Legal tip 608. Buyers and developers united vs banks
Tuesday, October 4, 2011 @ 1:04 PM
As an answer to this thread of the forum:
As soon as claims against the Banks finally consolidate, they will not be in that dominant position within the real estate industry in Spain anymore and life will get back.
- Claims by individual buyers: enforcing Bank Guarantees, effecting general Guarantees and using provision 1segundo of Law 57/68
- Claims by developers: on Bank´s breaches of financial agreements between them two.
The expected formula for claims: buyers and developers togethers vs Banks is being the perfect mixture for advancing on Market balancing.
We are helping developers in our mission to help buyers and try to organise a more balanced market. It is being a huge effort! At the end of the day, both developers and buyers, were victims of the voracity of finantial institutions during the boom years.
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"Anticipation: ronda, lauria - before feria", Ronda - Malaga, Spain, by Sean Wallis, at flickr.com