Nightmare's End !!Deposit Refund

We 'bought' in June 2006 one of the first Phase 3 Flats to the top of the hill looking down 18 with the Clubhouse a stroll away, taken in by the glossy and DeVeere standards and European Tour winter plans ! Not so naive, as a banker, we checked out the Company, insisted on Bank Guarantees and got an independent solicitor. Plenty communication when they wanted the deposit and subsequent payments, then nada! Were we kept informed? Did we receive notice when work started ? ( The foundations and initial structure work is there,we photoed it as proof they had already breached the contract !) Were we informed when they decided to STOP ? Nope ! Was the original Solicitor in cahoots ? (most probably)

I didn't expect the lies, blank looks and shrugs or downright ignorance over the past 3 years ! In 33 years of banking I'd never heard of a Bank, anywhere, refusing to honour its own Guarantees !! I'd heard of plenty developers rip off their clients but unlike these smooth operators who 'negotiated' refunding the deposit which legally wasn't theirs. After the golf buggies and pro shop fiasco recently we'd had enough !! We cut our losses and had 15k of our Euros extorted so that we could get our own money back. The clearest breach of contract you could ever see. Courts that wont progress and a legal system that makes it up as it goes along ? Thank God for the exchange rate ! we got out with our sterling intact virtually broke even,  sore at the lack of compensation for all the time effort and stress caused.

We still feel the place the plan and the propects long term exist ! We couldn't stomach the thought of relying on the developer delivering anything in the end. It still took one month! from getting the legals signed for the money to clear the Spanish way before we actually recived our refund. No reasonable explanation given why it took that long either !

We weren't speculators, bought a single unit, wanted to live a comfortable retirement in a beautiful setting with sport we love on our doorstep. Best of luck to those that have settled! I for one sadly think you will need incredible resolve in the short term and a very long term outlook. I for one have resolved never to buy overseas again, once bitten........... 

How sad!

Happy ending!!!!!!

Good luck.

that made me sad for you, but I understand your frustration completely.. We are hanging in there and have completed 2 years ago and love the resort, if we get what we all thought we bought into the place I dont think there is a nicer place to spend time , shame you wont be with us..but we are in it for the long haul and once we had bitten for us we felt no turning back,.   

Matt and Lynn,

DITTO...........

Hope to meet up with you guys....

I am afraid your story is an all too familiar one - not just at Corvera - but all over Spain.

Many of the Banks and Savings Banks have repeatedly acted contrary to Spanish Law, LEY 57/68.

The tactics used by the banks are shocking.

I am pleased that you can finally put this nightmare behind you and move on with your life.

Unfortunately, many of us are still 'living the nightmare' caused by the corrupt developers and negligent banks.

Our inalienable rights (caracter irrenunciables) granted by LEY 57/68 have been totally violated by the actions of the Banks.

They must be made to accept liability and pay for their negligent actions.

If you have not already done so, please join the Bank Guarantees In Spain Petition at:

www.bankguaranteesinspain.com

KInd regards

Keith

Dear Keith 110,

Good luck with FINCA  Action Group.....

At Corvera we did have the bank Guarantees......

It was our choice to go through with purchase or fight the developer or the Banks and so on........

Unfortunately, economic times have really put a damper on any growth and we suffer (including developers).