bank guaruntee

Dear Andenca:

Without refering to any Law Firm specifically, in order to respect EOS forum rules... do not feel you are not right. You are very right.

Regarding " a primer requerimiento" Bank Guarantees.. I would have to see the wording of the Bank Guarantee, as if it is issued for the reasons of Law 57/68, any clause against the letter of that Law is null and void.. so it might be that those difficulties for the cashing can ve overcomed through a good legal defense.

Again.. Judges are over Banks.

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Andenca - you are absolutely correct in your comments.
 I speak from personal experience having purchased off plan a few years ago from a developer ( Interlaken) that reccommended us to  " Lawyers of Spain" . The rest is history - a lesson learnt. as you rightly say conflict of interest. Unfortunately they did not show any interest in fighting our corners and if anything pressurised us and other clients into completions that we were certainly not happy with.

Additionally why have they not replied to Maria's reasonable question.

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It is absolutely right many lawyers (in house lawyers or very recommended lawyers (....), I do know well the ones from Palmera Properties and I have to say they do not love me... as you can imagine...), I said, many lawyers did not inform and advice about bank guarantees, abusing clauses in the contracts and irregular circumstances in the purchasing.

And they should have done it, informing, advicing, assisting and warning  about dark points and missing info or paper, it is clear. But do not forget that during a lot of years some purchasers wanted to buy with such a great price (to retire, to live, to rent or to re-sell) and maybe clauses were not the first matter to take care of, that is not my affirmation, that is what some of them have told me. 

I say that because, in my case, and not only regarding Palmera´s clients, I mean in general, 99 % of the buyers signed contracts without (any kind of) lawyer advice, and of course, withouth my advice, they reach me many years after the signing and payment. In that moment, it is possible to ask for the right bank guarantee and other documents and info to the developer, but it is impossible then not to sign and not to pay, because everything has been made yet, indeed, in most of the cases, the buyer has already paid the VAT over a mortgage which he is not in yet. In some ways, it is late to do some managements, do not forget it. 

Patricia Morales Sevillano
Lawyer

http://pmsabogada.blogspot.com










This message was last edited by pmsabogada on 9/29/2008.

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This is the response from the agent when i asked for the BG ....

The document i sent is a bank guarantee for the whole of phase 1 (all of the apartments).  The individual apartments do not have seperate bank guarantee's its just one for the whole phase.  The bank guarantee will become void now anyway as the apartments are actually built and will have their Licence of First Occupation shortly.

But a friend on a recent visit said that my apartment is still only a shell ??

Is there anything i can do ?

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The real state agent does not know where he is sitting. You need your particular and personal bank guarantee, with your personal, your house and your price payment details, the document over the whole promotion is like nothing in your personal case. 

Apart from that, the personal bank guarantee will not be needed only once the first occupancy license is granted and the house is handed over to you by the developer.

You must request the developer for the right bank guarantee (apart from the building license of the works, land registry details of the house, planning of the house and the whole site...); as an additional recommendation, I would not talk to the agent for the rest of my life. 

Regards, 

Patricia Morales Sevillano
Lawyer

http://pmsabogada.blogspot.com

This message was last edited by pmsabogada on 9/29/2008.

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I was told exactly the same by the Palmera Property Agents. I never even got a reply from their nominated Lawyer, ** EDITED - Against forum rules **, ever. In my opinion she is a crooked, cheating, undignified, dishonest excuse for a Lawyer. I hope she goes down with the rest of them.

This message was last edited by EOS Team on 15/09/2011.

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You should receive a Bank Guarantee (AVAL) with every stage payment made. It should be personal to the buyer, with full name, passport number, development and plot number. Also the amount of money (paid, ) written , that is guaranteed.  The document that Indigo1 is describing is a "general" guarantee and is useless  and should not be accepted by any decent Lawyer.

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