Just got this from our solicitors, anyone got any ideas as to what it means :
Let us inform you that finally a judicial administrator has been appointed, who will be in charge of protecting the fulfilment regarding the legality on the purchase of these Aureus apartments.
We have been in touch with the administrator’s assistance and according to him the complex will be completed in about 4 months, therefore it will be possible to proceed with the signing of the Deeds in 6 months, once the judge gives his total approval.
If you are interested in resolve the Private Purchase Contract, it will be possible and the developer will refund you the total amount paid until now.
On the other hand, if you would like to transfer the rights of the property (resell the property before completion), you should wait for the judge’s decision which will be unknown until the end of October. In case that the cession is approved by the judge, the compulsory legal documentation, according with these kind of transactions, will be signed and the payment of the respective cession’s taxes will be required.
We remain you, that the property which you are buying is located in a hotel apartment complex, where these kind of housings have special conditions, as for example the exploitation of the housing’s rent by a supervisor accepted by the community of owners, obligation of transferring the property for its exploitation during one month, etc.
After the information given, we will much appreciate if you confirm us back your decision of proceeding or cancelling the purchase, transfer the rights of the property, etc, as soon as possible.