January 14, 2008 at 12:35 pm #53566
Has anyone completed on the sale of their property e.g Los Lagos etc.. or had any success getting their deposit back yet?
January 14, 2008 at 1:12 pm #77233
Re. Los Lagos, a case was won and judgement given for return of monies in September.
I don’t know if an appeal was made by the developers but expect so:
January 14, 2008 at 1:17 pm #77236
The Million Dollar Question Ann (think we know eachother?).
It seems that however ‘great’ your lawyer is, & whatever previous Rulings have been passed, our individual cases ultimately rest in the hands of the presiding Judge. However, at Santa Maria Village there is a Court Directive to say that the LFO has been granted (but NOT issued) & some lawyers are passing this info to new clients who decide not to start court proceedings. Another connundrum!
Despite some receiving their money back at Greenhills, today I have heard from someone who has just lost their case there. They are totally shocked with the Ruling, as there is no LFO in place, while at the same time many homes in Vera are at serious risk of being demolished as they are ‘illegal’. What an abbysmal mess.
January 14, 2008 at 1:54 pm #77238
Thanks for that Charlie & Suzanne
Need a bit of advice!
Complete or take legal action apart from the obvious answer has anyone any sound advice??
Have been advised by present Lawyer to complete or face loosing deposit as the property ( a resale) is been sold to another company within the group that we bought from.
January 14, 2008 at 2:22 pm #77239
If you would like me to, I’ll go through the submissions to SPSP from purchasers at Los Lagos, & see if any will contact you. I’m sure they’d be only too pleased to do this. If you can speak to others in a similar situation at this development, maybe this will help you make the decision that only you can make. Let me know.
January 14, 2008 at 3:41 pm #77242
Thank you very much Suzanne I would very much appreciate that if you dont mind.
January 14, 2008 at 3:47 pm #77243
Hi Anne 🙂
Obtained this up date today from the horses mouth so to speak and the financial situation of the developer is also dire.
Decided to complete myself as it was a case of the worse of two options and didnt want to risk loosing the deposit and risk not being able to get a mortgage.
The long term rental dosnt seem an option either so it going to be very difficult as to what decision each makes.
Cant see any winners unless you take a long term view or loose the deposit.
REPLY TO MY QUESTIONS REGARDING THESE DEVELOPMENTS
Lots of bad press over here as well.
The people who have not completed will or have been told they have to as the court as gone in favour of the developer. If they do not complete they will be charged 6% late payment penalty.
The Judge in Malaga has decided they are obliged to complete as the town hall has not denied the first occupancy license and so by default after three months the license is deemed to be granted, he also said the delay of the construction was acceptable because of the strike in the quarries and the construction industry. Obviously this is ridiculous as the strike was only for 1 month in total, how can that justify a year’s delay in the construction?
The only people I know that have had their money back from Green Hills are those that purchased in the second phase that never went ahead, and even then not all of the buyers have got their money back yet and probably wont.
At the moment the biggest problem for buyers is obtaining a mortgage. Most Spanish banks have over lent to such an extended they have no money left. No one is investing in the banks so they simply have no money plus they are involved quite extensively with the American banks, big ouch and opps!
I haven’t seen any increase in property prices in any region; I guess it may seem Benalmadena has increased as it was considerably lower than Marbella and Fuengirola to start with.
There are going to be house demolished here, but they are houses that never had a building license let alone one that isn’t recognised by the county council.
January 14, 2008 at 4:20 pm #77247
Seems all is O.K at La Reserva.
Check this link out as we are goin to make a fortune 😕
January 14, 2008 at 4:35 pm #77250
That is scandalous! Should not be allowed surely they can be denounced!
I have seen a huge billboard up saying guaranteed rentals and bank guarantees with them!
So as you are all wanting one, I have a south facing one just back on at 195k!!!!
January 14, 2008 at 4:50 pm #77251
January 14, 2008 at 5:37 pm #77253
O.K.O.K So if we put ours up for 569,000 euros you think we may have to accept an offer then. 😕
January 15, 2008 at 3:11 pm #77295
just an opinion, we decided not to complete, and as time goes on we are now very pleased with our decision not to hand over another euro to the low life we have been fighting for years. Yes, we might lose our deposit, but the situation regards selling, is that we would currently have lost a similar amount of money had we completed, due to the reduction in value and the various overheads/ mortgage costs, keeping it going, renting, furnishings etc, let alone the stress of community problems maintenance, bad publicity etc.
Our first court case is in May. Our case (as some on here know) is as black and white as it could be, but still that does not mean we will win, such is the lack of confidence many of us have in some of the judges!, not through being a ‘doom and gloom’ merchant, but past fact. Suzanne will confirm that if you need more proof!
In the long term,……. who really knows?, but for now we are very happy to be not involved with Spanish property, apart from getting long overdue justice.
January 16, 2008 at 2:14 pm #77350
This is exactly how we are thinking, just don’t want to throw good money after bad. Have changed Lawyer at last so lets see what happens. The thing is you’re damned if you do and you’re damned if you don’t ……..
Thanks everyone for sharing you’re thoughts I will keep you informed !
January 16, 2008 at 4:06 pm #77360
Anne Kane 🙂
Yep and if we all had a real strong case against a developer then I to may have dug in.
I would also have dug in if I had paid well over the top for a load of rubbish.
My advice was we didnt have any of these and complete or in the end loose your deposit and to me that was alot of money.
The bottom line is that if you feel that that the value has dropped below the bottom line and you feel there will not be a rebound some where down the road then walk or fight.
Like you say damn if you do,damn if you dont.
If only we had a crystal ball. 🙂
January 16, 2008 at 4:11 pm #77362
for the sake of my own sanity,(and hopefully to help others), if i had to go down, it would be fighting tooth and nail. I wont rest until i have given it my best shot and explored every avenue to get justice. We are in the right, why on earth should these low-life get away with their bullshit and lies?.
Be good to hear how you get on.
January 17, 2008 at 8:00 pm #77400
Yes I agree I will fight tooth and nail also, I will keep you posted on any progress.
January 17, 2008 at 10:02 pm #77406
Good luck and please let us know how you get on.
On one note I have heard that on this particular development a few do have a strong case and is something to do with the size of the apartments are not as the contract
This is hear say but it came from a very good source so get the tape measure out 🙂
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