29 Apr 2008 5:39 PM:

I think we are all heading in the same direction here unfortunately! We have just returned from a week in Spain and I can tell you that there is absolutely no sign of life what so ever on the development, despite the fact that we were due to complete 2 weeks ago. I have asked our lawyer to "think outside of the box" for possible solutions (with the appropriate return only if successful). So far her only suggestion is that if the apartment can be sold on via an agent then any excess over the balance due should retur to us. Frankly, looking at the price of properties in estate agents down there I think that the chance of selling it fo 70% of the asking price would be unlikely. Prices have fallen dramatically and properties are still not selling. A friend who lives on Selwo Hills tells me that there are penthouses that have been on the market for 3 years, now at €210k, which are not having any interest in them. If only this was England (!) and we could rely on the sale of goods act as the apartments now certainly do not reflect the sales documentation that we were all sold the promise on!

Good luck one and all, and let us know if anyone has any bright ideas

IanL

Community thread: Sofa Bed For Sale

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12 Mar 2008 11:23 PM:

My wife and I went to visit the development this week as we are being offered a completion date of 15th April (YES - 2008!). We were very very very disappointed. It could best be described as a development that was 90% finished 2 years ago to a high standard and the last 10% has been botched. The apartment door wouldn't open as it hadn't been fitted properly, wardrobe door handles open directly on to patio doors, holes in floor tiles, very messy painting and plastering finish, cracking of plaster in many places on the terrace, rusting rails and external fittings - the hot tubs are uncovered, the list goes on. Does anyone have any idea how many apartments have been sold? Ocean said initially that many had been sold to investors. Right now we will not be completing unless we get clear signs of vast improvements. Sadly we are not holding our breath.

Community thread: Sofa Bed For Sale

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