27 Oct 2008 6:16 PM:
I see your point, and if I had put money down on multiple units I may very well feel the same, so it is probably down to how much money is an acceptable loss against the aggro involved in trying to claim it back. I have a feeling that, the agents will probably claim that they have also been duped. You know and I know that this is very wrong, however, they will undoubtedly point out that the developers accessed the funds without them knowing etc. As with any of these situations, it comes down to how much money you can and will throw at legal representatiion without knowing if it will be successful, Im sure that there will be plenty of lawyers out there willing to take your money without any guarantee of success. I would feel happier pursuing it through the english courts, but I believe this will be a spanish legal issue, and I have no faith in their system at all.
Community thread: Planning permit
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27 Oct 2008 5:28 PM:
Hi Rob,
Yes, Im writing it off, I have no intention of putting myself through the trauma,anguish and expense involved in attempting to pursue it and the very likely outcome that there is no way of getting anyone to pay the money back. I have no faith in this latest bunch who have taken control of the development, nor the agents like Foxtons who sold it to me. In the current climate, they will be lucky to get any funding or indeed take any deposits on new units at the prices they are charging. I am quite angry, that we have all been duped, having thought that our reservation fees were ring fenced and that the developers could not touch them only to, now be told that the other 2 partners did not know that Llanera had access to the funds, and these same 2 partners are now asking for our trust with the future of the development, It really does take the p*ss! I hate to walk away without a fight, but deep down I know that it would be a pointless exercise and waste of time and energy. Sometimes it's just best to take it on the chin and think how bad it could have been. There are so many people out there, who have lost huge sums of money on developments that are either not finished or are not now worth what they paid for them 3-4 years ago, we have to think ourselves lucky! Good luck in what ever you do, but my advice would be to just walk away and forget about the two grand.
Community thread: Planning permit
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27 Oct 2008 4:26 PM:
You guys, who are hanging in for this development must either be very stupid or crazy or both! This has been my first foray into the off-pan development market abroad, and under the circumstances am relieved to have come away with losing just £2000, it could have been and will be if you stay with it very much worse. I never realised how risky such things are, with supposedly reputable agents fronting the development, and then when things go wrong, no one taking any responsibility! Once bitten twice shy as they say. The development as it stands in the current climate does not stand up and wont do for at least 10 years, my advice get out now, don't put any more of your hard earned cash into it. If you are looking for a lifestyle buy, go out and get yourself a finished and furnished property at a bargain price, there are tons of them out there, or if after an investment look at other countries. Good luck to all.
Community thread: Planning permit
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16 Oct 2007 2:56 PM:
I, like you bought through Foxtons, and it does not surprise me that they are not helpful, being as they stopped marketing the development a couple of months before the financial problems came to light, coincidence! Surely if the money is there, as Sunworld say it is, then it is legally yours and should be returned to you, should you want it back. I think, your best bet is to try and pursue it through Sunworld, even though they were not the agents you bought through, they seem to be the agents who are fronting the developers. As I said earlier, it is discraceful behaviour if you are just being ignored by that company, and if it is that difficult to get your money back, then something is obviously not right. Personally, I am leaving my money there until, something definitive is announced on the planning etc. As long as that comes through, it will be built, as there is too much money to be made by too many people, for it not to happen.
Community thread: Financial crisis in personal terms
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16 Oct 2007 11:15 AM:
Hi Eryl,
When you say that you have drawn a blank, what explanantion has Sun World given you for not returning it? as surely the fee is in an independent account that no one has access to as yet. Are Sun World just washing their hands of it and passing it onto Llanera, as their problem? Are Sun World flatly refusing to deal with it. Which ever is the case, it doesn't sound too good on Sunworld or whoever the developer is, if you are having a problem getting back a pawltry £2000.
Community thread: Financial crisis in personal terms
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