enquiry

Hi,

Just wanted to hear from anybody who is still awaiting payment of refund of fees because they decided to pull out.

We have been waiting a long time to receive our money back and wondered if anyone else is in the same position as us?

We decided not to go ahead with our purchase on arenal duquesa and were given the option to cancel.

Seems like a long time ago now and I wonder if we will ever be reimbursed.

Hi Casaverde

We cancelled last Dec 07 for our apartment on Block 10. Since then we have received excuse after excuse after being promised refund in 2 months.

It's now at the stage that we are issuing legals but it's pretty expensive - €9000 plus tax, paid 50% up front. This is added to the amount Areanl/Prienesur will to pay us with interest and a 10% penalty that our solicitor inserted.

I'm assuming that Arenal are balancing cash flow, and when the rest of the development is released, they are in funds again.

Anyway, don't care - the only thing that these developers understand is cold hard steel

Hi Will,

Can you band together with others who are cancelling to share the cost?

Paul & Linda.

Hi Paul & Linda

Thought about that but I know from experience it's like herding cats !

We are just fed up with it but we remain so enthusiastic about the development itself. If our apartment had have been ready within a reasonable time we would have been very happy there.

But the appalling customer service from Arse-nal and then Prein-sewer only frustrates us more - we have told our solicitor we will not be negotiating as we have waited 12 months now and are fully prepared to wait another couple of years if it comes to it.

i bought six years ago and put down 50,000 GBP and still have not ompleted or got 1p back.....lawyer says I cant and wont get it back

Hi Will & Marianne,

I agree with you 100%, its been a nightmare and still going on,we keep giving them a couple more months in the hope they will finish the road but at some point we may well be in the same position you are in.

Best of luck.

Paul & Linda.

Hi Mike  who the hell is your lawyer, thats terrible.They should be named and shamed

Andersons...who have been very good but lately useless.....they just tell me I dont have a case as I signed the Habitual license is it?

Excuse my ignorance but why are apartments being sold which are ready to move into but it seems others are still waiting for theirs to be completed years after putting down deposits?

Hi Mike can you elaborate a little? why are you not completing if it is ready,

ok note form Lawyer "The reason is that the Ending of Building Works Deed (“Acta Final de Obra”) is still in the process of being registered and therefore, the property you are being appears as “under construction” in the Land Registry’s certificate and the bank will not sign the purchase deed until it is duly registered"

So as it says this is still "under construction" some banks, LLoyds being one of them wont release funds as technically this building is not legally completed. In the very worse case the banks and lawyers suggest that the buildning could be pulled down therefore wont lend unti this is removed and registered

Mike, and anyone else waiting. Please excuse my ignorance, but have you been offered another, completed property? Or have you made the decision to definitely pull out. I only ask because there were quite a lot still for sale in our block back there in August, and I don't see why Arenal, (or Preisnur or whatever thet are called now) can't offer you one of these. We've had such a great time since we completed.  I really feel for anyone who still wants to complete, and can't. It's not right.

Margo

No Not yet but happy to take the one I had. Problem lies with this point. I do feel bitter towards bank/developer having waited for so long

Yes MIke, I can see why you feel bitter. All I can say is that at this point, we are very glad we stayed in, and I hope that at least offers you some positivity. At least those of us who are in are not saying ":Oh I wish we'd pulled out ,it's horrible"  That really would have been a disaster, wouldn't it? Still, I sympathise........

Mike, I believe that from your previous postings that you are in Phase 1 block 7, which is very complete, and almost fully occupied...you are unaffected by the ongoing road works, which is why you are one of the lucky ones who are legally able to proceed to completion....most confused...

ok note form Lawyer "The reason is that the Ending of Building Works Deed (“Acta Final de Obra”) is still in the process of being registered and therefore, the property you are being appears as “under construction” in the Land Registry’s certificate and the bank will not sign the purchase deed until it is duly registered"

So as it says this is still "under construction" some banks, LLoyds being one of them wont release funds as technically this building is not legally completed. In the very worse case the banks and lawyers suggest that the buildning could be pulled down therefore wont lend unti this is removed and registered

Please read sting on issue with contract around completion...bank wont lend money.

There is a problem with The Town Hall the development is not registered at this stage and  completely licenced. We receive no mail from Cerroes as the Town Hall have not adopted the development and allocated road names consequently we will receive no council tax either. Mike I am assuming that you are mortgaging with Lloyds and they are being highly cautious and not allowing funds to be released on the development until complete adoption by the Town Hall in Manilva.  The likelyhood of the whole place being bulldozed is not going to happen, I think Lloyds are being over-protective with their funds in this present economic climate and if everything is not in place then it's case of 'No money'.

The road still needs tarmac and there is no street lighting in place, I personaly feel that you are looking at another couple of months, whilst I were there last week no one was working on the road.

yep thats about spot on indeed. Problem I now have is Lloyds and any other bank at max are not lending above 60% of value of property...so if anyone is interested I might be forced in having to sell at a ridiculous price and at a loss.

If anyone is interested suggest they contact me through here and happy to dicuss this with them......

Mike