06 Dec 2018 1:37 PM:

Hi Collette,

we are trying to retrieve our deposit also.Lawbirds are affliated with the orginal  law firm which acted on our behalf initally way  back. We had to pay for court proceedings in MAY 2017 and have been told the route we were advised to take has been stopped by the courts so we are now re aplying to take another route.

We are sitting on the wall with  this really dont know what way it could go .If we had taken action before 2015 i feel we would have a better chance .

How about you ? How did you get on ?

Community thread: Deposits returned

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30 Jun 2010 2:38 PM:

 hi everyone,

Bank guarantees are set up to provide purchasers with protection against the developer going into fianacial difficulties and defaulting on the building of the premises.They  do not guarantee a return of your deposit it the developer doesnt complete on time as per contract. As our developer did  complete all be it 7 months late costing us all  poor exchange rates and   no means of getting a mortgage!  the Spanish courts will see it as the  contract being honoured.

Originally in 2009 before Sept we were led to believe we would automatically get a refund once the contract date expired,this is not  the case,i think we were misinformed and misled. We then thought if we walked away from the deposit and the property  that would suffice, but no the developer   is pressing us to complete on a devalued property and I feel he is being unrealistic  as the bank value today for morgage is considerablly  less. We are not in a position to raise a mortagage and so are doing nothing . We can only wait and see. I think  everyone should press for a reassessment of the property value from the developer and the more of us that do maybe they will get the message.Surely its better for all? We are off to Spain for JUly and will take a look to see if there is any life at the complex and report back.

Regards

Mallard

Community thread: deposit bk

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04 May 2010 10:11 AM:

 Hi,

Just returned from a much delayed but enjoyable  visit from Spain. We visited  Lawyers of Spain and the outcome seems th at we will eventually be forced to complete. Has anyone else been advised differently or have any comments on the situation? Visited the development and as usual it was like a ghost town!

Regards

Mallard

Community thread: deposit bk

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13 Oct 2009 4:17 PM:

Hi Collete, Wish I had some news but I don't.Im not able to assess how many there are of us who havent completed,against those who have, but my guess would be that anyone trading in sterling probably wont or couldnt.It may be that the Russians and Scandinavians who are in a better position may have. We drove around the complex in late July and it was desserted! Idont expect to get anything back not for a long time,also I have the feeling that its not over between the developer and depositors yet. IF anyone has any news or hears of any developments please post a reply! Regards Mallard

Community thread: deposit bk

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26 May 2009 4:01 PM:

 Hi Pater40

We too are being represented by Lawyers of Spain,with whom we are in regular contact.I feel it is a wait and see what happens regarding the number of people completing against the number of apts left unsold and  how the effects the development and the owners bank credit. Prices will fall  after completion with the original depositors. Internationally it is proving very difficult  to raise mortgages etc and this will impact on the market greatly.If the developer sells our apt at discount we then can claim some monies  paid  from our deposit though we realise that no matter what we are unlikely to see much. If it falls into the hands of adminstrators we have been advised that the scenairio should be similar.We shall have to wait and see....

Regards Mallard

 

 

 

 

Community thread: deposit bk

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