Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › 2 articles in Sur
- This topic has 7 replies, 5 voices, and was last updated 15 years, 8 months ago by Inez.
September 16, 2007 at 5:52 pm #53151katyBlocked
Only just got around to reading the newspaper Sur de málaga
British Forums heat up against the Costa (They seem to have been reading this forum!!)
!00’s of purchasers of illegal properties go to court to cancel their contracts
Will post more later if I have time
September 16, 2007 at 6:00 pm #75079
September 23, 2007 at 3:40 pm #75229katyBlocked
The English version was in http://www.surinenglish.com on Friday. Also a fe comments fromlocal Lawyers.
September 24, 2007 at 6:44 am #75235
good to see this, and well done everyone for highlighting it. I feel we really need these reports in the open, as to those potential customers not directly involved currently, but seriously considering their options, this will be of serious concern. It will also be of big concern to the low-life hoping to screw a few more thousand people, as it reads as a mass concern by people doing their homework, rather than a personal vendetta or just a limited group of unhappy customers.
September 24, 2007 at 5:10 pm #75249
Great to see the report in English
Think this is to say a right mess and could just be the two cases that
may answer which way its going to swing.
The advice I have at the moment is
(1) It has been known for some time that many had a good case on Los
Lagos due to planning issues on the actual build.
Regardless as we all know the case should be won purely on a contract basis that you pay a deposit on the terms that its delivered at a specified time or the contract is broken.
How many of us would have signed if it said? YOU PAY US A DEPOSIT BUT WE CANT TELL YOU WHEN YOU CAN HAVE THE GOODS OR YOU MAY NOT GET WHAT WAS IN THE CONTRACT /MAY NOT GET IT AT ALL BUT WHAT THE HECK.?
(2) The interesting one will be Green Hills as this appears to be just an
occupancy license issue ( not withstanding that at this point of time like many others its classed as not legal by one sector and legal by another as it has full planning, this could just set the precedence for the whole future of the stated 200 developments and thousands of properties.
What chance for the L.F.O issue standing on its own merit ?
(3) Now let’s assume that the developer looses and this will then become the law.
Who is going to pay everyone back their deposits/legal fees and interest?( the market will be in dire turmoil)
(4) Then let’s assume the other option that the developer wins and this
then that becomes law.
Purchasers will probably be given 2 weeks to complete/ May get hit for back dated management fees etc etc.
How many have mortgages in place/how many will be able to get a mortgage? now that credit will be much more difficult to obtain.?
How many will have arranged power of attorney?
It could be seen that it’s a no win situation
Win the case and the developer goes bankrupt It’s a loss.
Loose the case and finances and everything are not in place to
complete and it’s a loss again.
One thing is for sure,cant see many winners here and they need to get
this sorted one way or another as some of these developers will go
belly up before tooo long.
Someone tell me again that there is a legal system in Spain to protect
us all ?
September 24, 2007 at 6:42 pm #75254InezParticipant
Brandy time I think!!
September 24, 2007 at 6:46 pm #75255
Inez. Make mine a treble. 😕
September 24, 2007 at 6:49 pm #75256InezParticipant
Too late – Ive just finifhed the bottle! What a day and still here at work!!!!!!!
Came to Spain for easier life grumble grumble grumble!
- You must be logged in to reply to this topic.