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Parador UK - please read if you have bought from parador
We were making a query with regard to our recent purchase and received the memorandum below from Parador properties indicating that Parador Uk have gone into 'voluntary administration'
Memorandum-Parador Properties Turkey
Dear Client,
As your overseas agent in Turkey, in consideration of the recent developments regarding Parador Properties Ltd UK going into Voluntary Administration, we felt need to issue this memorandum to clarify certain subjects and explain the reason behind this decision.
Due to the downturn in the overseas property market it is with regret that there was no other option than asking for voluntary administration to take over and try to restructure based on the current market facts. The problem was not directly related with Parador Properties or its Management as the economic situation in England where we generate our leads changed dramatically since the last quarter of 2007.
Voluntary administration is often a route taken when a business starts to get into problems which may be able to be sorted so that it can continue to trade again later on it's own. The administrators may just run the business as normal whilst they look at all options.
It is often the case that the biggest companies get hit first with downturns. As you may recall this is happened before in UK with Wimpey, Barret…etc. However, we strongly believe that the market and business will come back again.
For our clients who recently completed or will complete; we would like to first clarify some subject and recommend which action needs to be taken;
Firstly, we would like to re-emphasis that this situation does not affect property purchases by any of our clients, as all contracts were made between the individual client and the builder; Parador Properties acted only as an introductory agent.”
Until now we have followed the developments in general and check the construction progress. However from now on;
Please act as advised regarding the below issues;
Completion Issues (Completion Visits, Snags, Military Approval, Title Deed transfers…etc.)
Please go through your Sales and Construction Agreement, it is the legal document summarizes the obligations of both parties. For any question related to these subjects; please directly liaise with your builder and/or solicitor. The contract is between your self and the builder which defines the terms and conditions apply. Your Solicitor via Power of Attorney can act on your behalf and help you to complete your purchase process.
Sales Promotions (Furniture, White goods, Vouchers, Cash Backs…etc.):
Unfortunately, as Voluntary administration frozen all the bank accounts we can not be able to honor any sales promotions.
Please apply in writing to our UK Head office (see the below address) to become a creditor and you will receive a reply in due course.
Owners Club Services;
As we have set in our initial letter to you (Congratulations Letter), our After Sales Services is only available if you pay a defined fee to become an Owners Club Member. Therefore these services were made available for only our members who paid to join to the Owners Club. For the rest of the clients who choose not to become a member since beginning we only acted as an introducing agent and ask them to deal with the parties involved directly.
If you became a member, there can be two situations;
If you already moved in, this means that Owners Club Services is completed as our service to you starts from the very first day you purchase and finish the day you receive the delivery of your property in another word you move in. Therefore you have completed your membership however you can still enjoy the advantages to become a member via Owners Club Discount Program in Local stores, restaurants and so on.
If you are not completed on your property you can apply in writing to our UK Head office via below address to ask some refund depending on the duration of the services you have received, and the time left for completion.
Parador Properties,
Parador House
20, Clarendon Road,
Redhill,
Surrey RHI 1BW
We trust the above information is of assistance to you. Please contact with recommended parties if you would like to get any further information or for your queries regarding this matter.
Unfortunately, due to After Sales Team being made redundant we could not be able to assist you on these subject any longer therefore please do not reply this e-mail. We rely on your understanding and apologize for all the inconvenience caused.
Yours Sincerely,
Parador Properties Turkey
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