BUILDERS HAVE WALKED! WHAT CAN WE DO?
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We heard all the bad tales and thought it would never happen to us and it just has!!A brief outline,not to bore you- We purchased through Euro anglo sur. 13 properties to be built around a communal pool. nearly completed ,builder allows us in even though we still have one last amount to pay on completion of pool. we furnish property and enjoy two years of holidaying there knowing it will soon be ours. Then work stops in june 2008. builders apparently fall out with bank and townhall. we heard this was to do with infill land wrongly sold to builder by townhall , bank gave builders loan to build there , now want money back . builders blame townhall etc etc etc. we have no deeds, nothing!! we still come and go , paying nothing for electricity or water, and advice from our solicitor in spain? enjoy it while its free, it could take seven years to sort out!!! any advise for us out there? only three properties have been sold out of thirteen and now one has left suing builder, that leaves two. are we mad sitting back doing nothing in the mean time? we are rather green on these matters..... HELP!!
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adrienne
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Bank Guarantees?
What is financing Bank saying?
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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wont be in contact with la caixa until we next go out in feb. so cant answer that , im not too hopeful on that one.
This message was last edited by adrienne89 on 1/13/2009.
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adrienne
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Legal tip 166. No Bank Guarantee?: action against the Bank
20 October 2009 @ 08:41
New action against the Bank in case of lack of Guarantees of Law 57/68
I had had a legal instinct for this since I started working in this type of cases , and have been trying to see, and to see, and to see and I finally saw:
If the Promoter opened a special account where they deposited the amount of your purchase off plan and the Bank did not give bank guarantees or checked out that those guarantees ( also possible through Insurance contract) existed,THE BANK IS RESPONSIBLE in accordance to provision 1.2 of said Act for the devolution of handed amounts plus legal interests if the works are not started or completed on time.
A great solution for many purchasers who lacks Bank Guarantee and a way to start building up a more risponsable financial system! It is about time to this.
www.costaluzlawyers.es
Madrid, November by Martius at Flickr.com
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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