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I am dancing for joy at the moment as we have just got our deposit back from Coto Real Development, Duquesa. We wanted to write this thread as we believe there is a myth bandied about that it is very difficult to get your deposit back – almost impossible the myth seems to say – and the hassle is not worth it.
We were initially very worried about going down the legal route, but having read different threads from Maria de Castro on this forum I decided to contact her. She assured us we were entitled to our deposit back, with interest, and it was really her confidence that persuaded us to go ahead.
Maria says “…… there is no mystery in getting deposits back. It is just a combination of whether the developer has breached the contract and having a good, persistent and INDEPENDENT lawyer.”
I think it has taken about 6 months in total. We could have shortened this period if we had taken earlier offers from the developer, but we believed that we could wait a few months (after all we had already waited 3 years) and were then offered the full deposit plus interest. It was all very painless from our point of view – Maria handled everything and she was always positive that we would get the money back.
So, if this is the route for you don’t be afraid to contact Maria or another independent lawyer and let them do the work for you – it is wonderful to see a good lawyer at work!!
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Congratulations Pat – and well done re. your perseverence.
There are many members here who are involved with many different developments, each of which will have a different legal scenario when it comes to applying for a refund.
It would be of great interest to readers here if you could let us know – in the case of your development – what were your reasons for demanding a refund?
Late delivery? breach of contract for whatever reason? sub-standard work? no legal documents/licences etc. ??
Clarifying this would be most helpful.And of course……….well done to MariadeCastro as well. 😉
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To answer some of your questions- our developer was about 9 months late. Also, a swimming pool that was supposed to be at our apartment block was not there. I was also horrified at all the development all around the area – all the green space was now covered in apartment blocks. Our apartment was supposed to have uninterrupted sea views but we had to stand on tip-toes to see the sea! I was also concerned at the slow rate of progress on the other blocks. This meant that for at least two years we could forsee that the development would be a building site and as such you couldnt rent it out. So, we decided to try and get the deposit back. Everyone advised us against it – saying that the developer had a strong case for being late and we wouldnt have a chance of getting a refund. We found Maria’s name on this forum and decided to take a chance on it. She was so positive all the time.
By the way, The cheque is in our name.
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Many thanks for replying Pat.
Am sure it will give encouragement to many others who I know have identical problems as yours.It just shows monies can be retrieved – as long as you have that good lawyer onside. 😉
Maria de Castro has not only been excellent in your case but takes the trouble to often come on this forum, like Drakan, to give free advice. Certainly she is one of the ‘goodies’.I know many people are “listening” and learning from this forum. And the more of us who fight for what is right (justice when developers do not deliver what is promised), slowly things will change as they will (albeit slowly) realise they can not just build what is good for them, and expect us to pay up quietly and accept what is nothing other than ‘inferior goods’.
When people become more confident in the system and more of us rightfully claim our monies to be returned, a few cases of actually suing for damages will hopefully be their wake-up call.
It’s the developers who need to wake up and smell the coffee, not purchasers. -
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