A Bullet for the King

Hi All,

Wonder if you could assist?  We are seriously thinking about recinding our contract with GT as we have not yet received our bank guarantees after paying 1st payment in Sept 07.  Please could any of you advise if you have received them and how long you had to wait until you got them.  did you have to badger GT to get them.

we will be extremely grateful for any replies as we are banging our heads now in frustration.  If your bank guarantees were late, how late, and what did you do to get them in the end????

Sorry to drop in on here, but need to know your answers as same builder!

Pleeeee se help!!!!

Regards

Chris & Darren (Plot 308 Royal Dream)

hi Chris and Darren

I had to wait 9 months to a year to get my guarantees and how I did it was to turn up unannounced at Geay Y  Truyols

head office on the  first day of my trip and ask for gaurantees and visited again before I left and the next two  weeks brought them in the post via my solicitor.

regards

gerry

Thanks for that Gerry, anyone else out there can comment pleeeese???

all advice will be greatly appreciated!!!!!

Chris

I think you need to get legal advice on this one. As we understand it, the bank will only give a guarentee on a development which has licences in place. This might be why you haven't recieved them. Some people were offered 'company guarentees' which don't mean anything if the Company goes bust.

Our solicitor tells us that it is a legal requirement to give you a bank guarentee at the time you pay your deposit. Several solicitors in Spain declined our business when we were thinking of buying on El Trampolin because no guarentees were offered.

Your solicitor should chase them for you.

Hi all, I have wrote on here before about how usefull it can be to have other developments on eye on spain so you can read  about the problems and also the highs other buyers are having on other developments and just before the thread about guarantees came up again I was reading about the people buying from Polaris world at Condado De Alhama they are struggling to get their guarantees also they have been told they dont get them untill they are just about to pay their 2nd down payment , Sierra golf is another one I look at, their past the guarantee stage their at the Habitacion licence stage and believe me it does not get any easier,some of them their villas are finished they have just had their own grills fitted and air con and are now ready and willing to move in , but guess what Masa who's site it is say they have to wait 12 months as they have not sold enough villas on their phase so wont sort out their habitation licence out till they have,the point here is were all in the same boat whether we buy from the Spanish giants of Polaris World or Masa or even the tuppeny hapenny Grupo Trampolin which were buying through, oh and by the way the people at Sierra golf who are waiting for their lcences are disgusted as some have already waited 4 years for their property,I only have a company guarantee from TH but the dicount they offered to take it was too good to turn down and as I've said before if it does go pear shaped I have plan (B)  

Regard Dave

WOW!! there are obviously some tales to tell.  Thanks for your responses, all greatly appreciated, so does that mean the other purchasers on both developments who have their bank gurantess are not the real McCoy if it all goes belly up? 

Oh Dave, I'm intrigued, what is your Plan B?????

Keep the replies coming, we are learning more and more everyday!

Cheers

Chris & Darren

hey guys,

This is going to make some of you feel really good about what you bought.  We bought at TH in August 2005, yes that long ago,

paid the asking price, and were never offered any discounts whatsoever have no guarantees whatsoever so, if it does all go belly up we shall end up with nothing WHATSOEVER[ however in the light of recentb info imsure its going to be OK

Hi Everyone,

WHEEEEEEHEEEEEE!!!! email received this morning from our solicitor in Spain advising us that he had received our bank guarantees from the bank for our purchase on Royal Dream.  Hope that eveyone else who is waiting has also received good news today regarding their bank guarantees.

Thanks for all your inputs and brillliant news that your development is nearly there ready to begin construcion.  I am told that ours will begin in parallel to yours in so much as 4 weeks.

Look forward to seeing you all on the 19th Hole!!!!!

Best Wishes

Chris & Darren (308 Royal Dream)

well done !!!! It does make one feel much more comfortable doesnt it

good luck

gerry

Thanks Gerry, one does feel rather more comfortable now I say!!!

Looked at your photos, looks like progress!  good luck to you and all the other Trampolin Hills buyers!

Lets keep in touch through out each build stage with our reports from both developments!

See you on 19th!!

Chris & Darren