Cape Verde Investments

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Purchaser Experience

Some Individual Stories from Clients with dealings with Tecnicil

David reach an agreement with Tecnicil in 2011 to have his funds returned in Sterling and had his contract terminated in favour of a returns contract which cancelled all his rights under the contract. To date he has received no return of his money at all and Tecnicil are not communicating with him.

Helen paid 50% on a one bed apartment in 2006 and gave Tecnicil 180 days grace to March 2009 and had bought the furniture and cancelled the contract, had no notification from Tecnicil that they and received the cancellation notice. Tecnicil then sent a pay up or lose your apartment and then said we were in breach and now Tecnicil want an extra €10,000 to complete.
Jackie. I have paid 50% on a two bed apartment on Villa Verde and Tecnicil had not completed even with an extra 180 days. I requested a full refund as provided under my contract and asked for the compensation outlined in the contract. Tecnicil forthwith cancelled my contract and kept my money.

Lillian. I was offered €11,500 discount for late completion in may 2011, now Tecnicil have asked me to complete and want €7,500 interest and condominium fees of €2,000. This after they cancelled my contract and kept my money after I asked for my money to be returned after my husbands death.

Tracy I have been asked to complete after a delay by Tecnicil with their unfounded interest, condominium fees and legal cost my completion is going to cost me an extra €20,000, with no compensation for late delivery.

Benny I paid 50% and had my contract cancelled by Tecnicil. Now they have asked me to complete and want an extra €21,500 in interest, condo fees and legal fees. My apartment is also up for sale, and I was not offered any compensation for late delivery.

Sharon I paid 50% on 3 apartments and 50% on furniture packs. Three months ago I offered to complete on one apartment consolidating into this one loosing the 50% on one apartment and one set of furniture. Tecnicil have never replied.

Richard I paid 50% in 2006 on two apartments, by September 2009 I realised that my apartments would be another 2 years in completion. I cancelled my contracts as provided in the contract. Tecnicil refused to accept the termination. I also provided them with a letter asking them to complete my apartments. I went to arbitration and lost even though I had complied with the requirements of the arbitration courts decision that this letter was required to cancel the contract. I am now contesting the arbitration through the supreme court.

Dawn We had been allowed to merge our two properties, but we would then loose our compensation. The merger was not free we had to pay Tecnicil an extra €20,000 to do this. We declined.

William I bought a 1 bed apartment in 2007. I terminated my contract with Tecnicil in 2010 with their agreement. I got €8,000 returned and nothing else and have lost my rights to my apartment and the contract.

Audrey I was willing to complete, but had lost my husband. I asked for my money to be returned because of my circumstances, Tecnicil cancelled my contract after my request and kept my money.

David I bought a 3 bed Villa and was about to complete but asked what compensation was due for late delivery. Tecnicil instantly cancelled my contract and kept my money.

George I was going to deeds and asked what the compensation was due to late delivery by Tecnicil and then Tecnicil cancelled my contract and kept all my money.

Martin I was purchasing a 3 bed Villa and was in the process of completing when Tecnicil cancelled my contract and kept all of my money.

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