05 Jan 2021 10:39 AM:

Hi Gill

We executed our bank guarantee back in 2008, it took us around 9 months to get the funds back, plus 4% interest per year. I can't believe it's taken you 10 years! I think we must have been very lucky. I'm really glad you have made, what looks to be, significant progress. The exchange rate should really play in your favour and will give you a nice uplift on the actual monies you paid, plus any % interest that is part of the guarantee of course. We were on the CDSS site but same developer I think - Intrlaken?
 

What a fight you've put up, very well done and best wishes for getting over the final hurdle.

Damon

Community thread: ACTION GROUP - CASARES del SOL

--------------------------------------

20 Aug 2019 10:12 AM:

Im shocked and saddened. I was just talking about my experiences with a collegaue that happened over 10 years ago at the CDSS site (which as far as I am aware was never finished). I just searched for Norman on here to see if any developments had occured since I last looked over 5 years ago, and my heart sank when I read that he'd passed away.

I used to scour the CDS forum for snippets of information back in 2006 / 07 and always looked out for Normans posts, as I felt they were real and genuine. I even private messaged Norman once, who was kind enough to respond to me. Norman obviously was a man of principles, I know he was sometimes ascerbic, but he told it as it was, and I like that in a person, its called character. I know its late on but I'd like to pass my condolences on to Normans family, and to say that he touched many people and will be remembered fondly. I hope that some form of financial justice will be forthcoming. Rest in peace NormanSands.

Forum thread: Norman Sands

--------------------------------------

20 Jun 2008 3:48 PM:

Guys - our position is the same as yours, exercised the guarantee and within 2 months we had our money back. We are very fortunate, reading some of the forums some people are having to wait years and throw loads of money at the process. Frankly we were always very concerned about Interlakens ability to produce a development anywhere near the advertised quality and so were prepared for a long battle even if it did complete. I  paid a visit last October and took a critical look at the CDS site, my word what a depressing site that was - outer walls that didn’t meet the floor, damp, water stains, raised manhole covers dotted around, weeds everywhere - made my heart sink to think we were involved with the same developer. The only saving grace was that it was an Apartmentos Touristicos (excuse spelling) development which meant certain government regulations had to be met including - Management contract (Apart Hotel), guaranteed rental scheme, complex meets stringent standards etc. Also IVA was reclaimable for buyers which was a nice bonus. However because it was Interlaken we were convinced they would not have the ability to produce the goods and this seems to be the case. I'm a little surprised that the deposits were handed back so easily. I wouldn’t be surprised if the developer is going to re brand the complex and sell as basic individual apartments free of the Apart Hotel tag, to do this they have to pay off all the original contracts. Just a guess but I cant see how they can stick to the original plan.

I would be very interested to hear from anyone that has chosen to stay with this development and for what reason.    

Community thread: mortgage approval

--------------------------------------

13 Jun 2008 1:10 PM:

I'm sorry to hear your tale, maybe you were sold a proiperty on the basis you could sell on and get out early - I dont know. However I would not want to lose the deposit. Obviously you couldnt sell but were you really happy with the end product? Surely you would not have wanted to complete on grounds that the site was not delivered as advertised? I think you should contact Maria (she's the lawyer on the EOS team) to assess your options. Good luck.

Community thread: Andalusian Cinemas - films in English

--------------------------------------

28 May 2008 12:00 AM:

Most will now no doubt have gathered that completion is unknown at this moment although I hear that some time in 2009 may be possible. With the exchange rates as they are, Spanish housing market in turmoil and when you consider what the CDS buyers are going through it may be a good idea to exercise that guarantee......


Community thread: Lawyer in Mojacar area

--------------------------------------