26 Jan 2009 7:05 AM:

 

Does anyone else have any more details?

 

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03 Jan 2009 10:04 AM:

Martin

We are no longer persuing the 2nd property option at Los Altos, initially because of issues with the builder although they have been resolved; however as you say this is not the ideal time to be purchasing properties that are over priced and against a week pound. We will be looking for our deposit refunded, which as you know means going to Court.

With regards to a Bank Guarantee, In Sanish law this has to have been requested and would have come at a cost (say 1%) which would have been charged to the buyer. I have asked the agent and this does not appear to be the case.

My solicitor insist that we have to wait until the 6 months period before we can start legal procedings, which is July 09; when will you be able to act?

Regards

Phil

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13 Nov 2008 2:10 PM:

Hi Martin

Yes we have purchased at Los Altos, like I said it was a comprise however the appartments are new with only a few having being sold so we had a good choice.

As I understand we are the only 2 to have purchased at La Sal with Iberian and they  were keen to get us transferred to another location!

I tried to send you a private message which came up 'error' .  Maybe you have better luck ?

Phil

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13 Nov 2008 9:11 AM:

Hi

Yes Iberian insisted that our money was tied with the builder and therfor we were limited to selecting a property owned by them. Obviously this limited our choice,and negotiating power.

We have transferred the deposit to the new property which has just recently been completed.

Phil

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13 Nov 2008 8:31 AM:

It seems like alot of peple are in a similar situation. I bought my property through Iberian International (with a 30% deposit) who have recently advised me that they cannot give any completion date as the builder will not commit.

After much deliberation and in light of the current banking/building problems I have now transferred my money to another San Antonio development at Punta Prima, this was an option that I was offered as I was advised that even after the 6 months clause it would be difficult to get my money back without a lenghty dispute. I am not sure if this is true. I have instructed a solicitor to look into this; however we are happy with the new property which is key ready and of a similar standard. Should be complete this Feb.

This has been a great dissapointment to us as we were looking forward to the La Sal development and I hope evrything goes well for you.

 

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