Martinsa Fadesa - scare tactics - forced completion!
#1
Martinsa Fadesa - scare tactics - forced completion!
Some of you on this site will know that we chose not to complete on our Rago 1 apartment for a variety of reasons. Today I received a registered letter formally notifying me that I had to complete on the purchase of my apartment by the the 15th June and if I did not I was warned that MF would proceed with a lawsuit in the courts demanding fulfillment of the contract with the ability to seize assets and revenues of our existing property to force through the completion.
I had asked my solicitors to cancel this contract over a year ago and had effectively walked away. The solicitor says they cannot do this but I am still worried - I cannot afford for anything to affect my home in the UK. Can anyone advise? Is this just scare tactics? They can have my hefty deposit I had given up on it anyway but they cannot have anymore.
I had asked my solicitors to cancel this contract over a year ago and had effectively walked away. The solicitor says they cannot do this but I am still worried - I cannot afford for anything to affect my home in the UK. Can anyone advise? Is this just scare tactics? They can have my hefty deposit I had given up on it anyway but they cannot have anymore.
#2
BE Enthusiast
Joined: Nov 2005
Posts: 943
Re: Martinsa Fadesa - scare tactics - forced completion!
Some of you on this site will know that we chose not to complete on our Rago 1 apartment for a variety of reasons. Today I received a registered letter formally notifying me that I had to complete on the purchase of my apartment by the the 15th June and if I did not I was warned that MF would proceed with a lawsuit in the courts demanding fulfillment of the contract with the ability to seize assets and revenues of our existing property to force through the completion.
I had asked my solicitors to cancel this contract over a year ago and had effectively walked away. The solicitor says they cannot do this but I am still worried - I cannot afford for anything to affect my home in the UK. Can anyone advise? Is this just scare tactics? They can have my hefty deposit I had given up on it anyway but they cannot have anymore.
I had asked my solicitors to cancel this contract over a year ago and had effectively walked away. The solicitor says they cannot do this but I am still worried - I cannot afford for anything to affect my home in the UK. Can anyone advise? Is this just scare tactics? They can have my hefty deposit I had given up on it anyway but they cannot have anymore.
#4
Banned
Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Martinsa Fadesa - scare tactics - forced completion!
Wouldn't bother with a lawyer. Those spanish lawyers are colluding in the scaremongering. Seems you have thrown enough money away. Just go to one of those free debt advice centres in the UK. because if they are going to chase you for this they will have to go through the UK courts.
#5
BE Enthusiast
Joined: Nov 2005
Posts: 943
Re: Martinsa Fadesa - scare tactics - forced completion!
Wouldn't bother with a lawyer. Those spanish lawyers are colluding in the scaremongering. Seems you have thrown enough money away. Just go to one of those free debt advice centres in the UK. because if they are going to chase you for this they will have to go through the UK courts.
If my assets were at risk. I wouldn't trust it to a No Win No fee service.
#7
Banned
Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Martinsa Fadesa - scare tactics - forced completion!
Some stuff here on another forum, perhaps you should all get together
http://www.spanishpropertyinsight.co...php?f=8&t=4895
Last edited by jackytoo; May 28th 2010 at 9:14 pm.
#8
Re: Martinsa Fadesa - scare tactics - forced completion!
I have actually done this but I think I am going to make use of a Spanish lawyer here in the UK and get rid of our Ayamonte solicitor who do not seem to have supported us. We have been pretty laid back so far but I now think it is desperate - we could be in trouble! They can have our deposits but that is it.
#9
Forum Regular
Joined: Nov 2009
Posts: 245
Re: Martinsa Fadesa - scare tactics - forced completion!
I have actually done this but I think I am going to make use of a Spanish lawyer here in the UK and get rid of our Ayamonte solicitor who do not seem to have supported us. We have been pretty laid back so far but I now think it is desperate - we could be in trouble! They can have our deposits but that is it.
#10
Just Joined
Joined: Apr 2008
Posts: 6
Re: Martinsa Fadesa - scare tactics - forced completion!
i also received the same letter as did my brother in law on the properties we were buying. i have spoken to our solicitor who has given us a coupe of options. None are awe inspiring but one is to try and sue for breach of contract. our solicitor has 6 people in our position. if we could get more involved maybe it would make it financially viable. the other option was to re-negotiate the purchase price, again the more involved the better the proposition becomes for Fadesa
#11
Re: Martinsa Fadesa - scare tactics - forced completion!
i also received the same letter as did my brother in law on the properties we were buying. i have spoken to our solicitor who has given us a coupe of options. None are awe inspiring but one is to try and sue for breach of contract. our solicitor has 6 people in our position. if we could get more involved maybe it would make it financially viable. the other option was to re-negotiate the purchase price, again the more involved the better the proposition becomes for Fadesa
We have taken on a new solicitor because we had asked our present one to cancel the contract but he did not and did not keep us informed so this was like a bolt out of the blue. We have asked the new solicitor to look at the facts - assess our situation from a contractual point of view, also to speak to Martinsa Fadesa to see what options there are especially as we do want to complete - we informed them of this in 2007 in writing due to the poor quality issues on our part of the urbanisation. We heard nothing. I am happy to collect an email list of people who are in a similar position regardless of solicitors to see if we can share information. Please feel free to PM me and if willing I will construct a list and circulate.
Did your solicitor give you any indications of the likelihood of a successful breach of contract or of the cost? I am hoping that the new solicitor will look at the situation with fresh eyes and provide an informed and unbiased view on what options there.
#12
Just Joined
Joined: Aug 2010
Posts: 4
Re: Martinsa Fadesa - scare tactics - forced completion!
I have actually done this but I think I am going to make use of a Spanish lawyer here in the UK and get rid of our Ayamonte solicitor who do not seem to have supported us. We have been pretty laid back so far but I now think it is desperate - we could be in trouble! They can have our deposits but that is it.
We have purchased a property on Costa Esuri, but due to various problems with it, we have not completed. We have paid quite a hefty deposit though. We have heard from our solicitor that the developer intends to take court action in order to force us to complete. We would value any advice you may have from your own recent experience.
Many thanks,
Gary