24 Dec 2006 12:00 AM:

Does anyone know when this development is likly to be completed?
Community thread: EasyJet info

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08 Nov 2006 11:54 AM:

Hi Sarah,

We have issued procedings through our Spanish lawyers,Martinez Echiveria. My husband is a litigation lawyer in the UK and has discussed the grounds we are using, ie breach of contract, failure to complete the works within specified timeframes. Whether it will work, who knows! But my advice from letting agents in the area is that it will not be suitable for holiday lets for some time and the rental from long-term letting will not cover our costs. The problem with litigation is, of course, you must pay part of the fees upfront so there is a rsk. But for us this will be less costly than proceeding under these cicumstances.

If we can help at all get in touch.

Louise

Community thread: VIP Cartagena

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13 Oct 2006 10:59 AM:

Dronk, thanks for your reply.

Our lawyers are Martinez-Echevarria and they seem to be confident of claiming 100% plus interest. This may be hot air! As I said our agents Golden Coast have vanished so we are on our own. You sound like you want to back out. Do you feel this is the way to go? Iam undecided. I still think it looks a great long-term investment once it is all bedded in. But it is really interesting listening to all your views.

Louise

Community thread: VIP Cartagena

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12 Oct 2006 12:00 AM:

Hi everyone.

I have just discovered this messageboard! Until now we have been completely in the dark. We bought on 1st floor Khios in Spring 2003. Our agent, Golden Coast have vanished! We tracked down our original contact who has had it on the market since Christmas through his own agency but with no interest. Now we hear it has a license and I have contacted a letting agent about rental. He says it will not let for holidays for a long time due to ongoing works so recommends long-term rental. He feels we should keep it for 5 years before realistically trying to sell.We will need to cover a mortgage from the income. Does anyone have a view on this.

Also, our lawyer has many investors trying to back out through the guarantee or for breach of contact. They will add us to a class action (where a number of their clients jointly sue) but we need to pay at least 5,000euros up front.

I half feel we should keep it. It looks good from the photos and I think it will be a great long term investment. But it seems like we could get out too. I have read all the past messages with interest and see that there are mixed views. What do others feel. We have never done anything like this before.

What happened to the debate about whether the whole phase should be completed before we should be required to complete? They seemed to have got the license anyway.

Can I say it is great to find some real people out there who aregoing through the same as us!!

Community thread: VIP Cartagena

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