Newcomer in '08

An old chestnut I know however going through my paperwork from San Jose I noticed my Bank Guarantee had run out on the 1st of May this up until now has cost us 1300euros!! I asked our solicitor to get us a copy of the new guarantee and he has told me this will continue to cost me 142euros per quarter. However the interesting and worrying part of his reply was as follows:

The delay expected is around 1 year (January 2009), so if you have the Bank Guarantee and the property is not delivered by April 2008, you can execute your ban Guarantee and recover your money back plus legal interest, always if the cause of the delay relies on the builder, so if the delay is caused by council of Jumilla being slow with the building license or Murcia Government with related permissions, then the builder cannot be blamed and will not refund any monies.

I just wonderd if anyone else had been told about money not being refunded if its not the builder fault.

Cathie and Charlie

R10 703

Is your solicitor taking money from you for getting a bank guarantee I think they are charging you over the odds

as my own runs out early next year                                                                         AND HAS COST ME NOTHING

I will be discussing this issue with my solicitor when I see her on the 21st of June along with other issues we all have contracts with the builder NOT jumilla council  do we not I will also ask this question

The problem is you have to ask for absolutley everything you want and not leave it to chance will update on my return unless anyone knows different

GAL

Cathien,

Nobody has to pay anything for the bank guarantee until you complete on your property.If you have been charged already then you have been ripped off. Also it is possible not to pay anything at all for your guarantee if you get your solicitor to 'have a word' with Tomas at SJ. The guarantee should in fact be supplied free of charge! SJ know that.

Hi

we haven't paid any money yet apparently this will be added to the purchase price once we complete, I have put in a call to my agent and will hopefully speak to him tonight, our original completion date was May'07 but this then changed when we received the purchase contract to Jan'08 so perhaps this is why the Bank Guarantee expired on 1st May I am not sure.  

Cathie and Charlie

R10 703