02 Jul 2008 6:37 PM:

Building is completed but the LFO has not been granted yet. They think about Septrember 2008 for the LFO to be granted.

Dave

Thread: Do you have a proper BG ?

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02 Jul 2008 7:56 AM:

Thanks for that Maria.

In my case I paid my deposits in 2006 but Taray  never issued the bank guarantees.

My solicitor has just requested from Taray the guarantees to cover the payments I made.

My questions are.

1. How long do I give Taray to produce the guarantees before I ask for deposit back due to breach of the law.

2. If they do produce the guarantee are the still in breach for not producing at the correct time.

Cheers

Dave



Thread: Do you have a proper BG ?

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01 Jul 2008 9:43 AM:

Hi Maria

I have made a couple of posts on another blog titled "Do you have a proper BG"

Spanish Solicitor does not seem to share your enthuiasm for getting money back because of lack of BG.

I would appreciate your comments because I really want to get my deposit back off the builder not neccessarily because of the BG but because he is not putting in the facilities he promised, but thats another issue. If I could use the lack of BG to get my money back  that would be great.

I have made 2 stage payments on 15/7/6 and 15/9/6 and received no bank guarantees for either payment. I have paid in total 76184 euros.

Completion was due to be 30/3/8 but because of lack of LFO I have not completed. 

I would appreciate any comments you have.

Thanks 

Dave

Thread: no Bank Guarantee=refund

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30 Jun 2008 9:57 PM:

I have a section in my contract that says

Amounts Already Dispursed
In order to guarantee all amounts already disbursed by the Purchaser towards the purchase price, TARAY, S.A.U. shall set up a line of bank guarantees with the bank the company may think fit.

It is my understanding that all off plan builds should by law 57/68 be issued with a BG.

Failure of the developer to issue such guarantees after each stage payment means the vendor can cancel the contract and get all monies plus interest refunded.

Can you confirm.

Cheers

Dave


Thread: Do you have a proper BG ?

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30 Jun 2008 7:16 PM:

Hi

When I purchased off plan 2 yrs ago I was told by my solicitor that we had a bank guarantee.

I purchased at San Cayetano and the builder is Taray.

I am now having a lot of problems and asked my solicitor for a copy of the bank guarantee. She said they had not got one.

When they asked Taray for a copy they have not produced.

Does this mean I have no guarantee? and is the builder in breach of contract for not producing it.

Any help appreciated.

Dave

Thread: Do you have a proper BG ?

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