Phase II Status

We have the first two weeks in March in unit 101 of Phase 2. Has anyone been their recently that can tell me the status of Phase II and any current information on the Golf Courses?

Hi There We just got back 2 days ago and a couple of the phase 2 homes had people in them. Construction is underway and while we were there over the holidays, there was clear progress being made on the homes. The update we got on the golf course is that construction is beginning, and they are saying 2011 for the opening, but we were told 2010 last year, so until there is clear progress, I don't think there is a solid date.

The Montecristo Clubhouse is under construction and the market down close to the entrance to Sunset Beach is almost done. They need to finish the interior.

Hope this helps.

Question: If your contract states the last two weeks of a certain month ( in our case January), what dates are you guys given? As example, if the month has 31 days in it, are you given the check-in date of the 15th, 16th, or 17th? What respective dates are you given to check-out using the dates above?

We are going to our Phase II unit during the last two weeks of January, and will give a report and try to upload photos for everyone.

I just happen to own the first two weeks of Jan and I was given the dates of Jan 2 - Jan 17 for occupancy! They told me it was so that people who spent New Years Eve there didn't have to check out on the 1st of Jan!! Imagine that eh!!

If you are a new owner just wait, as it will get worse. If you have only paid a down payment my suggestion would be to not make any more payments and cut your losses. Or, buy on the secondary market where you can get a 60%+ discount.

But I have $25000 down already!! Is there any way to actually get out of this and get some of that back? You know the old adage--buyer's remorse! Didn't really hit until we were back in the snow again! And I was also under the impression that this deal was for ownership--in other words--for life. Can somebody help me at all? Thanks in advance--

I am in the process of taking them to court in Mexico City in order to get all of my money($86,000) back. I will let you know how it goes. My attorney has been successful in getting all of his previous client's money back from Montecristo Estates, so I feel confident I will as well. These crooks need to be taught a lesson that they can't lie to us and use the small print of the contract to let them do so. The place is beautiful, but all they need to do is be fair and they would be a lot futher ahead.

When is your court date set--or when do you actually think you will have this resoIved? I have the big payment due in 15 days--and from what I read on the internet--you never do actually receive a deed to this property--and if I don't make the payment I lose all rights to this property and to my down payment!

It is hard to tell as things move a lot slower there. However, I doubt if it will be that soon. Remember, Manana doesn't mean tomorrow it just means not today :-) The best thing I could have done was to walk away from my original down payment or bought somewhere else and gone to Montecristo Estates on an exchange.

We spent the last two weeks in our new Phase II unit. The upgrades from Phase 1 are all very positive, with a larger and better designed villa. The Montecristo clubhouse could be done upon your arrival. Many of the units in Phase II on the upper street are complete, and there is lots of activity on the lower streets, with many of those units finished or in the process of being completed. The Ritz Carlton oceanfront model is done and is open for touring. The golf course had not been started, and my guess it will not commence until the economic conditions change. Montecristo Estate villas are still selling though. In the meantime for golfers, a new Davis Love course has opened just to the north of Pueblo Bonito called Diamante. It's a fabulous course, set along the ocean in the sand dunes with great views. Its not cheap, but you can get a 10% discount if you show proof of your ownership in the villa. I think it's the best course in the Cabo area. it's about a 20 minute drive from Montecristo.

So it sounds as if this golf course will not be completed for some time--which kind of negates the reason I bought here! Would anyone with any idea of how to get my deposit back please contact me at ytlady82@hotmail.com. I would really appreciate it! And, after all, I just received a letter from them saying the tax rate had increased--therefore, the cost of my unit increased approx $1500. To my mind this should negate my contract seeing as they are changing the terms--however, who knows how this goes in Mexico. Any ideas?

Fayes25, We also would not have purchased here had we known the course would be delayed as we have a golfing family, and quite honestly, Cabo is not diverse enough to explore and enjoy for repeatedly frequent visits. In otherwords, without golf, it becomes VERY boring for us after a short while. One of us is an attorney, and after some research, there would be difficulty getting your deposit returned from what we've determined. Your best bets may be to either sell, or wait it out in hopes that the course gets completed and values rise.

Would you mind emailing me at ytlady82@hotmail.com and sharing the name of your lawyer with me? I too would like to commence action to try and get my $$ returned also! The only lawyer I have been able to come with that is interested is Gonzales and Gonzales. Thanks again for your help! Have a good one--

Have you been able to make any progress in the Mexico City Court system on this? We are in the same camp - with two weeks - we are out $101k+.

davidl557 wrote:

I am in the process of taking them to court in Mexico City in order to get all of my money($86,000) back. I will let you know how it goes. My attorney has been successful in getting all of his previous client's money back from Montecristo Estates, so I feel confident I will as well. These crooks need to be taught a lesson that they can't lie to us and use the small print of the contract to let them do so. The place is beautiful, but all they need to do is be fair and they would be a lot further ahead.

It appears the fellow that was "helping" me isn't and I am now unable to reach him. I tell you, getting involved with Montecristo Estates was the worst thing that has even happened to me financially. They are nothing but crooks. I lost $86,000 to them.