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Sunday, January 21, 2007
alanwspencer
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Does anybody know what has happened to the Las Vistas development in Eviria? We were to purchase an apartment there but called in our Bank Guarantee when all building was halted due to permits not being in place. This was part of the Marbella Mayor scandal. I understand quite a few people were caught out as they didn't have Bank Guarantees! We were told that the construction would probably would be completed at some point but when was anybody's guess.
Alan
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23 Jan 2007 8:02 AM
Tish
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Alan, did you get your money back from Las Vistas? Did you have to go to Court or did the developers pay up?( I suspect not!!  ) I'm just curious.
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23 Jan 2007 10:20 PM
alanwspencer
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Hi Tish
Yes we got our money back! No court & it was paid more or less when they said it would be. The only negative was we were paid interest on our investment at about 4% but by the time we paid the legal fees we broke even. But really we were just happy to get our original investment back.
Cheers Alan
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23 Jan 2007 11:42 PM
Smiley
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Not sure it will ever happen - have put a few feelers out today - amazing how many people have never heard of it which is normally a sign. Who knows if the whole project was illegal then with the current situation that will probably be the likely outcome - people who live in the area no idea of the name so guess that speaks volumes
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24 Jan 2007 6:36 PM
Tish
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Well done Alan!
We received approx 4% interest too, but we also got our legal fees awarded to us by the Court.
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19 Feb 2007 5:49 PM
alanwspencer
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For anybody interested, the developers have still not had their building license reinstated at Las Vistas and therefore the area has become a ghost town. It is not clear whether the project will ever be finished. I feel sorry for investors that bought without a Bank Guarantee, and apparently there were quite a few.
Alan
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