Getting deposits back
 

I called my abogado last week regarding my plot deposit and was told that Fadesa, (or the administrator) has put forward a 7 year plan to pay back in full.

I don't know if anyone else who is trying to get a deposit back for a plot or property has heard this from their abogados, or has any further details?

Re: Getting deposits back
 

Hi Andy

We have not heard anything and neither have any of the contacts I have who purchased properties. It might be different for plots. I still have not heard what progress has been made with the cancellation of the contract. We have pretty much given up so anything would be a bonus.

Re: Getting deposits back
 

Have PM'd you.

Re: Getting deposits back
 

Hi Andy

We are in the same position could you pm us if you have any info

Regards

Dave & Lynn

Re: Getting deposits back
 

Hi,

I am brand new to this and apologise if I am jumping in and messing with the flow of the 'thread'.

I am soon (supposedly) to complete a purchase on Sea and Sun, Costa Esuri and was wondering what people local know about the overall situation.

I paid a 30% deposit five years ago and have also been wondering whether I could get it back before completion due to the time the place has taken to be ready. Have you heard of anyone renegotiating their deals with the builders/developers on Sea and Sun.

Also I wondered if anyone local knows what they are really going for at the moment because I do not get any impartial advice from the people who I have dealt with so far.They are advertised between 179,00 and 202,000 euros for a two bed two bath apt but something tells me that this is probably way off the true selling prices having read other topics on your forum.

Any other background would be appreciated as I am about to make a massive investment and want to make sure that I am doing the right thing before I commit even more money to the project.

I love the place but on my last visit in June 2009 I was shocked to see how little in terms of amenities there are and this was compounded by the lack of a bus link to and from town. Any news on these issues would be great.

Re: Getting deposits back
 

Well you could be really surprised if you visited now. From about February Sea and Sun have made a determined effort to finish and I would guess they are in the home straight as we speak the plantings done the block paving is being laid at the gate and it all looks very nice. The commercial center is no nearer and the hotel is still a shell but the local shop by the town houses is re opened and the hours are pretty good he was open at 7 last night with lots sat outside at tables drinking the cheapest beer in town. There is now a bus link of sorts the school bus comes at 08.00 and returns at 14.00 and I understand adults can catch it as well but we have not tried yet but we will just to test the rumour. So I guess if you want to be patient and enjoy the nicest town in Spain with easy access to Portugal and lots of great places come on in the waters lovely.

Re: Getting deposits back
 

i think you can answer your own questions but for you and everyone else in your posistion it is a hard decision to make in the current climate i bought in 2006 at the height of the housing market so the value of my house is now a lot lower then when i bought it i accept it and as long as i can keep working in england i can just about afford it.what you say about ammenities is correct but the only way that buisnesses are going to open and we get a bus service is if more people live there i think the problem of deposits is a direct link to the housing crash and the recession how many people would be asking for their deposits back if the housing market had gone up by 50% would you be telling the builder that it is ok to increase the price. i would advise that you get a good spanish speaking lawyer and haggle like hell that the price is now too expensive but you will pay the going rate which is probibly 50%less then what you signed up for the problem you will face is that it will not be the builders apt it will be the banks and from what ive heard from other people they have been quite happy to hold on to them for a long time but i think in the last 3 months there attitude has changed we who have places there would love to see it finished and the place buzzing but we can all understand the predicament all the people with deposits are in
good luck

Re: Getting deposits back
 

You have to remember why you bought in the first place?for profit or pleasure?,as you state you think the place is lovely has do so many others me included.

I pushed to complete as early as possible which was Dec 07,and so glad i did have had the use of it all this time,unlike some who did'nt for various reasons. But we all paid a 30% deposit so its a hard decision to make as to continue or pull out,its a lot of money to lose?.

It personally makes no difference to me that all is not complete on the urb,as its the surounding area's and the golf that i enjoy most,along with the people we have met on various visits.

As stated in the other post if values had increased people would only be prepared to pay what they signed for?. On a positive note last week the golf was held in malaga,had a look at properties on the course frontline golf and for two bed appt they are asking 420,000 Euro's.

It might take some years but am pretty sure we will all be very pleased with our purchase in the long run,article in the Mail this week was saying that most overseas developments that held their own in the recent crisis were built on golf developments?.

Good luck.

Re: Getting deposits back
 

For someone who has no connection to Esuri can I just say that the area has been a pleasant surprise when I visited last month. I guess I was expecting a ghost town but in October I saw many permanent residents enjoying their purchase/long time rental.

The area has flourished and there seeem to be many cars within the developments which have been very well kept and maintained with flowers and plants etc. Villas are being built and you can see that in time if people keep moving into the area there are likely to be more services to maintain the population but I guess this is a vicious circle.

It may take time (but what doesn't in Spain!) but you can see the potential in the overall development.

One sore point though - shame about the Golf Club!! Do you Esurians actually eat there?!!

Re: Getting deposits back
 

On occasion; a sandwich at lunchtime! :o

Steve