Living In Mallorca

Relocating to Mallorca

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Just a hiccup – or something more serious?

There has been a hiccup in our plans, once again!

An email from our abogado on Thursday left me feeling rather fed up and wondering whether we would actually ever complete on our purchase.

Apparently the seller (construction company) had been to his bank to get a final figure on the outstanding mortgage on his property only to find that the mortgage was more than the offer we had made. “A little more” were the exact words.

He is having further discussions with his bank and we should know the outcome in about a week’s time.

My dilemma is that we have no further money available to increase our offer. Also I am left wondering whether or not this is just a ploy that the seller is using in an attempt to get more money out of us.

After all he knows we are in a hurry to complete!

I feel a little bit suspicious – after all he has 9 properties that he is selling, you think he would have known how much mortgage was left outstanding before he accepted our offer and allowed us to involve the costs of searches, abogado etc.

Add to that the continued storage and rent costs we are incurring while we wait to move into a new home I can see what little money we had going steadily downhill.

I believe it is a matter of ‘oh it’s the English that are buying, they have money, lets get some more out of them’!

Sorry mr construction company, we are English but we are not capitalistas and we have no more money. Don’t mess us around – either sell it to us or not, one or the other!

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Property Purchase Update

The proposed completion at the end of this week is not going ahead.

At the moment the seller is waiting for his bank to inform him of the settlement figure for the mortgage on the house and it is taking longer than he hoped.

So in an effort to prevent us from being disappointed the estate agent is suggesting we focus on the early part of March.

Oh well, the money is here in the bank, our solicitor is ready, we are ready, just the bank we are waiting for. C’est la vie – or should I say ‘que sera’.