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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 608. Buyers and developers united vs banks
04 October 2011 @ 13:04

As an answer to this thread of the forum:

As soon as claims against the Banks finally consolidate, they will not be in that dominant position within the real estate industry in Spain anymore and life will get back.

- Claims by individual buyers: enforcing Bank Guarantees, effecting general Guarantees and using provision 1segundo of Law 57/68

- Claims by developers: on  Bank´s breaches of financial agreements between them two.

 The expected formula for claims: buyers and developers togethers vs Banks is being the perfect mixture for advancing on Market balancing.

 

We are helping developers in our mission to help buyers and try to organise a more balanced market. It is being a huge effort! At the end of the day, both developers and buyers, were victims of the voracity of finantial institutions during the boom years.

anticipation: ronda, lauria - before feria

"Anticipation: ronda, lauria - before feria", Ronda - Malaga, Spain, by Sean Wallis, at flickr.com



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