Costa Esuri Duplex problem
May 1st 2006, 8:06 am
#31
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Posts: 100
Re: Costa Esuri Duplex problem
Originally Posted by billybassett
Hi all,
I've asked so may questions on this subject and about Fadesa and how they will want to play the situation. As Kim said, we are all in different situations, with different expectations. I would prefer to get my money back and walk away. I'm not sure how realistic this option is for us though.
We bought our property in October 2004 from an agent. We have contacted him and he has confirmed that he made about 40,000 euros on the deal, :scared: which means we may well have to walk away with a similar loss as Fadesa will only refund what they have received - not the agents cut.
If the option is to complete on the purchase as is, then we could potentially be left with an unsellable property. Remember, if we come to sell in the futre, we may be competing against 8400 other properties. Our apartments with ac units adjacent will be extrememly difficult if not impossible to sell.
We could be stuck between a rock and a hard place. For this reason, I have asked for a complete refund and at this stage may be willing to take the immediate loss. We'll have to consider the options when and if they propose a deal to us. I am sure we would win a court case, but when we would get there is anyone's guess. We've been advised that Fadesa have the capability to drag a case on in Spain for years if they want to, and we want to move on from this, not become embroiled for months/years to come.
One option we are currently looking into is to sue Fadesa in england. EU rules mean that you can litigate across borders (I think) and we are currently looking for a good UK based solicitor for advice. Any judgement on our behalf can then be enforced in Spain.
One thing for sure is that Fadesa want rid of the duplexes. They want to move on, and don't want to be held back by this problem, so I don't think they will easily take them back from us and offer the refund. In my opinion then, to ask for the refund may put us in the best position when it comes to haggling for compensation and seeking work on the terraces.
It's such a difficult situation and from what I've heard Fadesa are being very heavy handed so what we'll get out of this is anyone's guess.
From working in a similar field in the past though, it seems prudent to ask for more than you expect, see what Fadesa offer, and negotiate from there.
What do you all think?
Karen
I've asked so may questions on this subject and about Fadesa and how they will want to play the situation. As Kim said, we are all in different situations, with different expectations. I would prefer to get my money back and walk away. I'm not sure how realistic this option is for us though.
We bought our property in October 2004 from an agent. We have contacted him and he has confirmed that he made about 40,000 euros on the deal, :scared: which means we may well have to walk away with a similar loss as Fadesa will only refund what they have received - not the agents cut.
If the option is to complete on the purchase as is, then we could potentially be left with an unsellable property. Remember, if we come to sell in the futre, we may be competing against 8400 other properties. Our apartments with ac units adjacent will be extrememly difficult if not impossible to sell.
We could be stuck between a rock and a hard place. For this reason, I have asked for a complete refund and at this stage may be willing to take the immediate loss. We'll have to consider the options when and if they propose a deal to us. I am sure we would win a court case, but when we would get there is anyone's guess. We've been advised that Fadesa have the capability to drag a case on in Spain for years if they want to, and we want to move on from this, not become embroiled for months/years to come.
One option we are currently looking into is to sue Fadesa in england. EU rules mean that you can litigate across borders (I think) and we are currently looking for a good UK based solicitor for advice. Any judgement on our behalf can then be enforced in Spain.
One thing for sure is that Fadesa want rid of the duplexes. They want to move on, and don't want to be held back by this problem, so I don't think they will easily take them back from us and offer the refund. In my opinion then, to ask for the refund may put us in the best position when it comes to haggling for compensation and seeking work on the terraces.
It's such a difficult situation and from what I've heard Fadesa are being very heavy handed so what we'll get out of this is anyone's guess.
From working in a similar field in the past though, it seems prudent to ask for more than you expect, see what Fadesa offer, and negotiate from there.
What do you all think?
Karen
Sorry to hear of the problems. I would like to thank you however for the information regarding this issue for all duplex buyers. We are feeling frustrated that we cannot yet asses the situation as our property is in M2 which is still some time away from snagging. Our own thoughts if we have the same problem is to attempt to pull out of the deal or at a minimum refuse to complete until we have what we agreed to purchase.
If all duplex buyers do not complete until the problem is resolved I think this would put sufficient pressure on Fadesa to make changes and fulfill the contract. I guess that they would not be able to collect around £100k per duplex which would hurt them in their pockets. I also doubt that they would offer compensation at a level of 10% per property as this would set a precedent and also significantly reduce their margins. It does seem that a rerouting of electrics and resiting of AC slave units to individual properties would resolve the problem for a realtively small cost ie their most economical option. Failinf to achieve completions would be the best way of putting pressure on them.
I will keep watching with interest and also speak to Fadesa to make them aware of our concerns for the later completions in M2.
Regards
JohnandCarol
May 1st 2006, 9:25 am
#32
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Re: Costa Esuri Duplex problem
Originally Posted by Woodzie
... We are going to Spain tomorrow, I even have to drive (dreading Lepe & Seville and all the rest)let me know if you want anything done or asked. Not leaving until pm.
Kim
Kim
Hi Kim & Nigel,
Thank you for offering, but I think you have enough on your list of things to do.
Just have a safe journey to Spain, and I hope you find the time to relax and enjoy your visit.Regards,
Carol
May 1st 2006, 10:04 am
#33
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Re: Costa Esuri Duplex problem
Hello JohnandCarol,
Failing to complete on the purchase also has the punishment of having your money taken away from you along with the property. This is something which worries me greatly. You might end up with nothing. Fadesa might bully many into completing, without promising a solution.
I wish I had insisted on viewing my property. On the previous 2 visits, access was not allowed, and we had put it down to building site regulations. Fadesa has not answered our fax. We need to go out and see for ourselves, or hire someone to assess the damage (if there is anything to see). The construction of the enclosures for the a/c units and electricity boxes may have been finished just in time for handover of manzanas 7 & 6. Who is to say that there are any enclosures at this very moment on duplex terraces on manzana 4 or even 2? Fadesa's failure to communicate this problem to people completing at later dates means these people continue to pay the monthly deposits.
I can not see why there should be a problem to take out the enclosures (they are not retaining walls!), and re-route the a/c unit cabling through an outside wall. This is what I would like Fadesa to do as a solution. However, I must see what my property contains before I can instruct my solicitor.
Regards,
Carol
Failing to complete on the purchase also has the punishment of having your money taken away from you along with the property. This is something which worries me greatly. You might end up with nothing. Fadesa might bully many into completing, without promising a solution.
I wish I had insisted on viewing my property. On the previous 2 visits, access was not allowed, and we had put it down to building site regulations. Fadesa has not answered our fax. We need to go out and see for ourselves, or hire someone to assess the damage (if there is anything to see). The construction of the enclosures for the a/c units and electricity boxes may have been finished just in time for handover of manzanas 7 & 6. Who is to say that there are any enclosures at this very moment on duplex terraces on manzana 4 or even 2? Fadesa's failure to communicate this problem to people completing at later dates means these people continue to pay the monthly deposits.
I can not see why there should be a problem to take out the enclosures (they are not retaining walls!), and re-route the a/c unit cabling through an outside wall. This is what I would like Fadesa to do as a solution. However, I must see what my property contains before I can instruct my solicitor.
Regards,
Carol
May 1st 2006, 10:15 am
#34
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Joined: Mar 2005
Posts: 100
Re: Costa Esuri Duplex problem
Originally Posted by Carol&John
Hello JohnandCarol,
Failing to complete on the purchase also has the punishment of having your money taken away from you along with the property. This is something which worries me greatly. You might end up with nothing. Fadesa might bully many into completing, without promising a solution.
I wish I had insisted on viewing my property. On the previous 2 visits, access was not allowed, and we had put it down to building site regulations. Fadesa has not answered our fax. We need to go out and see for ourselves, or hire someone to assess the damage (if there is anything to see). The construction of the enclosures for the a/c units and electricity boxes may have been finished just in time for handover of manzanas 7 & 6. Who is to say that there are any enclosures at this very moment on duplex terraces on manzana 4 or even 2? Fadesa's failure to communicate this problem to people completing at later dates means these people continue to pay the monthly deposits.
I can not see why there should be a problem to take out the enclosures (they are not retaining walls!), and re-route the a/c unit cabling through an outside wall. This is what I would like Fadesa to do as a solution. However, I must see what my property contains before I can instruct my solicitor.
Regards,
Carol
Failing to complete on the purchase also has the punishment of having your money taken away from you along with the property. This is something which worries me greatly. You might end up with nothing. Fadesa might bully many into completing, without promising a solution.
I wish I had insisted on viewing my property. On the previous 2 visits, access was not allowed, and we had put it down to building site regulations. Fadesa has not answered our fax. We need to go out and see for ourselves, or hire someone to assess the damage (if there is anything to see). The construction of the enclosures for the a/c units and electricity boxes may have been finished just in time for handover of manzanas 7 & 6. Who is to say that there are any enclosures at this very moment on duplex terraces on manzana 4 or even 2? Fadesa's failure to communicate this problem to people completing at later dates means these people continue to pay the monthly deposits.
I can not see why there should be a problem to take out the enclosures (they are not retaining walls!), and re-route the a/c unit cabling through an outside wall. This is what I would like Fadesa to do as a solution. However, I must see what my property contains before I can instruct my solicitor.
Regards,
Carol
According to my solicitor he has stated that we do not have to worry about completing until all issues have been resolved. This was brought up specifically relating to all the formal site services being ready (gas, electric and water) and provided by the main companies NOT temporary supplies by Fadesa. He also stated that it was within our right not to complete until the golf course was actually up and running if we chose not to. I therefore think it reasonable NOT to complete until we have been provided with the originally contracted space on the terraces.
However we as yet are in an unknown situation as to the completed space on the terraces until we are able to do the snagging. It is possible that no problem exists in M2 or M4 etc. They may also have found a solution and resolved the problem by the time we are able to do our snagging inspection. All we can do is wait and see before taking firm action but asking questions ahead of that time can do no harm.
JohnandCarol
May 1st 2006, 10:41 am
#35
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Re: Costa Esuri Duplex problem
Originally Posted by billybassett
...Now I personally wouldn't be best pleased that the major part of my terrace was surrounded by an 8 ft wall. We would need step ladders or a periscope to get a view beyond the wall. 
I would therefore want the 8ft wall reduced to a normal terrace wall height. I don't know how they could do this without it involving major work to the whole design of the building, but then again, I'm no architect. ...Karen 
I would therefore want the 8ft wall reduced to a normal terrace wall height. I don't know how they could do this without it involving major work to the whole design of the building, but then again, I'm no architect. ...Karen Hi Karen,
Yet again, I have been scrolling through past photos of pueblo andaluz to see how many different styles of apartments there are on the manzanas. And Sam posted some photos earlier on with first floor apartments having pergolas on their large rear terraces. It made me think that it should not be a problem for your particular terrace to have a pergola, using the 8' wall as a support? Knowing how you like gardening etc... Of course, this is me being optimistic and dreaming that the enclosures will be taken away first ...
Carol
p.s. Sam's photo is on pg.51 post#752 (I think).
Last edited by Carol&John; May 1st 2006 at 11:07 am. Reason: add p.s.
May 1st 2006, 4:20 pm
#36
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Posts: 106
Re: Costa Esuri Duplex problem
Originally Posted by Carol&John
Thanks, JohnandCarol, for your reassuring post. I do hope that Fadesa can bend over backwards and resolve this unhappy situation.
Hi Karen,
Yet again, I have been scrolling through past photos of pueblo andaluz to see how many different styles of apartments there are on the manzanas. And Sam posted some photos earlier on with first floor apartments having pergolas on their large rear terraces. It made me think that it should not be a problem for your particular terrace to have a pergola, using the 8' wall as a support? Knowing how you like gardening etc... Of course, this is me being optimistic and dreaming that the enclosures will be taken away first ...
Carol
p.s. Sam's photo is on pg.51 post#752 (I think).
Hi Karen,
Yet again, I have been scrolling through past photos of pueblo andaluz to see how many different styles of apartments there are on the manzanas. And Sam posted some photos earlier on with first floor apartments having pergolas on their large rear terraces. It made me think that it should not be a problem for your particular terrace to have a pergola, using the 8' wall as a support? Knowing how you like gardening etc... Of course, this is me being optimistic and dreaming that the enclosures will be taken away first ...
Carol
p.s. Sam's photo is on pg.51 post#752 (I think).
My legal advice is as John & Carole posted. Fadesa cannot take all our money and keep the apartment if we refuse to sign whilst still in dispute about the services and the property size differing from that on the plans.
They are, I believe having major problems with the water supply, and I for one will NOT be completing without permanent electricity and water. The law is on our side in this respect, and we cannot be forced to complete when only builders supplies are in use.
Re the designs of the apartments in Pueblo Andaluz. It was only by going through all the old pictures that I have realised how many different designs there are. Carol - how on earth do you remember where all the posts/pictures are. That's one hell of a memory you have there....
This explains why some terrace issues are worse than others. Hopefully Carol, you won't be affected by this problem, and you will be pleasantly surprised when you get out there. If Fadesa aren't replying to your faxes, I would complain by e-mail to Fadesa UK, and ask for the information within 48 hours or so. Alex there, got back to us straight away and forwarded the e-mail onto CE. You can then pester the UK office if they don't respond. The information you are asking for is there and readily available so there's no excuse for not getting back to you. Fingers crossed, all will be OK with your property.
If at some point in the future we are forced to complete, then I have ideas for using planting, trellis work etc to try to make the terrace as nice as possible, and as sound-proofed.
To end, we have been told to expect some news by either Friday or next Monday, as our solicitor sent a legal request for information to them, and by law they must reply within 7 days with their intentions to resolve this.
Watch this space...
Karen
May 1st 2006, 6:36 pm
#37
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Re: Costa Esuri Duplex problem
Hola,
Keep up the good spirit, Karen, and everyone affected by this!
(Memory? Who me?
Just used the "Search thread" & "Search posts" facility... )
Thanks for the helpful information, and I'll wait impatiently for some good news.
Time for my tipple
(vino),
Carol
Keep up the good spirit, Karen, and everyone affected by this!
(Memory? Who me?
Just used the "Search thread" & "Search posts" facility... )Thanks for the helpful information, and I'll wait impatiently for some good news.
Time for my tipple
(vino),Carol
May 2nd 2006, 11:51 am
#38
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Posts: 100
Re: Costa Esuri Duplex problem
Originally Posted by billybassett
Hi John & Carol, and Carol & John,
My legal advice is as John & Carole posted. Fadesa cannot take all our money and keep the apartment if we refuse to sign whilst still in dispute about the services and the property size differing from that on the plans.
They are, I believe having major problems with the water supply, and I for one will NOT be completing without permanent electricity and water. The law is on our side in this respect, and we cannot be forced to complete when only builders supplies are in use.
Re the designs of the apartments in Pueblo Andaluz. It was only by going through all the old pictures that I have realised how many different designs there are. Carol - how on earth do you remember where all the posts/pictures are. That's one hell of a memory you have there....
This explains why some terrace issues are worse than others. Hopefully Carol, you won't be affected by this problem, and you will be pleasantly surprised when you get out there. If Fadesa aren't replying to your faxes, I would complain by e-mail to Fadesa UK, and ask for the information within 48 hours or so. Alex there, got back to us straight away and forwarded the e-mail onto CE. You can then pester the UK office if they don't respond. The information you are asking for is there and readily available so there's no excuse for not getting back to you. Fingers crossed, all will be OK with your property.
If at some point in the future we are forced to complete, then I have ideas for using planting, trellis work etc to try to make the terrace as nice as possible, and as sound-proofed.
To end, we have been told to expect some news by either Friday or next Monday, as our solicitor sent a legal request for information to them, and by law they must reply within 7 days with their intentions to resolve this.
Watch this space...
Karen
My legal advice is as John & Carole posted. Fadesa cannot take all our money and keep the apartment if we refuse to sign whilst still in dispute about the services and the property size differing from that on the plans.
They are, I believe having major problems with the water supply, and I for one will NOT be completing without permanent electricity and water. The law is on our side in this respect, and we cannot be forced to complete when only builders supplies are in use.
Re the designs of the apartments in Pueblo Andaluz. It was only by going through all the old pictures that I have realised how many different designs there are. Carol - how on earth do you remember where all the posts/pictures are. That's one hell of a memory you have there....
This explains why some terrace issues are worse than others. Hopefully Carol, you won't be affected by this problem, and you will be pleasantly surprised when you get out there. If Fadesa aren't replying to your faxes, I would complain by e-mail to Fadesa UK, and ask for the information within 48 hours or so. Alex there, got back to us straight away and forwarded the e-mail onto CE. You can then pester the UK office if they don't respond. The information you are asking for is there and readily available so there's no excuse for not getting back to you. Fingers crossed, all will be OK with your property.
If at some point in the future we are forced to complete, then I have ideas for using planting, trellis work etc to try to make the terrace as nice as possible, and as sound-proofed.
To end, we have been told to expect some news by either Friday or next Monday, as our solicitor sent a legal request for information to them, and by law they must reply within 7 days with their intentions to resolve this.
Watch this space...
Karen
In spite of my more positive thoughts on the duplex situation I have spoken to Silvia in the shed who confirms ALL the duplexes have this problem. I understood they have only discovered the problem when they have started inspections and she confirms the drawings they have are probably old srawings. As was posted earlier they have been in contact with the senior management in Fadesa HQ to find a solution. This she said may be a compensation refund for the loss of space on the back terrace.
I personally would not accept that as a compromise and would wish to pull out of the sale with a full refund and put in a claim for loss of interest etc.
All she could say is wait and see what solution they come up with and make a decision when viewing takes place. For our property in M2 her best guess was sometime in July. I am therefore seeking advice from my solicitor as to my potential courses of action.
I do however hope they come up with a sensible solution to enable all the terraces to be as originally sold but with only our own appartment A/C unit on the terrace.
We can now do nothing but sit and wait. Silvia did however say that once they had decided on the solution that they would try to find a way to communicate with all duplex owners.
CarolandJohn
May 2nd 2006, 12:26 pm
#39
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Re: Costa Esuri Duplex problem
Originally Posted by JohnandCarol
Hi Karen,
In spite of my more positive thoughts on the duplex situation I have spoken to Silvia in the shed who confirms ALL the duplexes have this problem. I understood they have only discovered the problem when they have started inspections and she confirms the drawings they have are probably old srawings. As was posted earlier they have been in contact with the senior management in Fadesa HQ to find a solution. This she said may be a compensation refund for the loss of space on the back terrace.
I personally would not accept that as a compromise and would wish to pull out of the sale with a full refund and put in a claim for loss of interest etc.
All she could say is wait and see what solution they come up with and make a decision when viewing takes place. For our property in M2 her best guess was sometime in July. I am therefore seeking advice from my solicitor as to my potential courses of action.
I do however hope they come up with a sensible solution to enable all the terraces to be as originally sold but with only our own appartment A/C unit on the terrace.
We can now do nothing but sit and wait. Silvia did however say that once they had decided on the solution that they would try to find a way to communicate with all duplex owners.
CarolandJohn
In spite of my more positive thoughts on the duplex situation I have spoken to Silvia in the shed who confirms ALL the duplexes have this problem. I understood they have only discovered the problem when they have started inspections and she confirms the drawings they have are probably old srawings. As was posted earlier they have been in contact with the senior management in Fadesa HQ to find a solution. This she said may be a compensation refund for the loss of space on the back terrace.
I personally would not accept that as a compromise and would wish to pull out of the sale with a full refund and put in a claim for loss of interest etc.
All she could say is wait and see what solution they come up with and make a decision when viewing takes place. For our property in M2 her best guess was sometime in July. I am therefore seeking advice from my solicitor as to my potential courses of action.
I do however hope they come up with a sensible solution to enable all the terraces to be as originally sold but with only our own appartment A/C unit on the terrace.
We can now do nothing but sit and wait. Silvia did however say that once they had decided on the solution that they would try to find a way to communicate with all duplex owners.
CarolandJohn
Sorry to hear this negative news. We're all in this together I suppose. We've also had heard news about our options this morning, after learning the exact mark up of the property by our agent. You truly won't believe what they made from the sale! 
Basically, it makes it nigh on impossible for us to pull out of the contract. The things I wish I had known before I bought in 2004.
We now have to concentrate on getting the best possible compensation deal from Fadesa, but this all leaves me feeling wholly negative about our buying experience.
Hope others fare better.
Karen
May 2nd 2006, 1:15 pm
#40
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Re: Costa Esuri Duplex problem
Well...we need to hear the news eventhough it might not be what we want to hear.
I'm not sure how this works, but has Fadesa paid a percentage to the estate agent prior to completion? Or, only once completion has taken place? Doesn't the agent take a risk, too? In the chain of events, if Fadesa mis-sold a property to an agent, and the agent mis-sold same property to the buyer, why does the agent get away without blame?
I'm not sure how this works, but has Fadesa paid a percentage to the estate agent prior to completion? Or, only once completion has taken place? Doesn't the agent take a risk, too? In the chain of events, if Fadesa mis-sold a property to an agent, and the agent mis-sold same property to the buyer, why does the agent get away without blame?
May 2nd 2006, 2:06 pm
#41
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Re: Costa Esuri Duplex problem
Originally Posted by Carol&John
Well...we need to hear the news eventhough it might not be what we want to hear.
I'm not sure how this works, but has Fadesa paid a percentage to the estate agent prior to completion? Or, only once completion has taken place? Doesn't the agent take a risk, too? In the chain of events, if Fadesa mis-sold a property to an agent, and the agent mis-sold same property to the buyer, why does the agent get away without blame?
I'm not sure how this works, but has Fadesa paid a percentage to the estate agent prior to completion? Or, only once completion has taken place? Doesn't the agent take a risk, too? In the chain of events, if Fadesa mis-sold a property to an agent, and the agent mis-sold same property to the buyer, why does the agent get away without blame?
We didn't buy a duplex so aren't directly involved in this situation, but wanted to respond to this comment having worked in the industry myself, albeit in the UK, but I imagine things can't be all that different in spain.
The agents are only intermediaries and therefore don't ´sell´ houses, but rather provide a service to the developer. They act in good faith based on the info provided to them by the developer. So if they developer tells the agent the terrace measures Xm2, they merely pass this information on to the client. If the developer has passed on incorrect information to the agent, then the agent is not responsible - the developer is.
As for when the commisions are paid, that depends on what the contract says between the developer and the estate agent. In some cases the developer pays full commision at the signing of the private purchase contract, others spread the payment out over the term of building until completion. This varies from agent to agent.
If a developer has to refund money to a client because of an error on their part, they should (in theory) pay the full amount back to the client (although in practice who knows) with the possiblity of the client seeking compensation. The developer should not take into consideration the amount of commission they have paid to the agent for their services when refunding money to clients.
The agent should (in theory) be able to maintain the full amount of commission that they have earnt as they are also innocent victims in these types of scenarios and they completed their service to the developer by introducing the client. It wouldn't be fair to them to make the agent pay back the money they earnt as they had fulfulled their obligation in full.
So potentially it could turn out to be a very costly mistake for the developer:
1 Refunding the cost of the purchase to the client.
2 Compensation to the client.
3 Unable to reclaim the commision they have already paid to the agent.
However, if you factor in that the developer would try to resale the property at the new market value, rather than what you paid for it they probably wouldn't be too much out of pocket.
Good luck to everyone affected by the problem.
May 2nd 2006, 2:12 pm
#42
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Re: Costa Esuri Duplex problem
Originally Posted by Carol&John
Well...we need to hear the news eventhough it might not be what we want to hear.
I'm not sure how this works, but has Fadesa paid a percentage to the estate agent prior to completion? Or, only once completion has taken place? Doesn't the agent take a risk, too? In the chain of events, if Fadesa mis-sold a property to an agent, and the agent mis-sold same property to the buyer, why does the agent get away without blame?
I'm not sure how this works, but has Fadesa paid a percentage to the estate agent prior to completion? Or, only once completion has taken place? Doesn't the agent take a risk, too? In the chain of events, if Fadesa mis-sold a property to an agent, and the agent mis-sold same property to the buyer, why does the agent get away without blame?
Maybe other agents were simply marketing on behalf of Fadesa for commission. If this is the case then the difference between what was paid to the agent, and what Fadesa received may not be too great. We were so naive it's untrue.
What has happened to us is that our agent bought the property, paid *** euros to Fadesa in 2003, then sold it to us for *** euros in 2004. The difference in the 2 figures, ie, the profit margin was charged to us in the 1st instalment, so was paid wholly upfront. We have absolutely zero chance of getting this back, or so I'm told. I'll PM you with the actual figures so you can compare.
Karen
May 2nd 2006, 2:20 pm
#43
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Re: Costa Esuri Duplex problem
Thank you for the posts, amanda&charles and Karen. I'll need some time to digest this information.
Regards,
Carol
Regards,
Carol
May 2nd 2006, 2:22 pm
#44
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Re: Costa Esuri Duplex problem
Karen,
In that case your "Agent" was in fact the Principal and you have no case against Fadesa as you do not have a contract with Fadesa.
You could have a case against the "agent" and my post number 30 would apply.
The problem of course is what price did your contract with them specify, were the sizes specified and what other clauses did it have.
Best
Loco
In that case your "Agent" was in fact the Principal and you have no case against Fadesa as you do not have a contract with Fadesa.
You could have a case against the "agent" and my post number 30 would apply.
The problem of course is what price did your contract with them specify, were the sizes specified and what other clauses did it have.
Best
Loco
Originally Posted by billybassett
Thanks for the PM Carol. I'll be in touch soon. Re our agent. - Not sure if we are in a unique position, because our agent actually bought several properties from Fadesa in 2003, then sold one on to us at a huge profit, so in effect he wasn't really an agent for Fadesa.
Maybe other agents were simply marketing on behalf of Fadesa for commission. If this is the case then the difference between what was paid to the agent, and what Fadesa received may not be too great. We were so naive it's untrue.
What has happened to us is that our agent bought the property, paid *** euros to Fadesa in 2003, then sold it to us for *** euros in 2004. The difference in the 2 figures, ie, the profit margin was charged to us in the 1st instalment, so was paid wholly upfront. We have absolutely zero chance of getting this back, or so I'm told. I'll PM you with the actual figures so you can compare.
Karen
Maybe other agents were simply marketing on behalf of Fadesa for commission. If this is the case then the difference between what was paid to the agent, and what Fadesa received may not be too great. We were so naive it's untrue.
What has happened to us is that our agent bought the property, paid *** euros to Fadesa in 2003, then sold it to us for *** euros in 2004. The difference in the 2 figures, ie, the profit margin was charged to us in the 1st instalment, so was paid wholly upfront. We have absolutely zero chance of getting this back, or so I'm told. I'll PM you with the actual figures so you can compare.
Karen
May 2nd 2006, 2:27 pm
#45
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Thread Starter
Joined: Oct 2004
Location: wigan
Posts: 106
Re: Costa Esuri Duplex problem
Originally Posted by Loco
Karen,
In that case your "Agent" was in fact the Principal and you have no case against Fadesa as you do not have a contract with Fadesa.
You could have a case against the "agent" and my post number 30 would apply.
The problem of course is what price did your contract with them specify, were the sizes specified and what other clauses did it have.
Best
Loco
In that case your "Agent" was in fact the Principal and you have no case against Fadesa as you do not have a contract with Fadesa.
You could have a case against the "agent" and my post number 30 would apply.
The problem of course is what price did your contract with them specify, were the sizes specified and what other clauses did it have.
Best
Loco
our solicitor confirms that we do have a case against Fadesa, as we simply inherited the contract originally signed by the agent, and we inherited all the protections afforded to persons buying direct.
The contract definitely refers to us having 60m2 of terraces, and doesn't appear to have what are know as "abusive clauses".
Karen