Hi I’m in the same situation.
Paid 6000 euros initial deposit, then 130,000 euros as 30% payment for an off-plan apartment back in Summer 2003.
Completion supposed to be now, (contract expires 31st Oct).
The building has never been built and never will be (on admission of developer!).
Because my Bank Guarantee enforcement date states September 2006 (why didn’t my lawyer question this at the time????) the developer says I can’t have my money returned now, I have to wait until next September 2006!
Sitting on my money for a total of more than 3 years.
I don’t understand why this is not a police matter.
If I ordered a special (say pink colour) car from a manufacturer, paid a deposit, told it would take two years to make which I accepted. Then after 2 years they said ‘sorry, it’s impossible to make you this car after all’ and I then asked for my deposit back and they refused and said ‘we’re going to hold onto your money for another year’, surely I would be able to go to the police for fraudulently keeping my money.
WHY ISN’T IT THE SAME FOR THESE DEVELOPERS???