Lost Deposit & Developer Gone Bust?

By on September 27th, 2016

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There have been instances of people who when looking to live the dream of purchasing a home in Spain, were duped into paying a large deposit to secure the purchase of properties. ‘Duped’ I am advised by our legal friends this is a bit strong, but how else can you word it. You, along with thousands of others, committed in good faith to purchase but were then failed various entities:

  • Unscrupulous agents,
  • Insolvent and often inept developers, and
  • Banks and Caja’s.

So What’s Changed?

Now after years of hurt and after extensive efforts by tenacious firms of Spanish lawyers, hope and help is here. Yes, there have been victories along the way in the quest to secure these refunded deposits, but finally in December 2015, the Supreme Court in Madrid confirmed the findings of cases and so this case became Case Law.

Vitally it was decreed that any Deposit paid in such schemes should have been securely held by that particular financial institution until the developments were satisfactorily completed and fit for transfer as per the contract. Interest and some ancillary costs are also recoverable.

What Do I Need?

So if you have, proof of payment of your deposit and the contract for purchase we will able to help and secure your deposit plus interest and costs.

What Happens Next?

This is not like PPI claims and involves the appointment of one of our team of Spanish solicitors serving a Writ on the relevant Banks. As with anything in this line of work you need a team who knows what they are doing and who can act swiftly.

We at EU Property Solutions have secured the services of strong teams to stand up to the Banks and recover what is rightly yours. Along with our team of solicitors, we are acting on over 100 cases now and it is essential you use a team fully conversant with the process and this particular element of statute.

We all have had (usually bad) experiences of foreign legal teams and we are mindful of that. With that in mind we have employed and will appoint for you the foremost solicitors in this field.

How Much Can I Get Back?

If you paid a deposit for a property you were never ever able to take possession, we can help you recover that money. See our online calculator at www.eupropertysolutions.com/deposit-reclaims-enquiry/ were a representative figure can be calculated to estimate your possible refund.

Too good to be true? To prove our confidence apart from the filing fee and the cost of preparing a Power of Attorney, we and of associates will work on a No win No Fee basis in this.

Call Karen on 0330 124 1230 today or email: [email protected]/dev

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