Bank Guarantees: All That You Ever Wanted to Know but Were Afraid to Ask
I have purchased an off plan apartment in Mojacar. The original contract was signed without a bank guarantee. I am now being asked to sign a new contract incorporating a parking space(not in the original price/contract) as the developer is claiming this is part of the planning requirement. Could this be true or could it be a way of raising more finance and selling the parking spots. If I sign the new contract presumably I should demand a bank guarantee prior to doing so.
Bank Guarantees: All That You Ever Wanted to Know but Were Afraid to Ask
Hi Bernice
I am in the same development as you. Thanks for your post. I wonder if you would mind providing me with the contact details of the solicter you are using please.
Regards
Steve
Bank Guarantees: All That You Ever Wanted to Know but Were Afraid to Ask
If our conveyance lawyer was unable to obtain the promised bank guarantee should they have advised us to stop making further progress payments?
Bank Guarantees: All That You Ever Wanted to Know but Were Afraid to Ask
What happens if your solicitor fails to deliver the bank gurantees which are due at the time of the 30% deposit, stalls every time you ask, then the builder does not complete and goes into receivership and it emerges that there were never any guarantee. You then find that this has happened on a large scale, the police are investigating fraud such that the case will take several years and after police and legal costs there will be nothing left. Will the solicitors malpractice insurance provide a glimmer of hope.
I read your article but it becomes totally impossible to see bank gurantees until 30% has been handed over.
Can you advise
Bank Guarantees: All That You Ever Wanted to Know but Were Afraid to Ask
Hi.i bought off plan 2005 paid deposit then in 2007 got solicitor to check contract and get Ni number ect..long story short developer vailed to complete and is in jail,,employed spanish solicitor to take to court to get money back,,i now find that i have no bank guarantee,,should this have been brought up when contract was checked in 2007 as part of normal practice? i have asked the solicitor and as of yet had no action..seems we will win in court but as there is no bank guarantee and developer in jail no mney to be had..really angry that solicitor did not mention the so called guarantee that we were meant to have but seems we never got it..can you advise..
Bank Guarantees: All That You Ever Wanted to Know but Were Afraid to Ask
I have successfully claimed against my bank guarantees but the interest was not forthcoming, am I by law able to pursue this as the guarantee is binding? People I know have received 6% from the same bank!