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Why not sell?

I trust you are well. Who told you you cannot sell the property, as there is no Cedula? If you complete and a purchaser is found, the solicitors retain an agreed amount, until the cedula is issued, which is not if, but when. This is the way the Spanish purchase all the time.
Regards, Steve

Category: XabiaMar 1
Posted by: Steve Nott on Sunday 8th October 2006 @ 16:20:00

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But how much to retain? If it was just the admin delay then I could understand taking a view but my understanding is that the Town hall will not be issuing a Certificate unless the problem is sorted out - which is I understand is because the property has not been built in accordance with the plans. Our solicitors are still advising not to complete.

Geoff

Posted by: Geoff on Sunday 8th October 2006 @ 22:20:00

A retention of say 10-15%, agreed by both purchasers and vendors. This is normal in Spain. It is an admin delay. The town hall will not enforce a building structural change. They will impose a fine to the developer, if he is wrong. The developer believes he is right. Hence the deadlock. Regards, Steve

Posted by: Steve Nott on Monday 9th October 2006 @ 08:27:00

If it is common for a buyer to retain a percentage, why has Mt Sendra refused to do this himself?

Posted by: Colin Douch on Monday 9th October 2006 @ 10:35:00

A retention of 10%-15% is said to be normal pending obtaining the C of H, yet it has been reported that Mr Sendra has refused this arrangement himself.

Posted by: colindouch on Friday 13th October 2006 @ 15:24:00

Yes, you are right, Colin. Normally the builders/developers do not allow you to retain any monies. However the re-sellers and purchasers can make these private arrangements.

Posted by: Steve Nott on Friday 13th October 2006 @ 15:35:00

Steve, I've checked with my solicitor, and his fee is fixed at the original rate. He points out that he does not get his fee until completion so it's not in his interest to seek to delay things. His main concern is that without the C of H, the suppliers companies could cut off their services. He is Spanish, and a lawyer who knows the system well. We feel we must follow his advice.

Regards

Colin

Posted by: Colin Douch on Wednesday 25th October 2006 @ 09:50:00

Hi Colin, I understand your situation regarding taking your solicitors advice. However, it would not be in the developers interest to have the services cut off. The pool would soon turn a spinach shade of green and the tenants living there would have no water or electric. Again, it is my belief that this is scare mongering. Ask your solicitor if he knows of a complex, building or any other project, that has had services terminated?

Regards, Steve in Javea. Sunny, 25c

Posted by: Steve Nott on Wednesday 25th October 2006 @ 10:11:00

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