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Info on Medsea anyone?

Discussion in 'Spanish property' started by rowlandsbb, Apr 9, 2009.

  1. rowlandsbb

    rowlandsbb New Member

    On some forums posters are saying that Medsea are either in administration or about to go into it
    Does anyone have any detailed information?

    If true then another relatively large agent specialising in Spain has gone under and their business model was based on Exhibitions and Inspection Trips to catch sometimes the unwary potential buyer

    Today in 2009 and thanks to the internet and Forums like this one, potential buyers are now up to speed and this will I consider provide a better client for professional agents to help find the home they are looking for in Spain

    On a business point, it may well be that those agents who do survive will be in a very attractive position to provide the required service, when the recovery comes!!.....I suppose we can all live in hope that all the work today will be worth while!!!!

    Just now the emphasis for all of us is in finding good buyes for clients either via discounts on re sales, ready now [ where many are now coming through' and distressed sales

    Any price stated on the interent should be treated as a ' guide' price' as almost everyone is 'open to offers'

    2009 may not be the bottom of the market but certainly it must be a good time to buy for life style buyers...lots of choice in good locations and ' open to offers'
    Forget about the ' Medsea' model just get on a plane and we can show you the value you can get!!
     
  2. 4sbo-spain

    4sbo-spain New Member

    Medsea Bankrupt

    Hi,
    A reliable source informs me that Medsea will be filing for bankruptcy protection within the next week or so. They owe millions and simply have no cash. IMHO their business model only ever worked when there was huge numbers of clients coming out on IV's. The minute the numbers subsided, Medsea hit problems.

    I agree with the point made by Rowlandsbb, with the aid of the internet, the clients that do come will be better qualified and hopefully the Professional Agents left will be able to inject some positivity into the Market.

    I for one would never swap my spanish life to return to the UK.:)

    4sbo-spain
     
  3. rowlandsbb

    rowlandsbb New Member

    Always good to hear that someone likes the life in Spain...and there are many more like you
    I visit a lot and will in due course spend most of the winter in Spain.........modern IT enables web sites to be run from anywhere and I seem to spend more and more time in Spain with clients......Spanish home will be near Huercal Overa Almeria which is close to the AP7 for good access to the area I operate in [ Costa Blanca to Mojacar]
    Also 2 bed villas start from circa 139.000 € in decent plots...worth a look as it is a Spanish environment yet only 25 mins from the coast
     
  4. 4sbo-spain

    4sbo-spain New Member

    Medsea Update

    Update on Medsea Estates:
    They've changed their name to AIM Investments PLC

    They have now got rid of the last member of Staff in the Almeria region, looks like there's some activity involving re-branding the company and focussing on emerging markets. There's rumour of an Irish investor being involved.

    They still haven't paid any of their staff since October 08 and owe their agents millions! I guess they will now just walk away from their debt and start all over again.

    Lets just hope they stay out of Spain and leave it to the honest hardworking Agents that are riding the storm.

    Regards, Neil
     
  5. rowlandsbb

    rowlandsbb New Member

    From information on the web the Medsea company has changed its name as Neil says
    And they are no longer in the agency business.......if you are owed money by the company then you should contact them direct...you can probably get full information from the AIM

    It appears that the new owners are using it as a shell company to inject a new business into it

    They may have hived off the agency side but first stop to claim is against the original company...change of name does not affect a company's liabilities to its creditors

    Most of the old big agents seem to have gone or at best slimmed down which means that there are openings for the smaller agent , who in general gives a better service

    The recession has certainly sorted out the agency business!!!!......and there is more reality in the business...at last!

    A professional approach and service provides a better climate for clients...buying or selling
     
  6. Ibermaxx

    Ibermaxx New Member

    Agency

    This is a very well known agency here on Costa Blanca.
     
  7. rowlandsbb

    rowlandsbb New Member

    Ibermaxx

    You say Medsea is very well known on Costa Blanca but are they still trading under the same name?
     
  8. Ibermaxx

    Ibermaxx New Member

    Office

    Yes, you are right. There was a big office on avenida Purissima in Torrevieja, bus seems like nothing is going there now...
     
  9. rowlandsbb

    rowlandsbb New Member

    I think the best advice for anyone who has bought via Medsea off plan, is to get in touch with their lawyer asap and then go direct to the builder
    Your contract will be with the builder but you want to make sure that everything is in order

    In the majority of cases it should be, but check now

    Starting to look as though it is only the smaller professional agents that are left!
     
  10. Ibermaxx

    Ibermaxx New Member

    Colinas de La Zenia

    There is a also big problem with Technologica Urbanistica. There is a urbanisation "Elite Colinas de la Zenia", with dozens of buyers, most of them from UK, who paid 30% down payment, and the construction has stoped completly.
    No many, no house......
     
  11. mikephillip17

    mikephillip17 New Member

    Yeah, I have heard about Medsea from one of my relative from Costa Blanca
     
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