Reply To: Are Bank Guarantees worth the paper they’re written on?



“i hate this idea that just because a system has always worked in a corrupt way, that we should sort of accept it as being ‘Spain'”
But assuming they changed the laws tomorrow, lawyers and accountants would be working ways around as they know there is a market out there who are waiting to sign up.
A comparable being a change in the tax law in UK. Immediately it is announced, accountants are working to work around for legal tax evasion purposes.

It’s just wrong whereever it is”
Agreed, if illegal, if the party is working within the law, despite if we agree with it or not, they have the upper hand and if judges make a ruling, it is probably based on the law of the land at the time, despite us saying no, it is wrong.
We may believe it to be wrong, but as in any country, there are many who work to the limits of the legal tightrope.
Some of the reason why despite owning a couple of properties, I would never have or will consider buying off plan.
The saying “if it is too good to be true…….” comes to mind.

“Anyone else reading this that thinks we asked for it”
I for one don’t believe that many, if any “asked for it”, but still maintain that for whatever the reason, maybe greed, maybe a must have, contributed to their own downfall by being too eager to sign up for such a large sum, in a foreign country, where they may not know the legal system or speak the language.

“most people thought recommended lawyers were to be trusted”
But recommended by who, the seller or their agent?

It is just like someon going to Japan to buy a car, not speaking the language and being shown the plans of a new model to be available in 2 years time, then asked to part with 30,000 without even knowing the financial background of who they are giving their money to.

5 years ago, perhaps “the agent/lawyer/developer scam thing” wasn’t so common knowledge, but all the more reason that extra care was needed.
Remember, despit the media reporting on things now, people are still going to promotional exhibitions, still going on the 3/4 day inspection trips and still signing on the dotted line. Maybe not so much in Spain now, but Bulgaria, Cyprus, etc., are attracting buyers, and similar problems exist there.