Developer gone bust ..what do we do?
Posted: 05 October 2009 03:57 AM  
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We completed the purchase of a property near denia in January 2008. Since then the builder has gone off the radar and the pool and communal grounds have not been completed (it is on a community of 11 houses). Despite this we have stayed at the property a few times but last time we went our spanish neighbour (the only other person to complete their purchase) advised us that the builders elec supply was about to be cut off.
1. can we get our own direct supply from the elec company.
2. we have a bank g’tee due to mature in Jan 2010 for 12000 euros if the habitacion certificate is not in place - I assume we will still get this,
what is the likely outcome. do the banks usually sell off the whole plot to another developer or does the local council get involved and finish the development with the g’tee monies from the developer

Thanks

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Posted: 05 October 2009 04:20 AM   [ # 1 ]  
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in two more paper work again

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Posted: 05 October 2009 04:13 PM   [ # 2 ]  
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Suggest you take legal advice from a good solicitor who is not in any way involved with either builder or selling agent - if you are stuck I can recommend:

Pellicer and Heredia - office in Alicante 965 480 737

they speak English but are Spanish.

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Rob
http://spainreexposed.wordpress.com/

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Posted: 05 October 2009 05:25 PM   [ # 3 ]  
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I just happen to mention this to a Spanish friend, he says you will have to take legal action with the bank guarantee, or you could lose it. I don’t understand the details…you need a good solicitor!

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Rob
http://spainreexposed.wordpress.com/

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