Bank Guarantee?

Hi, I'm in Block6, just on the point of completion after 4 years, apparently we should have all recieved a copy of the Bank Guarantee document we were told about at the beginning, which safeguards our money. apparently its called Aval, and should have come from the developers funding Bank...Whoever they are!...Which is where our money is ..  I think!...     I can only remember being told about it,4 years ago.  Has anyone recieved a copy?

Roy

Hi Roy,

No we haven't received a copy of the bank guarantee - as a matter of fact we have received absolutely zilch with regards to any information from OVP.  I'm glad someone else out there is as much in the dark as we are.  We have just asked GV&A to push for completion for us in block 7 as we've waited this long we might as well complete without the habitation licence and to hell with it!!! I can't believe that we've put up with this rubbish from OVP for so long - must be bigger mugs than we thought.  Anyway hopefully everything will seem a distant nightmare in a years time.

Keith & Jenni

Hi Roy,

There  was never a bank guarantee for this development so I think we have all been foolish. However the IVAL protects the purchaser in the event that the property is not built for whatever reason but luckily ours is built so it makes no difference now. I completed in July and have just spent 2 glorious weeks in my apartment. There are loads of apartments up for sale on there. I am optimistic that next summer this complex will be up and running properly with the LFO in place and we can all relax. Good Luck with your completion.

                                         Caz