La Tercia Real - Off Plan Buying - Who Can You Trust

With the most recent posting about La Tercia Real, see below, I am wondering if any buyers will invest in buying from off plan projects

It seems that the only safe way to buy is either re-sales or key ready properties so that you can at least see what you are buying is complete

In my own business I have seen a dramatic downturn in people completing and my common common enquiry remains how can I get out of my contract

The situation at La Tercia Real is reported as following 

We have visited the site this morning along with a couple of other
families we have met up with out here and it is bad news I am afraid.
The site is closed and all building work has ceased. Sonia has left on
Friday and Elena told us (when we visited Head Office) that they were
told to pack up the site office on Friday. 

They are supposedly going to write to everyone and tell them that they will offer key ready properties at Mar de Cristal, Senorio De Roda and a residential place
near Murcia. 

They will not refund anyone and it is up to each purchaser to see their solicitors and get their money back. 

Directors wouldn't speak to us (they are busy and don't speak English!!).  

They couldn't tell us if the company were about to go under and can't say
when or if building will resume. 

Not sure now how these people stand, hopefully they have bank guarntees, but I suppose the gamble is now are the builder going bankrupt 

Yet agin the people that have to suffer are the buyers and the construction workers

Hi - is there any information on the main La Tercia site?  I have friends who bought there and when we visited the site just a few weeks ago it was very busy with workmen all over the place.  Their apartment is well advanced and they were working on that particular block the day we went out.

It is confirmed and for more information have a look at this link http://groups.google.co.uk/group/LaTerciaRealOwners/browse_thread/thread/f886446729780e42

Hi all,

It has come to my attention that PEINSA has applied for "Voluntary Liquidation"!

Please PM me for advice and reprecussions.

Kind regards,

Mark