This is copied from a post by v.j. on the Roda forum.
If you have truly lost faith in the developer you may want to think extra hard before selecting your lawyer to take legal actions. V.J. paid his deposit on La Tercia Real, he had bank guarantees and the developer went bust. An open and shut case you may think?
Hi
I have been buying property in La Tercia Real for over 5 years.
only to have the builders stop building, i was fortunate to have bank gaurantee, so pursued the bank for my money.
This was paid to me relunctantly last year, after threatening them with court action.
But the interest on the money,i was advised to sue the developer (Peinsa)
Solicitors told me i would be able to sue for interest on the money,my initial deposit,court fees, and all my solicitors cost, plus any exspenses i would incure.
So i agreed.....well who wouldnt....solicitors took 5000 euros from my money which had been returned from the bank to pursue the lawsuit.
Well wouldnt you!!!! if solicitors tell you you are entitled to 20.000 to 25.000 euros.
I have won court case...with Peinsa...they had been issued 28 day to comply. this was back in November....
But nothing...apparantly they are hooked up to the hills in dept....with no assets morgage free.
But yet again..this week recieved letter from solicitors, that they had met with Peinsa solicitors and come to arrangment,
that they pay me ....and many others in the same situation....2000 euros...and any court fee left.
But Imont solicitors will have had there fee from cliants up front...so what court fee would be left.
Just feel that the solicitors acting for myself and many others in this situatio have sold us down the river.
Are they acting for us or for the developers solictors....as you know ...in spain ....they are all in bed together..
The spanish system Sucks!!!! and we brits are baring the brunt of these laws...and been ripped of all ways.
I feel sick in my stomach, and have lost all trust in the legal system in spain....my dream has been shattered.
I have over the last 5 years lost money , in solicitors fees, bank charges,valustion fees from banks with false promises of morgages. The banks charge for everything. and also gave me no interest on my money in spain for 18 months, this is the money returned to me from bank gaurantee.
This message was last edited by SteveandJane on 12/03/2010.