bank guaruntee

Could someone please tell me what a bank guaruntee is?

We have paid our deposit for off-plan property.  But we have some problems and as a bank guaruntee is often referred to on this site and we don't have one, i wondered if we should and how it would or would not affect us.

Many thanks.

 Spam post or abuse? Please let us know

You can find information on Bank Guarantee here:

www.eyeonspain.com/Secure/articles/article.aspx?article=/bank-guarantee-legal.aspx

 Spam post or abuse? Please let us know

Hi Avícola.

Please take a look at our article on Bank Guarantees.








This message was last edited by Lawbird on 9/23/2008.

 Spam post or abuse? Please let us know

Lawbird, some of EOS members might like to know, I am sure: what is the relationship bewteen Lawbird, Marbella-Lawyers and Lawyers of Spain ?

Please do not take it offensively.

As the open and clear forum that EOS is, members deserve that information, which do not appear in your signature.

 Spam post or abuse? Please let us know

María we are still waiting for your public apology on this thread to your unwarranted and unfounded attacks such as the one above -yet again- in case you've forgotten your unjustified rant and aggressivity from an issue you had completely misunderstood:

http://www.eyeonspain.com/forums/posts-long-5411.aspx

It is remarkable how you endeavour to permanently attempt to attack us on each and every thread we open or any post we reply to, never adding a constructive criticism only being negative. You are quick to criticise and slow to apologise.

Do you have a vested interest in ousting us from EoS? Is this the "Eye on María" forum ? Do you have a monopoly on Eye on Spain and it's threads ? Becaue it would seem you do in light of all your posts and behaviour.

We repeat once more, we never mention you in any of our posts, ever. The only time we happen to mention you is when we are obliged to defend ourselves from your constant cyber harrassment such as the post above. Always bent over backwards in tarnishing our good corporate name in each thread we contribute to on EoS. Don't you grow tired of it?

It is becoming tiresome and monotonous.

As you've seem to forgotten our post of 4th September already, which at the time you labelled in your reply as us "overreacting", it is only blatant we at no time overreacted.

If any of our clients are unhappy with the services Lawbird offers they are free to complain to us, to Malagas' Bar Association or else post it on on this or any other public site and we will endeavour to address the matter and solve any contentious issue arisen. As you've probably noticed already there aren't many threads opened criticising us in this or any other public sites, in fact there are none to the best of our knowledge. 

The only criticisms come invariably from you María, permanently. Unlike you we do not brag continually about our success rates, besides going against the Bar Associations' Professional Deonthology it is simply not our professional style.

We copy you once more on our reply of 4th September to another of your attacks (cyber slime ?) in the hope that this time you ascertain the message:

Dear colleague María, please, Mr Antonio Flores has not written this or any other legal article posted on EOS or for that matter even replied to any query as "Lawbird". Other company lawyers have done so and are duly credited on our websites as the authors.




This message was last edited by Lawbird on 9/23/2008.

 Spam post or abuse? Please let us know

Thank you very much for the replies and I fell I fully understand what the BG is all about.  Obviously it is a 'must have.'

What i cannot understand is why I did not know anything about it before, and our Estate Agents did not raise this matter with us and for us - or at least inform us that we should go to a solicitor ot make sure we had one raised.

Instead, when we asked about the possibility of the developers becoming insolvent, the sales manager said it could never happen as they were such a big company.

When we asked about what would happen if there were delays in completion, and we were told that could not happen either as there were huge penalties.

When the completition was grossly delayed ie  20 months past the licence date given by the Ayuntamiento we asked the sales manager what our rights were, and he told us 'none' as they would claim Act of God or similar.

The development has now been completed (23.5 months past the licence date) and have the cedula.

But we do not want to complete.  Almost the worst part of this story is that we paid a deposit on 7 apartments (Sept 2005) and we took advise from the sales manager who assured us that this was a great opportunity which they would not be able to repeat. so we put all our money on it.  (Yes, immensley unwise).

The estate agents told us first of all that it was 'tough luck' and we would loose our deposit and 'why would we think anythink different.'

Now we have taken it further with a solicitor and he has issued a 'demanda' to cancel the contracts and try and get our money back. But, other than that, it is very hard to get any information out of him.

And now the estate agents seem to want to do as much as they can for us.  First of all they contacted the devlopers and asked if they would do a deal with us. (This was without our knowledge)  As a result they offered that if we took possession of 3 apartments, they would refund us 75% of the money on the four.

We refused the offer.

The estate agents now say they will ask the developers if all of the deposits can be put on one apartment, and we take possession of that.  They say that they highly doubt we will get any money back through the courts and we will have to wait 2 or more years just to have a huge solicitor bill at the end of it.   If the developer agreed to the deal and we accepted, we would loose money on that, around 80,000 euros, plus end up with a property around 30,000 euros less in value than we will have paid for it.   But at least we would have something.

so it seems we have to gamble yet again.

Any advice at all would really help.

 Spam post or abuse? Please let us know

Dear Coleen, we cannot stress enough the importance of obtaining aBG securing your stage payments as highlighted in our article on BGs.

It is the responsibility of the lawyer you appoint to obtain it on you purchasing an off-plan property in Spain.

One cannot stick one's hand in the fire for any company nowadays regarding its financial viability. That's the whole purpose of BGs to secure all your interim payments to the developer including the initial reservation fee.

It is not the Estate Agent's job to obtain these on your behalf, unlñess agreed otherwise, it is really your lawyers' professional duty as per our article if you've appointed one to do the conveyance on your behalf.

 Spam post or abuse? Please let us know

Again, Lawbird, with all my respect, you are overeacting. I was just asking you to refer to your relationship/links  to Lawyers of Spain. Is anything wrong or negative or  aggressive in that question?

I am glad I have no monopoly in EyeonSpain. We have worked hard and with full honesty, proffessionalism and clients care. That is the only truth. 

We welcome every new colleague who contributes in the forum according to the rules.

 Spam post or abuse? Please let us know

Mar Durio is our specialist in Non-Resident taxes. We used her account by error.

 Spam post or abuse? Please let us know

maria, thanks for the clarification i was beginning to think i had had too many beers yesterday night! :) not sure what the dispute is between you two, but i believe it does no good to either of you. in the eyes of those of us looking to retain the services of a spanish attorney, you look childish.

 Spam post or abuse? Please let us know

Apologies for that Chris. You are very right. We need to overcome our differences. 

I was just inviting them to be clear on who they are but I found a reaction different to what it was expected.

I hope to develop better relationships in the future. Just mutual respect is needed.

 Spam post or abuse? Please let us know

it seems obvious who they are, they are lawbird. or is it that you are suggestin they are not who they claim to be? some developer in disguise? apparently it aint the first time you bring up this issue. what is it exactly you want to prove? I’m taking an interest in this matter because both of you are my top choices for legal representation and want to know what the deal is.

 Spam post or abuse? Please let us know

Oh no, it is much simpler... it is that Lawbird, Lawyers of Spain and Marbella-Lawyers are related and could not understand why they do not add " Lawyers of Spain" to the signature... very simple.

Please be fully free on choosing your legal representation... that´s the way it needs to be.

 Spam post or abuse? Please let us know

Coleen - If I've understood your post correctly - you have paid a deposit on 7 apartments and now you want to pull out.   The final offer from the Agent is to combine all the deposits you've paid onto one apartment and then you complete on that one.  

Not clear as to why you've lost 80k if this happens, think I understand that the30k you mentioned is because the apartments are now worth less than you expected.

You've obviously received bad advice from the agent, did they recommend a solicitor to use when you originally bought.

I suppose really it depends on how much the solicitor who is dealing with the case is going to cost over the amount of time it takes to go to court.  I understand the courts are really slow and it could take years.  So that could be the only honest bit of information that the agent has told you.

If you like the apartments and you can get all the monies you paid out so far transferred into the one apartment then I would have said you'd be very lucky and should consider the deal.

What you need to know is could the builder take you to court for failure to complete on the 7 apartments?  The fact that the apartments are now worth less is basically tough although some builders are reducing the prices to get buyers.

Perhaps if you tell us the area you are buying in then someone may have some unbiased information which would help you.

 Spam post or abuse? Please let us know

well, i dont' know what lawyers of spain is but i don't see why they should be hiding the fact that they are related if they really are. most important, what interest do you have in pointing this out in so many threads? is there's anything wrong about the above companies we should all know?

 Spam post or abuse? Please let us know

Hi  Chris, I will tell you, as Maria is too professional. Marbella-Lawyers is a web site run by Lawbird. If you go into the Lawbird web-site, they will not list who are the lawyers working in the firm,   which I believe are the same ones that  form Lawyers of Spain, a firm which takes his clients through developpers and agents (hence the conflict of interest). I imagine that Maria's interest come because when relationship between developpers, agents and clients go pearshaped, these mentioned lawyers do not show interes on fighting their client's corner and THEN, this clients (if they have been lucky enough to get into EOS) will get help from Maria.
I just wish that we could post in the forum some of the e-mails that have taken place between those lawyers and clients (myself to start with) as to warn other members.

 Spam post or abuse? Please let us know

At last!
Thank you for bringing some sense to this spat andenca!

Can I suggest that all the Lawyers involved, communicate their future arguments via PM's?

Because, as a topic of interest, on Friday, I attended my Niece's "Admissions Ceremony" to The Law Society in Chancery Lane London.
I listened with interest to the Law Society President's speech.
One thing that stuck in my mind was his talk on integrity ~ (Integrity is consistency between one's actions, values, methods, measures and principles.) 

He said, "If during the course of your work as a Solicitor, your integrity is at risk, walk away with it intact".

Wise words don't you think?

 Spam post or abuse? Please let us know

Absolutely Fibby, ther is something call "personal pride and integrity" which is more valuable than moeny!

 Spam post or abuse? Please let us know

how can two firms have the same lawyers? andenca, those are strong accusations.if you have checked lawbird's site, i believe you've stumbled across their "about" page which shows videos and papers in which they've been featured. a rather impressive track record! your accusations of lack of independence are hard to believe. what do you have to say about this?

maria, can I have your comments too? is this what you were trying to tell us? you can pm me if you wish

 Spam post or abuse? Please let us know

Do you work for them or just enjoy stirring discussion which doesn't get anywhere?

 Spam post or abuse? Please let us know