Have you reserved at Gran Natal Golf?

[KDJX]

Originally Posted by Marben

Hi guys

Sorry for the gap in updates again. I have been meeting with lawyers all week!!

Anyway latest update is that GS still do not have "Registro de Incorporacao" and only have now until next Thursday in which to get it, before they start breaching contracts!!! They still have not got title to the land so it is now highly unlikely that they will recieve any of the required documents in time.

Our appointed lawyers are asking for all buyers to make contact in order to compile a list of buyers to make a claim for refund for. Of course if you have already instructed your own lawyer then my advice is make contact with them NOW in order for them to start the refund claim process on your behalf.

If anyone wants the details of the lawyers that will assist in this matter, then please email me at lisa@marbenrealestate.com or drop me a PM.

If anyone has individual questions again feel free to make contact.

Many thanks

Lisa

It seems its costs money to get money back. I've had to commision a Spanish Power of Attorney to make the necessary claims on Barclays at 500 Euro's...ouch !!!!

[LisaNic]

Hi Keith

You are correct in that Manzanares are making a charge for the litigation involved in administrating the Bank Guarantees. This charge is indeed 500€ and i appreciate that some buyers may think this is a heavy charge on their part. However like any business they need to ensure there time is covered and I can advise that Manzanares have spent a huge amount of time with me over the last few weeks in order to ensure that clients are being advised correctly as to the situation with GS and the actions required in order to administer the bank guarantees moving forward. I personally feel it is a fair charge in order to ensure all buyers recieve their due monies from GS.

Thanks

Lisa

[KDJX]

Originally Posted by Marben

Hi Keith

You are correct in that Manzanares are making a charge for the litigation involved in administrating the Bank Guarantees. This charge is indeed 500€ and i appreciate that some buyers may think this is a heavy charge on their part. However like any business they need to ensure there time is covered and I can advise that Manzanares have spent a huge amount of time with me over the last few weeks in order to ensure that clients are being advised correctly as to the situation with GS and the actions required in order to administer the bank guarantees moving forward. I personally feel it is a fair charge in order to ensure all buyers recieve their due monies from GS.

Thanks

Lisa

Yes. If they succeed in getting the deposits back for their clients it will be a very worthwhile investment...especially the penthouse deposits. The changes in exchange rates with the Euro strengthening will go a little way to cover the losses through fee's etc.

K

[JMBroad]

Originally Posted by Raimundo

Mr. Broad, your comments are exactly the way Brazil does business and I already understand this now. Back in 2000, we did not have a grip on Brazil nor the culture. But yes, there`s a lot of truth in your comments and because of that... it takes time to build relationeships, maybe years, and if you are a Gringo, you have to prove yourself more, especially in Rio de Janeiro as all the locals already think you are a "Sexo Toutista" until you prove them wrong and this could takes years. Thanks to all the A*sholes before us, we are paying for that activity and the reputation Gringos now have in Brazil. After years of working hard and proving myself in my home country, the last thing I want is to prove myself in another, arguable a 1st-2nd world country. That said, in neighboring Latin countries it´s a little different and easier therefore our financial interest is targeted there. Our investment group can buy/build/invest and produce a lot of jobs in Brazil.... but the group has a bad taste about Brazil. Quite sad really so they are investing in the US and DR.

The bad thing about a relationship country is that if you don't know anyone it's a nightmare to get anything done. The good thing about that type of country is that if you do know someone with only a little pull, you can get a lot done.

In a relationship country, if you have a friend who can introduce you to the right people and if that friend vouches for you (all it takes is for him to tell the others that you are "ok") then you get a token. You can use that token to ask for as many favours (or information) as you like but if you are considered to be asking for too much without giving anything back then not only you lose your token but your friend might get in trouble too.

But if you don't overstep the bounds and are able to reciprocate with tokens of your own in due course then you've basically got it made.

The "tokens" I'm referring to are not monetary, and can't be explained in any other way - some times you don't even need to manage to do anything to refresh the token - trying to get something done for someone is often enough - I don't know of any other countries that work this way apart from Brazil and Portugal and having lived in Spain where money talks harder than relationships, I've got to say I prefer the relationship way.

[Cam101]

Originally Posted by Marben

Hi Keith

You are correct in that Manzanares are making a charge for the litigation involved in administrating the Bank Guarantees. This charge is indeed 500€ and i appreciate that some buyers may think this is a heavy charge on their part. However like any business they need to ensure there time is covered and I can advise that Manzanares have spent a huge amount of time with me over the last few weeks in order to ensure that clients are being advised correctly as to the situation with GS and the actions required in order to administer the bank guarantees moving forward. I personally feel it is a fair charge in order to ensure all buyers recieve their due monies from GS.

Thanks

Lisa

Just spoken to Manzanares and apparently there has been a mistake in the figure we have been given. This is not 500 euros but 1500 euros to cover all costs! Has anyone else had this figure? It now becomes more of an issue for those seeking a refund of reservation fee in that this money will need to be paid before we know if licenses will be granted within the original bank guarantee period (those who reserved in May/June). If they are granted within the 12 month period and you do not want to progress, you will lose the reservation fee, and the legal costs (probably in excess of 2500 euros to date incl the 1500) will have been worthless. If you pay the legal costs and excersise the bank guarantee post 12 months if licenses aren't granted, the legal fees you have already paid including the extra 1500 will obviously indirectly reduce the amount you get back. Some tough decisions ahead! Would like to hear comments on whether you guys think licenses will be granted before the end of June or not. Do you think it's worth throwing another 1500 euros at this if you are not planning to proceed and licenses are granted within the 12 month period?

Cheers
CAM

[LisaNic]

Originally Posted by Cam101

Just spoken to Manzanares and apparently there has been a mistake in the figure we have been given. This is not 500 euros but 1500 euros to cover all costs! Has anyone else had this figure? It now becomes more of an issue for those seeking a refund of reservation fee in that this money will need to be paid before we know if licenses will be granted within the original bank guarantee period (those who reserved in May/June). If they are granted within the 12 month period and you do not want to progress, you will lose the reservation fee, and the legal costs (probably in excess of 2500 euros to date incl the 1500) will have been worthless. If you pay the legal costs and excersise the bank guarantee post 12 months if licenses aren't granted, the legal fees you have already paid including the extra 1500 will obviously indirectly reduce the amount you get back. Some tough decisions ahead! Would like to hear comments on whether you guys think licenses will be granted before the end of June or not. Do you think it's worth throwing another 1500 euros at this if you are not planning to proceed and licenses are granted within the 12 month period?

Cheers
CAM

Cam

Who did you speak to at Manzanares to be quoted that price? If have spent a lot of time working on this with these lawyers and have the figure of 500€ in writing from them for those clients seeking a refund on GNG. This is purely for the POA to activate the Bank Guaranatee.

1500€, I believe is the minimum fee for a full conveyance service from them when acting on your behalf in a purchase.

Hope this clarifies?

Lisa

[Cam101]

Originally Posted by Marben

Cam

Who did you speak to at Manzanares to be quoted that price? If have spent a lot of time working on this with these lawyers and have the figure of 500€ in writing from them for those clients seeking a refund on GNG. This is purely for the POA to activate the Bank Guaranatee.

1500€, I believe is the minimum fee for a full conveyance service from them when acting on your behalf in a purchase.

Hope this clarifies?

Lisa

Lisa

PM'd you on this.

Cheers

Hi Lisa -

A few questions

Form what I understand you are employed by a real estate company based in the UK.... That said, what are you selling exactly? Property? Homes? Flats? And where is your interest in Brazil? Also, what is your experience in Brazil? Do you live there and for how long? What areas in Brazil do you know?

Thanks!

[LisaNic]

Originally Posted by Cam101

Lisa

PM'd you on this.

Cheers

Thanks Cam

Will review and reply.

[LisaNic]

Originally Posted by Raimundo

Hi Lisa -

A few questions

Form what I understand you are employed by a real estate company based in the UK.... That said, what are you selling exactly? Property? Homes? Flats? And where is your interest in Brazil? Also, what is your experience in Brazil? Do you live there and for how long? What areas in Brazil do you know?

Thanks!

Hi Raimundo

Here are my answers............

1) I run an international real estate company with offices in Spain, USA and Norway.

2) We sell off plan property in 15 countries worldwide, although my main focus is South America and the Caribbean. I have a team of advisors that have specialist knowledge themselves of other areas.

3) I have been selling property in Brazil now for 4 years very successfully, have visited the NE of Brazil on a number of occasions now and met with lawyers, developers, real estate agents, banks etc, to ensure I am fully updated with latest regualtions, laws etc.

4) I have done a lot of research into the buying process in Brazil and am fully conversent with the building regulations, licensing laws, buying processes etc.

5) I was previously employed by a company that foolishly sold GNG and now out of professional loyalty to those buyers I am now working (with no reward I might add) to ensure all the buyers are fairly refunded for the deposits they paid.

I hope this answers your questions, however if I can assist you any further please do not hesitate to contact me.

Kind regards

Lisa