The MENA Group announces a delay in the handover of 60 properties currently being built in phase 2 of the “El Soto de Marbella” development.
In order to mitigate possible financial damages and problems, the developer is offering the purchasers the chance to claim compensation. This compensation, fixed at 6% of the amounts paid up until this last January, as established by the law, will be discounted from the final payment at the time of signing the title deeds. Acceptance of this proposal means the buyers renounce their right to take legal action in the future regarding this issue.
According to a report from the developer, the delay is due to technical reasons, which have now been resolved. The building licence granted initially in January 2003 had to be revised and examined by the Town Hall of Ojen. Last January, the Town Hall gave the development the go-ahead and granted the licence again to begin works.
Devwatch advises all buyers who find themselves in this situation to seek legal advice before making a decision about any proposed offer from the developer. The legal consequences of such decisions must be analysed by a lawyer so as to avoid future problems.
