Spa Valley 1 Spain

C

CLANCY

Guest
Can Anyone Help Or Give Advice On Getting Refund Of Money Deposited Towards Above Property. The Basic Jist Of The Story Is That We Bought A Resale In April 2006 Under The Impression From The Irish Agents That Properety Would Be Ready In June 2006. This Never Materilised And We Are Still Waiting For Compleation, We Have Been Fed Nothing But Lies About The Project And Now Have No Longer Any Trust In What We Are Been Told. We Want To Get Our Deposit Back But Stand To Lose The Extra Money We Paid The Previous Sellers. Is There Any Way We Can Claim This Money Off The Irish Agents Due To The Total Lack Of Trust And Deception, We Have Quite A Few E-mails Going Back To June 2006 From Them Stateing That Properety Would Be Ready In One Month And That Everything Was Rosey In The Garden. If Anyone Has Any Help Or Ideas, It Would Be Much Appreciated.
 
Hi.

We Paid 20,000 To The Seller Through The Irish Agent. This Was There Profit On The Apartment, We Just Took Over There Contract. We Had No Direct Dealings With The Sellers. It Was Done Directly With The Irish Agent Who Took 6% Of The 20,000, Before They Paid The Seller.
 
Getting ito "flipping" like this is a high risk occupation except in a steadily rising market, so you actually spent 20k on a concept rather than on a property. You bet on a rise that didn't happen, so you can forget that 20k and just deal with the rest of the transaction as it progresses.

I don't know that particular development, but delays are not uncommon in any busy market, with difficulties in getting subcontractors etc., and I wouldn't panic about delays unless there are other underlying issues of concern.
 
Just To Clarify Our Position. We Bought This Resale Fully Committed To Compleating Purchase. We Were In For The Long Haul, Just Going To Use Property For Rental Purposes. The Problem We Have Is That We Were Given Three Different Finish Dates By Irish Agent And None Materilised. Having Gone Over To View Property In February, We Realised That All Of Info That We Had Been Given For The Last Ten Months Was False, So We Could See No Point In Continueing With Purchase As The Developer Seemed Very Backward And We Could Not See Them Running The Rental And Management Of The Complex Which They Were Going To Do Thenselves. The Main Point Of All This Is That We Feel We Have Been Duped Into Buying Something That Was Not What Was Stated At Time Of Purchase.
Its Trying To Find Out If We Would Have A Case Against The Irish Agent, For Giving False Information, And Basically Lieing For The Last Ten Months. Its Like Buying A Car , If You Are Told It Has 20,000 Miles And Later Find Out It Has Been Clocked And Really Has 100,000 Miles, You Would Be Entitled To Some From Of Redress. Is There Some Authority Out There That Deals With Irish Property Agents ?, So People Can Get Some Kind Of Redress Or Is It An Road For Them To Do And Say What They Like.


Any Info On This Problem Would Be More Than Welcome,
 
No redress really, you didn't spend the 20k on a property, just on asking someone to step off it. If the finished property is worth completing, you might consider completing; otherwise put it down to experience and in future don't buy what are effectively just options.

For every winner, there is often a loser somewhere. The original buyer made a handy 20k on a project that in your view never took off, at your expense, but that's how business is sometimes. At the time, you thought that he was the loser and you were the winner, but it turned out to be a bad deal for you in your current frame of mind.

However if the development appealed to you originally, and the issue is just one of completion dates, then you don't have a gripe really. You will still get your property; you just have de facto been given a lot longer to pay for it if you look on the positive side!
 

Clancy, I hope you don't mind, but would you mind not capitalising the first letter of every word, it's difficult to read. Thanks.
 
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