09 Jul 2008 9:55 PM:

We issued instructions to our solicitor several weeks ago now that we wished to cancel our contract to purchase at los Balcones Del Valle, they have so far not even bothered to respond.
I am now extremely worried that the state of the Spanish Housinmg market may dictate whether any of us recieve our deposits back at all.
Developers are going bust at an alarming rate in Spain at the moment.
Recent news in the Uk that the big boys, Bovis, Wimpey etc are shedding thousands of jobs should bring this home to us. The UK market is still relatively unscathed. But....in Spain the market is simply collapsing.

I do not wish to be alarmist, but good luck to all of you trying to recover you hard earned. Just remember, teh developer is not going to simply hand back everybody's cash without a fight.
If he goes bust , well......I don't even want to think about that scenario!

Don't hold your breath.

Community thread: Instant Access property

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04 Jul 2007 9:50 PM:

Just had word back from our solicitor in Spain - (Plus Advisors) in Torrevieja. They stated today, 4th July 2007 that they are not aware of any progress on the construction of the property. So March 2008 is looking very, very unlikely.
They also state that under Spanish law a 6 month extension to the original completion date is normal as this could account for normal delays etc. After this 6 month period the purchaser can claim a refund of payments with a good chance of success.
So, if any of you are wondering about "bailing out" you will have to wait until March/April 2008 when the 6 month over run is over. Then you can pursue through your solicitor.

Have a nice day y'all.

Community thread: UK Company

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