SPANISH BANKS ARE FORCED TO RETURN ADVANCED PAYMENTS RELATED WITH FAILED BUYING AND SELLING OF OFF-PLAN HOUSES.
The Spanish Courts are forcing finantial entities to return the sums advanced by off-plan house buyers as well as paying the legal costs of the judicial process of those who report.
In fact, hundreds of people have already recovered 100% of the savings they invested in the purchase of their house plus 6% interests.
Salmerón Law Firm is the first law office which has achieved that judges order banks and insurance companies to return buyers’ savings, even when they lacked a guarantee.
During the housing boom, Spain was chosen as the ideal place for investment in housing, not only for Spanish buyers themselves, but also for thousands of foreigners, mainly from United Kingdom, Germany and France, who decided to invest in our country and to use their savings in order to build their house.
Nevertheless, when the housing bubble burst, many property developers and construction companies became insolvent before finishing most of the housing developments which were already sold. Therefore, Real State developers and construction companies have no answer for the buyers’ questions.
At best, there is a regular breach of contract, delivering the property many years later from the deadlines established . At worst, the house is unfortunately never finished and, consequently, never delivered to the buyer.
And it is at this point when the inversors’ nightmare begins, because they do not only lack their house which was bought with hope and enthusiasm, but also the advanced payments for their housing purchase.
The nightmare becomes insomnia when most buyers discover that banks and insurance companies’ guarantees promised by developers were never handed over.
At the beginning of 2014, Salmerón Law Firm, managed by the lawyer Fernando Salmerón, gets the first judgement in Spain by which a judge condemns a finantial entity, Banco Santander in this case, not only to return sums advanced by two off-plan house buyers to whom their properties were never handed over and who lacked a bank guarantee, but also to pay 6% interests plus legal costs of the judicial process.
After the achievement of this historic judgement, Salmerón Law Firm has succeeded 100% of cases brought to Courts, ensuring many other banks to return the money to off-plan house investors, independently of: bank or insurance guarantee, the completion of the construction of the property, and the delivery date of the house even if it is distant from the one specified in the contract.
If you bought a house in Spain and you think you have lost your money, do not hesitate to contact us , via our email email@example.com or via our telephone number +34. 954. 53.60.38. Just send us the contract you signed, and by providing it, together with your guarantee, we will study your case and will tell you our legal opinion about your situation.