22 Jul 2009 11:01 PM:

All,
I have personally used the solicitors in question, to date and found them to be very expensive for the services provided, especially in respect to the initial costs involved with purchasing at the development. Most of the initial cost was reduced significantly by obtaining items such as an NRE certificate myself and forwarding on.I have since again asked for advice and information on pulling out and it appears to be the standard response you all mention with no guarantee after initial outlay to start proceeding.

Being skeptical since the solicitor was recommended by the development, I forwarded the contract to an independent Spanish solicitor located in the UK who read over the contract free of charge. From an independent view it was suggested that the contract/ insurance policy was written very vaguely and it could easily be swung in the insurance companies favor based upon all dates being approximations, leaving us out of pocket for such fee's to start proceedings. What they did say was that come 30th June 2010 it was clear cut that the development is late and the insurance company would have no choice but to pay out.
 

Given that the Spanish property market is now slow, I have suspicions that certain solicitors are looking for revenue from other sources to keep them in business.

I am keen to get my money back, however just have a suspicion that we will have to wait till at least June 2010 if they do not meet this contractual deadline or will end up with the property that we signed up for, The negative side to that being it is not as easy to get mortgages as it was in 2007 and greater deposits will be required especially if the mortgage lender does not agree with the initial valuations due to the slump in property prices.

If anyone knows different, or can add a positive spin on any of my concerns then please advise as the excitement of this venture has now been lost.
 

Community thread: Anyone considering pulling out?

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