Hi leeabby
What Maria has recommended is or course the correct legal advice any reputable solicitor would give.
Now ?
What does your solicitor say regarding your individual situation on this development ?
Is there a danger that the developer could go bankrupt while waiting for the licence ?
What would happen to your deposit if they did go pop?
If they went pop are you happy that a bank guarantee would pay your back you deposit.?
If your case is taken to court and you lost are you aware that some developers are claiming lost interest etc ( I only say claiming
)
Is this property what you want and do you want to complete ?
What is holding up the licence?
Are their issues that could stop a licence being issued?
Are the banks lending on this development ?
Are you moving out to Spain to this development.?
What happens to your deposit if they knock the development down ? (it completed so the bank guarantee may then be void )
Why not consider completing if thats what YOU want and have a clause entered or a sum held pending the issue of the licence ?
PERHAPS MARIA COULD ADVISE IF THIS THIS COULD BA ARRANGED.
SORRY BUT WHILE THIS ONE FITS ALL IS THE CORRECT UNLESS YOUR PARTICULAR CASE AND DEVELOPMENT IS CONSIDERED THERE ARE MANY NOW THAT HAVE TO TAKE THEIR OWN VIEW.( and that may mean stepping outside of the block)
This includes what you are doing and getting advice from several sources so as to make an informed decision.
ON THE OTHER COIN THE DEVELOPMENT MAY BE REFUSED A LICENCE/THEY MAY KNOCK IT DOWN AND YOU MAY NOT BE ABLE TO SELL IN THE FUTURE.
GREAT CHOICE
Could be a case of damned if you do and damned if you dont.
THIS IN NO WAY IS INTENDED TO STOP YOU TAKING MARIAS ADVICE BUT SOME HAVE TO HAVE A PLAN B OR C
Good luck
Dan
This message was last edited by Just Dan on 6/3/2008.