create confidence in the market

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This topic contains 6 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 9 years, 10 months ago.

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  • #52569
    Profile photo of Anonymous
    Anonymous
    Participant

    Having read through various subject on the forum, covering dishonesty at all levels etc,

    I would like to sugguest that

    1) There should be no reservation paid before buying .

    2) A two weeks cooling off period been given from the intent day.

    3) After two weeks a percentage is paid ( non refundable at this point ) to a appointed Notary

    4) The preminarly contrat must be signed with the Notary. The documents such as guarantee, building licence etc must be provided at this stage. In the absence of these doucments. The Notary should not Notarise and the refund the deposit paid due to failure of performance by the developers.

    I have recently bought a off plan in France. I had two weeks cooling off period, I did not pay a single € as a deposit, after two weeks I forwarded my contract with my deposit and in the event that I am not offered a mortgage my deposit will be refunded in full. ( No deduction of Bank charges)

    Once my mortgage offer is made. I will be at the Notary for the contract to be legalised and later once again after completion.

    The College of Abagados has to be taken to task for failure of monitoring their profession and not with a pass nada attitide. All the middle class Spaniards with connetions ( Anchufes) who are at the college of Abagados should be shown the door or personally connected to the 220 volts.

  • #68514
    Profile photo of Anonymous
    Anonymous
    Participant

    Nice sentiment, I am sure the Notary will be more than willing to line their wallets further.

    Jim

  • #68525
    Profile photo of Anonymous
    Anonymous
    Participant

    @jiminspain wrote:

    Nice sentiment, I am sure the Notary will be more than willing to line their wallets further.

    Jim

    I am sure we would all be willing to line their pockets if it meant that we could be sure the properties we were buying were legal and had the necessary guarantees etc. It would be money well spent, unlike the great wads of cash we throw at bent lawyers who do not bother to check these details because it is beneath their professional dignity to do those kind of checks.

  • #68537
    Profile photo of Anonymous
    Anonymous
    Participant

    But surely Notaries thoughout Spain are allready notarising sales without building licences, permissions, FLO’s etc etc.

    Jim

  • #68543
    Profile photo of Anonymous
    Anonymous
    Participant

    They are, and that’s a big part of the problem. If they were obliged to make these simple checks it would pull the rug out from under the developers who force sales without proper paperwork.
    It would also remove a large part of the responsibility from lawyers who charge vastly inflated fees for doing next to nothing.
    There is too much leeway for lawyers to be influenced by a developer or agent who can put business their way if they comply, and no proper body overseeing the actions of these lawyers. The behaviour of a notary would be far easier to regulate.

  • #68560
    Profile photo of Anonymous
    Anonymous
    Participant

    jiminspain.

    I did not say that Notaries are not there. They appear for its worth at the tail end of things by that time a buyer has probebly paid as much as 30% plus VAT, and has to balance the risk of pulling out or not ?

    After the cooling off period. The prelimanry contract should be notorised with all the documents. (No documents no 5% passes on to the developer)

    If at this point the developer does not have the papers than he must provide them during the course of construction and thus make another appointment with the Notary.

  • #68561
    Profile photo of Anonymous
    Anonymous
    Participant

    jiminspain.

    I did not say that Notaries are not there. They appear for its worth at the tail end of things by that time a buyer has probebly paid as much as 30% plus VAT, and has to balance the risk of pulling out or not ?

    After the cooling off period. The prelimanry contract should be notorised with all the documents. (No documents no 5% passes on to the developer)

    If at this point the developer does not have the papers than he must provide them during the course of construction and thus make another appointment with the Notary.

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