Has work stopped on your development...Are you trying to recover your deposit?

Hi

Having paid a deposit on a property in Spain (off-plan), I am now in the middle of a legal battle to recover my deposit as a result of the builder stopping work on the development, and subsequently going into administration.

I am looking to hear from people in a similar situation - I feel there are lots of you out there and if we get together, maybe we can get some action and support from  - well I am going to try my local MP and the national press.

Basically I think it is scandalous that we have guarantees that our money is safe, but when we try to get it back it is a big legal issue, costing money, time and probably heartache for many.  I am hoping the power of many voices will help us get heard.

Thanks

shepcote21 you need to take time to look through the numerous posts on EOS about property scandals etc etc. There are groups on here you can get together with, there are has been alot of legal action, alot of talk with MP's and the press etc etc. There are so many posts on this subject it's hard to believe you have not noticed them already.

 thanks redsam79

I have looked, but couldn't find anything apart from one thread....I will look again

 Shepcote:

So... do you have a BankGuarantee or Insurance policy for the refund of your money? Have you tried to execute it?

Shepcote

Have a look through the 'my Community Forums' - Almanzora and tabernas Oasis

Shepcote,

Check out the "rough justice yet again" thread.

Have you joined the Spanish property scandal petition?

Thanks for your replies.

I do have a guarantee for the initial deposit, however they did not supply one for the stage payments...even though we chased many times.

Our legal claim is currently lodged with the court in Madrid, and we hope to attend a creditors meeting soon to see what is happening...

It would be especially nice to hear from other Tasa buyers

Tabernas Update.

Another walk on the wild side yesterday revealed  work definitely going on.

It seemed as if the interiors of the front row were being worked on and also the upper part of the buildings.

There were at the time six vehicles parked...

Sales Office was vacant..but sadly looked as if some one had broken into it!

So maybe good news for you all at least there is movement!

Kind Regards.

 Shepcote:

My advise is for not placing too much expectations on the creditors meeting procedure as these credits are very poorly classified.

I would advise you to use the Guarantee for the recovery of all the amounts you paid. You just need to prove that you made all payments to same account ( the one whose in relation the Guarantee was issued).

Shepcote

If your stage payments were paid to the same developers bank account as the original deposit (for which you did get a Bank Guarantee) then you should take legal action against the Bank who issued the Bank Guarantee according to LEY 57/68 Article 1.2

According to Case Law the developers Bank who issued the Bank Guarantee are responsible for the total amount of your deposit/stage payments that they accepted and not just the amount they chose to issue a Bank Guarantee for.

Kind regards

Keith