Deposit £11k on a 1 bed apt at Erkel Haz 2 years ago. District 8 Budapest

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clare1234

Guest
Dear All,

I'm new to this site so please be gentle with me... i'm very fragile at the mo!

I put a deposit of £11k down on a one bed apartment at Erkel Haz about two years ago.

For the past two years i've been let down by the UK company I bought it from, the Hungarian solicitor and now the developer.

The apartment was due to be finished in June 08 but this has been delayed. I have been given several actual completion dates so I have no idea when the apartment is ready. The developer has offered no payment to me due to the delay (the builders went bust), I have not signed any paperwork stating I am ok with the delay.

Due to the ongoing problems with all parties involved and my health (sever stress due to this purchase) and financial situation I have pulled out.

The developer has refused to give me any of my deposit back, and the solicitor doesn't seem to want to help.

Am I entitled to any of it because of the delays and not signing any amendments..... and the extremely poor level of service?

I have spoken to a UK solicitor but they want £250 to read through my original contract to decide whether it's work claiming through the biased Hungarian legal system.

Any advice would be appreciated as i'm at breaking point.
 

budapest

Frequent Poster
Messages
936
Re: Despair!! - District 8 Budapest

Unfortunately, delays are part and parcel of many construction projects in every country. For the most part, buyers have to put up with them, unless something very specific is written into the purchase contract. On first impression, it sounds like you entered a contract and then pulled out without completing, so it would appear that the developer is entitled to keep your deposit.

I don't think the Hungarian legal system is biased. It's a very open and fair system and I would guess that if you have a legal right to get your deposit back, then you will get it.

Is the contract in Hungarian or English? If Hungarian, I'd be happy to have a look at it for you.
 
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clare1234

Guest
Re: Despair!! - District 8 Budapest

The whole situation is a nightmare. I will happily give you a copy of the contract to get your perspective. It does state that if there are any delays, once a 30 day period has passed the devloper will owe me interest at a certain rate per day. The hand over was supposed to be in June 2008, I have yet to sign the final sales agreement and either pay the balance in cash or mortgage. As the final agreement hasn't been signed the internal installations haven't been done. To me hand over is when it's completed to a standard that's liveable and rentable.
How can I get a copy of my pre sales agreement to you?
Your help would be greatly appreciated.
 
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clare1234

Guest
Re: Despair!! - District 8 Budapest

Have had an offer of 5% deposit refund from the developer. This equates to approx. £4k of my £11k original deposit paid. Have said that I am seeking legal advice and would only accept 10% at the very least. Fingers crossed!
 

gar123

Frequent Poster
Messages
298
Re: Despair!! - District 8 Budapest

hi there, is my calculator off how is 5% of the deposit 4000€ when deposit was 11000?

best of luck with it
 

ringledman

Frequent Poster
Messages
620
Re: Despair!! - District 8 Budapest

Erkel Haz,

I looked at buying here, glad I didn't. Realised the british agent was charging 30% more in euros to us Irish/British than the forint price to the locals.

Budapest developers are a corrupt old bunch.
 
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clare1234

Guest
Re: Despair!! - District 8 Budapest

sorry should of expainned my calculation. I paid a 20% deposit which equals approx £11k (16510euros) I've offered 5% of this amount.

I have until Monday to decide.

My solicitor seems to be working more for the deveoper than me! He has not given me any advice on the offer. I have explainned that the developer hasn't honoured his contract but the solicitor has ignored my concerns.
Has anybody sued a developer... or a solicitor in Hungary for that matter?
The devloper has taken 15% of my deposit for a "frustration" termination of contract. Huh HE'S FRUSTRATED!! ... I had to pull out because of frustration withe the company I bought the property through, the mortgage company, the solicitor and the developer. Believe me I am not the sort of person to complain at everything but this has almost driven me to end my life!

I just simply want to get as much of my money back for a shocking level of service without putting too much further pressure on my state of mind.

Any advice would be greatly appreciated!
As anyone challenged the developer and won. Surely if the developer has offered a 5% refund he it admitting to some guilt, i'm sure it's not done as a good will gesture, that wouldn't make good business sense!

Help!
 

ringledman

Frequent Poster
Messages
620
Re: Despair!! - District 8 Budapest

If your pulled out of the agreement then unfortunately you can't expect your deposit back. The contract will set out the terms of the agreement.

It is unlikely that the fact that they havent paid you any delay money means that you can pull out. Whilst you could probably have sued them to recover these sums, this is unlikely to give you the option to pull out of the deal.

Again the initial contract will set out these terms.
 
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Cormac767

Guest
Hi I also have paid deposit on Erkel Haz and was delayed by this builder, and I am about to make final payment.
Would be interested to chat more about this.
My e-mail is deerhoff@gmail.com
Best regards
Cormac , Dublin
 
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