Sorry to put a dampener on things but is it possible that the claim by the developer that Phase 1 is sold out and beachfront all bar 2 is a sales ploy? They have a number of other developments to promote, and such a tactic might help to push reluctant buyers along, by making them think everything is selling quickly (when this is very unlikely given the global nature of the current downturn) - and that they might miss the chance if they delay. I am suspicious that there were plenty (at least 20 apartments in Phase 1) showing available, both on the VFI list and the rightmoveabroad.com list, then suddenly Richard Hazel leaves, someone else takes his place and bingo, they're all sold out, just at the time when inspection trips (from the UK anyway) have no doubt ground to a halt due also to the Lamezia flights temporarily disappearing .

 When we booked our inspection trip back in July 2007, we were asked to pay our 3000 euro deposit immediately as the prices were all going up by 15% on July 15th - they didn't - this turned out to be a sales ploy. The developer (agent?) is also unwilling to handle any resales prior to completion, despite initial assurances that they would be happy to do so for a fee. Could this be because they still have unsold apartments? Hence my scepticism, and I am keeping an open mind.

I'm no more clever than the next guy london just trying to make sure my money is safe - and everyone else should be doing this too.

It's a great buy - its sold out both the main site and the beach - phase one.

Phase 2 on the beach is sold bar 2 and inland bar 20. So if you have not bought times run out and realistically it does look as if any potential problems with building/planning permissions is a bit old hat now. I have exhausted all avenues - and have no intention of resurrecting this red herring again.

So the rest of us should be well pleased. Now the serious work starts.

In 12 months time (ie what I reckon is the anticipated completion - Nov 09) you will need in place - Codice fiscale, Italian bank a/c, mortgage or other finance for the 50% balance and at least 15% of the total purchase price for extras eg notary fees, vat, interpreter(?) and any last minute expenses that will inevitably arise. Keep in touch with your solicitor and agent throughout 09 so you get a feel for the timetable. Completions will be staggered so make sure you got enough UK holiday left to get out there at short notice. Furniture package. Insurance. Ability to get quick cash when you are completing. Make a list.

Check out the exchange rate if you can afford to do the balance needed in cash as you can 'reserve' a euro rate with most foreign exchange companies by putting 10% up front. I cant tell you what the pound will do against the euro next year but it was 1.40 when I paid the 50% first payment in Dec 07 - it is 1.19 today....enough said eh?

Sorry if my last posts have stirred things up but you will be surprised how quickly the next 12 months will pass and you do not want to be left with 3 weeks to arrange a codice I can tell you.. I will continue to pass on what I can - i understand the various 'sections' will be called out during 09 to see the show appt and choose your  tiles, paint etc.

 Ryanair as hopefully most of you will know have restarted their flights into Lamezia.

I love it!

Thank you for your comments.

Looking forward to several years of sharing your roof terraces - even yours london.

rabs

I find it in a cafè this morning and in several public places. 

Rabs, not everyone is as cleaver as you or have the time to read up on everything or join every website or visit JOTS regularly to check up on their investment!.  I am very  nervous and excited about putting my hard earned money in the most beautiful location in the world, eventhough everything is going perfectly so far. I have 2 rely on everyone's feedback and its very important that any conerns about our  investment is brought to our attention via website such as this.

The information and the feeback you give is very useful and hope you will continue to do so, as I certainly do benefit from your knowledge and the wealth of your information.

I am glad you are very passionate and its great that you have bought in JOTS. Infact I feel a bit more secure with my investment knowing that  that I have bought in the same place as someone like you(as long as u r not my next door neighbour mate, i feel good!!!!!!!...joke!)

That's better - a bit of discussion and fight back - if you go back thru this site it went dead for months - where were you all then.

My point is this - would you buy in this country off plan without checking out the build for 2 years after you paid 50% of the purchase price?

No of course you wouldn't so dont go off moaning you haven't got time to go out to Italy to check on your investment in JOT. I'm on my third trip in Feb checking my money is cool . If you cant stand the heat then you should not have signed on the dotted line in the first place - surely you had written into your contract that you did not have to complete until ALL the communal areas were finished............

I did

I have over 300 emails in my server since I bought in Oct last year. I have my codicile, I know if I want a mortgage in Italy with Barclays I have to start the ball rolling 3 months before completion and I know if i go thru solicitors it will cost me £800 to arrange it,  I know what documents and info I will need to produce - I have a copy of the mortgage application form already filled out in front of me. I know I have to decide whether to go with a mortgage out there or would it be easier and cheaper to finance it from England in the light of the current markets and interest rates. I know It will cost me £100 to run an Italian bank a/c per annum, I have seen the posts that reckon completion will be in July 09 now and not June - I know that is rubbish - it will be later - I am still reading posts that say there is no permission to build the complex at all. I have etched in my brain every Ryanair flight cost from now until Feb 2010.

I am also not stupid enough to know that if you let things drift and rely upon everyone else to bail you out then you lose big time. Not only that but you have to big enough to take the hit of losing the lot. If not then yet again what are you doing trying to buy..

I'm sorry guys but you have to take some responsibility for your actions.

britishexpats.com is good. incalabria.com is the best.

rabs

Soke to Andrew and he was very helpful. he sent me on some recent photos of emerald and the otehr picture was deceptive and there is loads of room for a pool. I will post the photos.

thanks

Thanks boothill, I have contacted andrew and will let you know his response as soon as i get one. I know photos can be deceptive so lets hope we get what we signed up for.

Thanks

Ofcourse  the original plans have to be followed by VFI. I even got in writing about all the facilities of the complex (as I didnt really trust the sales chap!)...For example, in connection with the swimming pool, my addendum states " 

"SEVEN (7)   outdoor swimming pools in the complex, Out of seven swimming pools in the complex, one reserved to the Villas owners."

JellyO'Brien, Have you contacted VFI in connection with your concern over the space for swimming pool in Emerald? I dont think you can rely on a picture taken from one side to see if there is enough space for a swimming pool. If after contacting Andrew (VFI After Sales Manager) to find out the size of the swimming pool and if it still was a concern, then we could have all started to contact our solicitors to taking action.

I feel, that anyone else with other concerns should contact VFI first and if anything that was in the orignal plan is not going to be included, then we should discuss it here and take action via our solicitors

Andrew (After Sales Manager). His e-mail is andrew.a@vfioverseasproperty.com
Andrew can be contacted by ringing VFI Reception: 0044 (0) 2080995761 or his direct line is Direct Line: 0039 0963547056.

Andrew will also send you the latest plan (which will show the all the facilities of the origianl plan) and will also include the gold course and JOTS Phase 2.

I am going there in the middle of January and will try and update u as much as possible

I agress rabs a little over the top reaction to a pretty straight forward query. The  reason I ask is one of my main worries when signing the contracts was that the complex would be finished to the standard advertised not much of a complex if over 400 units and none of the facilities promised. On that basis solicitors attached plan to contract before i signed it.

Also we all can't just hop on a plane every few months to keep an eye on every development on site. We have all paid alot of money to the devloper and solictors to their job so its up to them to their job  right.

There are plenty of related threads at www.incalabria.com where information is shared.

A bit strong perhaps RABS. I thought the idea of this type of blog was exactly to share information and raise queries.

PS: Before you decide to shoot one across my bows - I have been out and have photos to prove it. So long ago - July 2007- not a sod was turned at that time though VFI did take us on a our of a 'hill'.  Really needed an imagination!! The region was magnificent however, great med. atmosphere.

If you're still happy to share info, you have mentioned in another message there are other blogs re: JOTS - what are they called?

Rgds

Jellyobrien are you honestly thinking you can change things now? Get real this is a moveable feast - it is not going to look like it did in the computer-generated shots you have seen - get out there and check it out if you are not happy - its your money right?

More positively for a change- and I note its a while since I have contributed to this site - the complex is sold out as far as Phase 1 is concerned (see realpointitaly website no longer selling and they have been since day 1!) so only Phase 2 to go plus the golf course build. Have no idea how well Phase 2 is selling but it is situated in front of and just below Phase 1 and nearer the beach.

No we were not told when we signed up either but so what.

No we were not told of the golf course build either - have you checked it out on the RDV website? Looks great. More than a hotel......

So you have made the jump and paid your 50% - why are you not out there checking up on what you can contribute to a successful completion of everyones buy instead of finding problems - lets have a little more 'what i can offer' instead of 'who's going to sort this out' - ok?

Hi

I have a concern about wether the plans are being followed. I looked at progress photos on the following site http://www.therightmoveabroad.com/overseas_property/jewel_of_the_sea_construction_photos_n54.php

and Emerald where we bought was supposed to have a pool between row 8 and 2 and  I can't see one in that picture or even the space for one unless its a paddling pool. Is tehre a chance that resort wouldn't have all the pools and other amenities advertised?

Regards

Thank you Bianca1 and London37.

I suppose we cannot be surprised that there will be more building in this part of Italy given its beauty. A golf course will require to be utilised all year and for that to happen there will need to be considerable accommodation within travelling distance. Being an optimist, I suppose also that developers would not be investing in this area if they did not feel there was good potential. Personally my main concern would be the standard/quality of the developments that will/may take place, after all, JOTS is promoted as a 4/5 star development.

Just one final thought. When  the selling agents were originally promoting JOTS, they made a big thing of the planning restrictions that had been applied to new developments, indeed it was indicated that the opportunity to purchase at JOTS was because planning permission had been obtained before the restrictions had been tightened. If this is so how are developer obtaining planning permission for new builds now. Was this your understanding also?? 

Thanks Bianca1 for your update. Just a bit concerned about the whole place being a building site for a considerable time.

I was given the impression that I would be able to rent out my apartment in Phase 1 JOTS as soon as it was complete. I feel VFI are now trying to flood the place with more properties there because the properties there have been selling well. If they start building too many properties in the same location, then i feel the value and the rental income will come down.
I knew about phase 2 being completed in 2010. Then they introduced their plan to build apartments around the golf course (which no one knew about!)...Now I hear they are planning on building a hotel. When will it ever end?!
I feel its going to take a while, before we can start renting our JOTS properties for someone looking for the calm of the Italian beaches and golf course or enjoy it ourselves!

Hi dcroft,

From the outset when we visited in July 2007 we were told that completion was unlikely before the end of 2009, as building work due to commence in June 2007 had not yet started, and in fact it was October, before digging started, so there was already a delay. Friends of friends who visited in September 2008 were told by Pascal (who is Italian and I think works for RDV rather than VFI) that completion of Phase 1 was expected to be December 2009, and the golf course due to be ready by the end of 2010. So I was quite amazed to read london37's post that this date has been brough forward by 5 months, especially after reading a post a few weeks ago saying that there were only around 20 builders on site. However, I have just rung VFI and they tell me our apartment (in Sapphire) is likely to be ready in around 3 months time, although the rest of the Phase 1 site will not be ready until around October 2009, so we will have the choice of whether to complete earlier or wait until the whole site is ready. (Like most people we would prefer to wait rather than be in the midst of a building site).

There are now plans for a hotel on the golf course, with about 50 to 60 rooms, and any overspills should then filter out to the apartments, which is good for those looking to rent out.

It seems there has been a rush of Russian buyers snapping up properties, especially the beachfront., so VFI seem to be weathering the credit crunch without any problems - as far as JOTS is concerned, anyway.

Many thanks Bianca1. I was not aware of the phase 2 development and its potential impact upon the useability of the phase 1 properties. In any case the dates you outline are interesting. While phase 1 was originally due to complete around June/July 09, it was indicated to me quite some time ago that this may be delayed until early 2010, and indeed penalty payments are not instigated through the contracts until this time. 

Is this your understanding also? 

Hi Bianca1

I was thinking of going in December, but after talking to Andrew @ VFI ( After Sales Manager), I booked my tickets for the 2nd week of January. The reason for this was because I was told that they would have a showroom apartment in Jewel of the Sea ready, which will show what my apartment would look like when its complete.

Hi dcroft,

JOTS Phase 1 refers to the initial release of "jewels" - emerald, ruby, turquoise, sapphire, diamond, all on the main development above the road and railway line. Later "Amethyst" was added on, in front of "diamond", but this is not part of Phase 1, and construction work will be continuing on this after completion of "Phase 1". This means that anyone completing in Phase 1, will have a year of being next to a construction site - Amethyst - making it pretty well impossible to let the property out. The only "up" side is that work grinds to a halt in August, so there should be one month of peace, if completion does take place on July 31, 2009. (Personally I would be very surprised if this does happen) Phase 2 includes the beachfront properties and Amethyst, and these are scheduled to complete in 2010. 

london37, when are you going?

Hi all,

Just reading through the messages. (London37) I trust your trip will be successful and enjoyable. It would be great to get an update when you return.

PS: Can anyone throw light on what constitutes JOTS Phase 1?

Thanks

Hi Drum

I am paying for the flight and hotel.. I booked the flights and rang VFI to book me into a hotel in the centre of Reggio.. I have been  told by VFI that they got me a discounted rate with the hotel. I am being picked up by VFI  "to" and "from" the airport to the hotel..

VFI will also take me

-to jewel of the sea development; 

 -to the bank for me to open a bank account.

-to meet with their after sales manager (Andrew) to ask any questions i may have.

I am going there for 7 days with my wife and a my 2 year old daughter ...The hotel is in the center of Reggio and i am paying 90 Euros per night for the double room.

To be really honest, I am very happy for this service provided by VFI...Well they did really look after us last time..i hope the service will be the same this time.

Before anyone asks, i have no connection with VFI, apart from the fact that I am buying an aprtment on Jewel of the Sea

no ann you are not missing something this is exactly what we all did, I considered buying 2 appartments and the giambrone and law were going to reduce their fee, but not eimlinate it !!! (nice work if you can get it)

Hi, I also meant to ask if anyone in the past has `shared' the cost of searches for Land Registry or debts/charges?  It seems ridiculous that each buyer pays a lawyer thousands of euros for the same searches.......or am I missing something?

Hi

We will shortly be buying in Phase 2 and would like to know  of any competitive mortgages available to UK residents.  We visited there in Mid October and the site is progressing very well.  Thank you in advance for your help.

The extract I quoted was itself an extract from a letter written to a purchaser by a well known firm of solicitors operating throughout Calabria.

About the bonds. In any property transaction, I would place little trust in a "middle man " sales agent who is selling a property.  They are acting for the Vendor.

Perhaps they are correct but you may be getting the information from a 17 year old who has been working there for a week!  If they are wrong and you lose your money you will have little or no recourse.

It would be safer to get this in writing from an independent  Lawyer acting for yourself.

'You can be sure that everything is correct. The bond has not expired, that's only the period for which the price of the bond has been paid. This annual price must be paid every year, but the builder is bound to renew it until the completion, the client is covered anyway, even in case of non payment of the renewal (this is under Italian Law). So the date is not related to the validity of the bond and a new bond is NOT needed'

The above, DB9, came from an email from VFI received 8/10/2008

Rabs