What price completion?

Now that I've found this forum, my first post!

Having brought through Sunset Estate four years ago, I,m told the development (as far as the apartments is concerned) is ready to complete on.

However the world has changed and I'm concerned about buying a property that is no longer worth the money I agreed to buy it for all that time ago. Now I know prices can go down  as well as up but it seems to me that owning an apartment and the market falling, is very different from completing on a property that is so late and now cannot be valued at the rate we all started from.

I'm wondering if this is a concern to anyone else, has anybody had or agreed compensation for the late delivery, if so what is on offer? I'm sure many are pleased that Romamber have survived and are finishing the project but I worry that although I'm told there is a mortgage available for each apartment the actual bricks and mortar aren't worth the valuation. Isn't this what got us into this mess in the first place, property being over-valued.

Just an thought, am I the only one who is worried about this?

Ruth

Well from our point of view the whole saga has just gone on way too long ( I suspect everyone feels like this) but at least we are finally getting somewhere. I don't know what other people feel but I think the properties are worth more than the remainder left to pay and therefore I personally see little point in trying to pull out of the contractual agreement. To be fair I'm sure Romanber are doing thier best in what must be difficult circumstances for them.

My real concern at the moment is that other properties in the area appear to have no holiday rental potential. I may be wrong but there seems to be a glut of property laying empty even at peak times. I hope I am wrong on this.

Anyway it's good to see some posts on here at last.

Regds to all

Nigel