Medina Elvira in Granada

Discussion in 'Spanish property' started by Propertyinvestor, Mar 24, 2007.

  1. lawfirminspain

    lawfirminspain New Member

    Do you think the option to revoke the contracts signed because of the delay and the lack of the habitation license?
     
  2. Marcus Smith

    Marcus Smith New Member

    Money back from ACC-Peninsula

    Hi,

    I bought an apartment at Medina Elvira 23 and, as time passed and there was no occupation license, I spoke with a friend of mine in Costa del Sol to get some advice. He recommended me his lawyer, who has helped him sometimes with some issues with Estepona's Town Hall and some companies.

    I called him and got an appointment. He told me not to sue Peninsula, 'cause they have no money, and go instead claim my money to the insurance company, ACC (I think it´s called like that). I thought about it for a few days, and I decided to go ahead and sue ACC as I have the bank guarantees for the money I gave Peninsula.

    The months passed (justice in Spain is, we may say, a bit slow) and finally we had a trial against the company. Everything went well, as my lawyer helped me prepare the trial the day before. Some months after we had the official communication, WE WON!!!!!!!!!!!!!!!!. ACC didn't appealed and I got MY money back. I know I've been lucky, lucky enough to hire a good lawyer.
    His name is Oscar Calvo, he has his office in Estepona (Malaga - Spain). It's easy enough to find out his number and address by internet. Hope this helps!
     
  3. alyna

    alyna New Member

    wow Marcus,

    You're pretty lucky to be able to get your money back..

    Thanks to that great lawyer you've got,

    Some people would not be as lucky as you are.
     
  4. SusanaSuspenda

    SusanaSuspenda New Member

    We had a contract to sell these properties about this time last year and decided against doing so.

    Also got an email on another forum telling me not to do business. I also have a friend who worked there in the legal department and she didnt get paid for two months.

    I have no idea what the situation is now.

    Its a shame because its in a wonderful part of the world and with all the best deals in Andalucia nearly gone it would have a lot to recomend it.
     
  5. SusanaSuspenda

    SusanaSuspenda New Member

    I am going to speak to the developer and get there side of the story but things like this dont help Spain at all.
     
  6. DC

    DC Member

    True, I think there were in the whole of spain at one point 2 developments offering guaranteed rental, one was grupo balboa and did not pay and this one. The people sell the lies, take the money and the investors are left high and dry.

    A very short term sad mindset to have. People lose credibility in others.

    spain traditionally was a tough buy to let market. Now the prices are down, if you can choose very carefully the asset and have a rental strategy in place you can do okay, not rich quick but pretty okay.

    When things go up all the time people think they make on capital growth, but when they go down they are sitting on negative equity and bills, it should of always been about the underlaying rental demand if was an investment property.
     
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