Reply To: Advance Payments Of IVA

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Yes your name, surname, passport number, apartment to be bought, and the amount that is guaranteed. It should also specify when it expires. It should say it’s been inscribed in a “Registro Especial de Avales” and a number should be right beside it.

For each stage payment you ought to have one bank guarantee.

i.e. you’ve done three stage payments of 20k each, then you ought to have three BGs that cover all three stage payments for a total of 20 k each including your initial deposit. Normally takes between 2-5 months to obtain a BG.

Even If a bank guarantee expires before completion you can always request to renew it.

Yeah well, If the lawyer was recommended by awful estates what can I say…. 🙄 don’t get me wrong, I’m not against REAs it’s just that a few of them really taint the rest.