Dogs in Cars

We are buying in Ph1 block 7 and have heard nothing from our solicitors since the licence for the first 6 blocks was granted in Oct 07...... until the other day. After communications with the developers they can not now see a forseeable completion date for our apt and gave no reason. I have asked for clarification.  Has anybody else had recent communications from their solicitors on these lines?

Do you really mean Phase 1, Block 7?

Yes. Below you.

I don't really understand because I thought all of Block 7 was released.

Hi Per what is your portal no and floor,we are in block 7 and have been completed since Feb I cannot understand this

Ken Lynn

Pdrich. I thought so too.

Kennylynn. We are block7 portal 24 ground end. I know some of you have moved in. I have not heard anything today. I am begining to wonder if the solicitor has written to the wrong client.

Hi all,

I have just e-mailed our solicitor.

I don't think for one minute it will make any difference but I'm starting to get an uneasy feel about this development I have wanted this apartment for years but now it feels like I'm in danger of being trapped in a development that never gets finished, and I haven't even handed over our Euros yet .

Hi Elena,
Please can you find out if the Developer of Arenal Duquesa now as a firm date for the final completion of phase 1, we have been left stuck in limbo for far too long.

The Developer is in real danger of losing faith with the rest of the purchasers in this development, also people that may require a mortgage will find this more difficult as time goes by with banks unwilling to lend.
If no firm date can be obtained we will have to look at cancelling ourselves.

Paul Ward & Linda Brooke
Block 15

 

Paul & Linda
Block 15

Like you Paul & LInda, I have an uneasy feeling about this development and along with the poor exchange rate I am again swaying towards cancellation. I spoke to Elena recently and there is still no firm date for completion.
I am also concerned about the the additional structures like the club house, commercial center and the clinic. Will these ever be finished or will it end up as a ghost town?
I just wish there was some really positive news coming from the developer. At the moment it seems I am waiting in vain.
Alan

Do we all in Block 15 have MRI and Elena in common?

Hi Bob

We bought with Viva Estates but have had nothing to do with them since, we did try to get info from them very early on but it was obvious they had sold the property end of.

Paul.

Thanks Paul,

Maybe many of us have Elena ( of Martinez - Echevarria) as our solicitor?

Yes if you bought through MRI then you are almost certain to have Elena as your solicitor. I am in block 16 and for the last 3 years I have been out there about this time to check progress. Now I really can't be bothered sad to say I have lost interest. I suppose if I were to get a call this afternoon saying it's now going to happen it may fire me up but there has been so much negativity that it has taken its toll!

I am as they say 'on the brink' it will be a sad day for me but I am edging towards canceling again unless something dramatic happens in the coming few weeks and I include the exchange rate in that.
I feel I can't hang on forever and a decision needs to be made soon.
Alan

It is a real shame that you are feeling like this and I can understand why. 

If it helps I have just returned from my first holiday using our apartment and it was great.  Yes, don't get me wrong there are still snagging issues but on a plus point the apartment is fantastic, the development looks beautiful and we were able to use the pool for swimming in last week, the weather was glorious 25-28 every day, we went out every night to dine and had a few late drinks at our favourite places.  We really enjoyed our week and are counting the days for our return next month. 

 

 

 

LATEST LETTER FROM MY SOLICITOR A LITTLE SCARY THEY ADVISED THAT THERE WAS NO FORSEEABLE COMPLETION DATE THEY HAVE SPOKEN TO DEVELOPERS ON MANY OCCASIONS AND EVERY TIME  ARE ADVISED OF A CLOSE COMPLETION DATE WHICH NEVER HAPPENS.    (DEAR SIR,YOU HAVE A BANK GUARANTEE FOR THE AMOUNTS PAID TO DATE PLUS INTEREST BUT THIS BANK GUARANTEE ONLY HAS A VALIDITY OF 2 YEARS AFTER THE ORIGINAL COMPLETION DATE OF OCTOBER 2006 AND THEREFORE WILL EXPIRE IN OCT 2008. ONCE THIS HAPPENS IF YOU DECIDE TO LITIGATE TO GET YOUR MONEY BACK THE PROCEDURE WOULD BE A LOT MORE COSTLY AND TIME CONSUMING AND MUCH MORE DIFFICULT TO GET THE MONIES BACK. IF YOU PROCEEDED WITH LITIGATION AT THIS STAGE WE WOULD CLAIM BACK THE AMOUNTS PAID TO DATE,LEGAL INTEREST,MORAL DAMAGES,LOST RENTAL INCOME AND COST OF FURNITURE STORAGE. WE HAVE STRONG REASONS TO BELIEVE THAT COMPLETION FOR THE PROPERTY COULD STILL BE A LONG TIME AWAY AND THEREFORE WANT TO MAKE YOU AWARE OF YOUR OPTIONS AT THIS EARLY STAGE WHILE THE BANK GUARANTEE IS STILL VALID.)    WERE DETERMINED TO HANG IN THERE BUT THIS IS ANOTHER FACTOR WE WERE NOT AWARE OF ANYONE ELSE AWARE OF THIS EXPIREY DATE ?

Hi Beatlemad

I have just received the same letter. What block are you? We are block 7. We obviously share the same sols.

Per

 

Per block seven has a habitation licence and several members on EOS have completed in block seven.  I do not understand why you have not been invited to complete...it is very strange.  I understand why the blocks not released will have a delayed completion, but your situation is somewhat different, as your block has the licence and has been released for completion.  Once a block has the licence you are unable to use the bank guarantee for a refund, or this is what I have been told.

What has your solicitor said with regards to why others have completed in your block?

Curiouser and curiouser! Would be interesting to know what block you are in Beatlemad. If it is block 7 then I am mystified because as Tracy says the license has been issued for that block and to my knowledge this means that all owners in that block can complete.

If you are in one of the blocks still waiting for a license like mine in 16 then it only serves in making me even more nervous about the situation than I already am. Especially if as you say there is a time limit on the bank guarantee. I haven't heard of that before and will check it out.

Have edited this as I took out my guarantee longer than two years ago and I discussed canceling with my solicitor just a couple of weeks ago!
Alan

This message was last edited by alanwspencer on 5/2/2008.

Do you know what I'd be tempted to do if I could get my money back? I'd get it back and then I'd buy another apartment in the same development, at a better deal. I bet there are some great  deals to be had at the moment, and you'd get your pick of what's available. Plus you'd be able to complete more or less immediately. It all depends on what you paid in the first place, but it might be worth exploring.  It's a great development. We've been a few times. Haven't completed yet, because I've still got the hump with them and we're not going out till August. So we're in no huge rush, but we're still really glad we're in.  Margo

Lauden. I have asked the solicitors again why some have completed in block7. I await reply.

Alanwspenser. I think the guarantees were activated when they failed to deliver on time (Oct 06). So 2years from then, rather than when you signed the contract. I was not aware of a time limit untill today. There is still almost 6 months if that is the case.

Per

ps. i will not be logging on 'till mon eve.

pps. I am NOT going to Spain