25 Oct 2011 12:00 AM:

Hi Maria of Costa Luz Lawyers

I read one of your posts re:

• Disappointed buyers
• Sellers without buyers.

In brief, it would seem that:

• There are people who have made stage payments for properties that will never be fnished or built.
• There are hundreds of empty properties in Spain that do not have buyers.

In an ideal world, if the:

• Town council has agreed to the building of the homes
• Regional council has agreed to the building of the homes
• There is a habitation certificate

Could the buyers be compensated with a legal property of similar value?

Website connecting part-buyers and sellers

If so, could the town councils and regions get together and set up a website where:

• Buyers record what they've paid
• Sellers say which properties they have that are legally built and available
• An insurance policy covers any difficulties?

Ideal world

In an ideal world, it would be easiest if the buyer could be compensated with a property that does have legal status on the same site.

If no property is available, could the buyers be compensated by a legal property of the same value by a different developer who has empty properties?

Insurance policy

If so, is there an insurance policy in place that developers take out to allow this flexibility?

If not, could it be set up?

What are your views on this?

Kind regards

Hoping

 

Thread: Accepting another property in return for payments made

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