Has the band bank stopped my sale?

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27 Nov 2012 8:02 AM by wired Star rating. 5 posts Send private message

I put down a deposit and I also signed a contract to buy an apartment in Marbella back in October. It is a great deal less than half price and a lovely apartment. However my solicitor has said that the bank selling it has stalled on the sale. They think it is because the bad bank will give them more money than what I am paying. I have looked into myself and it looks like I am not alone.

My solicitor has said that it has happened to everyone buying on the same development, he also said that as I am paying less than 75% that is owed, that this is more than likely the real reason for the bank. As these properties could now go back to the bad bank for more money than we are paying.

I should of completed a few weeks back. Are others experiancing the same problems as me, it is very stressful as the longer it goes on I am worried that I will not complete until the new year and it will cost me 6% more in taxes.

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27 Nov 2012 8:35 AM by johnzx Star rating in Spain. 5255 posts Send private message

If you have signed a contract to buy then there must be a completion date shown
 If the seller has refused to sell on that date,  then they must refund the deposit and pay you an equal sum in compensation .
I would suggest you get in touch with your solicitor and ‘read the riot act.’
(I have said here many times I have never employed a solicitor to buy or sell, as in my opinion most are useless, this would seem to be an example of that )

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27 Nov 2012 12:26 PM by Bede Star rating. 15 posts Send private message

The bad bank has definitely not stopped your sale and someone is obviously lying to you. However, if you have an agreement to purchase (this doesn't need to be a notarised document) then you should insist that the deal goes ahead. Sounds like you've got the wrong lawyer...


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27 Nov 2012 1:28 PM by rod Star rating in Uk and Spain. 469 posts Send private message

 Totally with John on this one you may wish to engage another solicitor ASAP to avoid the possibility of paying more tax or losing the SALE


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