Antequera

I asked MRI a couple of weeks ago and they said there was no news.  I think I'll email the nice developer again!  I'm seeing reports that Murcia isn't suffering the market downturn as keenly as some other areas, so if Lorca ever gets built we might be okay.

Best wishes,

Dixie

er - my spanish isn't that good!  Translation?  I've just emailed the developer so it will be interesting to see what he has to say.

Cheers,

Dixie

Hi, I've just had a reply from the sales guy at the developers.  Its a long email, but essentially he is saying that the development has been given its definitive approval by the council and is now awaiting the signature of the new Mayor, who will be 'installed' on June 16. Apparently they could begin work on the infrastructure in the Autumn and start buiding the Las Adelfas apartments towards the end of the year. He also says that he will be updating all clients in the next few weeks.

So - at least we know where we are up to. 

Cheers

That's interesting because the developer's rep told me two weeks ago that they had met all the requirements from the council and should have the building licence about now.  I will contact him again.  It has been agreed that I can have my deposit refunded, so if there are any more delays I think I might just do that!

Thanks for posting the update

Ann

Can you advise on how to go about getting my deposit refunded? This is my first foreign project.

Hi Coco

Firstly you must have a contract which states a completion date, if this has passed by more than 3 months you can request your money back in full, your solicitor will do this for you. I am assuming you have not used the solicitor recommended via the agents! Have you got a bank guarantee? very, very important you have this and that it has not run out as it will be invalid.

If you do have a bank guarantee that is due to run out, you should request a new one 30 days before the old one runs out so you are never without a BG as no guarantee = no security. If you have not got a decent solicitor I can recommend a few good independant ones around the Lorca area who may be able to help.

The BG should be the original document and when that is due for renewal you have to hand back the original document simultaniously. A good solicitor is worth their weight in gold as things need to be done in a certain order. Hope this helps.

Either this site is up the creek, or my laptop is!  Just posted a reply and lost it!

What does your contract say Coco?  Mine says I can request a refund if the building licence hasn't been granted by 29 Sep 2007 - so its not linked to a completion date.  KP is right about the lawyers.  The MRI recommended ones have been hopeless

My solicitors (Rec by MRI) are still waitng to hear from Cornelius re a refund from the developers.  Doubtful about the project carrying on now. Looking at changing solicitors now since it  appears alot more complicated than I had thought.

Received my refund of the 15%  ,plus legal interest today.

Not sure what's happening with the development - just pleased I have my money back!

Dixie

Hi Coco, as your contract had the same clause as mine regarding the Sept 29th date the developer will have to refund your deposit.  I don't know how many buyers have already been refunded, or how many have requested it, but I guess the developer must be worried about having to refund all this money.  I don't know whether the building licence will ever be granted for Lorca Golf, so eventually everyone will be trying to get their money out.

I assume you bought through MRI?  (Utterly useless company.)  If you are using Martinez Eschevarria lawyers this is what I had to do:

send a fax confirming my wish to withdraw from the contract due to the building licence not being granted by 29 Sept '07.  The fax had to include my signature, name and address and bank details for the money to be paid into (you don't need a spanish bank account)  If there are joint purchasers you both have to sign.  Their fax number is +34 968 409 086

send the same fax to Cornelius, but his fax number didn't work so I posted his!

Post the original bank guarantee (having taken a copy) to the lawyers, by recorded delivery so they have to sign for it.

Fernando from the law firm then met with Cornelius and exhanged the bank guarante for a cheque.  He then paid the cheque into the firm's account and arranged an electronic transfer into my account her in England.  Once Cornelius's directors agreed to the refund the process only took eight days. You shouldn't need to employ another lawyer - you have, after all, already paid upfront for Martinez Eschevarria to represent your interests. Cor did try to prsuade me to hang on, but once he realised that I wasn't going to take no for an answer it all happened quite quickly.  Be firm, and keep emailing them!  Let us know how you get on.

Best wishes,

Ann

We too have had our fill over the Lorca debacle! It's been going on now for 3 years, and the time has come to pull out. MRI have proved to be useless at keeping us informed of progress, or rather lack of it!

We aim to get our money back and buy in Sotogrande.

I think that is a very wise decision in todays market, don't buy anything without all licences and completed. Still no work going on at the moment.