Unfinished Spanish Development – Options Available

By on October 11th, 2016

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WHAT IS AN UNFINISHED SPANISH DEVELOPMENT – OPTIONS AVAILABLE

It may appear we are ‘raking over old coals’, but never has this subject of Unfinished Developments in Spain been more relevant.

There are very many horror stories from the early 2000’s of many committing to buying off plan Spanish developments. This article does not look at questioning in any way the wrong decisions taken back then. Instead we explain what you can do about your Spanish property issue. As we are all aware whom are to blame:

  • Unscrupulous Agents
  • Now non-existent developers
  • Banks exercising unethical lending procedures

What is an Unfinished Spanish Development?

Again, this subject matter may be obvious but Unfinished Spanish Developments range from; not even a shovel in the ground and a vacant site to a partially and seemingly habitable unit within a development. Including those which are habitable but have not been signed off by building control.

So if this issue is something which you are experiencing, worry no more. There is a good chance your purchase is deemed as ‘unfinished’ and you could be entitled to a refund on your payment.

Why am I entitled to a refund?

After a recent finding in the Supreme Court in Madrid, anyone who paid for and/or were involved in “Off Plan” developments are entitled to recover from the Developer’s then Bankers, full recompense plus interest and some costs. This is a historic decision and goes some way to right a terrible wrong doing by the various parties referred to above, Agents, Developers etc.

What does this entail?

This does come with a massive Caveat in that to recover your seemingly lost deposit, you must start Court Proceedings. But let us make it clear, you only have one chance of recovery here. We can help those caught in this position.

EU Property Solutions fully understands that those caught in this position have had their trust abused and with that in mind we recover what is rightly yours.

We can help you by:

  1. Having developed a team of professionals from our offices in Spain, Leeds and Belfast. It is essential you use professionals who know what they are doing here.
  2. Our teams under our direction will ensure you receive the best possible representation. There are many ‘legal eagles’ in Spain who purport to know everything. You do not want or need such a Notary. Remember you only have one chance at this. This cannot in anyway be underestimated. We are already hearing of Notaries unfortunately incapable of this work and who are scuppering entirely cases for clients.
  3. Our team have concluded many deposit recovery cases already and indeed have been at forefront of this work before the ruling was filed.
  4. Having helped ‘100’s of people across Europe with property debt issues, we fight against any financial institution deemed to be responsible for your hard earned cash and recover your seemingly lost as a deposit.
  5. Finally, we will undertake this work on a NO WIN NO FEE basis (subject to a small Court filing fee). That is how confident we are.

What should I do next?

So, if you have any issues with Unfinished Developments in Spain call Karen immediately on 0330 124 1230.

This piece of Case Law has yet to pass to other EU countries but watch this space!

Many Thanks

James Bell

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