Completion....or bust

Hi all

have just recieved a letter from our solicitors instructing us that we have 30 days to complete or "risk losing our monies through not fulfilling our contract".

Letter also states that the developer may be in financial trouble so trying to reclaim deposit would be "not advised"  and that the developer is looking to be declared bankrupt.

All in all not great new's either way...............

Does anyone know what happens if we complete and the developer/development goes bankrupt....what will happen to all the other apartments that are not sold...will the development be a ghost town with only a few people in residence ??

How I wish I'd never got involved in this development, but with so much deposit already down its hard to decide what to do.

We  have  completed , our  apartment  is fully  furnished and we have spent our first  holiday there.

Hi
I have just been in a meeting with Juan at La Condesa to discuss a show flat to help sell the remaining units. Nothing at all was mentioned about the developer going bust. Juan has shown me all legal paperwork for the development, including the problem with the swimming pool for the license. I think the letter for completion in 30 days may just be to hurry everyone along - we all know how long it takes to get something done here in Spain!!!! As far as I can see, this is more scare mongering than the truth, there is no word of bankruptcy that we have heard of. Of course, we could be wrong, but the fact that there are gardeners and maintenance men on site, a security guard and the fact they are willing to pay money for a show flat, all looks more positive than negative!!

Paula

Do you know how many apartments / town houses are still to be sold?

Hi

I have just spoken to Juan and there are 18 apartments available. I also know the cheapest price if anyone is interested.