Reply To: Spanish Real Estate Bubble bursts



@Ponzi wrote:

I think caveat emptor is always advisable. However I think it is stretching things a little to suggest that buyers in Spain should have approached the market with a working assumption, that the system from top to bottom was riven with corruption and malpractice. I don’t think it was at all naive of buyers to assume that a modern European democracy, with membership of the EU, would not regulate its planning system and the laws governing property transactions effectively. 😕

Excellent post Ponzi. 🙂

This thread appears yet again,to have become an REA v Purchaser scenario.

How easy the EA’s find it to blame cheated buyers in the first place because of stupidity!. It seems to me from Mikes words that it was common knowledge that there were “dodgy” building licences and unscrupulous developers/lawyers around. Pity those EA’s that many of us had dealings with didn’t warn us of that at the time they were happily selling these developments with either illegal licences or none at all. But then they were probably just too distracted ,mentally counting up their commission from the sale they were about to make, to give a stuff.!