Asturias

I'm another owner who would rather wait it out.

It's true if Aifos go bankrupt, we could all lose our deposits- 

However, I wonder about the motives of "Juan" - recommendation of Rosa or not.

If he wins the case for 7 or 10 clients, what will be his earnings from the money awarded. Plus would you even no the final details of the court's decision

as to compensation for the increase in value of the property, or money equal to bank interest lost. It's hard to trust someone you have never met. How close is he to Rosa?

one other point  - I always thought Aifos's interests woukld be served by completing Torreblanca. Our deposits (a fraction of the value) were probably spent long ago-

but on completion - they will get the full value of all the properties they have sold from the mortgage lender (buying price minus the deposit)  surely this would be  a sizeable injection of capital for them.

To act or wait is a huge gamble either way. Even if it went bankrupt, the trustees of bankruptcy, might order the completion  to provide money for other creditors- the project is so far advanced - they can't just knock it down!

Wishful/ rash thinking - I don't  know?  Any signs of building work of course is key.

 

 

Darrel

 

 

Myself and I am sure many others feel the same as you, would like their property I do treat Jaun’s intervention with much scepticism particularly with the request for €1000.00 up front, who can you trust?.

 

I have always felt the same it would not be of any value to Aifos to forgo the completion of Cortijo with so much of the build done and clearly a substantial amount of completion capitol at stake.

 

Once again my personal feeling is to stick it out and take whatever risk there may be.

HI

RECENT CORRESPONDENCE MAKE OF IT WHAT YOU WILL

Hi Rosa,

We have been contacted by a lawyer as recommended by you to join forces with

other purchases to sue Aifos for breach of their legal obligations in the
construction at Cortijo.

Can you please confirm this is to be advised and we should not continue to
wait for the completion of this development.?

Best Regards

Andy

Dear Mr.Dyke
Yes, this lawyer is dealing on behalf of other people affected with Aifos
and therefore I thought it is best if one lawyer deals for everybody or at
least a big group of you.  I do not know whether you should waite for
completion or get your money back,  but he will most probably advise you of
the pro- and contra of this

Regards
Rosa

Hi

Just a small contribution. I have been contacted by the agents to ask if I would like a bank guarantee for monies already paid out to Aifos, if this information is of any value please contact me direct

Again, I have decided to wait for the completion of Cortijo.

 

 

 

Hi Andy, which agents did you use?

If I am able to get a bank guarantee from Aifos I will wait and see what happens. As it is the bank that has bankrolled Aifos for this project it is not in its interest to have purchasers suing for return of deposits so I'm hopeful that one will be given. If not, I need to make a decision and it is likely that that will be to sue for return of deposits. I'd still prefer the apartment though. I don't care if it's another year or even two because we've waited more than four years up to this point. It is bloody exasperating though!

Any news on your bank guarantees?

Hi Alison, it will be early December before my new lawyer has a reply from Fuengirola town hall regarding the status of the development. I'm hopeful that their response will be that the problem can be resolved. I also hope that Aifos are sensible regarding the bank guarantee as that is the crux of the matter for me; guarantee, I'll hold on. No guarantee,  I'll probably sue.

I have also just started the process of applying for a bank guarantee. We should get some idea of Aifos' intent  over these guarantees. If they go nowhere, then that is probably exactly what will happen with the development.