03 Apr 2007 6:05 PM:
Currently buying an apartment off-plan and paid 30% deposit. Completion was due in December 2005, however Licence of lst Occupation has still not been granted due to legal proceedings against the authorities in Marbella council. Some buyers have completed and living on development using builders water/electric. Never ever seen a copy of the Bank Guaranty, so does this give us a right to cancel the contract without penalty (or can the Developer refute this because of the problems with the local authority not issuing the First Occupation Licence)??
Forum thread:
Habitation Licence Granted, But Apartment Not Ready.
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