A. In my years of practice I have seen malpractice, negligence and abuse but with Aifos we always move one step up the ladder. Aifos is prolific in manufacturing consumer fraud, deceipt, misrepresentation and many bad things and yet we are still waiting to see if they can manufacture properties!
In your case you need to analyse several aspects of the transaction, namely:
- If there is a building licence.
- If there is a bank guarantee.
- If the developer owns the land on which the developer is projected.
- If the contract includes a clause stating that in the event of the developer not complying with their obligations they will award damages to the extent of your deposit, apart from reimbursing it (if this is not in place they cannot keep your deposit).
All of the above have to be in place in order that they can attempt to cancel your contract and cannot request that you pay any further sum.
Different consideration has to be given to the request of an extra 10,000 Euros as this barely remains in the 'civil' side of law and become somewhat criminal, close to an offence of 'extortion'
In my opinion your lawyer should be firm with Aifos and if you are able to pull out, receiving your full deposit back, proceed with it. If on the contrary the property is almost finished and you are happy with it then stick to your guns, and the law, which is fully on your side.
Note to buyers having problems with Aifos
Currently the lawfirm Lawbird Legal Services is representing a large number of clients in different court cases against Aifos
in order to claim the refund of deposits and possible compensations for properties that were never built. If you are in this same situation, or are experiencing any other problems with the developer Aifos
, and you are considering taking legal action, please don't hesitate to submit a query through this site, or contact email@example.com
for further assistance.