Anyone considering pulling out?

How many people are pulling out and are you going with your own lawyers or going with Lexland,its hard to know what to do

Carol

Hi Carol

I keep getting told different things by different people.  I am documenting everything and keeping hard copies.  I am going through it all myself as well as all the professionals involved.  Does anybody have a date that the works actually commenced.  This would help out slightly as i still have to find this which is buried deep in my computer somewhere.

thanks jill

Sorry Jill dont know the date.

Carol I am defo pulling out and using an independent lawyer.

Millwall

Thanks Millwall

Carol

Hello All
If the developers are in breach of contract then why should I fork out thousands of euros in legal fees to get my money back ?
Surely the developers should be paying these fees ?
This is another example of the win-win situation these Spanish lawyers always seem to find themselves in.

Millwall
Did you manage to check the fees out with your lawyer ?
Was it zero cost ?
As a matter of interest , what lawyer are you using ?

 Hi Carol/Everyone

We are not pulling out. We were never entering this for the short-term so that may be the difference. The building work has got off to a slow start due to corruption investigations - which was explained to us by our representative. It's disappointing but we all have the insurance to pull-out if we want. Not many developments in the UK offer this let alone a Spanish one. Our expectations were that they would be late anyway - hey it's Spain!

The global financial situation is effecting everyone so it's hardly surprising that no more units at FV have been sold. They will though, once it picks up.

We are however, concerned about the delay to the hotel and possibly other facilities. This is something we will discuss on our site visit at the end of this month.

The price increases are taken with a bit of a pinch of salt. Realistically, any off-plan property should make a minimum of 20-30% over the construction period. This may be affected by current property slumps but if we got that return we'd be happy. If that was looking unlikely, along with the hotel delay, we would be nervous and consider pulling out.

Spanish solicitors are no different to any solicitors in our opinion - good or bad - reasonable or expensive - they all charge loads for doing very little at times.

These are just our views - everyone has their own.

Hey everyone,

I dont understand why everyone is so worried.  I completely agree with musicman, many developments worldwide do not offer bank guarantees and we have one and are fully covered which is fantastic. 

There is a difference between getting your money back and the lawyers fees, the fees are not covered by the insurance company and therefore that why we dont get them back at this stage, but due to the developers being in breach of contract Lexland have advised me that i can claim back all the lawyers fees once they have refunded me and that this would be a seperate case. 

I know it sounds like we will be at it forever but i rather get my money back some day than never at all and as i have mentioned before i am completely happy with the procedure.

Any lawyer anywhere in the world is going to charge you for their work and these refunds are no exception.  As long as the fees can be claimed back i really dont have a problem.

Hi

Lexland have been fantastic in giving me advice and come back to me a day faster than my own solicitor.  Their advice to date has been 100% correct.  My personal experience with them has been great

Hi Mcgarvn

I agree we shouldnt have to pay,But Lexland have told us we will get the money back,

We have a lawyer in the Costa Blanca who has been watching developements very closley since July,

I have emailed her this morning to go ahead and start the ball rolling to get our money back and asked if she can give me an estimate of the cost,we used her when my son needed his N.I.E no and Lexland wanted approx 500 euro our lawyer charged 12 euro,every lawyer will charge thats obvious,but would we defo get our money back and i dont think i could be bothered about a seperate case to get it back.I can send you our laywers email address if you are interested and i also have another address for a different laywer in Costa del Sol who has already started proceedings for people and he has stated the more people he does it for the cheaper it will be.

We are just going to stick with our apt in Costa Blanca and hopefully keep our money in the bank.

Mike

These are the details of my lawyer he is very good as he has no up front fees. He does charge a small fee at the end , I will let you know what shortly.

You can contact him if you wish to get a price, remember you can shop around for prices as you would for a builder!

He has a proven track record with me and i have used him for over 7 years.

Dear buyers,

I would just like to clarify the matter of the fees.

The insurance policy will only every cover the amount you paid to the developers plus legal interest.

No bank guarantee will include your lawyers fees or any other fees apart from what i mention above.

The only way you can claim for your lawyers fees is in a seperate law suit agains the developers as it is incredibly unlikely that the developer would agree to refund this any other way.

We have a department specialised in this field which would be more than happy to answer any queries.

Please contact me for further information.  Tel: 0034.952.77.88.99

Kind regards,

Jennifer Grant

Here is the name of our laywer in Al Faz Del Pi   Costa Blanca

Alex

Alejandra Sartorio Castrillo

Email,   mail@a-lex.es

She is lovely and we have used her many times,selling property,n.i.e nos ect  and her prices are always low,some friends of ours have just had Spanish wills made by Alex and they were impressed with her work prices and attitude.

I have aked Alex  if it was ok to give out her Email address and she said yes,i am just waiting for an approx price but am going with her anyway as we trust her completly,it is worth asking around for prices and different lawyers names but sometimes recommendation is good

Carol

Carol817

Many thanks for the info.
You mentioned the following

>> i also have another address for a different laywer in Costa del Sol who has already started proceedings for people and he has stated the more people he does it for the cheaper it will be

Can you post their details on this thread please ?

I totally agree that as a group we could negotiate a better price if we use the same lawyer.


Thanks also to Millwall for the details you supplied.

I'm awaiting quotes for the work.

Hi Mcgarvm

FIDESO TAX & LAW

65 AVDA. RICARDO SORIANO PLANTA 1a

29600 MARBELLA

ESPANA

+34952771837

if you can send me your email through the PM i will forward the email i have about the above,

There is a couple of people already contacted our lawyer and i think she is going to do the same

Carol

Hi McGARVM

Here is our lawyers full details

Alejandra Sartorio Castrillo

Avda,San Rafael.11local 1

03580 Alfaz Del Pi

Alicante

0034-96.687.60.85

Carol

Hi Carol & McGARVM, i have spoken to Fideso and they have advised that at this stage they dont yet have any Valle Romano clients cancelling

 Lexland on the other hand has told me they have over 190 clients who have bought in Valle Romano and due to this they can offer more reduced fees.

I enquired about there fees and was told that they are calculate according to the Spanish bar association which is the minimum that any lawyer should charge, they also told me that if any other law firm is offering to cancel for less that they would be more than happy to match the offer if that is possible and compling with Spanish regulations. In any case this is not worrying me as explained in my previous posts, as  I can claim all the fees back once the insurance policy process is finished, and im happy with this.

I for one as good as your lawyer may be Carol,  would not like to use a law firm in Alicante when my property is on the Costa del Sol.  I much rathre work with the law firm that has delt with the property from the start and the one who has the most number of clients and therefore more options and power to negotiate with the developers and the insurance company.

If anyone wants Lexlands details please let me know.

Hi London06

Do you work for Lexland? i understood you could get your fees back but would have to claim them back,how easy will that be?

Also my lawyer is in Alicante but all her family are in Costa del Sol and she has them keeping an eye on the developments there,

In any case to be honest i am not bothered so much about getting fees back as long as i get my money back from VR and i am really surprised about Fideso as the person actually phoned me and told me thats the lawyer he had working for him,he even sent me an email with his costs, he was buying an apt and a penthouse so he has a lot of money to get back.

nobody has mentioned yet the availability of mortgages for the Village, so I have been doing some research

we were told 80% non-status would be available - try finding that at the moment

and valuations will also be a problem I think - Estepona is about 3000 euros per metre max, and half-rate for the terracing

so maybe 210k for the average apartment, and 30k for the terracing, most people paid a lot more than 240k I think

cheers

 Hi Goonerfan

Mortgages worldwide are the same. It's not looking favourable but who knows what products will be available 6 months from now?

The developers have an obvious interest to make sure people can get mortgages, especially being a bank but that doesn't guarantee anything - unless they underwrite the valuations. The valuations are my biggest concern. If they have been over-valued to start with we will have no chance of even an 80% mortgage.

Are you also pulling out?

Gooner

Where did you get 3000 per sq mtr from that sounds a bit hopeful to me when in Marbella appartments are only getting 2600. I dont think terracing is as much as half either.

You can still get 70% non status easy enough if you dont already own in Spain 60% if you do.

Musicman I dont hold out much hope that there will be alot more on offer in 6 months.

Millwall