Delaying 2nd Payment

Haven't been on the forum for a while so trying to play catch up. My 2nd payment is due next month and despite phone calls and emails last year I still haven't received a guarantee for my 1st payment made April 08.  I'm not chasing PW at the moment as I don't want to bring to their attention that my 2nd payment is shortly due. The way things are with the euro and delays with the site I would like to see completion of other phases and facilities before I hand over any more money as I'm sure everyone else would.  Are PW on the ball when it comes to the due date for the 2nd payment and how do they request payment - invoice by post/email?

I'm trying to start 2009 with a clear picture of where we're at so can anyone in the know please tell me (a) Which phases have been started and which phases are complete.,(b) What phase are the island properties and when is construction due to start ,(c) What phase is the towncentre, golf course, sports centre etc and when will construction start, (d) Which phase/s if any have been cancelled and why?

Does anyone receive regular updates from their agent or PW and if so is their a link to register for this information because I can't find it?

I would not hand over any more money to PW.  Instruct your solicitor to advise PW that unless you receive your bank guarantee you will not pay up.  We have never received our 2nd bank guarantee and are now trying to recover our money.  PW are not honouring the contracts and still do not have licences.

Jackie

Jackie,

Are you trying to get your money back on the gounds that PW have not furnished you with a guarantee for your 2nd payment or have you also chosen a refund rather than a transfer to another phase? Do you hold a guarantee for your 1st payment? I've read through the contract at great length and didn't consider it possible to try and cancel on the grounds of not receiving a guarantee only. Do you know otherwise?

ewelmedave

We have a guarantee for our first payment but not for the second.  However we are trying to cancel not only because of this, but also because the building licence had not been granted when we started the proceedings.  PW had also refused to allow us to move to another property unless we were prepared to pay considerably more.  Our Lawyer believes that we have a good case since PW have had our money since 2006 and cannot give us a date when the property would be ready.  She has advised us that under Spanish Law it is illegal to have this type of open ended contract where no definite date is given.  It may be worth you emailing Maria of Costa Luz Lawyers for some advise.  Maria is a regular contributor to Eye of Spain.

Regards

Jackie

Thanks for the explanation and advice Jacky which is much appreciated.

ewelmedave