100% money back on failed Spanish builders bank guarantees

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20 Oct 2010 00:00 by cargic Star rating in Horsham Sussex, Buen.... 23 forum posts Send private message

cargic´s avatar
Hi All
Just returned from Spain we have a place near Guardamar Del Segura, we looked in at El Pinet not much has changed there apart from new road signs and road white lining. We did look at properties for sale and there are some real bargains to be had, where prior to this downturn the prices at Jumilla were at least 40% cheaper than the coast, this is now no longer the case and properties along the coast are now much the same as the prices we were being asked to pay at SADM
 
 I found this article in my inbox I thought some of you may be interested in

   http://www.prweb.com/releases/2010/10/prweb4653954.htm

 

Thanks for reading



_______________________
 Regards Clive


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22 Oct 2010 17:45 by craftyange Star rating in Wakefield, West York.... 14 forum posts Send private message

We got a letter from the Solicitors Alonso and Haro on the previous posts link. It was inviting us to a meeting on 21st October in Murcia. We had only just returned from holiday so could not have attended anyway. It says in the letter and the link that the judgement states the builder is liable to pay 35% to us 10% after 4 years and the balance of 25% at the end of the 5th year.  Meaning we are taking a 65% loss.  ????

Just wondered if anyone else had received the letter and if anyone had attended the meeting. Sounded ok they said they are no fees to pay, but they do take the bank interest that they negotiate from your claim which could amount to quite a lot of money.

 

 

 




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22 Oct 2010 17:45 by craftyange Star rating in Wakefield, West York.... 14 forum posts Send private message

We got a letter from the Solicitors Alonso and Haro on the previous posts link. It was inviting us to a meeting on 21st October in Murcia. We had only just returned from holiday so could not have attended anyway. It says in the letter and the link that the judgement states the builder is liable to pay 35% to us 10% after 4 years and the balance of 25% at the end of the 5th year.  Meaning we are taking a 65% loss.  ????

Just wondered if anyone else had received the letter and if anyone had attended the meeting. Sounded ok they said they are no fees to pay, but they do take the bank interest that they negotiate from your claim which could amount to quite a lot of money.

 

 

 




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17 Nov 2010 15:05 by laura1 Star rating. 9 forum posts Send private message

We got a letter from Alonso and Haro. At first we were upset that a company we never heard of should have so much information about us, then we decided to speak to them as we thought our own solicitors were taking too long, and we thought we were never getting our money. We thought they seemed very genuine, but amazingingly we found out from our usual solicitors that our money was in our bank account. We found it very hard to believe and as it was Friday evening we had a long wait till Monday when the bank opened. BUT IT IS TRUE WE DID GET OUR MONEY BACK FROM OUR BANK GUARANTEE




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17 Nov 2010 20:19 by alantracey Star rating. 205 forum posts Send private message

congratulations Laura1.   




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18 Nov 2010 10:06 by suemac Star rating in Jumilla, Murcia. 1015 forum posts Send private message

One point to make is that with a bank guarantee you should always get 100% back - that is what it is guaranteeing, all of your deposit! - but it may of course take a long time, so anything that speeds up the process is good news.

However many of us never received a bank guarantee!  The offer quoted in the link and in craftyange's post is incorrect though, as the court agreed that we would get 65% back (35% loss) and not the other way round.  Still not great, but better than only 35%!

Sue



_______________________

 Sue Walker

Author of "Retiring the Ole Way", now available on Amazon

See my blog about our life in Spain: www.spainuncovered.com



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18 Nov 2010 18:57 by laura1 Star rating. 9 forum posts Send private message

Thank you Alantracey. Dont know what your own circumtances are, but wish you well. I know what Suemac says is true, but it is very hard to believe a Bank Guarantee makes any difference when time passes by with no news. Although I dont post much I always try to keep up to date with whats going on, I will continue to do so as everyone on here has helped keep me sane, sometimes in the dead of night when things seem so much worse. Thank you all




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18 Nov 2010 23:15 by Laird Dave of Lochaber Star rating in San Miguel De Salina.... 184 forum posts Send private message

Congratualtions,

We know how you feel. Its a great feeling to know that for you at least the worry is over, now you can get on with your life.

Enjoy

 

Dave




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20 Nov 2010 01:05 by laura1 Star rating. 9 forum posts Send private message

Thank you Dave




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27 Nov 2010 09:19 by auntielinda Star rating in San Miguel de Salina.... 654 forum posts Send private message

 Just thought yoo would all like to know Far has got his money back on his out of date BG so although slow there are solicitors out there fighting for their clients rights



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Great Auntie Linda

 



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29 Nov 2010 20:30 by briando55 Star rating in South Yorkshire. 917 forum posts Send private message

Hi Suemac

On the subject of not having a bank guarantee, which many people did not.  Has anyone ever had any joy in taking any of these

shysters to task about not issuing BG's at the point of contract exchange do you know?

Regards

Brian



_______________________

Best wishes, Brian

 



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30 Nov 2010 23:14 by julie anne Star rating. 1129 forum posts Send private message

Hi to all hope you are well

Sorry auntielinda but I would just like to remind everyone that there is no such thing as an  " out of date "  Bank Guarantee !!!!!

All the same well done to Far excellent result . However  to memory , Far was always one to take  good heed of all  advice offered  and  was not easily put off  .Especially by  low rate lawyers feeding  the same old tosh that  BGs were  useless as they  were out of date .

You can't keep a good guy down !!!!!! and well done to Far for refusing the same old same old  bull

 Oh Yes  !!!   Brian many have but it is not the "shysters "  you go after .

Good luck to all . I am out of all this both with and with out a BG and an out of date BG  to boot !!!!

 Don't give up .Best always .JA


 



This message was last edited by julie anne on 30/11/2010.


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01 Dec 2010 00:07 by briando55 Star rating in South Yorkshire. 917 forum posts Send private message

Sorry JA. I have absolutely no idea what all that means.

_______________________

Best wishes, Brian

 



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03 Dec 2010 01:24 by julie anne Star rating. 1129 forum posts Send private message

Brian I am not sure which part you do not understand .Please be more specific and I will try to explain .JA




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03 Dec 2010 18:56 by TonyMal Star rating in Oxfordshire. 1093 forum posts Send private message

JA,

I can read what Brian means, so could you explain to him why no BG becomes out of date?

All the best

Tony




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03 Dec 2010 19:32 by briando55 Star rating in South Yorkshire. 917 forum posts Send private message

Hi my question was directly about bank guarantees not issued when deposits are taken. Has anyone had success in taking action against that practice. The failure to give bg's is the practice of 'shysters' it was illegal and unprofessional. Has anyone taken legal action on that point that you know of?

_______________________

Best wishes, Brian

 



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03 Dec 2010 23:18 by TonyMal Star rating in Oxfordshire. 1093 forum posts Send private message

Hi Brian,

As you had a BG and you got your money back why are you asking?    I just find your interest rather odd.

All the best to you and I am gald that you got your money back

Tony




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04 Dec 2010 18:34 by briando55 Star rating in South Yorkshire. 917 forum posts Send private message

Hi tony I havnt had a penny back, and never had a bank guarantee, you have me mixed up with someone else perhaps. I was written to by San Jose asking to give a posiive vote, for them. They pointed out that if they were wound up the assets would be too low to pay out. They also stated that the land at albatera would not be part of the assets, because they want to develop this later. It's a flagship development apparently. They want me to have a different property that I don't want, in a place I dont want, at a time that's too late. They want to keep the land they offered to me, on which they failed to give a regulated BG, to sell to someone else later. They are about as transparent as FIFA matey can I ask if anyone has had success in chalenging about not issuing bg,s. Or if there is info about this type of challenge please

_______________________

Best wishes, Brian

 



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07 Dec 2010 19:29 by julie anne Star rating. 1129 forum posts Send private message

BG's can not be out of date as in Law they are valid until the build is complete and the First Certificate of Habitation is issued.

I have claimed and been paid in full + costs + interest on an out of date BG .Any Lawyer who tells you different is wrong ( Change Lawyers )

Briando You really need to change lawyers !  In answer to your question. Yes some have managed to sue their legal eagle or property agent  for negligence . Not easy but possible. Better than waiting years for naff all !!!!!!! 

As I have said before it is the bank who received your deposit that you go after .I have had success on this front with 2 properties my late father was purchasing (No BG' ) .Very complicated in my particular case . but much easier and possible for many . Talk to Maria or  Martin ( Lawyers  who post on this site ) Don't think you can't  afford good legal advice , It is worth every penny  in the long term and such a relief to get good representation after the dross advice of crap lawyers and amateurs like Tony . Take the bull by the horns .Good legals = results full stop . No other option in my experience . If you pay peanuts you will get monkeys .

Tony !!!!! I find you stranger than a barrel of wild monkeys . Are you working for SJ or purchasers ?????? I  do despair  you seem to have a one track mind where advice on this is concerned  . It would seem  that by your reckoning  it is  SJ's way or the highway .  I beg to differ . There are soooo many more options but you seem unable or unwilling to discuss .

Sticking with SJ may turn out to be the biggest mistake ever however you advocate no other options for purchasers .You are way wrong  . I have ignored every piece of  the  advice you and SARC have given .I have  taken good legal advice and have done very well .

Tony your advice to purchasers is crap . I do  hope SARC are well insured   or are SJ paying  for any litigation action against SARC et al  as well !!!!! I do despair   Get real Tony dis the bad guys like SJ  not the decent lega eagles  who  have got loads of us out the shit  recently  !!!!!!!  JA

 


 



This message was last edited by julie anne on 07/12/2010.


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07 Dec 2010 21:23 by briando55 Star rating in South Yorkshire. 917 forum posts Send private message

Hi

I have had some good advice over the last couple of days through private messenges on here, concerning my questions and my concerns.

I have been waiting quite patiently, for SJ to come out of administration, because the system has protected them from the challenges they should have had, had they not been under the protection of the legal system.

I now have the chance to meet them in the open air, as it were.  And also to seek answers to the questions about their behaviour before the administration was agreed. 

I want to ask the questions about my bank guarantee not being provided, even though it was illegal not to do so.

I want to ask my solicitor why this was not part of the challenge made in the courts in my case.  I am awaiting a response on this point.

I want to ask why San Jose are not including my chosen site (Albatera) in the administation process.

I want to ask why there has been a web based organisation dealing directly with the company in administration who have been seeking to further their business activity while they are in administration.

I hope some people have answers to these quetions and have a cheque book ready if they have acted against my interests, because I have been saving up!!!!!

Brian

 



_______________________

Best wishes, Brian

 



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