Aifos

I keep hearing a lot of rumours about Aifos going belly up and wondered if any of the illustrious Estate Agents on this forum know anything as fact. I have seen other forums where people are taking Class Action lawsuits against the company for various reasons, but mainly breach of contract.

I am not an Agent, Buyer or seller, just someone who would like to know if there is any foundation to any of the comments I have heard.

Any positive info would be appreciated.

The few I know is that they used to refund deposits without agent commissions a year ago ( still bad but not as much as now), and  now they start promising you that are taking the cancellation seriously  and forwarding it in the acounting department to just come back offering other " magnificient apartment, with maginificient facilities and views" to be completed at still high prices, right away... I am sure some of you are familiar with these proposals.

I also know for sure that their agents are hungry for sales in an unmoderate way and that... of course they have got assets to execute if a debt is officially declared by a Court Decission.

My advise is for those of you in trouble with Aifos, to initiate a serious claim soon in order to get a good position in the list of creditors and maybe ask your lawyer to ask for a preventive seizure of assets in the lawsuit.

I am afraid and sorry I cannot say anything better.

Im in the ssame boat as you lot - hearing the rumours but nothing concrete.

If it helps to make minds up, a pal of mine owns a room in the Guadalpin hotel on the Golden Mile (aifos). The hotel rent it out and he is supposed to get an income from it

However on his last trip out (nov) he was told that due to all the costs and staff wages blah blah blah, they couldnt afford topay him the 18k owed, but would give him a promissory note instead!

So, I dont think its tooooooo good!