Hi

I thought that the Bank Guarantee does not apply because some of the apartments are occupied and because the licence of first occupation was issued.

Sadly I have about 70,000 Euro tied up in this apartment.  This was more than the staged payments needed to be but was because i changed apartments.  I did previously ask (two years) ago to be released from the contract due to the delays and changes but was not being offered the correct % (found this out later)

With regards to the offer - I had a direct approach from the group of buyers but at that point they were offering me "nothing" other than to realease me from the contract - obviously so they could buy up the apartment cheaply.

Also dont understand why someone would buy the apartment at 15,000 euro if the company is about to go under?  and if this amount will prevent them going under surely they are not in that much trouble?  If I offer to buy it for 15,000 euro (on top of my deposit) will this make me a secured creditor because I will then own the apartment?  Cant see why they would wish to sell for this amount - sounds a bit suspect?

What will also happen to those who have completed if the site is no longer being managed.

Is anyone else on here affected?

Hi

I thought that the Bank Guarantee does not apply because some of the apartments are occupied and because the licence of first occupation was issued.

Sadly I have about 70,000 Euro tied up in this apartment.  This was more than the staged payments needed to be but was because i changed apartments.  I did previously ask (two years) ago to be released from the contract due to the delays and changes but was not being offered the correct % (found this out later)

With regards to the offer - I had a direct approach from the group of buyers but at that point they were offering me "nothing" other than to realease me from the contract - obviously so they could buy up the apartment cheaply.

Also dont understand why someone would buy the apartment at 15,000 euro if the company is about to go under?  and if this amount will prevent them going under surely they are not in that much trouble?  If I offer to buy it for 15,000 euro (on top of my deposit) will this make me a secured creditor because I will then own the apartment?  Cant see why they would wish to sell for this amount - sounds a bit suspect?

What will also happen to those who have completed if the site is no longer being managed.

Is anyone else on here affected?

Hi Everyone,

Received the following today and found it worrying!  I had been buying a property off plan at this development but it finished well over time and the owners were operating it as an aparthotel without all the licences being in place - the licence of first occupation was issued.  I did not want to go ahead with the purchase due to the lateness, lack of legal licence and also the fact that the aparthotel status - which I was not made aware of when purchasing, was preventing me from securing a mortgage.  I contacted a lawyer with a view to reclaiming my money but due to completion and licence of first occupation I believe that the bank guarantee no longer applies.  In order to progress my case further ie to court I need to pay more money to the lawyer which due to the current climate I have been unable to do as yet.  I believe that currently I would be considered as an unsecured creditor as the apartment is not in my mine and also I have not yet commenced court action.

Can anyone give me any advice as to whether it would be of any advantage to try and quickly find money to progress the court papers or will this not make any difference.

Is there any hope????

Thanks

Letter Received:

Further to the above:

Now been advised that they dont want to pay any money - just that they will transfer the contract to themselves to relieve me of the burden of it!!!

No thanks!!

Hi All

New to this but seems like a good place to get advice!

Was buying an apartment off plan - it was not completed on time - still not completed as per the spec - and although it has a licence of first occupation it does not have a licence to rent out the properties (it is an aparthotel)  - i was also not told it would be an aparthotel.

For all of above reasons I did not wish to proceed.  Got myself a new lawyer and advised (via lawyer) that i would be going to court to have my money repaid to me - due to above situation. 

Not sure about the current financial situation of the developer (Mangle) - is there a way to find this out?

BUT have now been approached by someone who is representing an owners consortium who have offered the suggestion that i will transfer the contract to them (at no cost to me)

any thoughts on what exactly it is they are offering?  they say it is to tidy up admin and leave all apartments on the development either fully owned or available to be sold

Has anyone else come across this?

Am i being offered money (no money mentioned yet) and what are anyones thoughts on all of this?

Thanks