Bank repossession development in Picena near Cherin?

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D1ckyS
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Bank repossession development in Picena near Cherin?

Postby D1ckyS » Mon May 02, 2016 12:57 pm

Hello All,
This is my first post on this site - it's a fantastic resource for anyone thinking of moving to Andalucia.
My partner and I are looking to retire to Andalucia next year and are thinking of buying a small place now to holiday in and rent out before we make the big move.
Whilst the most sensible thing to do may be to buy an easily (?) lettable apartment on a development on the coast, my heart wants to find somewhere with a bit more character further inland.
We've come across several cheap townhouses on a strange new-build development of 50 townhouses in Picena near Cherin in the Alpujarras. It looks from Google as though it was actually built around 2008 and has sat empty since. Several units are now on the market as bank repossessions. Does anyone know anything about this place, its legal status and/or the pitfalls of buying such a property?
Many thanks in advance.
Richard

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costakid
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Re: Bank repossession development in Picena near Cherin?

Postby costakid » Mon May 02, 2016 3:15 pm

a major drawback maybe your the only one living there if its all empty.

jogger
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Re: Bank repossession development in Picena near Cherin?

Postby jogger » Thu May 05, 2016 6:23 am

Do you have a link?

D1ckyS
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Location: West Sussex

Re: Bank repossession development in Picena near Cherin?

Postby D1ckyS » Thu May 05, 2016 12:51 pm

Hi Jogger,
If you Google "bank repossessions Picena" you'll find several adverts and images. Google Earth also shows a weed strewn ghost town.
In the meantime I think I've answered my own question. After scouring the internet I finally found one solitary thread about this development from 2005 on another forum with the usual story of deposits paid and disappearing agents and developers. The final nail in the coffin for me was the linking of it, at the time, to the same UK agents who were involved with the infamous illegal development near Golco.
I must say I'm surprised that there isn't more information about this place out there. Even the agents marketing it now professed not to know the history.
Given all the current uncertainties, I think we'll probably stick to renting for a few years.

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costakid
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Re: Bank repossession development in Picena near Cherin?

Postby costakid » Thu May 05, 2016 6:54 pm

wise decision.

swerve
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Re: Bank repossession development in Picena near Cherin?

Postby swerve » Thu May 05, 2016 11:58 pm

There cheap for a reason. Btw if you do buy anywhere don't factor in renting it out as it's just not worth the hassle.
It always seems imposible until its done. Nelson Mandela

jogger
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Re: Bank repossession development in Picena near Cherin?

Postby jogger » Sat May 07, 2016 9:04 pm

Thanks *beep*, I think I'll leave that one and keep looking around Axarquia.................


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