las vistas santa maria

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07 Nov 2006 12:47 PM by Femi Star rating. 10 forum posts Send private message

Welcome to the forum GK and Jellyfish45.

Jellyfish45, this adds weight to the claim Andrew&Angela made about it taking some time to reclaim your funds back. Did you have to go to court to get your money back? And how long did it take before a decision was made in your favour?

The other question I need to ask is why do we need to go to court in the first place? Is this to reclaim costs incurred so far? When we were being sold the property, we were told our deposits are ring fenced and untouchable by the developers and would be returned back to us in such circumstances as we all face. So what's with the delay?

Regards

Femi



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07 Nov 2006 6:15 PM by gk Star rating. 2 forum posts Send private message

Hi

Why do you need to go to court? The bank gaurantee expires Dec 2006 so won't the Bank be returning any deposits?

Gary



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08 Nov 2006 12:49 PM by Femi Star rating. 10 forum posts Send private message

GK,

 I'm not sure which is why I need some clarification on this. Do any of you other guys know the process?

Femi



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12 Nov 2006 5:06 PM by shepps Star rating. 7 forum posts Send private message

Dear All,

Just a quick up date from our recent trip to spain, all the building work has now stopped until the new year. The contruction site has been fenced off and its being monitored by security guards. We have been advise that the developers are in discussions with the local council regards licencing, design issues and the number of units that can be constructed there, to which this will not be resolved until the new year. As for the legal process our lawyers have filed the papers finally after some technical issues on our side at a cost of 3500 euro's, the reason for this is ... we would like to force the developer to return our deposit in full plus the usual compensation now, rather than apply for the bank garentee in december to which that is not always automatic ... it is only invoked once the other issues have been resloved.

Phil

 

 

 

  

 



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12 Nov 2006 9:03 PM by andrewandangela Star rating. 9 forum posts Send private message

phil,

did they give any indication as to wait time on legal action as we are likely to take this road as well



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22 Nov 2006 11:41 AM by Littlebritain Star rating. 5 forum posts Send private message

Hi everyone I have just joined this great site and am interested in sharing some of my experienced with you about Las Vistas

My name is Anthony and I purchased an off plan apartment in Las Vistas de Santa Maria , Elviria in September 2003. I was told that the development would take just under  2 years and would be magnificent. They were waiting for the permission to build a bridge in order to get to the site but otherwise everything was going to plan.

Over the next 2 years I visited Marbella many times on varaious holidays and went to see the progress at Las Vista. Unfortunately I was shocked at the lack of progess over the 2 year period but was assured that although there had been a few problems with the licencing my apartment would be ready in December 2005.

Soon after that I went to Marbella to celebrate New years Eve and heard all about the problems caused by so many developments losing their building licences, I did not realise that Las Vista had lost it's licence too as nobody had bothered to inform me. When I took a drive to the area and saw that all of the cranes were silent and there were no builders anywhere, I realised that things were really bad.

I went to MacAnthony's office and had a meeting to discuss what was going on and to find out what my options were. I was told that I should wait for the development to get it's licence back so that I can receive the flat that I had planned for - and at a 10% discount on completion.

This sounded quite good but when would the developer get his licence back and when did they estimate completion to be? These questions could not be answered as they did not have a clue if or when Las Vistas would get it's licence back. 

I informed Mac Anthony that I wished to exercise my bank guarantee and get my money back as I has already wasted neally 3 years of investment time and interest as well, I was dissapointed, annoyed and felt that I had been ripped off. I expected the refund to be given to me immediately as I had only purchased this property because it came with a bank guarantee which protected my money and promised to return it if the develoment was delivered late or something went seriously wrong.

How wrong I was, I was put in touch with the lawyer that most of us have used and the letters and emails started flying! I soon realised that this was going to be a long battle and the bank guarantee was not what I thought it was at all. I had the option to go to court and pay 4000 Euros up front to the lawyer or try to squeeze my money out of him by using pressure and persistance, or to be prepared for a long and expensive fight. It shocked me to hear that I could lose the fight in court if he put up a clever defence and I may have to pay all of the court costs including his and I may still not get my money back.

I was also informed that The developer was applying for a 4 million Euro loan in which to repay some of his expenses, overheads and investors. This was good news as I now knew that he was not going for bankrupcy but was trying to keep the whole project alive.

 Through persistance and the help on MacAnthony and the lawyer I received my cheque 3 months ago.

Good luck to everybody either trying to get their money back and to those who have decided to hang on and hopefully own a lovely apartment that they were promised - so long ago.

 

 

 

 

 



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22 Nov 2006 12:58 PM by Femi Star rating. 10 forum posts Send private message

Anthony,

Thanks for this very useful update.

Can you shed more light to us on what you actually did. Was it a case of constantly calling and pressuring MacAnthony and the lawyer? or what? 

Also, from start to finish, how long did it take you to get the refund? And did you get the promised 10% interest per annum on your investment?

Regards

Femi



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23 Nov 2006 8:47 AM by Littlebritain Star rating. 5 forum posts Send private message

Hi Femi

As I said previously I started the campaign to cancel my contract and get my money back early January 2006. I went to see MacAnthony and had a long discussion with one of the directors. They got the ball rolling and arranged for the lawyers to get started with the cancellation of the contract.

Yes I did have to constantly email and chase up the lawyer and visit a few times as well. Around April everything went dead and my emails were unanswered so I got on a plane and visited the lawyer to give him a 'shove' and a reminder that I was serious about getting my refund. Following that, things progressed slowly but surely. After all - this is Spain that we are dealing with and they work differently to us !!

It took about 8 months for me to finally get the money into my account and it was a great relief to know that my money was now safe.  Sadly the exchange rate went against me as the Pound was strong and the Euro weak so I lost about £1500 on the currency exchange. Who said that you will always make money in property??



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24 Nov 2006 9:46 AM by Femi Star rating. 10 forum posts Send private message

Thanks Anthony.

I'm seriously considering going down the same route.

Regards

Femi



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02 Dec 2006 2:46 PM by Littlebritain Star rating. 5 forum posts Send private message

I am just wondering if any knows what is happening about the building licence for Las Vistas. Is it under review or has it not been looked at yet by the Office of the Junta of Marbella


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29 Mar 2007 5:41 PM by simonandsue Star rating. 4 forum posts Send private message

In the same boat as you guys. Just spoken with my lawyer having issued proceeding in November. Just got the date through for our initial court hearing. September 2007!. It will be close to being completed by then but in for a penny. We're proceeding to get our cash back and see what happens in Spetember. Anybody had any luck getting monies returned since the beginnig of the New Year?


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16 Apr 2007 1:40 PM by 669076 Star rating. 22 forum posts Send private message

rumours abound that the site is to be demolished.


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17 Apr 2007 10:07 AM by simonandsue Star rating. 4 forum posts Send private message

Do the rumours come from any recognisable source?


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22 Apr 2007 10:47 AM by 669076 Star rating. 22 forum posts Send private message

apparently from a tv programme,selling your home abroad,it came second hand to me .


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03 Jul 2007 10:22 PM by Femi Star rating. 10 forum posts Send private message

Not true about the rumours on demolishing Las Vistas. The municipal election was held in May and a new government has been sworn in. With respect to Las Vistas, it looks like the license has been provisionally reinstated with formal approval given wihin the next couple of months. It is forecast that work will restart on the development soon afterwards and wil be completed 1st/2nd quarter 08.


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18 Sep 2007 9:17 AM by mortelman Star rating. 1 forum posts Send private message

Does anyone have any further news on this development? We are now mid September and there should be a re-start date posted by now. Thanks.




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07 Nov 2007 6:21 PM by shepps Star rating. 7 forum posts Send private message

Hi All,

 

Jus to quick note to say we will be in court on the 16th November requesting that the developer refund our deposit + interest for the 4 years we have been waiting for the devlopment to finish. As for the development it is NOT going to be demolished, its going to be given permission to be built time scales are any ones guess. Will update you as to the court case.

 

 Phil 




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27 Nov 2007 10:43 AM by simonandsue Star rating. 4 forum posts Send private message

Hello Phil, any news on your day in court?

We were at this stage 2 months ago and still awaiting the judges decision.

Happy to share thoughts privately if it can help either of us.

Good luck




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14 Feb 2008 7:22 AM by Caroleroccia Star rating. 1 forum posts Send private message

Hello

So pleased we have found this site - Carole and I have also bought on this development and are waiting for a descision from the courts on what is going to happen ..... has anyone any further news ?

Femi you seem to be up to speed with what's going on - are you still holding on to your unit?

Would be happy to speak privately with anyone who has any news if you don't want to post your views on this site.

Foggy & Carole




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14 Dec 2008 11:32 PM by Littlebritain Star rating. 5 forum posts Send private message

It is now almost 2 years since I managed to get me deposit back from the developers of Las Vistas de Santa Maria.  Like most other investors of this development I was told that the building licence would be restored and the building work would continue 3 years ago. Unfortunately this did not happen and I decided that i was going to demand the return of my deposit from the people who sold this project to me. They tried to put me offf by offering to reduce the price on completion but I xpalined to them that 'there may not ever be a completion'. Eventually my money was returned LESS legal fees for exercising the bank guarantee.

Whilst on holiday in Marbella this summer I went to visit Las Vistas and it looks very sad. The building has completely stopped and the work is only about 60% completed. I had such great hopes of owning a lovely spacious apartment in Elviria back in 2003 but I will now keep my money in The UK and stay in a hotel when I visit Marbella in the future.

Has anybody else got their money back? and what has happened to the investors who are still waiting for the work to complete?

Littlebritain 




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