Recovery of deposit money from El Balcon De Alcausin .

Hi everyone just wanted to give those of you who are still trying to recover your money back from off plan properties in Spain some hope and that hope is Maria at Costaluz Lawyers !

I purchased an off plan property  nearly four years ago through Medsea Estate Agents and at the time thought i had bought the dream how wrong was I !!!

The property was never completed after the recession kicked in and everyone from the builders ,Estate Agents and developers disappeared off the face of the earth ( not to mention the lawyer who was meant to be working for me who was recommended by Medsea who incidentally worked for the developers as well ! ) and i was left with a shell of a building which i assume is still the same to this day ! I was also left about £34000 out of pocket .

As i had ploughed all my savings into the property at the time i did not have enough funds to fight for my deposit back throught the Spanish courts so i returned to the UK and thought i would have to cut my losses and move on ,as i said that was nearly four years ago and it wasnt until May this year i was put onto Maria at Costaluz Lawyers from a friend who had purchased a property in Spain ,he said she was excellent and highly recommended her

As i now had enough money to fight my case i decided to contact Maria and i am so glad i did !

From the first email I Sent to Maria she replied promptly and immediately set my mind at rest that i had made the right decision by contacting her,she also explained step by step how we would go about fighting my case and what the timescales and fees would be.

Any questions i had for Maria however trivial  were answered usually within minutes ( not unlike my previous lawyer who would reply to me about four weeks after i had contacted him ! ) .

Well it brings me to last month when I received an email out of the blue saying the insurers of my bank guarentee wanted to settle out of court ! I think shock was not the word as i really didnt expect this so soon , i decided to turn down the first offer and they dually came back with an improved offer which i decided to accept . the money was transferred into mybank account  yesterday and i cannot be more happy ! incidentally i did not have my original bank guarantee but i did mange to obtain a copy which Maria used when dealing with the insurers .

So people there is light at the end of the tunnel and if you are looking for a good Spanish lawyer then look no further than maria and Costaluz lawyers .

Thanks again Maria my faith in the Spanish legal system has been restored ! you do a fantastic job and i wish you all the best in the future and hope you continue your fight for the many Britsh people who have lost out on thousands of pounds over the last few years .

Grant King

Dundee

Scotland

Hi Grant

Fantastic news.  Another positive ending - they are becoming more frequent now.  It gives hope to those of us still fighting for a resolution to our problems.

Your story is all too familiar - Lawyer recommended by the agent or developers and acting for both seller and buyer.  There are too many situations like this - they all collaborate together.  Then when the going gets tough, they all disappear.

And your point about not having the original Bank Guarantee, but just a copy of it.......It is important for anyone with a Bank Guarantee to realise these two very important points:

1. Your Lawyer can still execute your Bank Guarantee even if you only have a copy and not the original document.  You will just need to sign a notarised document to confirm that you will have no rights over the original Bank Guarantee if it was ever found.

2.  According to LEY 57/68 Article 4, Bank Guarantees only expire when the property is completed, the Town Hall issues the Licence of First Occupation and the developer gives the LFO to the buyer or the buyers solicitor.  Bank Guarantees must not have pre-determined expiry dates.  If they do, then that clause is void and LEY 57/68 Article 4 should be followed.

Kind regards

Keith

Thanks keith  i still cannot believe i actually have the mone back in my  the bank !

As you said the tide is turning and hopefully we will see many more cases won in the coming months. 

Good luck Keith and hopefully you will have what is rightfully yours returned in the very near future.

Regards

Grant

 Thanks Grant!

Thanks again Maria you and your team do a fantastic job !

All the best for the future .

Kind regards

Grant

Wow, so good to hear such positive stories.

Great stuff.  Keep them coming.

Justin

Brilliant news, and so encouraging for those of us who are still waiting, we have court decision for developer to return deposit plus interest, plus legal fees, we also have judgment  to seize amount from  developer's bank accounts, but they also refused. A property was seized last October which could have raised the amount, but nothing happened. So we are most encouraged to see positive results when people get their money back, we have been trying since 2007 but now pray for the day when, like Grant we see our money delivered to our bank account. Please keep the good news coming as this does give us hope. 

Rosemary