What do you want to get back !!!
Hi Steve
Not a new story I'm afraid to say.
Have you decided what you really want to get out of this mess.
Unless you want to take on a near full time development / selling activty that you had not planned for then maybe you would be wise to "cut & run" if you are assured of your original money back.
If you think there is much more to fight for then you could be many more months before you get anything.
Impossible to get an idea of value of the plot / building etc without an exact location and photos of the building state etc. However if its a good position and is at least 50% completed I'd say £100,000 may be a little of low valuation, but to get much more in a fluid market would mean a bit of real selling effort to find a developer willing to take on and complete someone else's building - not something I would like to do since I'd not be able to see the foundations etc.
I would guess that 20 flats in only 390 sqm means no space for a pool and hence likely to be built to sell to local people rather than tourists, in which case the potential profit if you carrfy on to completion might be lower than for a bigger site with more potential.
.
|