20 May 2008 12:00 AM:

I am currently purchasing a 2 bed apartment in Phase 4 (under duress).  To keep a long story short my situation has changed somewhat and I no longer have a need for an apartment in Spain.  

I have tried to get out of my obligation to complete on the grounds that the developer 'miss informed ' me that the habitation licence had been applied for in December 06.  This was the last chance that I had to pull out of the deal which I most certainly would have done if I had known the truth about the habitation licence.  Since it became obvious that the habitation licence had not been applied for the developer has strung me along with promises of a full refund plus interest.  Call me gullible but I was actualy surprised when I was recently asked to complete the sale with no mention of a refund now that the habitation licence has eventualy been granted.

My questions are thus:

1.  Do I simply bite the bullit and purchase.  Try to rent the apartment long term and hope that this covers morgage costs untill such a time that the market improves and I can sell and hopefully recover my losses.
2.  Do I seek a better solicitor who can fight my corner for a refund due to the 'miss information'.
3.  Do i purchase and try to sell on immediately.
4.  Do I attempt to sell before purchase and try to limit my loss.

I have paid approx euro 70k off a final price of euro 202k.  Any advice would be welcome.

Community thread: Bankers Guarantee with Polaris World.

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