la herencia de casares

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28 Jun 2011 00:00 by jglassar Star rating. 11 posts Send private message

We put down 146,000 euros deposit on appt in la herencia de casares, spent 9,000 euros on lawyers fees, been to court in Madrid at even more exepnse,Developer now in liquidation,What can us brits do that spain takes responsability.





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28 Jun 2011 16:20 by Faro Star rating in London. 1139 posts Send private message

who was the developer?





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28 Jun 2011 16:53 by jglassar Star rating. 11 posts Send private message

Hi The developer was Capitel S.L.





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28 Jun 2011 17:01 by Faro Star rating in London. 1139 posts Send private message

I take it there is no bank guarantee?

what's the background to trying to get back your money?

was it that the devolvement was never built or is it that they were just late finishing and prices have fallen considerably etc





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28 Jun 2011 17:48 by jglassar Star rating. 11 posts Send private message

We put down 30% deposit with a garanteed mortgage of 70%the property was completed on time,we then went over to complete,     , then the credit crunch, Barclays sa then said we will only offer 60%, we came back to the uk raised more money, flew back to spain a month later, Barclays then said they could only lend 50% due to the financial climate, we had a meeting with our lawyer and developer as the contract said we were entiteled to half our money back and go to court and fight for the rest,the developer sat there and said he has no money,so there we have it.

cheers phil.





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28 Jun 2011 18:09 by Faro Star rating in London. 1139 posts Send private message

Hi Phil

Thanks for the background.

I like to know the ins and outs becuase no two cases are the same. But many were caught in similar situations with banks withdrawing so called guaranteed mortgages.

In Spain sadly nothing is worth the paper on which it's printed.





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