Has anyone got any ADVICE, please???

One of the times that I spoke to the developers I heard something:

there are now (some months ago), about 80 apartments not sold, between the ones which have not been sold and the ones whose contracts were cancelled by the owners (and they asked for the money).

This mean that maybe there are only 60 sold, or even less because more people have cancelled.

For those who asked for the money, the question is:    will be there enough money to pay back to the people who cancelled and asked for the money?

 REMEMBER: THEY HAVE NOT EVEN AN EURO NOW. THEY WILL HAVE MONEY WHEN THEY SELL THE APARTMENTS.

I am not sure yet if I want to buy it or cancel and ask for the money.

greetings to all.

For those who are still buying the apartment, remember that I live near there in case you need any help.

Anybody knows if we can look forward to getting our appartments?

The director of the office of Banco Pastor who has fnanced the development told me ( that is my branch) a couple of weeks ago, the development is being completed soon. She invited me to go and visit it wity her to know the state of the building work. I am so short of time with little Jacobo that am not able to any kind of extraordinary movements but I wish I could...

This message was last edited by markstanley on 1/7/2008.

We have had notice today from our lawyer who has spoken to the administrator who yet again has advised that completion will be shortly. They have said maybe end of the month or Feb. We will believe it when it happens!

Hello

We have just received an email telling us the latest on the Aureus appartments - we are going to contact our lawyer again and see what position we are in regarding our refund now - here are parts of the message we received -  this seems to be good news for those who are looking for completion, let's hope it is for those of us waiting for our refunds!  Any one got anything new on this? Happy New year to you all anyway - Cecile

'New Year, is fresh for you as Bluestorm, the developer confirmed to have received the First Occupation Licence granted by the townhall, which is the most important approvement, during the season holidays now as Aureus are touristic apartments it must have the junta de andalucia certificating the F.O.L (minimum one month). The developper is now fixing and connecting the water, electricity and phone lines into the studios and suite to be ready for when you sign you deed.

We have just received this from our Lawyers

"Regarding Aureus process I would like to inform you that the occupation license has been granted by the Town Hall.

As the complex is going to be used as apart hotel, it is required an authorisation granted by the Andalusia Government in order to enable the company to start with the activity.

This special license is expected for March 2008; therefore once the company has all the paperwork in place it would be possible to start with the completion process and with the refunds of the cancellation contracts."

Lets see what happens in March

Mark

Hi everyone, and a belated Happy New Year.

I have just been contacted by our lawyer, who says that no Habitation Licence for the Aureus complex is due yet.  Many of the original investors now wish to cancel, and that, for refunds to begin, a substantial number of completions are required, as the developer has no money.  The Judicial Administrator's view, they stated, is that refunds may take 'several years', as there are now a reduced number of buyers who wish to complete.

Certainly, this is a blow to us all, although I have been aware for some time that this could be the scenario, with the state of the market in this area, and in general.

I would suggest therefore, that you all contact your lawyers as well, to urge action, or at least to find out the latest, as I feel that ours is giving us an honest appraisal of what is happening currently.

If I hear any more, you will be the first to hear, but I really would counsel caution if anyone is told that refunds will be happening soon. 

Sorry to be the bringer of 'bad tidings', but if this does prove to be innaccurate, then I will be the first to celebrate, along with all of you!

TPRS

Hi everyone,

We've just been given a completion date by our lawyer for early June. She did also say that the licence for the rental activity has not been issued yet with the developer expecting to get this in March or April which is why the completion date is so far out.

Looks like the developer isn't going to get any cash for a while yet if he is relying on this to settle any refunds........

It's only a couple of weeks off our 2nd anniversary of going out to see the complex which was only waiting completion of the entrance areas and swimming pools at that time - patience is a virtue (so we're told)  !!

Phillian