by Anonymous » Tue May 26, 2009 8:54 pm
I'll answer both questions
Firstly - what legal biding makes you think the developer will pay back 75% of the deposit ?
I enquired from our Solicitor a while back about this option and was informed that at the contract could be cancelled but that Fadesa would with hold 25% of sums already paid. I got confirmation of this from Fadesa who confirmed that at the time that they were allowing contracts to be cancelled and that it was taking up to 6 months to refund. Now - don't shoot the messenger here . Your solicitor can advise on whether this is suitable recourse, gven the changes that have occurred at Fadesa.
Secondly - I don't have a new BG. I exercised the original one when i got the chance. I have been lucky enough to get fully refunded.
Here's the details from the email I got from Manzanares back in October.
As your legal representatives, we arranged an appointment in Morocco directly with the Developer with the aim of clarifying the current situation.
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Further to the mentioned appointment, I would like to provide you with the following information:
1) We asked the Developer for information concerning the beginning of the building works and they confirmed us that they have indeed started. Given this information, we asked for photographs proving this. Please, find attached the photos received with the beginning of the building works.
2) New date for conclusion of the building works: Taking into account that the building works have started recently, we asked for information concerning the new date for conclusion as well as a calendar for the building works. Please, find attached the calendar provided.
Taking into account the confirmation of these two issues, we set a modification in the structure of the purchase consisting on:
1) New date for the payment formerly foreseen for October 31st, 2008, joining this payment to a stage in the construction which in this case is around July 2009 voiding you keep paying without the clear advance of the building works.
2) New bank guarantee: Adjusted to the new payment calendar
3) Annex to the contract where it is stated these two issues, as well as the new date for completion.
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