Advice from anyone who knows Murcia/Lorca?

Hi,  I have heard today from Grupo Alzo that the building licence for Lorca Golf and Spa will be granted shortly.  (They have given me a lot of the whys and wherefores, and appear to be waiting for one signature.)  My contract states that I can have my deposit refunded, plus legal interest, if the licence is not granted by Sep 30 2007.  I am inclined to request a refund as I think this is the best way to cut my losses.  The developer says that a recent independent valuation has shown that the apartments have increased in value by 25% - but who knows?

Any guys who know the area - is it saturated?  Could I sell on?

Any advice gratefully received! 

Cheers,

Ann

Well Dixie

It all comes down to 'do they have full permits'...sent you a PM

And I suppose that applies to all the early buyers

& a bank guarantee....important

too inland for me ....but that is just a personal view..I'm sure that many have decided to buy at Lorca as a new 'Life Style '.......like it and will enjoy it when it is built

But if you have doubts....check the basics

Hi Dixie,

I don't know your development at all but if you are still waiting for licenses, which can go on forever, and can get out of your contract without penalty - then I would jump ship if I were you.

The Lorca area is a nice area and pretty Spanish - it is by no means saturated - strangely it has been widely ignored despite being in a good area and only a short drive to Aguilas (Spanish beach resort). The problem is that the area has been a bit overlooked by many buyers and hence could take a while to sell on. it is a Spanish mid sized town near the motorway, not especially pretty, not fantastic facilities, nothing wrong with it but nothing going for it either - Get out while you can.

Jamie

Hi guys, thanks for the replies.  You have confirmed my thought that I should jump ship.  I have emailed my lawyers to ask them to set the refund in train.  I'll let you know how I get on!

Cheers,

Ann