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Tony, assuming that your source of information is solely SJ, I think it is about time that you demanded to know the truth and get yourself sight of the documents which joannie mentions. I think that you are in for a bit of a surprise.
They are there, it is just you have to seek and not rely on the subject matter for information.
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FIN,
My only surprise is the fact that if they existed that they are not made available to all. I do not beleive that this elusive document exists and that we are being misled by this information. The only account is that with BG money in it,which means that Ana, JA and others with BGs are all Ok every one else ....well no we have a different situation.
I remember you saying that you only care for yourself, so I take your comments in that context.
I WANT MY HOUSE
TONY R17 18
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Tony, but this is your problem, you only believe what you are told and that is from a company which has taken your money and to date has not supplied the goods and is unlikely to be able to, but still you choose to believe. Turn the tables. Put yourself in their position, wouldn't you at least smile?
"I remember you saying that you only care for yourself, so I take your comments in that context." - That is fine and I have no problem with that. So tell us, what assurances have you got of getting your money or a house, by listening to what is the opposition and falling in with a sect?
Even up to today. Just say that on Monday SJ ceased all trading. There are those out there who to date have seen some benefit whilst you have wasted more time and money flying out to meet with representatives of the company who have taken your money, but to date have not produced the goods for you.
I just feel that time has now run out for you and just in case there is some hope to secure just a little of your money, for God's sake start being realistic, start asking questions (not of SJ) and start protecting your interests. That is unless you are happy to see your money float away totally.
Be sensible if nothing else.
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Am I missing the point here? Why is there an account for BGs and that is for people who have one of these illusive documents? Surely the contract is between the Bank/Insurance companies and the individual purchaser. Why would SJ/HdT have money in such an account? Cheers Joanniemac
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Spanish Law states deposits should be placed in a seperate account and a wriiten guarantee be provided. San Jose/ Herrado de Tollo broke the law and continued to do so for a long time.
Every time they did not issue a bank guarantee they broke Spanish Law let's hope it all catches up with them!
Arlene
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Or a performance bond put in place with an underwriter.
Such Bonds are widely used in UK.
When a contractor has a contract awarded, as an insurance, they have to put up a performance bond. Normall 10% of contract value. Say the project was 10m this would mean them having to deposit in a safe account 1m. Instead, they often get a bank or insurer to underwrite, whereby they pay around 1.5% premium, therefore, reducing their outlay, although the bank or insurer will first have to satisfy themselves regarding forecasted profits, obtainale completion debts and credit facilities of the contractor. This message was last edited by FriendinNeed on 10/11/2008.
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Good news for you taxiparrot great to get a resolution of the contract with no conditions.Some of us are being asked to forgo some of our legal rights to get to this stage if you have managed this without forgoing any rights well done you . .How long did it take to do this through the court ,was it very expensive ? If you could answer any of these questions it would really help others with a BG to decide whether or not to accept SJs offer/ deal to resolve the contract with conditions ie forgo interest or any future rights to claim against SJ . I can only see this deal benefiting SJ or they would not have offedred it .Would be great if you could relate your experience to help others decide what to do may well be better for others to resolve the contract through the court as you have done .
Fingers crossed the bank /financial institutions now pay out quickly . I am confused about the interest situation I read some where that this is claimed through the bank then read somewhere else it was claimed from the developer ,does any one know or does it depend on the type of BG you have . Thanks for sharing this Taxiparrot well done JA
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Thank goodness the pound/euro exchange rate has moved the way it did, that will have more than covered my interest payments, so that will be me done - walk away and put it down to experience I guess. Does anyone know what happens about the VAT paid ? Ours was about €4k.
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HI John G I asked my lawyer about this the other day he said I wont lose this as it is included in the amount written on my BG This message was last edited by julie anne on 10/20/2008.
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Looks like things are about to move a little....at last
Feel like ive been waiting on the motorway for 4 months, for a jam to clear.....or a car smash to be shifted.....
Next question to ask, when the BG's are moving, is why did the company not comply with regulations, concerning giving bank guarantees to all depositors on properties.
Thats a question that really needs pinging off to Almudena
_______________________
Best wishes, Brian
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And the question should also be asked as to why!, once the first bank guarantee was not issued that banks continued to accept money, solicitors continued to release money to san jose and agents continued to sell properties knowing bank guarantees were not being issued. AND why didn't the legal system not kick in at the beginning of all this, before the credit crunch before they had more excuses. We all know the answers and as far as I'm concerned they're all in the same pot.
Next question to San Jose is where will they get the money to pay the 25% fine of all monies they took as deposits and failed to guarantee.
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Yes Redman
As the administration closes, the pressure will mount to actually talk to customers and provide answers to their solicitors.
That day will come soon(ish)....and the prospect of any sites continuing until these issues are addressed, is NIL.
Anyone who thinks its as easy as just supporting the builder through a lean patch, and then getting a house.........is going to be very dissapointed indeed.....
_______________________
Best wishes, Brian
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Briando SARC and anyone else can call me daft but logic would tell anyone that by the time they have adressed these issues there will be nothing left at all to continue with SJ have robbed us all if not with intent with foolishness greed and a whole lot of illegal moves .Surely no one can deny this now it is B obvious .Companies who have acted illegally even if the worse they have done is failing to issue BGs and we all kmow it goes far deeper than that , DO NOT GET refinanced .SARC gets more ridiculously blind and foolish with everyday that passes. They have set them selves up for a very hard fall .JA This message was last edited by julie anne on 10/21/2008.
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Hi All
Just wanted to share this with you
I googled something a while ago about bank guarantees in Spain and apparently in Spain it is illegal to put a date on a bg so therefore for anyone with an original bank guarantee which is now supposedly out of date by law it should still stand. The 1st solicitor we had in Spain also told us this a long time ago.
Having said this i do not know anyone who has been successful in getting their money back out of date or not, even after winning their court case
FAR
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