AIFOS/CajaSur partnership

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02 Oct 2012 23:06 by fazarelli Star rating. 205 posts Send private message

Hi all, been along time since i posted in here but have been 'lurking' with intent!

I need a bit of input into this matter, even if it just to confirm my feelings on it.

I received a recorded delivery letter from Aifos today, which stated that Aifos have reached an agreement with the bank CajaSur to continue the build of Cortijo de Torreblanca in Fuengirola. Alongside the letter was a scanned copy of the aforementioned agreement (which is Spanish), which, when translated, states that the project will be rebuilt if 85% of the purchasers agree to it.

This sounded quite promising and i took the opportunity to ring the phone number at the bottom of the letter.

The Aifos representative told me a bit more about the 'deal' but i hardly understood a word but he said he would send me all the details in an email.

I got the email and basically it said that the original contract (and therefore price) would remain the same! The alternative was to go into the administration process and wait 6-10 years for 45% of the deposit, which works out at about 20K euros. So i either get 20k back or i buy a property and immediately go into negative equity! Hmmm, let me think, that sounds like an irresistable offer. NOT.

My other option is take the original bank to court and get all 50k + legal interest (approx 25k) + legal costs. A total of about 80k, which would be pretty much enough to buy a property outright.

C'mon Aifos, you must think we're stupid!!

 

Anyone else had this 'offer'?





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