You could say that about many of the long established developments of Elvira (los Patios for example)
Yes, in the past this situation was quite common, in the heady days of unabated corruption. But now there happens to be full-scale investigations going on.
As has often been said on this forum – times are very different now.
It would seem if you don’t have a bank grantee (expired etc) you are able to get a legal charge on the property.
Doesn’t show much ‘good intent/faith’ on the developer’s part, does it – not fulfilling their legal obligation to provide a Bank Guarantee by law.
Getting a legal charge on your property is more expense, more stress – all to guarantee not losing your own money?
Why should purchasers have to pay more money to safeguard their purchase? The developer’s Bank Guarantee is supposed to do that, but these developers just stick their fingers up at the law.
Personally I think the whole ‘guarantee dilemma’ for purchasers stinks in this regard, and so does the behaviour of the developer in breaking the BG law.
It is allegedly imposable to register a property at the land registry without an LFO as well
It is not impossible Paul, anyone can complete and register their property at the land registry without an LFO.
It is just totally insane to do so.
“I am an optimist Charlie but I’m also reading the signs”.
So are a lot of other people……… 😯