Yes. In many cases it is possible to recover the amounts paid on account of the property, even if the developer has disappeared or is in insolvency proceedings. Spanish legislation allows claims to be brought against the financial institution or insurer involved, or against the bank where the advance payments were deposited.

Spanish law imposes on developers who receive advance payments the obligation to provide a bank guarantee or insurance policy securing the return of those amounts if the development is not completed.

For this reason, claims can be directed against the bank or the insurer.

Furthermore, in many cases where such guarantees were not issued, the bank that received the buyers’ funds in an account opened by the developer may still be held liable.

Yes. The developer must provide a guarantee.

However, not all guarantees are valid, which is why it is essential to have legal advice from a lawyer.

Yes. Even if you do not have a bank guarantee or insurance, in many cases it is still possible to bring a claim directly against the bank where the advance payments were deposited.

This is a very common situation. In such cases, the claim is directed against the bank or insurer responsible for returning the amounts invested, or against the bank where the funds were deposited.

Generally, the following documents will be required:

• Purchase contract

• Proof of payment

• Copy of the guarantee (if available)

• Any communication with the developer or the bank

Yes. It is necessary to verify that all required licences are in place and that there are no legal or planning issues affecting the property, as well as ensuring that the terms of the contract comply with applicable legislation.

In this type of transaction, it is particularly important to confirm that a valid bank guarantee or insurance policy has been issued to secure the return of the advance payments in case the development is not completed.

For all these reasons, it is essential to have specialised legal advice from the outset.

Yes. It is necessary to ensure that the property is free from encumbrances, that it has all the required licences, and that the terms of the public deed correspond to the purchase contract.

In addition, the transaction involves the payment of certain taxes.

If financing is required, it is also important to verify that no abusive conditions are imposed.

Given that this is a significant financial investment, it is essential to have advice from a specialised lawyer.

Yes. For your security and peace of mind, we have a team of professionals specialised in each of the areas involved in any property purchase process.

This allows us to assist you at every stage of the transaction, anticipating potential risks and ensuring maximum protection of your interests.

We also assist clients in recovering the amounts paid in property transactions where the property has not been delivered.

It depends on the specific case. Legal proceedings may take between 12 and 24 months, although in some cases it is possible to reach out-of-court settlements, which can reduce the duration.

Not necessarily. We can represent you through a power of attorney, allowing the entire process to be handled from your country of residence.

The developer cannot unilaterally modify the price agreed in the purchase contract.

It is important to note that many contracts include clauses attempting to foresee such situations. For this reason, one of our key services is the prior review of the purchase contract in order to identify and avoid abusive clauses or potential risks before signing.