Sofa Bed For Sale

After 6 years of waiting, the off plan development at Sea & Sun Hills is ready  for completion. I paid 80k euros deposit and do not wish to complete. Has anybody got their deposit back or are you being forced to complete. Did you think that you had kitchen appliances in the initial contract, my kitchen has no cooker, fridge etc etc?  I should be grateful of any advice.  Because of the delay I have already bought  a home in Duquesa. Looking forward to hearing from you - Gillie

My wife and I went to visit the development this week as we are being offered a completion date of 15th April (YES - 2008!). We were very very very disappointed. It could best be described as a development that was 90% finished 2 years ago to a high standard and the last 10% has been botched. The apartment door wouldn't open as it hadn't been fitted properly, wardrobe door handles open directly on to patio doors, holes in floor tiles, very messy painting and plastering finish, cracking of plaster in many places on the terrace, rusting rails and external fittings - the hot tubs are uncovered, the list goes on. Does anyone have any idea how many apartments have been sold? Ocean said initially that many had been sold to investors. Right now we will not be completing unless we get clear signs of vast improvements. Sadly we are not holding our breath.

Thanks Gillie & IanL for your info. I am getting info from my solicitor that it is too late to get back any deposit. Resale is the route. If we do not complete and try to pull out any return of deposit (mine is more or less the same as Gillie) it will require the approval of the Judicial administrator. If approved, which is not a formality, any refund of deposit will depend on the development being "in funds". This is all according to my solicitor who I think is good. I agree on the comments on some of the poor quality of finish. The boundary wall is shocking, the laying of the marble inside is poor with breaks in at least two tiles due to the workmen who used the front of my appt for tile cutting. Also, where is the unique sculptures as promised on the orig schedule. The brass door fittings are tarnished and of the lowest quality and I am told will be replaced. There are other issues relating to my appt I will not bother you about and it has taken the gloss off what should have been a special and enjoyable experience. Icecoldinalex

Hi, my lawyer is telling me the same - that it is very unlikeley that, if I wish to 'walk away',that I will  get back my deposit. But what withe the euro as it is and the property market , it may be best just to forget this unhappy situation which has gone on for 6 years. Are you managing to snag your apartment? I did view mine last year and the hot tub was smashed up. Will they rectify  these things before completion? Are you going to complete? What do you think the 2.5 bed apt is worth now? Regards - Gillie

I think we are all heading in the same direction here unfortunately! We have just returned from a week in Spain and I can tell you that there is absolutely no sign of life what so ever on the development, despite the fact that we were due to complete 2 weeks ago. I have asked our lawyer to "think outside of the box" for possible solutions (with the appropriate return only if successful). So far her only suggestion is that if the apartment can be sold on via an agent then any excess over the balance due should retur to us. Frankly, looking at the price of properties in estate agents down there I think that the chance of selling it fo 70% of the asking price would be unlikely. Prices have fallen dramatically and properties are still not selling. A friend who lives on Selwo Hills tells me that there are penthouses that have been on the market for 3 years, now at €210k, which are not having any interest in them. If only this was England (!) and we could rely on the sale of goods act as the apartments now certainly do not reflect the sales documentation that we were all sold the promise on!

Good luck one and all, and let us know if anyone has any bright ideas

IanL

Hiya, my lawyer is equally negative. He says that if I wish to join the other 30% of owners I may have to wait about 7 years and White Compass will probably bankrupt well before that. He also is encouraging me to complete, but the apartments are finished terribly and we would not have a hope of seeing any return. I think that we all have to put this down to experience. I will just say that I think that Ocean Estates should be helping us as they were more than happy to sell us all these apartments on false promises. Of course they have already got their commision. Good luck - Gillie

I just found this forum and was hopeful that at last I might get some idea of what is happening. Now I am really depressed. Our  lawyer did file a claim to the judge for a refund and apparently the judge approved our claim. But if the developer has no money we are out of luck.
Good luck to us all!
Dave

Dear Readers I am now the owner of my appt - me and who else? My unit is 402. Solicitor has advised that developer has allowed the insurance on the building to lapse - surprised? Action is required! Ocean are a test for anyone, I think the staffing levels are down to a minimum and after sales appear to be sorely pressed. I am snagging on Friday this week My Issues are boundary wall, door fittings, pool stagnant, marble tiles damaged and no thought in mixing the tiles before being laid, poorly fitted kitchen units. terrace above our unit needs jutting section of concrete levelled, rusting rear cage to property, barrier on access road is rusted. Where are architectual features promised on original marketing brochure. The location remains good and hopefully once repairs are done and good neighbours arrive, all will be well. Regards to you all icecoldinalex