18 Dec 2008 3:58 PM:

Hi everyone

It is really encouraging to see the result of pooling our knowledge on this and there is strength in our growing numbers, thanks to all of you who have posted. :-)

The web is great and is how I found this site in the first place by searching Fortuna Golf etc.     However, I share the concerns which one or two have raised about security.  As this is a public available forum, which anybody can sign up to if they want - we do not know who is reading our postings.

I have had a reply from a respected Spanish lawyer who I have just contacted and want to share this with you, particularly as it looks that they might be cheaper than Plus Advisors - even more so as they offer reductions depending on numbers involved.     What is the best way to move this forward, do you think we should try and establish an off-line means of communicating.?    If we are trying to meet up we might have to share more info than we would want to on a public forum - is there any use trying to make use of the private message facility to share, say tel.no.s?

Regards,
Suzie

 

 

Community thread: Anyone else bought an of plan property at FortunaHill Golf and waiting on completion ?

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17 Dec 2008 12:37 AM:

Hi everyone

Further to the messages below and also to the spate of emails from IA Global and Plus Advisors (who are now apparently inundated with emails from all of us - but what did they expect with the mailings they have recently sent out!). We are slightly concerned at the fact that in one breath IA Global are saying that there are issues with San Antonio and that we need to get legal advice about our deposits etc., but then they start talking about "flipping our deposits" rather than taking the legal route.  If we can't get our money out of San Antonio because of their financial difficulties, how is it going to be easier to get the money out to lodge as a deposit for another development?    Is this really in our best interests, or are IA Global interested in the possible new commissions they could make if this was a possibility, having already presumably taken commission for our purchase in Fortuna Hill in 2006.

The other matter which concerns us is the email we received yesterday from Plus Advisors, clearly a circular letter, saying much the same thing at IA Global and also mentioning about the idea of "flipping the deposit".  We are not experts in Spanish law, but are already very concerned that in our case Plus Advisors exchanged contracts on our purchase without ensuring the Bank Guarantee was in place (though IA assured us this was already in place and made it a key selling feature - is this true for anybody else?).  If this happened in the UK we could sue the Solicitor.  Now they seem to be supporting I A Global by talking about the same things as I A Global does.  Is this what they should be doing?  Surely they should wait until asked by us as their clients about what "flipping a deposit" means and its practicalities and give their advice at this point.   They seem to be too much co-ordinated action with I A Global for our comfort.  It is not coincidence that all these emails have gone out at the same time.  Hindsight is a useful thing, but we wish we had perhaps used a firm of Spanish solicitors who were independent of the developer and Instant Access.  It all seems rather too cosy to us.  These are our thoughts at the moment and we are trying to get more advice to help decide what to do for the best, including what our chances of a successful legal action are and whether the charges being suggested for a joint action are reasonable. 

Kind regards, Suzie

 

Community thread: Anyone else bought an of plan property at FortunaHill Golf and waiting on completion ?

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11 Dec 2008 11:23 AM:

Hi everyone

Thanks for your messages which are v helpful.  Firstly, have uploaded photos we took in July when we visited the site - hope you find them useful.  They are all taken from the show homes, and clearly show the lack of progress, since the show homes are built on the exact spot where all the main facilities, club house, shops etc are going to be.  As I said, the only finished things is the entrance road (see photo).  The show homes are of good quality, but will be demolished!  It is likely that the full development will never be completed, and that the golf course may only be 9 holes.  It  will need a lot of watering as the land is particularly dry and arid. 

Having had time to think a bit more - I am not particularly happy at the thought of using PWC to front a claim.  They are not a specialised legal firm but a consultancy (and their fees will not be cheap), and I would like a lot more information as to the benefits of using them instead of an experienced Spanish legal firm, before agreeing to do so.  Also, if this is to be aclass/group claim, why is the price fixed at 5,000 Euros each claim in two payments, surely the more people joining, not only the more chance of success but also the savings in cost terms?  I think what I am saying is that I would like a breakdown of these costs, which could be open-ended, as it is likely that even if a case was won, it would go to appeal with even more costs.  Also, I would like to have an understanding of the whole process, and our chances in cold realilty, of winning and actually getting some or all of our deposits back.  Reading postings from others on this and other sites, it looks like it is a lottery.  Much will depend also on what financial state the developer is in - no good winning if they are bankrupt.

Hindsight is a powerful thing, and I know that we (that is me and my husband) should have been more hands on at the early stages of the process, but unfortunately put too much trust in what IA had told us.  However, we were never sent a copy of the Contract by PlusAdvisors before they signed it on our behalf, and they then did not send a copy on to us for a further seven months - not very efficient at the minimum.  Are they the right company to be fighting on our behalf?  I am going to seek the advice and get any idea of costs/success chances from some other legal companies who contribute to the Spanish forums and seem to have some good recommendations.  Will report back once I have more info. I think that armed with more information we can make better, informed decisions.

Regards, Suzie

Community thread: Anyone else bought an of plan property at FortunaHill Golf and waiting on completion ?

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08 Dec 2008 3:40 PM:

Hi everyone

Have just discovered this forum about Fortuna Golf.  We went out to visit the site in June this year and were concerned at the lack of progress not only in the building of the properties, but also the golf course and infrastructure.  There is a nice entrance road with some smart lights but that is all as far as the infrastructure is concerned - though we did love Murcia - a beautiful part of Spain.    We have also now been told that our completion date has been put back from Feb 08 (in our contract) to most likely the end of 2009.  We are now past the six months additional time allowed for in the contract and are speaking as Mark A is to Plus Advisors about suing for breach of contract.  The bad news is that the Developers did not ever deliver an insurance policy guarantee for the deposit money as they promised on many occasions to do (and despite many requests and despite Instant Access telling us it was in place).   What I don't understand is why Plus Advisors did not refuse to sign the contracts until these Guarantees were in place.  Apparently this is against Spanish law so should count in our favour, so we have been told.     We have also read that the most important thing to do is to ask the court to freeze the developer's assets at the level of the claim so they cannot dispose of anything (this can be done long before the case comes to court).  Thanks Mark A for your summary of the process to seek our deposits back from the developer.  It is nice to know that we are not the only ones.

We are now waiting to hear back from Plus Advisors about the Power of Attorney.   Will keep an eye on all the postings and will update you if we have anything new.

We heard from European Mediation today too - wonder how they got our names!!

Best regards, Suzie

Community thread: Anyone else bought an of plan property at FortunaHill Golf and waiting on completion ?

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