08 Dec 2009 4:59 PM:

http://www.eyeonspain.com/forums/posts-long-9283.aspx

Community thread: Dona Julia El Patio Completion Date

--------------------------------------

08 Dec 2009 4:57 PM:

Apparently Spanish law states that you are not obliged to complete if you cannot afford it / get a mortgage

I'm not allowed top post link to discussion on this, but Go to general spain forum / buying property and read discussion on 'implications for not completing'

 

Community thread: Dona Julia El Patio Completion Date

--------------------------------------

25 Nov 2009 10:49 AM:

if you signed the private purchase Contract before the economic downturn, its quite realistic that the value of the property has gone down around 40%. I know there are some exceptions e.g. upmarket properties around puerto banus. If you are looking for a 70% mortgage based on the original amount and you get an independant valuation carried out, I don't think many banks would be mad enough to lend you more than what the property is worth !. So if you have to get 3 refusals, just take your new valuation and apply to 3 UK banks and avoid the developers bank - I presume its your right where you go for your mortgage.

Forum thread: implications for not completing

--------------------------------------

22 Nov 2009 11:07 AM:

 Maria

Would you be required to provide proof that you do not have sufficient finances to complete - I imagine it would quite a difficult thing to prove. Also have you heard of any developer actually taking clients to court to force them to complete ?. I know in our development (Dona Julia - Hercesa Phase 1) that many people just walked away and lost their 12.5 % deposits and that was that. It would just be impossible for the developer to go after all individuals who choose not to compIete and I'm sure there must be many in the current economic climate 

Forum thread: implications for not completing

--------------------------------------

27 Oct 2009 10:13 PM:

 Have just been there for a week - my apartment looks down on 17th fairway. Course was still being played though not very much

Community thread: Dona Julia Golf Course

--------------------------------------