Litigation to retrieve deposit from Developer

[seamus 2]

Hi, are there any solicitors on here who could give some advice on going down the litigation route in order to get a deposit returned from a off plan development that I pulled out of after the long stop date.  Or has anyone been in this situation?  It for a city centre development in Liverpool with a hotel group/developers.  
 

I pulled out after the long stop date in May last year and I’m still owed the balance of the deposit that was not in a stakeholder account.  I have tried everything I can to negotiate with them but they don’t respond through their solicitors.  It’s £9k so not a massive amount but a lot when you add in the loss of two years rent and capital growth if they had finished the development on time. I don’t want to spend thousands to get back this amount.  The total deposit was £35k and the development was meant to be finished in March 2019. 

I have spent hours and hours on this and sent 100’s of emails and phone calls to my solicitors but have had no success. 
 

I would appreciate any help /advice. 
 

Thanks!

[EvolutionBlogger 81]

I don't know anyone sadly, but I don't think a solicitor will help you in this situation. Solicitor's aren't cheap, so the cost of hiring one will quickly creep up. 

Also there's no guarantee of getting your money back. It may be the case of 'throwing good money after bad.

You may need to get active on legal forums, and get some free advice. 

 

[seamus 2]

Thanks, yeah I was hoping to get some advice on here. Not sure if it’s possible to sue for my money back plus costs?  And true I don’t want to spend a lot to get £9k back. 

[julia urquhart 173]

As its under £10k you could try MCOL  - that's pretty cheap. And if you use your local court and its not near them they are unlikely to defend, helping your case.

 

Good luck  

[EvolutionBlogger 81]

5 hours ago, seamus said:

Thanks, yeah I was hoping to get some advice on here. Not sure if it’s possible to sue for my money back plus costs?  And true I don’t want to spend a lot to get £9k back. 

You can sue for money and costs. But there are limits - not being a solicitor, I don't know what the limits are.

You need to get advice from solicitors, not property investors. I don't think the people on this forum know too much about your query.

 

[seamus 2]

Thanks Julia, I’ve sent the MCOL an email to see how they can help.