Legal Advice Please.

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03 Apr 2010 00:00 by verona Star rating. 13 posts Send private message

Hi

I am after some expert legal advice please. I bought an apartment of plan 4 years ago. The complex was supposed to be finished end of 2008, it wasn't. The complex was finally finished December 2009, although it still hasn't been granted the Living Hahibtation Contract, this could ber another 12 months away. I was asked if I wanted to complete but I declined on the hope the pound might be a little stronger in 12 months.

A friend of mine has since approched the developers to ask for a discount if we complete early to which they gave said no.

Before I go down any legal route, I want to know what my chances are of getting my deposits back if I want to get out? I don't believe I was given a bank guarantee.

Many thatnks.





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03 Apr 2010 10:27 by Faro Star rating in London. 1156 posts Send private message

Some would say yes you stand a chance of getting back deposits or of claiming compensaton.

I would say you might be better trying to make the best of a bad deal rather than entering into lengthy and expensive legal battles. So continue negotiating with developer. I am surprised they are not offering discounts to entice you to complete?

If you do decide to complete early then I would suggest retentions or placing money in escrow pending licence being issued.

Also you should check out financial status of developer and make sure he is not in danger of going bust in interim which might leave you in quick sand!

There's a character called Goodstitch who has been through the mill - get his view!

But if you want expert legal advice I would suggest naming the developer and development that way if there are any questions over the legality of your development that can be taken int consideration in any aswer given!

 





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03 Apr 2010 11:15 by David W Star rating. 192 posts Send private message

David W´s avatar

Surely if you need legal advise the you should retain a solicitor

All cases are different and all peoples opinions are different, so to get advise on your specific case speak to a good indepenant solicitor

I





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03 Apr 2010 14:29 by verona Star rating. 13 posts Send private message

Thank you both. I'll speak to a solicitor. Just wanted to make sure I wasn't going to be wasting the solicitors and my time.

Cheers





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03 Apr 2010 14:29 by verona Star rating. 13 posts Send private message

Thank you both. I'll speak to a solicitor. Just wanted to make sure I wasn't going to be wasting the solicitors and my time.

Cheers





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04 Apr 2010 12:18 by claire T Star rating in Torremendo, Orihuela. 700 posts Send private message

EOS Supporter

Hi Verona - do NOT complete without the Habitation Certificate!!!! 

You will not be able to sell again without it and you also need to ask yourself why it hasn't been issued - it usually means the builder has not finished all the works on the development or has not stuck to the plans agreed with the town hall.  If everyone completed and paid the developer then they may never finish things off.  There are many stories on this forum of people having to club together to finish their own developments at their own cost - long after the builder has disappeared.

If you bought 4 years ago then prices will have dropped massively - depending where you are, up to 50%.  If you are able to get your deposit back via a good solicitor then I would recommend coming out and having a good look around at resales or "key ready" properties which have ALL their paperwork complete.  You will be spoiled for choice.

As Faro said - if you want more detailed information about your own development then name the builder and location and you will probably find that someone on the forum will have more info for you.

Good luck!



_______________________

Claire

 

 

For great value properties in southern Costa Blanca

 

www.realcostablanca.com

 




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04 Apr 2010 17:03 by verona Star rating. 13 posts Send private message

The apartment is in Javea, Costa Blanca.  It's of a very high standard and finish but like you say, not worth the money now. I don't want to name the developer until I have spoken to my solicitor.

Thing is, when buying off plan, they don't increase the prices when things are good, so I can't see them reducing the price when things go bad.

Some people have alredy completed, but I'm not going to take the risk. I would like to get my money back and then see what happens in the market.

My fault at the end of the day. I bought when times were good, but that's the gamble you have to take in life. Some you win, some you lose.

Fingers crossed I'll have a case.

 





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04 Apr 2010 19:41 by Faro Star rating in London. 1156 posts Send private message

Verona

If you are happy with the unit and still in love with the idea of Spain etc and you can still afford to complete then don't be tricked into litigation. Of couse a solicitor will say litigate becuase they get a healthy fee from you!

Find out why the developer has not yet received his licence and then consider retentions to cover remedial works required to get licence etc. and continue to negotiate on price for an early completion.

On one hand Claire T is right and that's pretty much the advice a solicitor should give you. But then you also have to be aware of the alternative and if you go that route it's never straightforward and developers/banks are not simply posting cheques back. It will go to litigation and that phase will probably cost you approx EUR5k and bear in mind if you lose you could also be liable for the other sides costs as well and then there will more than likely be appeals and whilst all that is going on the devopoper will be granted their licence and you will still be paying legal fees!!!!

When you are exposed without guarantees (even though some would argue an implied right!) I would prefer to have something tangible just in case developer goes bust etc unless you want to join the Aifos creditors!

In my first posting I said sometimes in Spain you have to make the best of a bad deal you don't need a pyrrhic victory. The legal system is a completesham and the judges have no consistency in the judgements they hand down.





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05 Apr 2010 07:42 by mariadecastro Star rating in Algeciras (Cadiz). 8098 posts Send private message

mariadecastro´s avatar

 Verona:

If you finally decided to cancel the contract, I would advise you to perform to simultaneous claims: once against the developer and another one against the Bank which did not secure on the existence of Bank Guarantee.



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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05 Apr 2010 10:03 by Faro Star rating in London. 1156 posts Send private message

Maria

 

How much (more or less) would that course of action cost?





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05 Apr 2010 12:40 by mariadecastro Star rating in Algeciras (Cadiz). 8098 posts Send private message

mariadecastro´s avatar

Well, there are minimums by the Bar association and from there, it really depends on every lawyer.



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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05 Apr 2010 13:10 by Faro Star rating in London. 1156 posts Send private message

ok - so there are scale fees but let's say more or less or ballpark what the fees might be for the course of action you are suggesting if scale fees applied.

Let's say the deposit paid was EUR75k.

 





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