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Has anyone had their deposit returned from this company. Our lawyer has suggested that we go to court and when we return next month we are lodging a civil action with the office in Sebanillas. Has anyone else lodged legal proceedings? Trouble is this is going to cost us but what alternative do we have. The previous lawyer for the company promised that we would have it by the end of last year but she left and the new one is not very forthcoming.
Are there any others who are waiting and should we make a collective claim to the courts? I am d..... if I will let that company keep my 6000 Euros ( it will be much less with the lawyers fees ) . What happens if I lose the case will I have to pay costs and what is our likehood of winning in a Spanish court? They have renigaded on their promise to build me an apartement which should have been ready in Jan 08. They have offered me another apartment but we declined.
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Others have had deposits returned. Not just the initial holding fee but the first down payment deposit. I am waiting for the return of my deposit. It is supposed to be paid 45 days from the cancellation date. Mine is well over that period now and it is only the fact my solicitor has been on maternity leave that has prevented me getting heavy. However, she is now back and I expect some action.
Alan
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I am in phase 1 but in a block that's affected by the construction of the road. I am told that the aim is to have deposits returned next month.
Alan
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My father-in- law also has purchased in phase 4 - 4 years ago, they now dont know whether to continue waiting until 2009, take another apartment in phase one which they have been offered or whether to try and get their monies back.
If they were to go for the latter and cancel - what is the best way to go about this, and what if any is the likliehood of having the money returned.
Many Thanks Sharon
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Well, if I were your father-in-law I would get my lawyer to insist they sell me an apartment in phase 1 at 140,000 Euro. The apartments are great, the whole development is a good buy and they are selling right now at that price. Failing that, I would sue. I wouldn't mind betting that on receipt of a court date, they would give you what you want. It doesn't sound to me that they are in a good position to fight. They wouldn't be selling apartments at that price if they were. Margo
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Yes the apartments are on offer at €140,000 although I have just received an email to say the offer will be withdrawn on Friday evening 3rd October and they are to revert back to €220,000. I guess that answers all the questions of pulling out and re-purchasing. Unless you're in a position to purchase now you've had it!
Alan
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All
I think its not great in fact I actually think its disgusting the bank have done this, it can destabilise the market i.e people buy at 140k and then sell at 180k for example to make a quick few quid. Doesnt help any one of us who may have wanted to sell (even though we can do liitle )
Looking at the positive it is suggested the price will go back up to 220k by Friday BUT as well all know these apartents are only worth what people will purchase them for.
If this becomes a habit by the bank as they cant shit them at 220k then the long term consequence could be more damaging as people would have bought cheaper therefore could sell well below what a lot of us originally paid for them.
Apart from PI who had these 6 would anyobe know if you went to any othe ragent what price you would be quoted to by one?
Just some thoughts
Mike
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Mike I agree in principle with what you say but I have always believed the market will find its own level. People will only pay what they think a property is worth (to them). OK you could say the properties are worth €40,000 less now than they were a few months ago but in time the market will change and they will be worth more. The only thing is it will probably take some time to recover. Anyone buying at the promotional price with the intention of flipping it for a €40,000 profit will find it very difficult indeed. Nothing is moving down there at the moment.
As I have said before I don't think people purchasing now should be doing so purely for investment reasons. It is a lifestyle choice so if you have already bought enjoy it because the price you paid was obviously right for you at the time and presumably you are not looking to sell quickly.
I am out at least for the time being. I have just had enough of all the uncertainty. Maybe things will settle down eventually then I may take another look.
Alan
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Mike, healthy debate is what makes the world go round! However, I do believe that buying a property is unlike purchasing most other things. People buy into property for varying reasons. Some it is purely investment, for others purely because that is where they want to live. Probably for the majority it is a bit of both. I am by no means an expert on property or investment but I do know this, Over the years buying and selling properties I have made silly offers on properties I quite like and if the offer was accepted would put me in a good financial position. On other occasions I have made a substantial offer because I really want to live in that house. Of course the lower the price we buy at the more we are likely to make because we all know that property over time increases in value. But buying a house is an emotional decision tempered by financial common sense (or it should be).
Anyway we will all have different views on it. it would be interesting to hear others.
Alan
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I got my deposit back on a top floor in phase one. I finally got the money back at the end of 2007 plus interest after claiming on the insurance guarantee. I paid 170,000 for a top floor unit with good orientation. I have just visited the site. I do think they look well finished although somewhat high density. The social housing on the road is larger than I was previously told. They are not worth 220,000. I think that 140,000 is the more likely market value. You must remember that there are so many for sale and rent that to get an return on them for the next few years is almost impossible. If you believe the agents and developers after all this time and lies you are stupid! You will live with the other concrete skeletons in the later phases for years to come
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Im going to try and be polite............why dont you go away and take your smart arse attitude somewhwere else.........your not wanted here you or your views.
Does anyone know how we can get this idiot and blocked off this site? We dont need your comments they are not constructive and if your so clever why have you not bought one at 140k
So two words and you can guess what the first one starts with
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