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
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 .
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.