Help/work/driving offered in exchange for accomodation

hi there everyone I am new to this forum but wondered if anyone out there is having the same problem as me 
last year august 2007 we cancelled our contract for a property on phase 4 due to the developer being in breach of contract which was disappointing as we had stayed many times on the site renting other apts for our hols but  due to a change in personel circumstances was for the best ( a company went bankrupt owing us a lot of money)  since then we have been told month after month to expect a refund this has been going on for months and we are still no further forward has anyone else got this problem or had a refund or can anyone offer any advice should we change lawyers??? ours is currently lawyers of spain .

Hi Ang,

The fact that it is lasting over almost a year means that the developper is dragging his feet. Maybe your lawyer can activate the bank guarantee which I assume you have, this would put pressure on the developper to move more quickly.

Good luck,

Lweld 

Ang

We cancelled our contract last March/April and had to wait till March this year to receive our money back, we also received interest and due to the exchange rate moving in our favour turned a nice profit even after paying our lawyer. We used Lawyers of Spain and at times felt they were not acting in our interest. We were proved wrong as they did eventually get our money back. The developer is the one holding onto the money, especially due to the credit crunch.

Hope this helps

Would be interested in exchanging information with anyone regarding this refund. We have been waiting and waiting for our refund. We were first told it would be by Xmas last year, then March or May this year and to date we have not heard any more. We are with Layers of Spain and have now started legal proceedings against the developer, we have been advised that this could take upto 8 months

Would be interested in exchanging information with anyone regarding this refund. We have been waiting and waiting for our refund. We were first told it would be by Xmas last year, then March or May this year and to date we have not heard any more. We are with Layers of Spain and have now started legal proceedings against the developer, we have been advised that this could take upto 8 months

For your information the developer does not hold the money.  The whole point of a bank guarantee is that an independant bank financing your phase holds your money.  If you envoke the bank guarantee when there is an unaceptable delay and before the occupation licence is granted you are entitled to a refund +bank interest.  This process should take approximately 6 weeks at most. 

hi everyone as anyone used european legal solutions in there purchase?

if so has anyone used them in cancellation of property?

if so how long did the process take      thanks  clare

 

mmmm we too are awaiting refund due to delay .... also used Lawyers of Spain. It is almost 1 year we have been waiting. We regularly send email to Lawyers of Spain re progress and response is they will notify us when they have received money.

Think its time to send another email .......

mmmm we too are awaiting refund due to delay .... also used Lawyers of Spain. It is almost 1 year we have been waiting. We regularly send email to Lawyers of Spain re progress and response is they will notify us when they have received money.

Think its time to send another email .......

Hi, Did anyone explore a re-negotiation of price with the Developer? Maybe considering current market conditions, they'll be willing to re-negotiate. I am still interested in closing on my purchase in Arenal but would like to re-negotiate the price.

vwderby I used Europeam Legal Solutions and have received a full refund with interest. Patricia delt with the case.  The process took about 5 months.  The hold up was not with E.LS but the contractors.  They kept me informed most of the time and are very efficient.

hi - i "own" phase 4 block 3 and requested a cancellation in april of last year - Lawyers of Spain again - they did not invoke the bank guarantee as the developer was offering higher pay outs and had been issuing some refunds. But not mine - as of today Lawyers of Spain advise that the bank guarantee is no longer valid as an occupation licence HAS been granted - so IF you want a refund invoke the bank guarnatee as fast as you can - do not wait until its too late as I found out.

My option now is to sue the developer - for which Lawyers of Spain want 6000euros plus VAT- I am devasted by this whole process - So if anyone has any suggestions I would really appreciate hearing them - also if anyone has initiated suing the developer would appreciate understanding what you have been told the process is - thanks

 

This message was last edited by juniper17 on 1/7/2009.

Hi Juniper, I am sorry to hear your news.  The developer paid me as stated previously only because the habitation license had not been appliied for, once I was paid I had to sign a contract stating I would not request further money off them.  Have the developers released the prices for Arenal yet and  are people trying to resell properties on phase 4 at a reduced price.  If so could you pm me as I know someone who is interested in purchasing a distressed apartment..

 

Hi Sef - to be truthful - I am struggling to find out anything about what the developer is trying to do - I had been told by my lawyers that the developer was willing to offer a deal on the price - but then nothing! I did have a buyer at a reduced price for my apartment - but then because the developer failed to deliver on time lost the sale. On the property website I only see the apartments being offered generally at around full asking price - What is your friend willing to pay - as aparently only I can approve the resale of my ground floor apartment?

Im not sure what she wants to pay but I am aware she has been looking at distressed properties with the view of getting a bargain.  That might not suite you as you may be at a loss but if you pm me the details I have no problem passing them on.  To be honest  if you cant off load it you may have to look at long or short term rentals until the market picks up to cover some of your costs.  It was really unfortunate that Arenal went bust as it has had massive implications for a lot of people.  I was fortunate to get the refund as I may have struggled given the delays and the exchange rate.  I have a friend who has two apartments on Arenal and she is very happy with her purchaes.  She has one on phase 1 and on phase 3 also.  Arenal is in a good position so rentals shouldnt be a proble.

SEF: Hi, I notice from your response below Sef that you have had refund - we are still waiting but hopeful. How did you transfer money out of Spain and back into UK Bank account? We are worried if large amount of money appears in bank account - UK tax man might want chunk as they may see as capital gains .......?????? even though it isn't ......

Your thoughts appreciated .....

 

Regards, Allimal

Hi Allimal

You can use a  currency exchange service such as Money Corp or X.E I was fortunate that when I exchanged my money the rates were in my favour, unlike today.  You can register with the company and find out who will offer you the best rate.  Because I remortged my house to finance the property abroad the money refunded went back onto the property in England.  So it wasnt an issue.  Hope all goes well with the refund.

thanks for info Sef. Yes we remortgaged and when lawyer gets money back we will ask to transfer funds direct to UK bank - and then as yourself pay back to mortgage!

Regards

 

 

 

Hi, finally got refund of deposit on Phase 4 Block 6! It has taken 1 year since we last requested pull out of purchase due to delay. We had refund of deposit plus interest. The good thing is the bank rates are in favour at the moment as it takes less euros to transfer to sterling! .... but obviously not the other way and purchasing property overseas takes more!

We used Lawyers of Spain in Fungerola (dont think thats spelt right!) and travelex to transfer money.

Best wishes to those seeking pull out of contracts and those going ahead with purchase - either way is a win situation for the choice made.

Regards, Allimal

I bet your relieved allimal, sounds good that you have got rid of the worry/problem.