Compassion with developers?

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09 Mar 2012 00:00 by mariadecastro Star rating in Algeciras (Cadiz). 8150 posts Send private message

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 http://www.eyeonspain.com/blogs/costaluz/6783/legal-tip-720-compassion-with-developers.aspx

Legal tip 720. Compassion with developers 
05 March 2012 @ 14:51 

 Because the euro created the real estate boom in Spain with overecredit to developers and buyers.... after consumers, it is with developers that is my willing to help. For a reasoned argument about this perspective, please read De Gaulle here

Because all was created by a crazy financial boom.

The formula that is now working fine is that of buyers and developers together against Banks.

 

Olvera. Spain - 08

"Olvera Spain - 08", Olvera, Cadiz, Spain, by Drumsara, at flickr.com



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9 Comments 

Anne said: 
05 March 2012 @ 17:34 

Maria,
Yes of course Banks should be made accountable but it's essential to discriminate between good developers and bad here, and to recognise the whole picture from a purchasers' perspective.
Some developers (with law firms) have been more than happy to turn a blind eye against the malpractices that have affected so many innocent purchasers, for which we are all paying the price. Plus how many developers have set up their own "people" in positions of responsibility within the newly formed communities, only to find that they have abused and continue to abuse their positions, thereby failing to reflect the interests of those whom they are supposed to represent.
What is required now is a far more ethical and regulated approach to the whole real estate industry in Spain if developers wish to regain credibility. And this should run alongside the common fight against the Banks. 
To focus only on one area i.e. the Banks and ignore the need for reform and accountability from within the real estate industry and legal profession/Justice system as a whole, will I fear only delay a positive outcome. 
This is a great opportunity to clean up Spain's act, to establish credible kite marks for agents, developers, lawyers, credible Bar Associations and Law Societies, Banking regulation etc. 
I live in hope! 
 

Maria said: 
06 March 2012 @ 13:43 

Dear Anne:

Yes, a whole set of reforms need to be materialised. I do hope the new government will pay specific attention to the off-plan industry as a whole: banks, developers, estate agents, lawyers...
It has been a crazy time which has made evident many weak and uncovered corners of the practise of many of these actors

Let´s keep the fight for the good of many!

Maria 
 

Anne said: 
06 March 2012 @ 22:24 

Maria,
To your knowledge do the details of "uncovered corners" and their impact on clients and lawyers ever get reported back to the Spanish Government from the “responsible” legal fraternity in Spain, to keep the Government educated of the realities and the need for reform? 
Have these problems been formally logged in writing, and more importantly have workable solutions ever been formally identified by those with specialised legal knowledge? 
Is there are any action group working to effect change from within the Spanish legal fraternity themselves? If not, why not?
Just as one practical example, if developers were made to automatically provide funds as per the first instance ruling to the courts (for safe keeping) at the point of appeal, until such time as a judicial resolution was reached, this would act as an effective disincentive for those developers “playing the system” of delays, thereby preventing any fraudulent asset stripping in the interim. It would also relieve the system of preliminary enforcements which can clog up the already over stretched system. 
Likewise, at the point of appeal resolution, the judiciary could automatically follow through as a matter of course Law 57/68 by reviewing/requesting details relating to any Bank guarantee (generic or individual) made available at that time. This would ensure cases relating to offplan purchase are speedily resolved as was the intention of this BG law from the outset. Banks should not be able to cherry pick when this law is made applicable. This would ensure that consumer protection via existing law 57/68 was enforced at the point of proven developer breach of contract, and would automatically form part of the appeal resolution, saving time and effort by all.


 

Rosemary said: 
07 March 2012 @ 12:58 

Maria, I do not know how you can feel compassion towards developers. They are definitely not the ones who are losing money - we are ( and yourself ) in our case. As you know our experience is that the developer took our money, broke the contract and even after long prolonged court cases will not return our money. It is the developers who took our 40% and from others up to 100%, these deposits alone would pay for the houses to be built. As Anne said there might be some good developers but from this website, the majority are crooks.

I hope you don't feel too compasioniate about the developer in our case ( that you have won) as they do not deserve any compassion. The corrupt developer should be in jail and not free to open new sites only a few miles from our development taking other poor deluded new buyers for their deposits.
If developers and builders are genuine and have been taken advantage of by the banks, why are they set up to take your deposit under one name GM and sign your contract under another name which turns out to be a subsidiary working from a hole in the wall in Murcia. Any mail is then picked up by the parent company in Alicante by the main company GM. I have no sympathy or compassion for developers only for the buyers cheated out of their savings and many many years of worry, frustration and ill health trying to get back what is rightfully theirs. Our Developer ignored any official or legal communication right from the beginning in 2007 and is still ignoring the Courts communication in 2012. Please please don't waste your compassion on Developers as we will never see our money again. 
 

Maria said: 
07 March 2012 @ 13:29 

Rosemary:
Of course Rosemary. Do not worry. You have been the most affected parties.

Looking to things from the broadest angle. A crazy financial overrun, captured every builder who made money capturing every buyer. But, the origin of the problem in the big, whole picture is the financial syatem and specially as De Grauwe explainn in that article, the EURO craziness.

Of course, you buyers are first to rescue and help. 
 

Suzanne said: 
08 March 2012 @ 17:44 

Feel compassion for developers who've paid backhanders to MANY town hall officials for illegal licences?

Feel compassion for developers who've taken out 2nd & 3rd mortgages on property they no longer own?

Feel compassion for developers who have been cosily tucked up in bed with lawyers & banks to very cleverly defraud honest buyers? 

Feel compassion for developers who totally ignore court judgements to pay back deposit monies, and are allowed to do this over & over again with impunity? etc etc etc....

You must be out of your mind.

The 'origin' is NOT 'Euro craziness' but endemic fraud and corruption at the highest levels. 
 

Maria said: 
09 March 2012 @ 09:12 

The whole mess and illegal conducts mainly promoted by the lack of control of Banks.

So, against to whagt it might sem, Banks paid the worse role and made and keep making the higher benefits.Developers were their instruments.

Of course I am not justifying the corrupted behaviours of many developers and some lawyers. Of course not.


 

Keith said: 
09 March 2012 @ 12:28 

The Banks were the 'vehicle' through which most of the illegal activity and corruption took place.

Many developers were only too happy to use this 'vehicle' as a means to carry out their corrupt activities.

I am sorry to say corruption was and still is prevalent in the Spanish real estate sector.

I have no compassion for any developer, agent, bank, town hall, lawyer etc who was/is part of this widespread corruption.

Keith 
 

Maria said: 
09 March 2012 @ 12:51 

Keith:
As always, you have convinced me. Better than that title, I would better use:

Developers: the greedy and silly victims

Or... what would you propose Keith?

Have you all a great weekend.

Maria 
 


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_______________________

Maria L. de Castro, JD, MA

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10 Mar 2012 13:03 by ads Star rating. 1672 posts Send private message

Sorry Maria there is little compassion with developers or Banks for that matter who fail to adhere to existing Spanish Laws or those whose abusive and corrupt practices undermine consumer confidence.

 

,



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11 Mar 2012 11:11 by belucky358 Star rating in North Yorkshire. 181 posts Send private message

Hi

It's that time of the year again..... A PLACE IN THE SUN

For those who wish to show their COMPASSION, in person, to our friendly Spanish developers ..&@!!!$??"£

Free entry ticket for those that might want to go:

Earls Court London on 30th March – 1st April 2012
A Place in the Sun Live | E-Tickets

Cheers ....pass on a few expletives from me !!!!!    

,
 



This message was last edited by belucky358 on 11/03/2012.



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23 Mar 2012 21:14 by Suzie Star rating in England. 155 posts Send private message

Warning issued by British Embassy in Madrid:

'.......Despite the well-known problems facing thousands of past purchasers of property in Spain, the Embassy is aware that there are still property industry representatives who are trying to tempt future buyers with apparently attractive methods to secure their dream homes more quickly or cheaply. Such offers may in fact be very bad value......“You should exercise extreme caution if an estate agent, promoter or lawyer urges you to cut corners to save money or time”, said Embassy property adviser Alex Brown....

The advice comes as thousands of Britons head for the annual ‘A Place in the Sun’ show in London from 30th March until 1st April, aimed at potential purchasers of property abroad. The show’s website www.aplaceinthesun.com/ offers information about legal and tax issues when buying overseas.'

http://ukinspain.fco.gov.uk/en/news/?view=News&id=744587682



This message was last edited by Suzie on 23/03/2012.



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23 Mar 2012 21:53 by maddiemack Star rating in Grantham, Lincolnshi.... 202 posts Send private message

I remember someone on this site a few months ago put forward the best idea I have ever heard for getting the Spanish to actually do something to help all those affected by the corruption in their legal system ie; DON'T BUY PROPERTY IN SPAIN.  Surely this wouldn't be such a problem to anyone wanting to move to Spain either on a permanent basis or for just part of the year...at least for a couple of years or so.  We all know that prices aren't going to rise over the next two years, at least, so it's not as if there will only be bargains to be grabbed now or in the near future.  Also, there really are so many cheap rentals around at the moment and for the next couple of years at least.....it just makes sense to rent from someone who would like to, but can't, sell their Spanish property. As lon,g as we keep buying, I really don't think anything will change. It's as though we're saying, 'I feel sorry for all those people that have lost out but there's really nothing I can do to help'.

This is just my opinion, of course, and I'm sure that others will disagree.  Perhaps, if we make a point of NOT buying property in Spain for a while........the message may just get through that things can't go on as they continue to do...even now, after all the effort that some people have put into trying to get justice.

,

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