If you are in the middle of an off-plan contract cancellation action or are thinking of claiming.
There are many things to be done depending on how the finantial/economic situation developer in the comiong months.
First thing to bear in mind is that this is going to be a buyers market for many years ahead, and with that no-pressure by sellers and buyers running the show....
-You can buy with good price and excellent interest rates
-You can rent with an option to purchase, with a fixed price in advance.
-If you are pursuing cancellation ( action that can also be called: "restore action" as it put balance in the contract after an abusive contrat") You have got several finantial assets:
-A potential credit against a developer for the refund of x plus legal interests.
- Buying rights on the property in between ( the developer cannot sell to anyone else till the contract is effectively cancelled and your money refunded).
- A better position within the creditor´s meeting ( if that ever happened)
So... it is not just a matter of contract cancellation at whatever cost, it is a matter of re-establishment. Many of the clauses of many of the contracts I have seen duting the last 3 years and a half are corrosively abusive. Repugnant.
I am enlisting some of the games you can play with the above mentioned assets at hand ( but I am not a finances expert.... so please, make your conmtributions! ):
- You can negotiate a great price reduction with the developer along the judicial proceeding and complete on the property at a much reduced price and with much reduced interest rates
- You can sell your buying rights to someone else and withdraw the claim, negotiate with both developer and new buyer on the payment of the judicial costs ( it seems German and Norwegian have already some money to look for some sun).
It is all a matter of some fluctuants, not rigid factors such as:
- Evolution of the market
- Flexibility of developer
but the possibilities are there ( together with many other ones, I am sure)
that.... together with the awesome sensation of being back in control of the situation or at least of a great deal of it. What do you think?
Could we all together transform the current situation in a win-win scheme?
Please send your ideas and have a great weekend.
Maria
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