As years pass and the observation and interpretation of events can be more and more objective, I still think Financial Systems, lack of control.. not just in Spain but also in Europe and the whole occidental side of the world made the mess. It is simple and clear.
Many other actors danced at that party but.... there were clear promoters, organisers and benefitted.
Answering today in the forums:
Josey:
Asking you below in bold green (same text as your message):
So, just to be clear on this, if as a purchaser of an Off Plan Property in Spain and even if the property was eventually built and FOL granted but you never completed the purchase, you could still make a claim against the original Lawyer if they failed to collect any bank guarantees for your deposits??? No, you cannot, you need to prove an effective damage arising from the fact of lack of Bank Guarantee. and especially when you have written copy from the original lawyer at the start of the buying process, clearly stating that they would collect all bank guarantees realting to the purchase.
If this is the case, surely there would be a flood of good lawyers in Spain advertsing a no win no fees policy, to claim against the bad lawyers who misrepresented thousands of buyers over so many years if there is in fact case law realting to this abuse??? or is it like most other things in the Spanish legal system where there is no 100% guarantee of ever getting your money back even when case law exists???
Let me kindly reply to last assertion, for your peace of mind:
Judges are interpreting Law quite correctly, in my opinion in favor of off plan buyers in Spain ( with exception of one particulart region, need to add here).
Supreme Court is being quite fair and brave when interpreting Law 57/68 and, from 1968 Spain has a Law which protects off plan buyers fiercely when buying off plan. No similar Law known at any other country in the world.
A different matter is the particular ( and generalised, unfortunately, due to aggressive finance policies) of Banks, agents, developers, lawyers.... inmersed in the off plan investment-buying crazy world of those years.
It happened in Spain but there were many foreign interests playing their role. Let me reiterate this opinion. Let´s be honest and truthful to oursleves. It is the only way to avoid same mistakes in the future.
Case Law protecting these buyers is now highly reinforced, this Law Firm, has deccisively contributed to that. ;)
With all respect always... willing to listed to opinions after all these years.
Genalguacil, Málaga, South eastern Spain, at facebook.com