04 Feb 2010 12:00 AM:
Dear Maria, I placed a large deposit for an off plan apartment in Almoradi in April 2005 with a completion date of September 2006. The apartment was completed in September 2007 and I went to Spain to complete the purchase in December 2007. The developer stated he would not complete until the end of January but after 14 months with no prospect of completing I instructed a new lawyer to take the developer to court. According to my lawyer the company Proalto is still in business, it had taken out mortgages against the properties and some purchasers had been offered to pay an additional sum on top of the purchase price, the excess to be paid back later by the developer, I did not receive any offer and would not have taken it up if I had. In the eleven months since instructing my new lawyer there seems to be no news of a court date. I realise that the legal system can take time but is this a normal time period and what advice could you give to move things along. I would appreciatge any advice you could provide.
Kindest regards,
Anna
Forum thread: Problems with developers
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18 Dec 2008 12:26 PM:
Hi, I have very little sympathy with spanish developers. I put a large deposit on an off plan apartment in April 2005, The contract stated the completion date would be September 2006. The apartment was completed in late 2007 and I transferred the necessary funds to spain and went out for 5 days to complete etc. The developer refused to sign until the end of January 2008 and almost exactly a year later I am still waiting. I have like others in the same position have decided to sue the developer for breaking his contract. The promotor has gone into administration, the builder is giving his debtors apartments in payment which they are renting out and despite the efforts of several lawyers no one seems to be able to contact the main man. I have had months of stress and now like others have had enough. If only the people concerned were up front about the issues and problems they faced and kept the buyers informed things might have been different. I can ill afford to lose the money I have already invested but would welcome any thoughts about the costs and likely success of taking the builder to court in Spain. I see littlle point in throwing away any more money if I am unlikely to get even a small percentage of my money back.
Rregards,
Safia
Forum thread: Is The The Tide Turning
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06 Nov 2008 7:54 PM:
Thanks for the news Carol, I realise how busy you have been and am very sorry about all the unnecessary stress you have been put under by the builder, the spanish owners and their representative. I am amazed at the cheek of the builder who has kept owners waiting for over a year and then suddenly decides that he will complete only during the coming month. I wonder if you know whether the habitation certificates have been issued for all the apartments in the development as I have been advised not to complete until these are available and my experience of this developer means that I have no intention of completing until my lawyer has possession of this certificate and the building insurance guarantee and they have been checked. To any other owner concerned I would add that the price included furniture and white goods which I doubt will be forthcoming from this particular developer now, we have been put under considerable stress because of the behaviour of this builder who has broken his contract with us to deliver our apartments in a reasonable time, he has not made any effort to keep up informed about his business and financial situation, indeed it has only been pressure from purchasers on lawyers that we have had any information at all. It is a buyers market in Spain as in the U.K and I for one will be making strenuous efforts to substantially reduce the balance on my apartment and would advise you to do the same. I am prepared to walk away from the deal if necessary, the rise in the euro will offset some of my loses but I am prepared to take a financial lose rather than close this particular deal at the price and time this builder demands. I would be interested to know why he is only willing to sign this month, it all sounds very suspect to me. I would be interested to hear other take on the situation.
Regards,
Safia
Community thread: ANYBODY ELSE STILL WAITING TO COMPLETE ON THEIR APARTMENT
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28 Oct 2008 10:31 PM:
Hi Limetree,
Last news I had was that they expected to receive the habitation certificates at the end of the year which might mean the properties outstanding could complete but no news of the builder. The situation at the apartments re the spanish owners does seem to be bad, they appear to be threatening legal action against Carol and the administrator Juan. It doesn't sound a very happy place to be!!
Regards,
Safia
Community thread: Property refurbishment - advice
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26 Jul 2008 7:54 PM:
Dear All,
I have been waiting since December o7, when I came over to sign and was told no more signings until the end of January. The latest information I have came after some pressure on PSI. They checked the office in Alicante which was closed and then visited the court in Alicante where they discovered that a creditor of Idearco applied for a claim against Idearco for unpaid bills, this meant that until the judge decides whether to put Idearco into administration or the spanish equivilent no property exchanges can go forward. This took place in March 2008. I think that the lawyers are having a lean time and that is why they bothered to go to the court, they must have suspected there was a legal problem. My understanding is that this could go on for months or even years. PSI told me that if the judge decides for Idearco the signings can go ahead, if not there is no compensation for us. The preferred creditors are the government, social security payments etc, utilities and then other creditors. We can put in a request for preferred creditors but this has to be done very quickly, within a month and as we are not in the country it may take longer than that to find out. I have instructed PSI to let me know immediately this happens but it is Spain and with August coming up, long holidays etc we need to keep an eye on the internet sites and press. It would be useful to know how many apartments are sold but not signed for, the administrator must have this information but does not reply to e mails. Working as a group makes the most sense.
Regards,
Safia
Community thread: ANYBODY ELSE STILL WAITING TO COMPLETE ON THEIR APARTMENT
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