Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Are Bank Guarantees worth the paper they’re written on? › Reply To: Are Bank Guarantees worth the paper they’re written on?
Hi all , Goodstich44 our situation sounds similar to yours our builders in breach of contract on several grounds as well. So our case soon to go to court as well. Have to think positive or Id crack up. I think we did everything right and we trusted our solicitor, agent and builders and believed what they told us , why should we not, it was our first experience and dealings in Spain and having a legal representative etc we felt satisfied with things. It wasn’t till the final payment was due that it came to light that site had no licences etc, then our solicitor said don’t pay last payment as the paper work is not in place and correct , since then the saga has gone on and on , it wasn’t for the trying to get bank guarantees I can tell you . I just feel let down by the professionals we trusted. Would I buy off plan again NO knowing what I know now from forums like these things would be done so differently.
Lets hope there is some light and good news for all the people caught up in the illegal builds fiasco . If the Junta don’t get a grip and sort out this mess things will go from bad to worse.