Think again before buying in the Costa del Sol

LoadingFavourite

This topic contains 8 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 10 years ago.

  • Author
    Posts
  • #52435
    Profile photo of Anonymous
    Anonymous
    Participant

    We have purchased a property on the Costa del Sol and we are unable to complete on this property we will have to forfeit on the deposit. Anyone thinking of buying in Benahavis area think carefully and research your agent as we believe the property has been misold to us under false pretences . I also question the integrity of the company I bought from so PLEASE everyone take care when purchasing and research the agent very carefully

  • #67307
    Profile photo of katy
    katy
    Spectator

    In which way did they misell?

  • #67308
    Profile photo of Anonymous
    Anonymous
    Participant

    future financial model did not add up , e.g rental value and number of weeks rented out. Running costs not taken into account and interest rates were not realistic. In addition they offered us buy back opion which expire in within a few months of purhcase knowing we had a concerns about purchasing. This was a hard sell .

  • #67309
    Profile photo of Anonymous
    Anonymous
    Participant

    Did you use the developer/agents lawyers? It is a risky business at the moment relying on either selling on an off plan property before completion. Or relying on rental income to service mortgages etc on the property on CDS (and some other growth areas of Spain.)

    The phrase “caveat emptor” buyer beware has never been so true outside of UK.

  • #67310
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes we used the agents’ lawyer feel like such a sucker!!!

    What does caveot empur mean??

  • #67311
    Profile photo of Anonymous
    Anonymous
    Participant

    What is the name of the development in Benahavis?

  • #67312
    Profile photo of Anonymous
    Anonymous
    Participant

    Las Lomas del conde Luque

  • #67315
    Profile photo of Anonymous
    Anonymous
    Participant

    I don’t know that one. I thought it might have been another development that is built on top of the mountain!

  • #67318
    Profile photo of Anonymous
    Anonymous
    Participant

    @vivaespania wrote:

    Yes we used the agents’ lawyer feel like such a sucker!!!

    What does caveot empur mean??

    Did you mean caveat emptor? This is a latin term meaning ” buyer beware”

    In other words “be cautious”

    regards
    jez

You must be logged in to reply to this topic.