Elegance Dona Julia

We have also paid a deposit on this development(phase 1).It appears that things have gone 'pear shaped'.We are extremely worried about our investment and the possibility of seeing our deposit returned,not to mention the 6% annual interest accruement due for failure to ,meet completion deadline.We would be very interested in pooling resources with other buyers,in order to expedite the process of reimbursal.Individually we have a mountain to overcome,but united we have more clout.

Look forward to hearing from other buyers asap

Hi

If you are having problems recouping your deposit monies through your bank guarantee then please join us in signing the petition being sent to the Governor of the Bank of Spain in January.  You can read more about it on this website.  Follow the threads (there are two!) PLEASE SIGN THIS PETITION for more information.

You will find the link to the petition itself on those threads.  (I'm a newbie on here and can't refer you directly until I 've made 10 postings.)

Good luck with your fight.

Ruth

Our deposits were transfered from the bank to Grupo Sanchez  a year ago, when the first residence license was granted. Our understanding from our lawyer, is that we are bottom of the pile as creditors and not likely to get more than 25% of the deposit after another five years and certainly no interest. The administrators have now completed the bancruptcy report and the banks and subcontractors will be first to be paid. We still feel that the best option is to complete on the property rather than write off the deposit. That is the option we are following at this stage. We would welcome contact with other buyers on Elegance Dona Julia (phase 1). tel (44)1206 241117