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Unregistered
10-21-2009, 09:48 PM
I have bought a property off plan at the above site and did not receive a Bank Guarrantee and never advised as such by our solicitor and would like to know who's responsibility to ensure that such documents were in place?

As in same situation as many others, we are now getting many emails from our solicitor which would appear that they may not be acting in our best interest as seem to be stalling at every opportunity as original promised we would receive 80% of our monies within a 12 month period which has now lapsed.

any advice would be welcome?

Regards

QP

Lawbird Lawyer
10-22-2009, 09:19 AM
Dear Sir/Madam,

From our experience developers are not refunding buyers even if at fault post credit crunch.

I take it you have not filed a lawsuit against the developer and have been waiting for 8 months that they refund you out of their own will into your bank account.

On the matter of bank guarantees I wrote an article many years ago which was published last year:

Bank Guarantees in Spain: All That You Ever Wanted to Know but Were Afraid to Ask (http://www.marbella-lawyers.com/articles/showArticle/spanish-bank-guarantees) - 12th November 2008

As for who's responsibility it is to ask for a bank guarantee the law doesn't rule on this point. What the law rules is that it's the developer's responsibility to issue one to off plan purchaers for each of their stage payments including the initial security deposit striking the property off the market.

Similar queries:

Is my lawyer professionally negligent? (http://www.marbella-lawyers.com/forums/showthread.php?t=803) - by Lawbird Lawyer - Tue, Oct 6th 2009, 18:05, (3 Replies)

Breach of Contract by Developers (http://www.marbella-lawyers.com/forums/showthread.php?t=723) - by Lawbird Lawyer - Tue, Aug 25th 2009, 08:42, (3 Replies)

End of Building works (http://www.marbella-lawyers.com/forums/showthread.php?t=152). - by Lawbird Lawyer - Thu, Jan 22nd 2009, 14:02, (3 Replies)

Getting deposit back from developers with no bank guarantee (http://www.marbella-lawyers.com/forums/showthread.php?t=386) - by Lawbird Lawyer - Tue, Mar 24th 2009, 11:26, (3 Replies)


Yours faithfully,
Raymundo Larraín Nesbitt

Suzanne
10-22-2009, 01:14 PM
I'm sure that the developer for Santa Ana (HDT) is now under Administration. Hopefully your lawyer has already placed you on the creditors list?

Lawbird Lawyer
10-22-2009, 03:38 PM
I'm sure that the developer for Santa Ana (HDT) is now under Administration. Hopefully your lawyer has already placed you on the creditors list?

As Suzanne helpfully points out, if your developer has filed for Receivership you must join the Creditor's List within the deadline to at least stand a chance of recovering something. Make sure you are included on time.

Yours faithfully,