Apartment complex not to specification and Bank Guarantees

Hello all,

We have plans for our apartment complex in Marina Del Castillo, Duquesa with a 2nd swimming pool clearly marked between the complex and the beach, we have heard that this pool is now not going to be built.

Where does this leave us with regards to completion and the bank guarantee if the pool is not built.

Can we claim a reduction in the purchase price or even pull out of the deal and claim our deposit and expenses back?

Any advice/comments welcomed.

Kelvin

It may all depend on the wording of your contract and the plans which were a part of it

Ask your lawyer and even the agent who sold you the property  who ' should be giving you an After Sales Client Service'which most good professional agents do provide 

If it is not covered in your contract and you were relying on ' original marketing brochure' and the developers have had to change their proposals  due to the current 'problems' in CDS then you and your agent may be able to negotiate some compensation

it all depends on the contract 

There are Supreme Court decissions ( source of Law) allowing the cancellation ( money plus legal initerests back)  becasue of the lack of a pool).

Of course any publicity brochure is part of the contract.

Is that so?

In UK it iscertainly not because there will always be a 'caveat' .....for illustration purposes only or similar!!

And ' subject to contract' so that what you sign for is what  you get!

Interesting 'if all marketing' for the development in Spain is part of your contract'..... does that apply to all ' marketing info' not just property

Eg big plans for Marina de Cope East of Aguilas [ Almeria] now announced and it will be a 15 year development but the first phase buyers will have to accept that over that time plans may change

So you can only be certain by the actual terms in your own contract for what you buy

Is that not the situation? 

Thanks

You learn something new everyday

brian

Thanks for the replies, I feel better knowing that there are laws in place to protect the sale.  Do you think it wise to wait until the completion of the build or start to make representations now?

Thanks

Kelvin

Dear Kelju,

If you bought into that development, you have done well. Historically speaking, properties in great locations will appreciate in value in the years to come. Where as certain overbuilt and over supplied areas on the CDS are slowly losing their value, your type of development will not.

Front line beach, walking distance to a marina, historic fishing village, golf course, all amenities, only one phase... How many other new developments do you know of with these characteristics? I for one, do not. So, talk to the developers, make your point. But if I bought into the development myself, I would not walk away from it, no matter if a pool was built or not. After 25 years here, I know what these type of properties will do to your equity in the future. Be happy.

Ivo, asesor fiscal, Marbella

Pitby,

Sorry for the delay in replying, been away for a few days.  Yes it is Marina Del Castillo on the Duquesa Golden Mile/Ros Y Falcon development, interesting to know that the pool was abandoned on the Duquesa Village development but I think that this has got more to do with the promenade that is going to be extended in front of the apartment block, I don't know if planning regulations and/or building regulations dictate minimum distances etc.

Ivo,

Thanks for those encouraging words, I think I will wait to see what happens before reaching any decision. 

Kelvin

Hi

This is for Maria, who I have recently asked for advice via email, and who was very helpful - thank you.  Our problem is that the specification for our apartment has changed and patio doors leading to a small terrace loff the master bedroom has been replaced by a plain window.  We are obviously unhappy about this as the terrace was shown on the promotional plans and also the actual plan.  The developer has said the plan was just a general plan and that a clause in the contract allows for changes, whilst our solicitor is not being too helpful either.  If it is the case that the promotional plan forms part of the case are we entitled to hold out for an apartment on a later phase which is as the original specification?  Any advice would be much appreciated.