28 Apr 2011 11:24 AM:
I have recently spoken to an independent lawyer re. my deposit on an apartment in Sea and Sun Hills, Estepona. His advice was to hook up with other owners and put pressure on the developer to grant significant price reductions to encourage completions. He rates our chances of refunded deposits as nill - even if a court case achieves a successful outcome, the developers have no money and would simply declare bankruptcy, putting property owners well down the list of creditors.
He also advised against court action against lawyers for negligence etc. as this could get tied up in the legal system for years.
He strongly advised against signing any new documentation with the developer (as has been requested in my case) as this could force immediate completions.
His best advice was to wait it out - hope for a better exchange rate or a bigger price reduction and then go to completion - at least then you will have something to show for your original investment.
Meanwhile who is responsible for the upkeep of the development - does anyone know?
Pippa
Community thread:
Sea & Sun Hills
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