Mortman

Hi Mountie.

No, contracts do NOT say that a bank guarantee is in place. You have to ask for one either from your agent as we did, or San Jose direct. You may be charged a nominal fee per year, we pay 1% although when you buy your property, some agents will agree to pay it for you.

              Bob.

Hi Mountie

I agree with Bob. There are many of us without a bank guarantee (not through lack of asking mind you). My contract didnt state that there was one in place and I wasnt advised by my agent to get one at the start either.

You can get hold of them through your solicitor and so far mine hasnt made any mention of charging me for it but thats not to say that they wont.

Rachel

Hi Guys,

my agent was offering a 3000 euro furniture package with my sale, and when i asked san jose for a bank gaurantee they dropped the furniture package to 1000 euros.

I have since cancelled this from san jose and gone back to my 3000 euro package as my agent has now supplied the guarantee.

It sems like the commision to agents is paying for the furniture pack plus however much more they are receiving.

I did not start off with a bank guarantee but pushed my agent until i eventually got one it took me 9 omonths

so keep at em Rachel and all who don't have one

It is illegal for any developer not to have bank guarantees in place and can face heavy fines if they don't.  Bank Guarantees are to be provided free of charge.  Anyone who is charged for one shouldn't be.  Probably another way of getting more money out of buyers.

The offer of the discounted furniture package is a little strange.  Are they trying to minimise the amount of bank guarantees they give out to reduce their legal obligation should things fall through perhaps... mmmm...