buying off-plan abroad - cancel contract

Kez100

dsypml wrote: »

Somehow I doubt it was all that hard-earned or you'd have learned a better lesson from her than to fail to provide yourself with a pension and to bet the farm on something you know nothing about. Did she "earn" that money by buying a house dirt cheap in the 70's, having the mortgage inflated away in a few short years and dieing at the top of a house price bubble? That would explain your use of her wealth.

Made you feel better that, did it?

Before you post, positive or negative - look inside and ask yourself : Are you adding anything worthwhile?

dsypml

Kez100 wrote: »

Made you feel better that, did it?

Before you post, positive or negative - look inside and ask yourself : Are you adding anything worthwhile?

If the OP doesn't understand what it is to earn money and provide for their own future then they might struggle to learn lessons from this episode. We know they didn't do the latter, I was wondering about the former. I was just asking a question so we'll have to wait for the answer to see if it was worthwile, but I hope your post made you feel better in the mean time.

Look inside what?

Super_Ted_2

mpsavuk wrote: »

The posters on those forums are nowhere near clever enough to make up a story like this. They are all in theTin foil hat brigade. You know the type:

"Doomed, we're all doomed"

:rotfl:

Most of the posters on either of those forums are actually pretty clued up.
They might have called the market turn early but they are 100% correct on the macro economics and finance industry crisis behind the current housing crash and the coming recession.
.
Now you might know all this or you might believe:
1) The housing downturn was caused by the subprime crisis in the USA.
2) There is a shortage of housing supply in the UK.
3) House prices only ever go up.
4) The worst is over
5) Gordon Brown has it all under control.
.
In which case god help you.
.
Doomed is a strong word but treat yourself to a little economic education and you will discover the next 5-10 years wont be pretty. Start by googling "credit contraction" and punch in the mouth anyone that talks to you like a baby about the "credit crunch".
.
To the OP if you are not sure you were in a pyramid scheme, ask yourself this: what value did you expect to add by holding the properties until they were built? What additional value were you creating that would lead to an increased price on the property?
.
Nearly all property "investing" is a pyramid scam, it requires that the people following you are prepared to pay greater and greater prices for an asset of the same utility value. During credit expansion (google that too) this is easy as people (like you) continue to buy in normaly with borrowed (credit) money in the expectaion of further rising prices.
.
At some point though the music always stops. Someone ALWAYS gets left holding an un-saleable un-affordable asset. On this round of the game one of those people was you.
.
ST

Super_Ted_2

mpsavuk wrote: »

The posters on those forums are nowhere near clever enough to make up a story like this. They are all in theTin foil hat brigade. You know the type:

"Doomed, we're all doomed"

:rotfl:

Most of the posters on either of those forums are actually pretty clued up.
They might have called the market turn early but they are 100% correct on the macro economics and finance industry crisis behind the current housing crash and the coming recession.
.
Now you might know all this or you might believe:
1) The housing downturn was caused by the subprime crisis in the USA.
2) There is a shortage of housing supply in the UK.
3) House prices only ever go up.
4) The worst is over
5) Gordon Brown has it all under control.
.
In which case god help you.
.
Doomed is a strong word but treat yourself to a little economic education and you will discover the next 5-10 years wont be pretty. Start by googling "credit contraction" and punch in the mouth anyone that talks to you like a baby about the "credit crunch".
.
To the OP if you are not sure you were in a pyramid scheme, ask yourself this: what value did you expect to add by holding the properties until they were built? What additional value were you creating that would lead to an increased price on the property?
.
Nearly all property "investing" is a pyramid scam, it requires that the people following you are prepared to pay greater and greater prices for an asset of the same utility value. During credit expansion (google that too) this is easy as people (like you) continue to buy in normaly with borrowed (credit) money in the expectaion of further rising prices.
.
At some point though the music always stops. Someone ALWAYS gets left holding an un-saleable un-affordable asset. On this round of the game one of those people was you.
.
ST

tbs624

Avicola - have sent you a PM.

Trollfever

OP.
If you can move them out of the hell hole that is Tenerife to Fuerteventura, I will buy them off you.

avicola

tbs624 wrote: »

Avicola - have sent you a PM.

Thanks for that.

Tomorrow we will ask the solicitor what percentage chance he thinks we might have.

The other thing he said that could be hopeful is that once we get our claim in, the developer is not allowed to sell ANY apartments until it is resolved.

Of course, he might just find that nothing more than an irritation which he can over-ride.

We'll see.

avicola

clutton wrote: »

i think you should put up a post on www.singingpig.co.uk and name this company - you will see on their property - overseas section several companies whose activities have been as appalling as your EAs - you will learn a lot from singingpig and may find other victims come forward and that a class action may be possible

bw

That is an excellent idea. It is exactly the sort of thing I was hoping somebody could throw in.

Very many thanks.

markelock

You need to press the solicitor hard. 3500 EUROS is a lot of money without something upfront from them (preferably in writing) maintaining how confident they are of getting a result (and not just getting a large stack of your cash. Admittedly, you may have omitted bits from your conversations (how plausible, confident, knowledgeable they seem), but they need to justify their fees/charges, and explain exactly what they will be doing for them (this should still be mandated by the Law Society?) Also, check whether any adverse publicity affects your claim? May not be relevant, but just in case.

avicola

Went to the solicitor again yesterday. Didn't read your post though Markelock, till we got back.

We do have confidence in him as far as we can in anyone right now. He has been a solicitor for 30 years, (his father was also one) and has experience of very similar cases. His office is buzzing with various staff who dash off to deal with his instructions. He has got the names, phone numbers and relevant information he needs at hand to deal with our case. There are people waiting to see him, the phone is ringing, so a general air of activity. He appears to be dynamic, still with a great thirst for business.

When pressed for the likely degree of success, he said he wouldn’t have taken it on if he didn’t think he was going to win it. (Though we know that he wins either way.) He knows that basically all our hopes are with him and, let’s fact it, he stands to gain an awful lot if he wins for us.

Time wise, we may know at any stage after 3 days. And if it was him, he would give us the deposit money straight back just so that they could get on selling them.

But there might be a need to negotiate what percentage we would get back is what he says. And we realise that nothing is a foregone conclusion that we would get anything back.

And of course the developers might have gone bust and then we probably wouldn’t get anything anyway. That might explain why they have only given us 3 weeks to complete.

But we still have to do try anyway.