Can anyone help

Hi my name is Keith

                                  I am a new member and bought on phase 1 approx 4 years ago from Macanthony Realty for 193k euros.As you probably know the development was very  late.When I bought the property i paid 61k euros making it easier to get a self cert mortgage which I am now told will be a problem due to the global mortgage problems.The licences I believe were granted in Dec 07, this would make the delay over a year late so I have not completed. I have asked my solicitor wether I can canel and she said no beecause the licences have now been granted so its too late.I have never been advised that there was a cancelation period by Macanthony or my solicitor which I dont feel is legally correct.The developer has offered a verbal discount of 7% which I have refused.I dont know how I stand legally can anyone help me.Regards Keith.

Which block are you in?

i bought through mcanthony also... i never had the option to cancel either.  i fear you will have to proceed.  put the knee on them, i forced them to bend my way on a few things.  watch out for the double iva tax, refuse to pay it and promise to go public.  go straight to the top. if you require a name or number for reaching one at the top i can provide. 

i gave up accepting any promises from them upon completion and found i had to do everything myself from then in.  do not pay them money for clean or lock change.  snagging either. 

suzanne.

p.s. apart from all that i am blissfully happy with my place.  its the best thing i have ever bought and you wont be disappointed

block 15/16 not sure which

Hi peps,

          If its not too rude to ask can you tell me when you bought and how much you paid? and was your solicitors Martinez Echevarria?no problem if this is too personel.

yes, i've sent you a message with relevant information on.

Thanks very much to evryone for taking the time to reply, I am just waiting for my pm activation to work and I will be in touch to all my pm's

does anybody know how long it takes after registering to recieve my pms.i did it yesterday (saturday) and still it wont let me access them

Harbo

Like bobludgate we too decided to pull out after 4 years (see 'Signing off' 14 Jan 09) and cancelled at the end of Oct 08, receiving our money back in the New Year. We were block 7 and the block did have the licence but it made no difference, the insurance still paid.  We bought from the developer so our name was on the insurance policy.

I don't think your block has the licence yet.

If it is of use I uploaded a plan of the development in 'photos' on 12/10/07. It is in that position but dated 1 Jan 07 for some reason.

Per

Hi Per

        I didnt buy direct from the developer and what insurance did you have? my solicitor has said the licence has been in place since dec 07.

Harbo

The insurance was taken out by the developer on behalf of the purchasers to insure against the highly unlikley possibility (sic) that they would not deliver on time. On time in this respect means up to 8 months late. As the contract stated 31 Oct 06 for phase 1, by 30 June 07 they were in default and the insurance was activated. They used several different insurers, ours was ASEFA and according to our solicitors, one of the more prompt payers. The licence was granted at the end of 07 for 6 blocks, not including 15 or 16.

Per

Per

      as i bought as a re sale will i still be covered?

no harbo... you have no cancellation rights whatsoever as a re-sale buyer.  original contract purchasers only.

Harbo

Sorry. I logged off after sending the last one. I think Peps is right you won't have the original insurance policy in your name. I suspect your grievence might be with the people you bought from, ie. the previous 'owners'. I am not a legal eagle so I'm not sure.

Per

Hi Peps,

I've send you a PM if you have any information it would be great.

Harbo, you wont gain anything from going back to the person/agent you purchased from either.  They 're not responsible any more.  The Purchase contract has been signed over to you now so there is no bank guarantee on that apartment now.   You have to re sell yourself (at a loss probably at the moment) or go right ahead.    Look forward to it... you wont be disappointed honestly.  It actually takes the option away for you and forces you to stick with it, which is what you always wanted in the beginning.     It is possible to change to one with the licence remember.

suzanne

Surely Im entitled to compensation from the developer and could I take them to court for my money back.

you should still get  compensation.  I got some compensation,  although i understand from lots of friends out there that have completed and moved in that they didnt.  Dont understand why some did, some didnt.  I do think that everybodyes deal is stacked up a different way depending who bought when and through who etc. 

Think you can take them to court if you have the bank guarantee and they refuse.  But as you havent, you would be taking them to court for being so late completing but without a guarantee.  A lot of money and a lot of time.  Speak to Martinez and see what they say.  They should get the compensation for you.

Suzanne

How much compensation do you think is fair?