16 Nov 2009 10:10 AM:
Hello to everyone on this informative blog on the Corvera development.
Myself and my wife purchased a Magnolia villa which was meant to be a Phase 2 or Phase 3 development. Not too sure which now as its been soooo long since we sent the deposits monies across.
My plea is for someone to explain to me the options/ramifications I have with this development. Firstly, let me say I really like the site and how it will eventually be (I hope!) but we are talking of a lot of money and informed options would be nice.
My understanding is this. The building license has not been granted or even applied for so the 18 month clause is not effective until this becomes active.
The building of the villa was meant to be started and indeed finished by May of this year, which of course has not happened.
My impression is that not only Corvera have not applied for the building permissions, I believe they are not likely to for the foreseeable future.
My questions would be these
- Since the guarantee scheme has now expired, my circumstances over this development are now less secure so I can either try and reclaim the deposit monies or sit tight and wait.
- If I tried to claim the monies back, what is the consensus of opinion of the likely hood of success? Bear in mind that they have not fulfill their part of the deal which gave estimated time lines for starting and completion of the villa. In my opinion Corvera have no intention to start any time soon and by this I mean many years. By deliberately not asking for permissions they are hoping that any claim for deposit monies to be refunded will not be upheld.
- Are their any legal beagles out there who can offer a considered opinion over this?
I must confess that the situation we (and many of you) find ourselves in is intolerable, the fear of not knowing can be quite crippling and to be honest I am not too confident in the Spanish legal system, mainly because of the bad press we are fed in the UK by horror stories.
It does stike me as unfair that a builder can hold my monies with no definative start time to the building project and because of this I think trying to obtain a refund of my monies is the most logical next step.
Does anyone know of any no win no fee type arrangements out there for casessuch as these?
Any help would be appreciated
Steve and Claire
Community thread:
Phase 3 Completion?
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