11 Mar 2009 12:25 PM:
To madmau43
Unfortunately I am not able to access the private message(s) you sent me a couple of weeks ago. This does not appear to function on my pc. I have to notifications in my e mail inbox, but have not been able to read the messages.
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02 Jan 2009 9:47 AM:
Hi,
I went out to Spain to look at other key ready properties from this builder. Although they have quite a lot completed, they are not in a position to sell many of them and those they can sell are not comparable to Pueblo La Sal. In today's market, all the other properties were well over priced. The builder is not in a position to negotiate much on these properties either as they have mortgaged them all to the hilt to keep their failing business going - i.e. they cannot decide the final sell price - the bank tells them what they are allowed to sell at. To be honest who'd wnat to commit to a property at the moment with the euro at 1.02 to the pound. The properties are now overpriced and the running costs will have gone up significantly. Hopefully they will go into admin soon and we can chase some kind of refund through a creditors agreement.
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13 Nov 2008 4:10 PM:
sshelton,
I requested Bank Gaurantee from Agent, Builder and Solicitor many times over the last few months with no responses. I am positive it does not exist. If the builder is in trouble than he will struggle to get a bank gaurantee for the monies as no insurer is likely to underwrite the monies having looked at the credit rating of the company.
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13 Nov 2008 1:15 PM:
Hi,
I am in my same position. Having purchased through Iberian in March 2007 and paying a 30% deposit no progress has been made. I have asked for the Bank Guarantee on numerous occasions - which the builder refuses to supply, which probably means it does not exist and he is breaking the law. As such, that means my 30% deposit is probably totally unsecure and I hear that this builder is in trouble from people I know who live on the Costa Blanca. Like yourself I am going out to look at other properties by this builder shortly, but none of them seem to match up to La Sal. I would be very reluctant to switch deposit unless the builder offered a big discount, as none of his properties are what I was looking for. I would be interested to know the property type you swapped to - is it at Los Altos, La Cinuelica? Not sure I recognise the Punta Prima site. Also, did you manage to get a discount.
In all fairness, I want my money back as the builder is in breach of the law by not supplying the bank gaurantee, but everyone is saying I have to wait until six months after my completion date to claim back my monies. 2 problems with this - 1) Builder may be bust by then - 2) This is clearly misinformation, as contract is already breached as mentioned above. I have taken legal advice and only way to get back money would be through the courts, but unlikely we would get it all back even if we won the case and of course we would have to fund the legal action until such time as we won the case.
If you could get back to me about your property switch I would be very grateful.
Martin.
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09 Jul 2008 1:32 PM:
I also put a deposit down on this development in March 07 having been told all the paperwork was in order. It is now July 2008 and the builder has had my deposit for 18 mnths (earning interest no doubt) yet nothing has happened. It was also my understanding from the agent that there was a problem with the paperwork, but they gauranteed the work would start in June 2008. As this was about the fifth start date I had been given, I did not believe this would happen for one minute and surprise suprise nothing has happened. The MD of our agent is scheduling a meeting with Eurohouse (the developer) to progress things, but we are also taking legal advice and considering our options.
More worryingly I have asked the developer for a copy of the bank guarnatee for this site (which they must provide by spanish law) and after two weeks I still have not received anything. One thing is for sure, these will never be ready by Feb 09. If they are ready anytime during 2009 I will be amazed.
Nelly
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