Please explain your post KK.
It does not make sense, to me anyway
NEW AAG UPDATE
As posted by Stop the current Loan with BCN Bank has come to an end! Alas a new loan structure has been enabled now to pay the Builder Direct! A rather strange way of doing things as predicted, more and more refuse to pay up, this stops instantly! Again Sambala take the quiet approach!
Are all payments now being made direct the Bank and not the big Swiss Account of Grepne? It’s happened on another Development on Sal, Villa Verde! Where Banks take 100% completion Fees.
Still progress is being made by AAG.
There is an update from AAG, it goes a little further into it.
Although it does now seem the laying of all those foundations has a purpose. However not the one Sambala tell. It could be the last big Money Grab!!!!
Absolutely Incredible…..I have been away for a week and come back to all this regurgitated unfounded nonsense from the Dirty Dozen. Do something more constructive and get facts to your chundering and then make everyone happy. Talking of happy, its the Royal Wedding tomorrow, any chance of you clowns celebrating the day by giving us 24 hours off from your reptitive self opinionated garbage. KK…I thought you had sold out and bought a castle, and were going to retire from postings and enjoy life with your other half….yet you have just set up 3 new threads…very strange
Incredible, Sambala now have to SPAM to get noticed and draw attention away.
ODD that this happens after AAG have an UP0DATE LOL
KK…more assumptions that are way off target….typical Dirty Dozen spin. I commend you, you are great at spin…..you should work in Parliment. You sold out, what has any of this got to do with yougeorgeMember
So it seems like its the Dirty Dozen v Dirty Rotten Scoundrels. Which one is Grepne? Caine or Martin? I can’t remember who the rich one was with the villa on the Cote D’Azur.
Something a bit odd though “WHO IS THE BUILDER?”
Sambala say, any defects, See the Builder!
Bowden say, We are not the Builder, were project managing.
Banner say, We are the Builder,
Odd Job say we are the Village Builder,
Yet Banner get the money? So confusing, it will be a nightmare if repairs are needed!!!
The Dossier (letter to client)
The NEW Arrangement????
You can see why now up to 100 foundations are being laid!! With a minimum out lay, they recoup the maximum income! (Known as a Money Grab) This as can be seen is very short sighted of the Bank, as after All those payments are in, and used to finish the Village, Where does the Money come from to actually start building on those foundations?
In commercial terms, the arrangement is very straightforward as essentially BCA have analysed the value of the remaining promissory receipts Sambala are due from VDS investors outstanding stage completion payments against Bowdon’s costs for the same construction stage completions
In Short lay 100 pads @ 4K each = 400,000 Charge 50K stage payment = Income 5 million
If investors don’t pay to schedule, this is transparent with the Bank who then turn ‘the tap’ down on the credit line which in turn forces us to slow down the build. We all know that announcing a forced slowdown of construction at this stage in the process would be extremely detrimental to all of our interests and so not an option.
This is the RISK factor here, as some may pay a further 50K, then some may not. If not enough pay, the site closes again, and with mounting interest already, this time it may never re-open!
You should always be nice to investors on your way up the success Ladder, as you don’t know who you’ll meet on your way back down after failure! Never bite the hand that feeds YOU! Maybe an independent survey would have been a better idea, than a one constructed on the quiet, to elevate such concerns. But then again, are they hiding something?
I can build your property and complete the Village but not without funding which is why I respectfully request that you change your position and confirm that you will proceed with payment on your completed foundation for( plot x). May I also again apologise for the delays and frustration, thank you for your patience but also reaffirm that with your agreement, we will be able to complete Vivendas.
A good developer that has kept its promises, replied to owners concerns, and answered emails, would not need to write such a begging letter, this is how MRI are no more!
Another great post asking the right questions? These are questions that all investors should be asking not just the Dirty Dozen?
However the problem is Sambala seldom if ever reply to difficult questions? The only time Sambala ever has a customer service department is when they are after payments?
Interesting KK, however, you are hardly re-inventing the wheel are you?.
Almost all builders do the same don’t they?
Use deposits to get a project up and running and secure your plot, with perhaps 4 stage payments to fund continued work as the projects develop
If the funds don’t come in, then there is a cash flow problem.
If the buyer does not pay, then they repossess.
If there are still cash flow problems, then its finished.
And as you sit in your nice castle counting your cash from selling your property, wondering how to fill your days since there is no longer a Sambala section on CV24, almost everyone else has lost thousands of pounds.
Where did this 4000 cost per concrete plot materialise from ?, or was than an estimate?
So the big question is, when will they start building off these foundations, when all the foundations are down?
Cash grab, pure and simple!
That money will probably be used to try and finish the village or line there pockets? which is it?
Please read your build schedule for the answer.
If you don’t believe it, then there is not much I can say or do about it.
Why read it, what number is it upto now?
They have never followed one yet!
I stopped believing in Father Christmas and the fairies when I was a child? Soon Stog we will have run out of fingers and start to count the latest Sambala Schedule using our toes!
Sherpy, that is normal practise to get the site up and running! However as you are well aware Sambala also had all the funding up-front too, enough to build both the Village and VS phase! We are talking Build Cost here, NOT SALE PRICE! For Sambala to try and say they are now relying on future payments shows there is a chunk of money missing. If there was another reason, say much higher cost for materials you can bet your bottom dollar, Sambala would have used that as an excuse!
Although you are fully aware of that. The import tax too does not enter the equation either, that was a added bonus, or so Sambala thought. BUT you’re aware of this, so why keep making excuses for Sambala!
The 4K is material costs only for the foundation slab, as discussed at the time it was brought up! Remember it was just plonked on the ground, on a mound of hard core, not even compacted. (see your pictures)
Around 16 square mts of concrete!
Around 300 breeze Blocks!
steel reinforcing for the sides!
Free, infill, rocks and hard core!
Around 12 square mts of concrete cap, or floor!
So 4,000 is being generous for materials.
Now as you know Sambala has already had the infrastructure payment, yet the Infrastructure remains un-complete! The payments they are asking for now will take the total being paid by owners well over 50K! Again, I was very generous to only quote 50K per owner!
I take no pleasure in seeing anyone lose their money to the likes of MRI, or Sambala! AAG are bringing forward something that would have happened by the end of the year in any case after this cash call. Where else can they go for money after that? AAG are not only hoping to recoup everyone’s money through Assets, but by bringing the inevitable forward, preventing owners from losing yet more money. If you can’t see that, something is sadly amiss with you I’m afraid.
There are far too many questions that Sambala have not addressed. This was always going to be their own down fall, as the people who needed those assurances and didn’t get them, now have the power to show Sambala how they feel. You included.karlMember
I askeed Dominic at the swindon meeting could they build my villa with the final 50% that i have left to pay.
He replied if everyone paid up the final payments it would be more than enough to build the whole site.
So i said that you have had 50% so get on with it then and you should not need anymore money if 50% builds the whole site
Just utter crap from the slime ball as per norm
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