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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 532. They will buy again in Spain if....
18 May 2011 @ 22:30

 ....they are refunded of their disasterous off-plan purchases of the Crazy Boom Years..

We recently sent an email to all our clients, announcing to them we are firmly endeavoring to conveyancing and asking if they bought in Spain again. And that is what the majority said: yes, we will once we receive our failed deposits back.

And I can understand.

They need to feel they have been compensated. Therefore even when prices now would allow them to think that they have lost nothing ( as the market itself has gone down and prices are half of what they were), they want to see their rights being respected.

I wonder why Banks do not realise this and offer their properties to them..... Those same banks which did not protect their deposits and have thousands and thousands of properties on stock.

It is so simple.

"Golf Club La Alcaidesa", by Luis López-Cortijo

 



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3 Comments


Sandra said:
19 May 2011 @ 01:56

Why??
Greed, Stubborness, Blinkered,Out of Touch,Denial,,,,,,,,take your pick.
I will not buy in Spain until every penny that is rightfully mine is repaid. I also want all my legal fees repaid plus six years interest and now, because they have put me through hell, I also want compensation for the disruption and adverse effect the whole affair has had on my health and retirement years.

Then; when they have shown that the Spanish systems for conveyancing law, consumer protection, and contractual law are providing fair and speedy solutions ; and when the banks are honouring their obligations under law 57/1968; and when the 'land grab' ,demolitions and coastal law problems are problems no more, and when the Priors are rightly compensated, and only then will I consider buying again.
And quite frankly I cannot see those things changingin my lifetime.


redman said:
27 May 2011 @ 00:02

The government and the banks should pay every penny back to the purchasers then persue the debt and assets of all the developers. Doing this would bring massive amounts of confidence back to the Spanish market and their economy would again boom, it's an economic no brainer.

Unfortunately the system is corrupt to the core, including agents, developers, banks, legals and goverment,

I just wish they would uphold their own law.


Maria said:
27 May 2011 @ 10:04

There is a citizenship movement called " Democracia Real Ya", inspired by Hessel´s Time for Outrage. Why do not you contact them with these proposals?

Kindest,

María


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