Singing Pig

Hi SarahW, email me and I can send some useful information on to you, if you wish. There is loads going on at the moment with regard this.

best wishes

I am a brand new member to this site and honestly wished I had heard about it earlier. I was starting to believe that I was alone on this one and was trying to fight a losing battle but having read some of the posts, while disappointing as the situation is, it is encouraging to see that perhaps as a group, something can be achieved.

We have also purchased at Bahama Bay - off plan in 2004 and initially due to complete in 2006 but our phase was only ready for completion in October 07. As with many of the posts I have read here, Fuel USA were unable to offer us a mortgage in October 07 so I spoke to Ellie Surey at Inside Track who told me they would try to resell the unit as we would be unable to complete and the process would take 4-6 wks to get my deposit back. Well after loads of voicemails left at IT to try and get some answers as to what was going on, March 08 I finally got a response from Ben Farthing at IT as follows. Has anyone had any luck with contacting the developers and getting their deposit back?

Simon, i like your idea of writing to McKay and copying in Duncan Farner at the Mail on Sunday - have you had any response from McKay?

Alistair,

I am sorry that our correspondence has been interpreted as an unwillingness to help assist you so I am hoping that this communication makes clear the situation and the areas that we can help in.

1. We had agreed back in October 2007 to re-market your unit to our investor base. At this time the developer was fully aware of this activity and was comfortable with the approach.
2. We made you aware at the time that your deposits would be returned once a replacement investor had been sourced and they had successfully exchanged.
3. In the interim and as a show of good faith we returned the introduction fee that you had paid for the unit on reservation (not because we felt the investment was in anyway flawed)
4. A potential buyer was found for your unit and was communicated to you by Ellie Surrey but the sale did not proceed
5. The situation with regards to financing in the US has been made more complex because of the global credit situation. Lenders are reviewing their criteria and offer conditions on an almost daily basis and at IAP we have worked extremely hard over the last few months to source other lenders outside of the brokers reach.
6. In March 2008 Maesbury Homes wrote to all purchasers with outstanding completions informing them that having taken legal advice themselves they were no longer offering to allow those purchasers to withdraw from completion. As the units were rapidly approaching the final stages of completion Maesbury made clear that unless purchasers completed they would therefore forfeit their deposits.
7. IAP does not want to see this happen to any of its investors. We have therefore suggested that you can either appeal to Maesbury Homes directly or consider completion again. We can help and assist with the latter route with the lenders that we are currently working with.

Kind regards

Ben

""We have therefore suggested that you can either appeal to Maesbury Homes directly or consider completion again.""

ie - we wash our hands of all this  -  and we dont give a dam if you lose your deposit ....   typical  IT  

you guys have to get a class action going .....  no other way  

Beware, I lost my deposit on another development, and I am one of many, many people. Google them and just see how many really awful newspaper stories come up.

They do not take any risk, they do not buy anything, so all the risk is on us and we pay them heavily for the priveledge.

Hi, i've been contacted by someone else who purchased/or is purchasing there. If you drop me an email I can bounce th contact on to you if it is helpful. He says he is going out there later in the year so that might be good.

best wishes

One option worth considering if you have an outstanding contract at Bahama Bay is to try to renegotiate the price - the way the market's going, Maesbury, who paid a commission to IT on each sale, might be glad of some cash.

Also, a legal case is now being prepared against Inside Track/Instant Access Properties by a leading London law firm. Vince Cable MP is also planning an adjournment debate on the activities of such firms, after receiving numerous complaints from IT clients.