New :)

Hi All,

After making inquiries with my Spanish solisitor, I recieved an e-mail from her yesterday.  Although reading all the opinions on the forum I wanted clarification from my solisitor regarding the situation.

She says ALL clients who brought through Vanmar, S.L, Smart Investors, Equity property portfolios, Nueva Vida or Ward & Co has included in their contracts a clause a guarantee that is required by law.  Deposits made are guaranteed by the company Sociedad de Garantia Reciproca de la Comunidad Valencia.  This protects deposits in the event the build is not completed.  She also says San Hose has other policies in force wich could be executed if needed.

My solisitor has also checked with the accounts department that my payment has been included in the Creditors list sent to the court. As I am their client this is included and covered by my original fee. So check with your own solisitor before paying out for others to stake your claim.

San Jose is going through Judicial Administration which could take at least 5 weeks to go through the court, and all deposits paid will be rcogmised as valid by the Judicial Administrators.

A lot of us would also have in our contracts a clause that gives San Jose a 3 months over run on the build.  So if they are late we can get a refund.  We cannot have a refund NOW as they are not in breach of contract, But it dose seem that if they go bust or are late our deposits are protected.

I hope this would put some people's mind at ease, but for the buyers from 2-3years ago contact the solisitor to find out what guarantees are in force, and to check with the creditors list, It should be free.

I want my House  Malva R-19 No 172

Recardo

Hi Recardo
We are in the same group of people, we heard from her yesterday too (standard letter!) and agree with you.  You are the second near 'neighbour' on R19 we have found now, as TonyMal says, we're almost a community already

We want our house!
Sarah and Tom
R19 199

Recardo,

Why do you say that San Jose are not late and are not in breach of contract ?  My Tulipan was stated in my contract as being ready in June 2007 which, plus  the 3 months, makes them well late and in breach of contract and legally obliged to give me a full refund plus statutory interest.

Michael.

hi Michael,

I put down my deposit in May 07 so they have untill August09 to complete, thats with the 3 months overun, so a lot of us has not reached our contract date.  If yours is overdue have a word with your solisitor to find out the options.  You may have changed your mind on the property and want a refund.

At the time of signing up I hade allready found this forum and realised that the completion may be a year late 2010.  So I will be checking my options next year.  As long as my deposit is safe I will wait till 2011 before asking for it back.  I want my Malva in Jumilla and am not interested in moving to another developement.  

Santa Ann will be the place to be.  If your deposit is safe the situation will only be made worst by everyone pulling out with out the full facts.  So e-mail your solisitor and ask what is the best course of action, but make sure your money is protected.  That is what i said in my last posting.  I thought people not in the know may appreciate information from a legal source, and not just hearsay.

Recardo. 

Hola Recardo,
Well said!    Do you wish to join up with us and say    " I want my House"  ?

All the best to you
Tonymal R17 18   Rosita