Reply To: Buying apartment off-plan

#239351
spanishlawyer
Participant

Hi Paul.

As you probably know there are a thousand of horrendous stories about dodgy developers in Spain.
You should check whether:
• The plot belongs to the developer.
• There is building permit.

Probably you signed a reservation contract without checking that the building matches both the licence granted by the town council and the project it approved.

Before any document is signed you must apply for a certificate from the Spanish Companies Registry accrediting the legal existence of the developer’s company, details of its registration, confirmation that bankruptcy proceedings have not been registered, and a declaration that there are no claims, lawsuits or any other contingencies that might affect the development.

Have you got a bank guarantee to secure your future deposits and to protect your investment in case your property is not delivered on time or your developer file for bankruptcy?

Hope this help