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We bought and paid deposits to Aifos for a property known as Balconnes De Riveria in miraflores that unfortunatley was never built due to licensing problems. This was back in 2002 and we were trying to upgrade to another development witht them but it just seems to drag on and on. What are our chances of retrieving our deposit etc.
Your options to obtain a full refund remain intact given the fundamental breach of contract. However we cannot guarantee that you will be obtaining your deposit back without executing a favourable ruling via embargos on property, bank accounts etc, for which we will need to find suitable and unencumbered assets.
Whilst the above may seem unclear from a practical point of view for while it does indicate that you will win in Court but not when you will see your money, a favourable ruling is critical to consolidate your rights and your legal position within the contract.
Bear in mind that once you have won in Court you will be in a position to:
- Execute any unencumbered property or asset owned by Aifos with an expectation to obtain your deposit.
- Negotiate a reduced price for another property in a different location, knowing that you can at any time execute the judgement. This gives you an enormous bargaining power of negotiation when it comes to imposing your conditions on a new deal with Aifos and attaining price reductions of up to 25% of the original price.
Should you require further clarification on the above and/or information on how to proceed further do not hesitate to contact me.