Various rulings oblige the developer to refund its clients stage payments as well as compensate them for moral damages. Company sources assure that many cases are been solved by offering the clients to swap over to other developments.
Marina Polonio Diario Sur
Most larger developers try and offer an alternative property on another development before having to give back the money.
However, should the buyer decide against the alternative and demand the cash back, the refund should be immediate. (assuming they developer has the cash in the bank) If not, then lenghty appeal proceedures are the developers only defence against insolvency.