Comments on: Have you got a Negative Property/Real Estate Story? http://www.nubricks.com/archives/17/have-you-got-a-negative-propertyreal-estate-story/?utm_source=rss&utm_medium=rss&utm_campaign=have-you-got-a-negative-propertyreal-estate-story Overseas Property Investment Blog Thu, 04 Aug 2011 08:28:32 +0000 hourly 1 http://wordpress.org/?v= By: Nubricks http://www.nubricks.com/archives/17/have-you-got-a-negative-propertyreal-estate-story/#comment-188 Nubricks Tue, 23 May 2006 15:23:18 +0000 http://www.nubricks.com/archives/17/have-you-got-a-negative-propertyreal-estate-story/#comment-188 I have heard this story over and over in Spain. I even posted about it a while back here http://www.nubricks.com/archives/22/new-developments-in-spain-not-ready-on-time/ Even if you do get a clause in your contract, it is not always easy to get the compensation, the legal system in Spain is a notoriously slow one! I understand your frustration, but in many of these cases it is a waiting game, which is always hard if the flow of information is slow. I have heard this story over and over in Spain. I even posted about it a while back here http://www.nubricks.com/archives/22/new-developments-in-spain-not-ready-on-time/

Even if you do get a clause in your contract, it is not always easy to get the compensation, the legal system in Spain is a notoriously slow one!

I understand your frustration, but in many of these cases it is a waiting game, which is always hard if the flow of information is slow.

]]> By: edna mellor http://www.nubricks.com/archives/17/have-you-got-a-negative-propertyreal-estate-story/#comment-187 edna mellor Tue, 23 May 2006 14:47:39 +0000 http://www.nubricks.com/archives/17/have-you-got-a-negative-propertyreal-estate-story/#comment-187 We purchased an off plan property almost 2 years ago. We were informed at the time that it would be ready in June of 2005 give or take a couple of months. The property was actually completed in August of 2005. However becuase of the amount of property build in Spain the deeds are still not ready for signing yet. We have been given a date twice by the builders that they were ready for signing, only to be let down with excuses that they are not. Our solicitor informs us that there is nothing we can do about it as to sue could take up to two years and there is no guarantee that we would win. We bought this as an investment and should have been renting it out since last year, however the only pople who have made any money so far is the builders as 50% of our money has been tied up with them for almost two years. The motto of the story is to ensure that you get some form of writen compensation clause in your contract for late signing of deeds if possible. Does any one have any similar story and what was the outcome. Siffice to say that we are frustrated and not too impressed at the moment. Regards Edna We purchased an off plan property almost 2 years ago. We were informed at the time that it would be ready in June of 2005 give or take a couple of months. The property was actually completed in August of 2005. However becuase of the amount of property build in Spain the deeds are still not ready for signing yet. We have been given a date twice by the builders that they were ready for signing, only to be let down with excuses that they are not. Our solicitor informs us that there is nothing we can do about it as to sue could take up to two years and there is no guarantee that we would win. We bought this as an investment and should have been renting it out since last year, however the only pople who have made any money so far is the builders as 50% of our money has been tied up with them for almost two years.

The motto of the story is to ensure that you get some form of writen compensation clause in your contract for late signing of deeds if possible.

Does any one have any similar story and what was the outcome.

Siffice to say that we are frustrated and not too impressed at the moment.

Regards

Edna

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