20 Sep 2006 7:58 PM:

Thanks Rebekeh for your message, I wish there were more people like you.
I have emailed my lawyer this evening to confirm a couple of points and I will endeavour to let you know.
Barry thanks too for liasing with us.
If there is anyone else in the same position please contact us.
Regards Alexandra

Community thread: Spanish Mortgages - high set up costs?

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19 Sep 2006 10:31 PM:


Hi Rebekeh,

Today my lawyer came back with the following:

Just today the developer’s lawyer has answered stating that they managed to refinance the debt which the company had and the works has been took up again (for example with the air conditioning’s company in order to finalize the installations).

They expect that the apartments will be completed before next summer.

This is very frustrating info as its the first I hear about any sort of debt they may have. I am not sure who is telling the truth anymore. I do believe that all those involved in this nightmare should form some sort of Buyers committee where we can all get together and agree to what steps to take. I am thinking that once this is all over (wishful thinking) that we can all pursue some sort of compensation. The more people involved the better. This has been done before, as seen on TV. I am convinced this needs to be reported to either the press or other media organisation. But lets take one step at a time.

Community thread: Spanish Mortgages - high set up costs?

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18 Sep 2006 3:36 PM:

Hi Rebekeh, I seemed to have opened a new thread when I replied to your message. You will find my response and someone called Barry's on the thread called aloha. Thanks. Alex

Community thread: Where do we start!

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18 Sep 2006 1:59 PM:

Yes I too haven't heard from my lawyer about the licence, but I have quickly sent an email to find out. Will keep you posted. Its great to be able to communicate with Aloha purchasers such as yourselves. Its certainly been a nightmare situation.

Community thread: Spanish Mortgages - high set up costs?

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18 Sep 2006 12:00 AM:

Hello Rebekeh and everyone else. I am new to this forum and my name is Alex. I too have been struggling with my apartment in Aloha since I bought it in 2002. The information given to me by my lawyer (sometimes not very clear in their translations) since June is the following:

-the Town Hall has requested some new urban documentation to allow the completion of the building and subsequently granting the awaited first occupation licence.

-some purchasers who initially wanted to cancell the Private Purchase Contract have preferred to wait, given that accordingly to the promoter the apartments should be delivered during the first six months of 2007.

-the promoter´s position is not to proceed with the cancellations of the Private Purchase Contracts already signed or the refund of the funds already paid to the developer for the property, since finally they estimate to deliver the properties during the next year. They have clarified us that they can not continue with the refund of funds since the promoter needs this money to be able to complete the works in the development.

The above info was given to me during the months of JUne, July and August. There is no update.

Rebekeh are you sure the licence has been granted then? In that case, that sounds quite positive.

Regards Alex

Community thread: Spanish Mortgages - high set up costs?

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