10 Jul 2007 11:12 AM:

Hi,

 

For the moment I would not panic. We must weigh up all our options before acting. If the media get hold of this, it is sure that we would never be able to resell in order to pull out. I think we should find out how much Cajasure are offering, if they are offering any compensation and then each one must decide individually what to do or whether to possibly launch a joint legal action against them.

As far as the market in Spain is concerned, I have heard that it has been "adjusted", but it is certainly still a long way from crashing!! So again, no reason to panic.

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10 Jul 2007 10:03 AM:

I e-mailed my lawyer today asking for more details if I cancel. I also asked about compensation as this mess is Cajasur's fault - they bought out the old builder without having foreseen a new company to replace them.

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09 Jul 2007 12:00 AM:

Hi,

 

I've bought an apartment in the Phase 1. I've just been informed by my lawyer that Arenal are still waiting for the licence of first occupation. The technical inspection still has not been made due to the fact that the road has not been completed. Arenal have no idea when this will be done. Therefore the promoter offers to cancel the contract and refund amonts paid up to date.

 

I, however, have conflicting information that the technical inspection has been made. I've also read there is a problem with a burst water pipe. I would be grateful to receive any other information. Has anyone else received similar news from their lawyer (I don't trust mine!).

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