I have major doubts if there are any free assets on which there are no charges already on it. I hope I am wrong - but I have heard this from a number of people (and their solicitors) now - enough to make me wary whether I should pay Miguel for to go forward for an embargo and another 3k legal fees.
I have had information that embargos dating back to 2008 have been put on assets. It was said Huma started placing mortgages on plots as soon as embargos began to be placed to block us. These Huma people are so nice?
I believe some of the embargos are now being put on non developed land within MCC - so what is the resale value of that in these times in the middle of MCC with no HC and problems of how to get water/power controlled by Huma currently?. It is possible there could be mortgages on these too.
As an exercise I got a local Mazarron solicitor to do a search on one of the empty bungalows still for sale. I was suprised to see they found out from the search that it had a mortgage of 90k and an embargo for 80k. That is on a property with no HC, mains water or elec - realistic resale value say 85k currently. So if the mortgage is repaid first (I presume) the embargo is worthless.
In a forced sale - will the bungalow fetch anything near 85k in this market - so is unlikely to repay the mortgage - let alone the embargo.
I suggest anyone looking into buying any empty property look very carefully into the charges already on it - so press your solicitor to do an accurate search.
I think we all have to press solicitors about embargo chances - as most of the solicitors want fees upfront - when they probably know our chances are maybe poorer than they might suggest.
I hope I am proved wrong - but I like many - have lost enough money on this - I do not want to throw any more money away. If this information is correct - I despair where we go next! any ideas or any other information to contradict this viewpoint would be very welcome to give us some hope???