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When investing in a new development, Fuster & Associates guarantees safety.
A bank must refund 38,500 euros to buyers of a failed urbanization project in Moratalla.
CaixaBank, guarantor of the developer in bankruptcy proceedings.
Progofer Quality S.L., must return more than 38,500 euros to several buyers who invested money for the urbanization which was developed in 2007 in El Balcón de Moratalla, but was never completed.
The Court proceeding was started by our lawyer José Ignacio Sánchez Villa.
The Court confirms the obligation of the financial institution to respond to customers for the violation of the developer, who did not have a building license.
This is established by two rulings of the courts of First Instance of Murcia -now confirmed by the High Court-, which esteemed the claim presented by our own lawyer, José Ignacio Sánchez Villa. These buyers demanded from the bank the money they anticipated, between November 2007 and May 2008, for the purchase of their future homes, which were never built. The court is investigating whether an alleged scam is found behind this failed project.
As stated in the rulings, the entity argued that the amounts paid were not advances of the purchase price but rather penitential deposits. The Court, in its process, also considers the existence of the violation by the developer to be proven since, it emphasizes, the urbanization was never built and the general secretary of the Moratalla City Council confirmed that there was no application for the mandatory license.
If you find yourself in this situation and want to know if you can recover your money, contact our lawyer and we will study your case without obligation.
Buying off-plan involves greater risks than buying a key ready property.
Firstly, because the buyers must pay large amounts of money in advance, there might be delays in completion and even breach of contract.
For this reason, and to avoid risks, we advise you to take appropriate advice if you are thinking of buying a property off-plan and seek support from a lawyer experienced in off-plan purchases.
At Fuster & Associates we check the legality of the developer and their experience, check the ownership of the land, review the contract, verify the building permit, make payments through the special account, bank guarantees and ensure that all the legal work is done rigorously to reduce potential risks for the purchase of your home in Spain.
If you are interested in buying a house off plan, we will be glad to explain how we work to protect your investment.