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 Post subject: balconi di zambrone
PostPosted: February 2nd, 2011, 9:12 pm 
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Joined: February 2nd, 2011, 8:46 pm
Posts: 7
Location: Ballymena, Co Antrim
Hi

I have paid a deposit on Balconi Di Zambrone development and would appreciate any feedback on the progress of this development. Developer is Calabria Dreams and completion has been put back to July 2011.


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 Post subject: Re: balconi di zambrone
PostPosted: February 3rd, 2011, 12:55 pm 
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Joined: February 23rd, 2009, 11:50 pm
Posts: 209
Location: Via Pietro Vianeo 15, Tropea, 89861 VV
Hi Jacquib,

I have attached some photos which were taken last April.
We were just curious about this development and we went up to see the site progress.
To be honest, we have not been up there since, so I don't know what the progress is now like.

If I get a chance over the coming week, I will take a visit up there and take some photos.

Meanwhile if you want to send me your contact details, I can send you my findings to you directly.

Many thanks,
Paul

P.S. Sorry for some reason I can't attach any photos.


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 Post subject: Re: balconi di zambrone
PostPosted: February 3rd, 2011, 3:57 pm 
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Joined: August 7th, 2009, 2:31 pm
Posts: 290
Is this the development above Amalfi on the road to La Cappinena Pizzeria ?


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 Post subject: Re: balconi di zambrone
PostPosted: February 3rd, 2011, 10:36 pm 
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Joined: February 2nd, 2011, 8:46 pm
Posts: 7
Location: Ballymena, Co Antrim
Thanks Paul any feedback would be appreciated as any info from the developer is not very forthcoming. Sorry Pamela, not sure if this is above the Amalfi or not, i dont think so. Where is this development?


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 Post subject: Re: balconi di zambrone
PostPosted: February 4th, 2011, 12:26 pm 
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Joined: February 23rd, 2009, 11:50 pm
Posts: 209
Location: Via Pietro Vianeo 15, Tropea, 89861 VV
Hi Jacquib,

Attached are some photos which I took 30/04/2010.
If I get a chance over the next week or so, I will go and take more photos of site progress for you.

All the best,
Paul


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 Post subject: Re: balconi di zambrone
PostPosted: February 4th, 2011, 1:16 pm 
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Joined: January 25th, 2008, 8:35 pm
Posts: 1482
Location: Herefordshire/Badolato
the way the sun shines on the concrete it is almost as if you had put two photos together in the old cgi way, love the tilling of the soil for crops up to the buildings.
talking of food, cannot wait for the fennel and artichokes, well I am trying to lose weight, and failing, so getting a bit obsessed.
hope the building has restarted.


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 Post subject: Re: balconi di zambrone
PostPosted: March 11th, 2011, 7:26 pm 
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Joined: February 2nd, 2011, 8:46 pm
Posts: 7
Location: Ballymena, Co Antrim
As the developer of this building complex appears to be in breach of contract, can anyone advise whether it is worth pursuing the return of our deposit through the italian legal system or try and hold out. Original completion date was to be may 2010 but it appears now to be may 2012 with new contracts to be signed. Help!!!!


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 Post subject: Re: balconi di zambrone
PostPosted: March 17th, 2011, 11:13 pm 
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Joined: March 17th, 2011, 11:00 pm
Posts: 2
We too, paid deposit 3 years ago. There has not, as far as we are aware been any progress since may 2010 so we have decided to commence legal proceedings through our Italian lawyer. We rejected the offer of a new contract as this would have prevented us from enforcing the penalty clause under the original contract.


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 Post subject: Re: balconi di zambrone
PostPosted: March 18th, 2011, 9:38 pm 
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Joined: February 2nd, 2011, 8:46 pm
Posts: 7
Location: Ballymena, Co Antrim
Can i ask who your italian lawyer is!


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 Post subject: Re: balconi di zambrone
PostPosted: March 18th, 2011, 10:57 pm 
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Joined: March 17th, 2011, 11:00 pm
Posts: 2
At this early stage we would prefer not to name anyone via the forum as this might affect our claim in some way when our investment is at risk.


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 Post subject: Re: balconi di zambrone
PostPosted: March 19th, 2011, 3:34 pm 
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Joined: November 16th, 2010, 8:30 am
Posts: 20
I know nothing about this case but I do know about losing money on Italian property and getting it back again through the courts. At this stage it it very important to take independent legal advice.

If your original lawyer has been negligent in some way your best bet might be to claim from the original lawyer (or his professional indemnity insurance). Has due diligence been done properly? Have bank loan guarantees been in place during the whole period? Is your Lawyer conflicted by handling many/most of the contracts on behalf of the builder & did the Lawyer reveal a conflict of interests? Is the contract weighted massively in favour of the developer?

These are the questions I would ask and I certainly cannot see the point of signing another contract. You have a contract, it doesn't expire - on the face of it it signing another contract sounds like a very bad thing to do. Signing anther contract might even water down your rights which might suit both the developer and a conflicted lawyer (if this is the case).

I would like to emphasise that I know nothing of the case or the parties involved this is advice about buying in general but these sorts of thing have gone on in Calabria for far too long.

Moral of the story - chose who you deal with carefully - when dealing with somebody honest (Dennis Onstenk for example) you probably wouldn't even need a lawyer!


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 Post subject: Re: balconi di zambrone
PostPosted: March 20th, 2011, 1:37 pm 
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Joined: November 16th, 2010, 8:30 am
Posts: 20
Further thoughts....................... If the builder has breached the contract there are a few possible situations

1. If it is a normal Italian contract you might be due double the deposit back in return (plus legal fees) for breach of contract.
2. Some developments have a penalty clause where damages are incurred and you are paid a monthly rebate.

Making a new contract can be a bad idea as it resets the clock so the breach is not as bad. A court can look at the situation and sometimes the builder will claim an "Act of God" has made the delays out of his control.

In Italy it is normally quite easy to get a town hall official sign something to say it has been too hot, too wet, too cold, too windy to build. A court might give the builder a little more time so it is easier to get your money back if the development is 3 years late than to reset the contracual clock which only makes it a few months late.

Finally you can assume that the builder will know how to play the system to ensure you will not get your deposit back. A few examples...........

1. The builder's company can easily be left with no assets so legal action is a waste of time
2. Even if it is the same builder, watch that no new legal entity is involved for example, the site might be sold to a cousin or close relative to make the enforcement of contracts more difficult.
3. More borrowings can be taken out at any time which prejudices your interests.
4. Encouraging you to sign up to a new development is another old trick to buy more time and give more hope to the hapless victim.

In general terms if pursuing the builder

1. Take a legal charge over the assets which needs transcribing in court to make it valid. Then you have a charge over the site which needs to be cleared if it is sold (the legal charge goes with the land) or place a charge over some of the builders other assets like his family home.
2. Transcribing the charge means you have priority over new borrowings
3. Investigate all the aspects of any Bank Loan Guarantee

In summary, if your Lawyer has been negligent it may be easier to persue the original lawyer. If you are in a mess, it is important to get independant legal advice to take a cold hard look at all of your options.


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 Post subject: Re: balconi di zambrone
PostPosted: March 20th, 2011, 4:01 pm 
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Joined: August 22nd, 2010, 1:23 pm
Posts: 37
You may wish to verify and confirm for this yourself but unfortunately the Bank (insurance) Guarantees that were originally issued are worthless if not fraudulent.


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 Post subject: Re: balconi di zambrone
PostPosted: March 21st, 2011, 12:28 pm 
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Joined: November 16th, 2010, 8:30 am
Posts: 20
So if what Matthew says is correct, then perhaps there is a good case for suing the lawyer who did the due diligence. In an area where these sort of off plan scams are rife it is up to the Lawyer to make sure that all Bank Insurance Guarantees are 100% valid.

A UK based Lawyer is always covered by professional indemnity insurance as it is a requirement by the Law Society. Most Italian Lawyers will have PII.

It is usually a lot easier to claim from a Lawyer who has insurance than a builder who can make money and assets disappear if things turn bad.


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 Post subject: Re: balconi di zambrone
PostPosted: March 21st, 2011, 12:49 pm 
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Joined: June 4th, 2007, 4:21 pm
Posts: 507
Location: London
I suppose you would have to find out first whether the builder was bankrupt and make the claim to the insurance company before you could establish any loss as a result of a worthless or fraudulent bank guarantee.

It might also be worth looking at your letter of care from the solicitor you originally instructed to see what they say they will do in relation to the bank guarantees.

In my case, Giambrone & Law claimed they would obtain a bank guarantee from a bank, not an insurance company, which obviously gives an added level of protection in that the bank is highly unlikely to give these guarantees without checking the viability of the project and the financial resources of the builder and of course whether it is legal.


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 Post subject: Re: balconi di zambrone
PostPosted: June 25th, 2011, 2:27 pm 
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Joined: May 15th, 2009, 9:43 am
Posts: 153
Dear Members,

We address this topic to all people who bought a property in Balconi di Zambrone by the Company “Calabria Dreams” with whom we are daily dealing.

Please feel free to contact us if you are interested in knowing the material and legal evolution of this building and all the related updates.

Kind Regards

Emily May Giordani
Zagamilaw International Law Firm
www.zagamilaw.com


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