civil Procedure Law on the development of the auction and in the Royal
Decree 1011/2015, of November 6, which regulates the procedure to formalize the
consignment system in electronic headquarters of the quantities necessary to take part in
judicial and notarial auctions).
In compliance with the Liquidation Plan, these particular conditions are published and
informs people who wish to participate in the auction that the realization of a bid or offer
it implies the acceptance of them in all its extremes and the assumption of all
obligations that are detailed in them:
➢ The auction will be notarized and will be held before the Notary of A Coruña Don Francisco-Manuel
Ordóñez Armán / Don Víctor-José Peón Rama. ➢ The auction will be held electronically and will take place in the Auction Portal
dependent on the State Agency Official State Gazette (hereinafter, “Portal de
Auctions ”) located at its electronic headquarters (auctions.boe.es).
➢ Each asset will be the object of a single auction.
➢ The bidding conditions of the auction will be available to those interested in
the aforementioned Auction Portal and in the office of the authorizing notary located in Durán Street
Loriga, number 11, of A Coruña during the opening hours to the public of the same.
Likewise, it will be published in the Notice Board of the Commercial Court No. 1 of A Coruña.
➢ All assets to be auctioned are encumbered with mortgage charges and some of
They present other charges.
However, according to the Order of the Provincial Court of April 18, 2016
Confirmation of the approval of the Martinsa Liquidation Plan: 1) The embargoes and
other registered charges of a non-real nature will be lifted at the time of
realization of the good, so that the transmission is perfected and free of them,
serving the self-approval of the qualification liquidation plan so that the
corresponding records cancel all pre-sale cargo without the need for a
specific judicial resolution to that effect. 2) Prior to the formalization of the
deed of sale in favor of the successful tenderer will be granted by the entity of
credit (creditor with special privilege) letter of payment and cancellation of the mortgage that
The property awarded is serious.
➢ The updated information on all the goods subject to the auction is found
available on the contest website www.martinsafadesaliquidacion.es.
The list of assets that make up each of the lots to be carried out is listed in
the one identified as AUCTION DOCUMENT  attached, which contains a
Brief description of each registry farm, its geographical location, its percentage of
ownership in case of proindiviso, an estimate of expenses to be assumed by the buyer
which includes the amounts that, where appropriate, are due for IBI concepts,
fees, community of owners and other similar concepts, as well as prices
minimum sales set by the Bankruptcy Administration.
➢ Real estate assets will be transferred as a true body. With the presentation of the
bid, the bidder declares that it has sufficient information about the lot with respect to the
Which has submitted your offer. Likewise, it will be understood expressly accepted by the
Tenderers the physical, legal and urban state, in which the good is found in respect of which it has presented its offer, as well as the place, exonerating the Administration
Bankruptcy of any responsibility for these purposes and expressly waiving the action
for hidden vices.
➢ The following will be the exclusive account of the acquiring bidder:
a) the expenses derived from the award, such as the notarial expenses that are
accrue on the occasion of the formalization of the Public Deed of Sale and the Minutes
Auction, including expenses and supplies arising from the holding of this
last (publication in the BOE, cost of domain certificates and charges of the / s
foreclosed property (s) and other expenses associated with the realization), the expenses derived from
the inscription in the Public Registries, the expenses derived from the cancellation of the
registration charges and entries of all kinds, as well as the registration fees of
regularization of successive tract and outstanding amounts that may exist.
b) the outstanding amounts that may exist in favor of the Communities of
Owners and taxes (IBIs, mainly) previously accrued
as of March 6, 2015 that could respond with the property acquired in
claim case.
Payment of the Property Tax (I.B.I.), as well as other taxes of the
year of granting of the deed of sale shall correspond to the
tendered until the date of its formalization, corresponding to that
day forward to the buyer side.
The corresponding amounts for these taxes from the year 2016 to the day
of the formalization of the deed of sale, they are considered as
credits against the mass and will be attended by the bankrupt, in accordance with the
established in article 84.3 of the Bankruptcy Law.
c) All indirect taxes on the transfer of real estate, including
expressly the payment of the Tax on the Increase of the Land Value of
Urban Nature (hereinafter Goodwill) that assumes as foreign debt.
In guarantee of the obligation of payment of the Goodwill, in case of being awarded and
no later than the date on which the deed of sale is granted,
undertakes to grant bank guarantee or formalize notarial deposit unavailable by the
amount of goodwill in favor of the bankrupt, which will remain in force until the
date on which payment is credited.

To the extent that Martinsa Fadesa is the taxpayer of this tax according to the Law
General Tax, the company in bankruptcy assumes the commitment of
carry out the actions before the Public Administration of the committed payments
by the successful tenderer in these general conditions, giving precise account of
the presentation within the legally established deadlines.
These expenses, supplies and taxes are additional to the price, and will not be used in
no case to the satisfaction of the mortgage debt.
d) Expenses, of any order, incurred by the interested parties or participants of
any class in the process will be entirely your account, without the right to claim
no type of compensation, contractual or extra-contractual, for any reason
brake to this part.
➢ All interested parties may participate in this auction at the date of their auction.
celebration, being able to bid both natural and legal persons, who have capacity
to contract in accordance with the norms contained in the Spanish Civil Code.
➢ As it is an electronic auction, in order to participate in it, the interested parties
They must be registered as users of the Auction Portal system.
will be carried out through the Auction Portal (auctions.boe.es) through secure mechanisms
of electronic identification and signature in accordance with the provisions of Law 59/2003, of 19
December, electronic signature, so that in any case there is a full
Bidders identification.
➢ It will also be essential to participate in the auction to be in possession of the
corresponding accreditation to intervene in it, after having entered, through
of the Auction Portal, a deposit for the amount set by the Bankruptcy Administration
(calculated on 15% of the "minimum bid price" or "exit price") for each
lot on which you want to make an offer.
➢ The holders of credits with special privilege on the goods subject to auction will be
exempt from the obligation of consignment to take part in it. However
It should be taken into account that: 1) if the person making the bid is a natural person acting in
The creditor's representation is essential to be the same natural person as
is identified in the Portal as representative of the creditor when the Auction is registered
providing your NIF, which has to match the NIF of the user who will perform the
bid; and 2) if the user is a representative of a creditor who has not made
consignment, the Portal will not allow you to place a bid until there is already a bid
from another bidder.

The auction will open after at least twenty-four hours from the date of
publication of the announcement in the "Official State Gazette", when it has been sent to the
Auction Portal the necessary information for the beginning of it. Ad
It will also appear on the contest website until the end of the notarial auction.
Additionally and in accordance with the provisions of the approved Liquidation Plan
judicially, these particular conditions of this auction will be published both
on the website of the contest www.martinsafadesaliquidacion.es as in the Board of
Announcements of Commercial Court No. 1 of A Coruña. The publication in the BOE is
inform the Commercial Court No. 1 of A Coruña, for the purposes of maximum publicity and
transparency.
➢ The auction will accept bids for a period of twenty calendar days from its opening.
However, the auction will not close until one hour has elapsed since the completion of
the last posture, provided that it was superior to the best performed until that
moment, although this entails the extension of the initial period of twenty days by a
maximum twenty four hours.
➢ Offers lower than the starting price set for each lot will not be accepted (“minimum price
of sale ”), not accepting either those that include deferred payment or that include
any condition. The minimum bid price has been set by the Administration
Bankruptcy under the terms established in the Judicial Approval Settlement Plan.
➢ The offers will be made in accordance with the provisions of this tender document,
without alterations of the same, which will be considered as not being established,
The offer may be rejected in its entirety.
➢ When bidding, the bidder must also indicate whether or not he consents to the reservation of
consignment and if you bid on your own behalf or on behalf of a third party. They will be admissible
positions for a higher amount, equal to or lower than the highest already made, being understood
in the last two cases that allow the reservation of
consignment and will be taken into account in the event that the tenderer has
done the same or higher bid does not finally enter the rest of the acquisition price
or decline your right for any other cause. In case there are positions by the
same amount, the previous one will be preferred over time. The auction portal will only publish
the highest bid among those made so far. In case of bid reservation the
consigned amount will not be refunded until the total end of the auction of all
lots.
➢ Tenderers may apply for all or some of the lots. In
If a lot is made up of several assets, there are no limited positions to
any of the assets but must understand the lot in its entirety.

Offers made in order to assign the auction to a third party, prior or
simultaneously to the payment of the price of the lot, this power that would materialize in the
relevant deed of sale.
➢ The auction will end when the bidding period on the Portal of
Auctions However, auctions with separate award lots will only be given for
concluded when the bidding period for all your lots has ended.
➢ Once the auction is over, the Auction Portal will send the Notary information
certified of the telematic posture that would have been winning, as well as, by
decreasing order of amount and chronological in the case of being this identical, of all
others who had opted for the reserve of posture.
It will also order the deposit deposit corresponding to the bidder of the winning bid
in the notarized account enabled for consignments.
➢ In case that no bidder attends the auction of the lot
corresponding will be deserted. The fact that the auction of some lot is left
deserted will not affect the validity of the auction results of the rest of the lots.
➢ The result of the Auction will be recorded in the notarial certificate with the proclamation of the
result and award of each of the lots.
➢ Once the deposit of the initial deposit has been confirmed (15% of the minimum bid price)
through the Portal of Auctions in the consignment account of the Notary, this, through
Reliable communication, will inform the first winner of the auction result and
will summon you so that within ten business days from the receipt of the
communication proceed, at your choice:
1) to deposit the rest of the price in the Notary in which the auction has been carried out
by deposit transfer in the consignment account of the Notary
designate the effect on reliable communication. In this case, once the
receipt of the deposit within said period, the Notary, after consulting the
Bankruptcy Administration, will place the winner, through reliable communication,
to formalize the deed of sale in the office of the notary authorizing
pointing day and time to the effect.
or 2) to reliably communicate to the Notary its willingness to formalize directly the
deed of sale with simultaneous payment of the rest of the price by check
registered bank issued by a financial institution established in Spain or entity
domiciled in the European Union. In this case, once the receipt of the communication has been verified within the deadline, the Notary, after consulting the Bankruptcy Administration,
will place the successful tenderer, through reliable communication, to formalize the
deed of sale and payment of the rest of the price at the Notary's office
authorizing indicating day and time for this purpose.
➢ In any of the cases, the awardee at the time of formalizing the deed of
sale must make the payment of the expenses set out in this Specification whose amount
be known and, with respect to the remaining ones, you must expressly assume your payment and
make the appropriate provision to ensure it. The supported payment methods may be
either registered bank check issued by a financial entity established in
Spain or entity domiciled in the European Union or credit transfer
righ now.
➢ Also, in case of not having done it previously, the awardee in the act
of granting of the deed of sale must present bank guarantee or
notarize a deposit unavailable for the amount of Goodwill in favor
of the bankrupt, which will remain in force until the date on which the payment of the
same.
➢ At the time of the formalization of the deed of sale and prior to it,
will be granted, where appropriate, by the creditor with special privilege letter of payment and
Cancellation of the mortgage.
➢ The sales that are formalized in the execution of the auction must comply with each
case the material and formal requirements of the legal regime of the object goods
selling.
➢ In the event that the successful tenderer once notified to that effect does not constitute the deposit
of the rest of the price in the current account of the Notary within the period indicated in the
present conditions or not within the deadline the reliable communication of your
willingness to directly formalize the sale, and / or not appear on the day
indicated for the formalization of the deed of sale, and / or not pay the rest of the
price, and / or did not meet the payment of the required expenses based on these
conditions, and / or breach any other of the obligations established in the
present specifications, the award will be made to the second or subsequent best
Bidder who had requested the reservation of his consignment, losing the consignments
the defaulters and giving them the destiny established in the Prosecution Law
Civil, making the amounts the Bankruptcy Administration in the interest of the contest. In
if there is no subsequent bidder with a reserve reservation or if it is also
breach of its obligations will declare bankruptcy of the auction.

The auction will be declared finished by the Notary when with respect to all the lots that the
make up the deed of sale with the successful tenderer or be declared void or
The auction is broken.
Once the auction portal has been communicated, the latter will proceed to order the
return of all deposits of bidders who had made a bid reservation
and that they were not finally winners of the auction.
➢ Regarding the assets not adjudicated in this auction, it will proceed to its
implementation in accordance with the Judicial Approval Settlement Plan (means
realization subsidiaries). In this sense it is highlighted that the
Article 671 of Law 1/2000, of January 7, on Civil Procedure, in the terms
set out in letter j of the second legal reasoning of the Order Approval Plan
of Liquidation issued by the Commercial Court No. 1 of A Coruña dated 29
September 2016
➢ Since the real estate object of the auction is mortgaged, the
amount of the price reached in the auction (other than expenses and supplied in the terms
which are contained in this specification and in the AUCTION DOCUMENT) will be destined to
satisfy or reduce loans recognized to mortgage creditors, pursuant to
order provided for in article 155 of the Bankruptcy Law and, if there is any remaining, it will be integrated
in the active mass of the contest. If the price obtained were lower than the guaranteed credit,
the amount not paid to the mortgagee may be forgiven by the mortgagee or in case
on the contrary, it will be integrated into the passive mass as provided in article 155 of the Law
Bankruptcy with the corresponding qualification.
The expenses, supplies or taxes referred to in this Specifications are not
In no case will they be part of the price reached in the auction and will not be used for
satisfaction of the mortgage debt (creditor with special privilege).
The tax base of the Value Added Tax in the transfer of the property
when applicable, it will be constituted by the total amount of the consideration
of the referred transmission, including in said concept not only the amount of the price
of sale but also those expenses that, according to the applicable legislation or the clauses
specific contractual, are passed on to the purchaser of the property, in the terms that
They are already indicated in this Bidding Terms and Conditions.
➢ For the purposes of the provisions of this Specification, notification or
reliable communication the remission of a certified letter with notice of receipt or any
another individual and written procedure that allows to record its receipt and,
In the case of communication addressed to the Notary by the successful tenderer, the communication made through the appearance of the latter before the Notary shall also be understood as such,
personally or through a representative with sufficient powers for this purpose.
➢ It is also reported that MARTINSA FADESA, S.A. IN LIQUIDATION is subject to
the effects foreseen in article 2.1.l) of Law 10/2010, of April 28, on Prevention
of Money Laundering and Terrorism Financing, according to its corporate purpose,
adopting the measures provided for in the Law and in the development regulations
applicable. Consequence of the aforementioned obligations, the bankrupt today may collect
whatever additional documentation is necessary in terms of identification and
First admission, among other aspects, being a cause of non-compliance with these
conditions the non-remission of the requested documentation.
➢ Likewise, the personal data contained in this offer will be treated as
In accordance with the provisions of the Organic Law on Data Protection and the Regulations
(EU) 2016/679 of the European Parliament and of the Council of April 27, 2016. To
Any matter related to the processing of data of natural persons may
contact the Data Protection Delegate through the following email address
electronic: DPD@martinsafadesaliquidacion.es.


➢ For any questions you can contact assets@martinsafadesaliquidacion.es


In A Coruña, on November 27, 2019


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#5
Looks even more unlikely after reading all that 🤕🤕 with all the conditions attaching what you would owe, the actual auction price in my view would be the least of it. Such a shame with so many people needing decent housing
Just tell me when I can retire   Cool
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#6
Not just that Ron. La Oliva Ayuntamiento said the villas can't be legally connected to water or electricity and it will cost the buyers quite a bunch to get all the paperwork sorted out just to do that. Not planning to invest here but the case is too interesting not to follow. Will take some photos (if possible) if we decide to see the villas over the weekend or next week the latest. Fingers Crossed
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#7
In other words it all being orchestrated to keep Joe public out of it so one of the governments buddy developers can get a hold of it on the cheap, the usual brown envelopes (that don’t exist) will change hands & low & behold, miraculously in a couple of years (just in time for the development to reach completion) the planning issues, including water & electricity will all be amicably resolved !!!
Just tell me when I can retire   Cool
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#8
(17-12-2019, 11:25 PM)Spitfire58 Wrote: In other words it all being orchestrated to keep Joe public out of it so one of the governments buddy developers can get a hold of it on the cheap, the usual brown envelopes (that don’t exist) will change hands & low & behold, miraculously in a couple of years (just in time for the development to reach completion) the planning issues, including water & electricity will all be amicably resolved !!!

If Joe Public buys one villa and the rest will go to an investor because they bid more than 3,000€, winning the auction fair and square, than Joe can wait a couple of years for the developer to get everything sorted out with or without the need of brown envelopes. Simple as that.


Auction is a wonderful way in this case. Cheating isn't possible (at least not easy) and whoever wants to buy, has to bid as much as they're willing to pay (read lose). Joe, you, me and everyone else can send their bid and hope for the best. Most of us won't do it because the fear is bigger than the greed.


Few of us can see it from a different perspective and are willing to take the risk. Good luck to them, no matter how they're going to sort everything out. It'll be at least one of many unfinished projects, serving its purpose.
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#9
(18-12-2019, 07:16 AM)Sam Wrote:
(17-12-2019, 11:25 PM)Spitfire58 Wrote: In other words it all being orchestrated to keep Joe public out of it so one of the governments buddy developers can get a hold of it on the cheap, the usual brown envelopes (that don’t exist) will change hands & low & behold, miraculously in a couple of years (just in time for the development to reach completion) the planning issues, including water & electricity will all be amicably resolved !!!

If Joe Public buys one villa and the rest will go to an investor because they bid more than 3,000€, winning the auction fair and square, than Joe can wait a couple of years for the developer to get everything sorted out with or without the need of brown envelopes. Simple as that.


Auction is a wonderful way in this case. Cheating isn't possible (at least not easy) and whoever wants to buy, has to bid as much as they're willing to pay (read lose). Joe, you, me and everyone else can send their bid and hope for the best. Most of us won't do it because the fear is bigger than the greed.


Few of us can see it from a different perspective and are willing to take the risk. Good luck to them, no matter how they're going to sort everything out. It'll be at least one of many unfinished projects, serving its purpose.

Fair enough Sam. I suppose that is a realistic way to look at it 😁😁 For Joe public though, I wouldn’t see it as “greed” so much as an “opportunity” for a decent house without having to sell some organs 🤣😂
Just tell me when I can retire   Cool
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#10
(18-12-2019, 09:30 AM)Spitfire58 Wrote: Fair enough Sam. I suppose that is a realistic way to look at it 😁😁 For Joe public though, I wouldn’t see it as “greed” so much as an “opportunity” for a decent house without having to sell some organs 🤣😂

Sorry for using the term Greed; I'll try to explain why I used it.

People trading stocks, call declining market Bearish (red numbers) or Bullish (increasing in value-green numbers). Not difficult to learn the terminology but I never liked it. Later on I read about Fear & Greed and liked the terms straight away. If there's too much of fear, the value will drop, get enough greedy investors involved, the price will rise. Nowadays the terms are more popular with the cryptocurrency traders and still make more sense within any market. Greed also sounds much more positive to me than it used to.
I Heart Fuerteventura
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