The Smiley & Rixxy (& friends) outlet, go for it .. in here guys.

Hi,

My understanding is that according to law, if the buildings are not completed on time and the bank guarantees run out, the developer has to fund new bank guarantees. This has recently been confirmed by the aftersales service at MacAnthony. However, I will now get confrimation from the solicitors, through MacAnthony, and get back to the message board.

Stewart, could you clarify your observations regarding Peralea. If you have experience of other developments, for better or worse, it would be useful for us to know.

Ash

Ash

The differences I refer to are the advanced state of the project. We visited both last March and I was blown away by the Peraleja project because the golf course was laid out and you could really see how good it could be. It also has the advantage of the lay of the land, there is real character to the area and the course follows the contours. Whereas I can imagine that Corvera will be a lot flatter (these are my own personal views). When we first visited the show houses at both sites were just completed and again, Peraleja seemed to be of a higher quality. So we eneded up buying one on each! Corvera as an investment because it seemed to be recommended highly, and Peraleja because I felt it was 'right'. Time will tell which was the best decision?

Stewart

Hi Agfox, sorry for delay in replying - just got back from a week in Murcia - all looking good.  Our solicitor finally gave us the go-ahead to make the second payment at the end of April on the strength of a written guarantee received by her,  from Corvera, to the effect that the bank guarantee will be renewed before expiry.  She now seems to be satisfied that this is OK.  It seems to be the same sort of letter that others have received.  

Just to say that my solicitor also confirms that new Bank Guarantees will be provided by the developers, replacing any that have run out.  He also says that building licences should be issued in the next 4 weeks and that projected date of completion phase 1 is second semester of 2008.  Hope that this information reassures people.

thanks for the good news on the guarantees guys.

Hi there!

We were having some problems with bank g. so we decided to instruct a lawyer to act for us. With her help all went straightforward... There is some useful information on her website( lawyerinspain.com)

Cheers!