Mar Menor 2 Wardrobes

Hi Everyone,

I'm looking for other people who haven't completed on their property. Like a few other dumbos I fell for all the sales blurb and really thought I'd be able to sell before completion. There must be other people in the same boat; 70 according to one of the threads below. I'm looking to make contact with anyone in the same position with an eye to seeing if we can do a deal with Moleon, or paying a decent lawyer to find out if we can recoup anything.

I'd really be happy if three people with deposits could get Moleon to agree to a part ownership on just one property. What are the chances of that happening?!

Frank

Interesting post Frank.

I was also wondering if anyone has details of what the penalties are if an investor decided not to go through to completion (all deposit/50%/75%...?), and what typical costs will be incurred.

I am struggling to get a straight answer from my Lawyer.....

Thanks in advance.........

Andy.

well,

the contract clearly states that you can get back 50% of your deposit.

This was pointed out to me by a host of different sharks and was the key selling point for me (it made it a gamble with half your stake back).

However when i tried to action this recovery it was pointed out that the return of this was at the developer's discretion.

The only reason this 50% sum could possibly be mentioned in the contract (in my opinion) is as a deceptive clause for fleecing punters.

I would gladly accept a 50% loss on my deposit, but according to my lawyers ( who are either corrupt or incompetent as they never pointed this out at the beginning and since telling me it was impossible to regain this money have emailed me by mistake suggesting i ask for 50% of my deposit!!) this is not possible.

please do contact me if you are in the same position. We stand a far greater chance of getting a satisfactory result if we pool resources.

I didn't intend to ever complete on this property, but since seeing the finished product, i would be very happy to leave my current investment (i.e. the deposit) in a part share of a property on this most beautiful development.

frank

Yep same position Frank
Steve

Hi All 

I think it has been pointed out before that everyone should be very careful what they say on this web site as it can be viewed by any member of the public including developers.  To disclose that one never intended to complete on the final purchase (Frank) putts the developer, I feel, in a very strong position.  I think several others on the development, including my self, intended to make a fast buck and sell up before completion as we were all probably lead to believe could happen.  Unfortunatly we do not have a crystal ball and nobody could predict the down turn in the market.  I did complete July last year, as you say the development is probably one of the best on the market at the moment ,and have had several great visits since.  I realise this probably does not help your case but we all took a gamble and as we know not all gambles are winners.

One thing I did hear, but not sure how valid, and that is the developer may be able to make a back charge of any community charges etc to anyone dropping out until such times as the property they were going to purchase is sold. 

Best of luck with your fight.

Brian

True enough it was a gamble. I was lead to believe that i was gambling 50% of my deposit rather than the whole lot. The contract mentions this 50% refund only to later say in the small print that its at the developers discretion.

I take on board what kyle says about shooting my mouth off.

Still at the end of the day i'd like to have a quarter share of a property with 3 others in the same position as me.

flank

a few folk are interested in this. If you replied and i've not contacted you do drop me a line as the private messaging system on this website is a bit ropey. one day i can see a dozen messages, tne next none, the next after that there all back again.

respecting everyone's privacy but there are 4 of you who i've lost on this system...


flank