Dear Sir/Madam,

The topic of forced completion has been covered already in other threads:

forced complete ( 1 2)
Unregistered

When you buy an off plan property in Spain you will sign a binding contract for both parties. Whenthe developer attains what is known as the Licence of First Occupation from the Town Hall the developer will send you a registered letter to complete on the property ona given date before a Notary public.

If you fail to close, at the developers own discretion, he may withhold the amounts and/or sue you demanding fulfillment of the contract. i.e. that you complete. This can be enforced against any assets you may hold whether in Spain or elsewhere such as in the UK or in the R.O.I.

What you cannot do is simply walk away on having lost on your investment thinking there will be no legal consequences to your actions.

When you sign a purchase contract you are committing yourself to buy that property in the future at that price regardless if the price later on goes up or down. That is a calculated risk you are taking.

In Spain we have no gazumping or gazundering, unlike the UK.

In any case it may be a good idea to contact us privately on your matter.

Yours faithfully,
Raymundo LarraÃ*n Nesbitt