Refunds from Banks even when no Bank Guarantee was issued

 Legal tip 636. Great for Burgos and Valencia on the defence of buyers against Banks in off plan purchases 

If you bought a property off plan in Corvera Golf and Country Club from Corvera Golf and Country Club, S.L. and you did not receive an individual certificate of Bank Guarantee, you might be interested on this:

Together with last one by Murcia, new Case Law ones coming out by Burgos and Valencia deffending the obligation of Banks to refund, in cases where individual certificates of Bank Guarantees were not handed to buyers.

In essence the protective character of this wise Law dated 1968 plays the big role in favour of buyers who advanced good amounts of money for something that initially is just an architect plan.

Law 57/68 made Banks guardians of buyers amounts, in what it is a very correct approach with a great sense of balance of markets and limits to the strong parties.

If you are interested on information about this action, please email us to web@costaluzlawyers.es

We keep going ahead!

"Grazalema", Cádiz, Spain, by Werkmens, at flickr.com

Hi maria,

              It is over 4 years ago since i paid an initial deposit of 33,500 euros for a flat on phase 4 at corvera. At first they kept in touch advising how the build was proceeding.I was supposed to pay a second installment also of 33500 euros but they never contacted me to ask for this. My own lawyer instructed me that i had a good case to take them to court even though i had not received a bank guarantee. I have lost faith in her as surely she should have insisted that i have a b.g. at the beginning. She has now asked for the initial fees to initate court proceedings to get my deposit back. If calidona refuse to return it then i have to pay more to further proceedings against them. There is a saying here that you should not throw good money after bad, meaning if you have no chance of success why proceed. After reading your mail i now want to go ahead but would like to know how you think my lawyer has dealt with this matter

yours sincerely

Scotia              

Hi Scotia

If you are as you say an actual purchaser at Corvera and not just a fictitious post made up by somebody who has a grudge, then you are not just the only purchaser who has been asked to pay more than 30 percent before completion but also the only one I've heard of who was not issued bank guarantees.

With this in mind you may also accuse them of victimisation for singling you out amongst the hundreds who bought into Corvera.

If you are genuine then I'm very sorry. If you are just a troll then don't bother making a SECOND post.