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Is this the beginning of the end or is there a way out??
Phobos
Posts: 13 Forumite
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As I understand it, you've not bought the property yet. Therefore you just tell the developer you won't be proceeding with the sale and you lose your deposit? End of situation?0
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Depending on the contract signed the developer could sue Phobos (and partner) for any costs and losses incurred trying to find another buyerIf you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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Have you exchanged contracts?0
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Just read the article, but you have assets and the apartment is in England and case law doesn't always cross the Irish Sea.If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0 -
lincroft1710 wrote: »Just read the article, but you have assets and the apartment is in England and case law doesn't always cross the Irish Sea.
Case in Spain where british couple are in trouble.
http://www.dailymail.co.uk/news/article-1333710/Spanish-bank-bids-seize-couples-UK-home-miss-payments-holiday-flat.html0 -
instead I thought I’d be smart & invest in property, and unbelievably the whole economy went belly up.
A smart investor doesn't risk money that they can't afford to lose and also diversifies. You were investing with money you didn't even have and putting it all in one basket. As for the economy going belly up, this was a natural and inevitable consequence of the collective actions of people like you feeding a massive asset bubble. You were stoking the burning of your own house.
You will need legal help to extricate yourself from the situation but it is highly unlikely you will get off without paying something. Even in the Titantic Quarter case you mention, the guy paid over £26k and is not out of the woods.0 -
poppysarah wrote: »Case in Spain where british couple are in trouble.
http://www.dailymail.co.uk/news/article-1333710/Spanish-bank-bids-seize-couples-UK-home-miss-payments-holiday-flat.html
This reinforces my point that the Irish case doesn't appear to help or apply to Phobos.If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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