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Hi can anyone give us a bit of advice?
We are due to complete on a new build in the next few weeks but unfortunately our circumstances have changed and we are now unable to complete. Does anyone know approximately how much money we stand to lose. We have tried going through Parador our agents and they don't want to know. WE've also tried contacting our legal advisors who keep fobbing us off and not giving us a straight answer.
Any advice would be really welcome!!!!!!!!
Chris & Jim
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The penalty clauses for non completion or what is called Unillateral cancellation are what are stated in the contract. Provided they are not illegal for abusive. The Supreme Court ha state by expample that a penalty of 50% of handed amounts is abusive.
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Hi Maria, thanks for your reply but it all sounds a bit tecnical to us. We may sound a bit dim but can you put it in simpler terms. For example what is the definition of abusive?
Christine
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Hi Maria,
What advice would you you give me to help a dear friend.
It all started in April 2004 They bought off plan in Almeria to be compleated in 18 months, you can guess she is still waiting.
The sad thing is my friend's husband died suddenly in April while living with their daughter in the UK. She is at her wits end with worry, as she now feels she cannot move to Spain as they both planned to do.
The agent doesn't want to know and has not returned any calls, the solicitor is not much better and has given her no advice.
Have you come accross this situation before, and what advise would you give her and the family. Thankyou
Harley
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Harley
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Maria,
Regarding your first response on this thread. In your opinion, what percentage of deposit would be considered as fair to forfeit, if a purchaser does not complete a contract, assuming that the developer is not guilty of any breach?
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as per Court Decissions studied less than 50%. 50% is considered abusive.
M
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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