Does anybody know where i can buy.................

Evidently the company has a new lawyer and what the previous lawyer agreed has not been honoured .    We were informed that our return of depost was imminent ( before Xmas ) .    IWe now have three options:-

Continue waiting

Undertake legal actions beginning a civil proceeding

Undertake legal actions beginning a criminal proceeding

Is it worth taking legal action for 6000 Euros?    Why should this rotten company get away with it . I cetainly will not wash my hands of it as this amount of Euros will pay my bills for a few years .

Anyone have any suggestions?   I guess we will continue waiting. The trouble is that the cost of these apartments in Phase 3 and 4 are so overpriced  now ( at least ours was, others may have been luckier  ) .  With the glut of property on the market the company will not be able to sell them in the near future , they are hanging on to any monies they can.   

Tamsin

We are in the same position after cancelling in Dec 07. 

We are waiting on the return of our 30% stage payment and you are right, there has been a change of lawyer/accountant at Prienesur which has "slowed" things down.

I'm sure we all think things couldn't possibly be slower in Spain.

Our solicitor is confident that refund will be forthcoming as the longer they wait the more interest accumulates. - now looking at July 08 for refund, but who knows ?


This message was last edited by wflem007 on 7/1/2008.

 I hope you are right . 

Their lawyer was not up to processing the return of monies processed in November yet . I thought that we had formally asked for a return of the deposit earlier but obviously not .   She also said to be patient as August is approaching and nothing is done in August in Spain .  

Hi Tamsin, Will, My lawyer tells me it is appx. 45 days for the return of funds. Will let you know how accurate that is as mine is due soon!

Hi Alan

You too ?

Thought you were in for the long haul

Solicitor says they will pay in the end but they won't be rushing themselves - they are obviously matching sales with refunds.

We are now waiting 7 months so if you were expecting yours in 45 days that's some going.

Will

Hi 

I cancelled in July '07 and I am still waiting for my 6000 Euros. I was fortunate that I was never asked to pay the first deposit or sign the contract. I was in phase 4. Lawyer states that I will get it like you Tamsin but may have to take legal action.

Hi Will, yes I decided to pull out because the exchange rate is so poor. I made my calculations a year ago and even though I got the property at a good price it would have had the same effect as facing a price increase of thousands of pounds.  I suppose it wouldn't have been so bad if I was purchasing with a mortgage but that is not the way I wanted to go. I will take another look around early next year.

As for the refund, I am hoping the track record of my lawyers firm holds up. I had to pull out of a property in Elviria (an illegal build) and they got my money returned to me very quickly.
Here's hoping.
Alan

Hi Alan, 

Fellow Yido here, also from hertfordshire.

I've also instructed my lawyer to pull out because of the exchange rate but not for the same reasons as you. Not only have i lost faith in the whole thing but i figure, if i can bring my 30% deposit back at 1.2 when i bought Euro at 1.5 over two years ago i'd be about evens taking into account interest i would have earnt. 
I dont hold a great deal of faith either in lawyers over there, (they need a rocket up their arses, bit like the developers) so if you manage get your money back as quick as you hope for then i'd be very interested in his/her services if you would be kind enough to pass on details.

Here's looking forward to another good season.

Block 39, Park Lane Upper

We are the south stand!

Hi Steve, I'm not far off the 45 day mark now so will let you know. I actually believe Duquesa is a great development and maybe one day I will take another look and see if there is anything suitable. In the meantime that exchange rate has to improve a good deal for me to become active in the market place again.

Looking forward to the new season not quite sure what to expect though. Would hope for a couple more significant signings before the big kick off.

I am in West Stand Upper.

Alan

Hi All.
I cancelled my purchase on Arenal Duquesa, which has turned out to be a blessing in disguise as i have now bought elsewhere which in my opinion is a much better investment and value for money, although it is on a different coast.
I sent an email to my lawyer on the 7th Feb cancelling the apartment, on 25th March i had an email saying the developers had accepted the cancellation and the funds were in my bank account on 8th April. So it took 2 months from start to finish, I also received compensation. So i think those who have been waiting so long should get on to their lawyers, i did have to pay 2500 euros to get it sorted, but it  was worth it.
Good Luck.
Jayne

 

Folks

can anybody advise....

I bought out the off plan purchaser of an apartment in block 8 in August 2006. With the ongoing saga of the road / completing other phases etc. I don't know when I will complete. My purchase contract constructed by my lawyer basically took over all the rights and obligations of the off plan purchaser. I paid over what the off plan purchaser had paid to Arenal plus a small "profit".

I have a copy of the bank guarantee made out in the names of the original off plan purchasers. I have been re-assessing my options lately in light of the exchange rate, cost of borrowing etc. I really don't want to walk away but I thought I'd ask my solicitor if it was possible to call in the bank guarantee and possibly get compensation.

My solicitor talked to the developer yesterday and it appears that for me:

1. I can't call in the bank guarantee because I am not the original purchaser (even though I thought my purchase contract took over all rights and obligations).

2. The Developer said that compensation was not an option.

3. The Developer has kindly agreed to send my solicitor written acknowledgment that I am now the owner of the apartment which makes me think why didn't my solicitor chase that two years ago!

Has anybody got experience of this...i.e. if you called in the guarantee were you the original purchaser or were you in the same position as me?

P.S the Developer bleated on about the road, and how inflexible the town hall is being by not agreeing to the habitation license for the rest of Phase 1. As for completion dates fro the road...you got it...not a dicky bird.

thanks

Steve

My deposit is due to be returned about now so in making a routine call to check on when exactly it is to be paid, I am told that Elena is away on maternity leave and the alarm bells immediately started to jangle. After singing the praises of my lawyer I now find she's away and there appears to be a lack of knowing what is going on in the office!

Sure enough the 'replacement' knew nothing about it and had to investigate the situation. She came back with the classic reply; 'We are waiting for the developer to come back to us with a schedule!'

It had better happen soon otherwise I may have to find a lawyer to sort my lawyer!!??
Alan

Hi All 
this is not to do with return of deposits ,
It is just to let people in Phases 2 / 4 that I have posted some photos of the phases, two show the grounds of phase 2 back and front , the rest are of phase 4 .

Cheers 
Robbie / Barbara.

Hi Alan,

Did you manage to find out who has replaced Elena?

Off to see Spurs at Carrow Road, at least the start of the footie season will take my mind of this development

regards

Hello Bob,
Elena's replacement is someone called Esta. I have not been able to chase her up as I am on holiday at the moment. I will get on to it next week.

Just heard we've signed Bentley and are now going for Arshavin. What with all the comings and goings could be an interesting season.
regards,
Alan

Hi Alan,

Thanks for that, we would appreciate her contact details when you have them.  Spurs a class apart from Norwich and the new boys look good.

Bob

Hi Bob, Good result yesterday against Celtic. More of that would be nice.

The contact details for Esta are exactly the same as Elena's. In fact I asked for Elena and was put through to Esta so presumably she is dealing with all her clients.
If you need the phone number let me know.

Alan

Dear all, we put down a deposit for apartment in phase 4 approx 4 yrs ago....was due to complete 18 months ago...now being told it will be "spring" 2009...but dont believe that. We contacted our solicitor to say enough was enough and we want to pull out....developer came back with an offer of an apartment in phase 1 but we dont want that. He will not return deposit. Our solicitor has told us they will take him to court but it will cost is another 9,000 euros and take anything up to 18 months.....does this sound right??? cheers Steve