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I believe the new building to go up may be the clinic. It looks like more and more of us are taking the same decision as Mimmie and not proceed with the purchase. What a sorry state of affairs. It all looked so promising and exciting at one stage and now we are left with nothing but an empty void. Even if the work on the site picks up in September I am not sure that I trust or want to do business with agents, lawyers, and developers who leave us hanging out to dry.

Alan

i'm gutted and don't really know where i stand.  lawyers and mri don't seem to be offering any support.  

Mimmie, if you bought a re-sale like us, what is the situation in cancelling?

suzanne

x

Hi Suzanne

I really do feel for you.  I am sure we are not in the same situation as you as we only came on the scene November 2006.  We were just about to complete a couple of weeks ago when we found out we had to pay an extra 7 percent transfer tax over and above the 7 percent IVA and 1 percent stamp duty.  For us this caused a problem and the owner wanted out of the agreement so he could get his deposit back.  Luckily for us we had only parted with our deposit not 30 percent like I think you have done.

However we have just returned having looked at an apartment in Duquesa Village.  Whilst the position is not as ideally placed as Arenal Duquesa with regards to sea shore, the apartments are, I think even better than Arenals and the terraces are quite a bit bigger as is the lounge, kitchen and utility, so hopefully we are going to transfer our deposit and regrettably walk away from Arenal. 

I am sure you will have your dream apartment in the end, but I think it will take a while yet - I understand your concerns and keep my fingers crossed for you.

Regards M xx

yes mimmie, we have paid over 40,000 euros and only paid last november.   we think that maybe we not in a position to cancell.  paid 115,000 for ours and original seller will take profit regardless.   its very frustrating.  if we cancel i wonder if compensation will take into account what we have paid.  we almost bought on duquesa village but decided was too far away for us but so wish we had at the moment.  i hope it all pans out for everyone but getting grimmer every day.

thats not to mention the furniture we have paid for

suzanne

Hi Suzanne

We did in fact offer to pay the 30 percent, but our lawyer wouldnt let us at the time and suggested that we pay 100 percent on completion, what a stroke of luck for us.  I think we have a good lawyer, although sometimes frustrating because we hear nothing.  Are you being asked to pay the extra 7 percent? Our lawyer tried to get us off the hook all ways, but the developer wouldnt hear of it.  Like you we have already paid half of the furniture package. 

However, we are with ADH and I must say that to date they have been very good and were prepared to give us our deposit back if we didnt find anything to suit us.  The laywer was also trying to be helpful with regards to her fees, as she had obviously done a lot of the work regarding searches etc.

I must say it does make you a bit hesitant, once bitten and all that!!

On a happier note we did have the good fortune to meet up with Smiley in Marbella.  Under that hard looking exterior he is a proper softy and his dentist has done a good job on the teeth since his picture was taken - hes not such an old croc after all!!!  Anyone looking for a mortgage should contact him, as we found him extremely helpful - thanks to EOS.

Take care, M x

we paid the deposit and the 30 percent within 30 days.  we now have outstanding balance of 180.000 euros and have mortgaged this subject to completion. however, if we cancel i am not sure we will get anything back. our lawyer says we don't have option to cancel at this stage because we transferred original contract from original purchaser.  therefore, they have made a profit and we stand it.  its horrible to think that you find somewhere, you have worked to have this dream but the constructors can just ruin everything.  i was very positive last month when i was out there and prepared to just wait for my new home but now i am in a situation that i have no choice but to wait i am very frustrated and feel completely conned.

i'm glad for you that you found a way out and your situation is better

suzanne

I agree Suzanne, I think you are in a bit of a pickle and dont see how you can cancel at this stage.  I think you will just have to sit it out.   I would be very worried if the apartments were still under construction, but as they are already built I think eventually the outcome will be good.  Like us I expect you thought completion would take place in January, then March and so on..........As we are "recycled teenagers" we really dont want to spend our time waiting, we want to get on and live the life so to speak, thats the only reason we have opted to move on.  Who knows perhaps when things quieten down we may even move back down to Arenal!

Take care and good night to you. 

M xx

Suzanne why don't you speak to Maria de Castro the lawyer that contributes regularly to this site?. She may be able to clarify your situation. Her email address is below.

Alan

Maria L. de Castro

Lawyer

www.costaluzlawyers.es