Bank Guarantee

My lawyers just e-mailed me to say that the developers have not put up the bank guarantee that is required by Spanish law to give us as purchasers protection against default by the developer. The developer has not replied to requests for info and my lawyers have given 5 days for them to provide a guarantee or the contract is void (written in to our terms of contract by our lawyers) and we are to have our money back !!

This is not good news but I thought it prudent to let you know.

Paul.

To the Joyces

We are in the same position and using a company called Lawyers of Spain.

Do you know of any more information about the development since your last post?

Mark and Sarah x

Hi, No we haven`t heard any more. I have just sent an e-mail to the lawyers to enquire. By the way we also use Lawyers of Spain. It`s a pity if the deveopment doesn`t get finished because it is in a lovely location isn`t it? Stillwith the present climate it might be better to have the money paid back in my bank and not theirs!

Paul.