06 Nov 2010 6:13 PM:

 Our property was originally due for completion in January 2007, after waiting so long we decided we wanted our deposit back. We changed solicitor in January 2009 as our original solicitor did not seem to have our best interests at heart. We had to pay the original solicitor a lump sum just to release all our documentation. We are now waiting for a court hearing date. Our case was presented to Peinsa in March of this year & when I saw our solicitor in August he was optimistic of a good outcome by the end of this year. I think he is dreaming. He did say that the court had just found in favour of another of his clients. I asked if the client had got the full deposit plus the 6% per annum interest which is the law & he said Peinsa had offered the client a lower amount than the original deposit & the client had accepted that rather than wait for Peinsa to put in an appeal & then have a long wait for another hearing. 

Community thread: Bad news for those waiting for return of deposits

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23 Jan 2009 1:17 PM:

I agree with KP. We changed solicitors last week to someone recommended by a purchaser on this site. We were with the same solicitor for over 3 years that we were taken to by ambasun. We got more information in the hour we spent with our new guy than we have had in 3 years. We were never offered a BG & did not know one existed until coming on here. Plus the previous solicitor wanted 2.5% of house price on completion, new guy charges 0.75%, a saving of 3500euros.

Community thread: complete or not???

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16 Jan 2009 12:00 PM:

We spoke to Patricia yesterday. She estimated phase 7 would be ready by December. According to her Peinsa are negotiating with another sub contractor now to replace Obralia but there is no sign of any work starting soon. We went to speak with a new solicitor regarding our options re getting our deposit back. He gave 3 options. 1, Demand a refund. This in his view was not a good idea, if we had asked this 8 months ago he would have said yes but we would be too far down the list of creditors if something were to happen to Peinsa. The 2nd option was to get a bank guarantee which we have never had & be able to execute it in 6 months if building is not finished. The 3rd option was to apply for ownership & complete without the habitation license then at least we would own the property but he said he would not do this unless there were alot of people in the same road doing the same as we would find it difficult to be connected to water, electricity etc. Hope this makes sense!!

Community thread: Returning monies???

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20 Dec 2008 10:56 AM:

I've heard the same thing from my solicitor.  I,m phase 2 & am awaiting bad news regarding Peinsa in the new year.

Community thread: completed today

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