Over the last few years, the number of undelivered homes has grown substantially as a result of the real estate crisis. In fact, recently we wrote a post analyzing this situation in detail with some of the promoters who broke without giving the homes to their owners.
However, not everyone knows what they can do to recover the money they invested or how they can do it. Therefore, in this post we explain in detail the procedure to follow so that you get your money back. Here we go!
Your money had to be insured
The first thing you should know is that the amounts you anticipated to the developer for your home must be guaranteed by law, either through bank insurance or bank guarantee.
It is one of the obligations of the developer and of the banks. Just as it is to deposit such amounts in a secure and independent bank account. The reason is simple. If the work does not start or does not end within the fixed time limit, the return to the buyer of the anticipated money is secured, plus the corresponding legal interests.
First step: Can I claim my money?
You must know that the simple delay in the delivery of your home does not imply an automatic right of refund. It depends on each case. To ensure the success of the off-property deposit claim we recommend you to attend to the following bullet points:
- Are there clauses allowing you to terminate the contract in case of delay in the delivery? If so, they will make much easier for you to get your money back.
- Delay is justified. If the delay is due to circumstances beyond the developer control you may won’t be able to claim.
- If you knew and tolerated the causes that have caused the delay, it can be difficult to claim your money.
- Depending on the importance of the delay the buyer (you) could no longer be interested in the purchase. In some cases the whole transaction can even be considered a scam.
In view of these indications, we will be able to check whether or not our claim is likely lo success.
Second step: How do I claim my money?
Since the Spanish Supreme Court judgement 733/2015, banks are also forced to refund the money.
It was their duty to open a separated special account properly guaranteed. To get your money back you have to send a written claim to the bank requesting the anticipated amounts.
But don’t worry. You don’t need any previous knowledge to fill the claim if you use legalbono. You can even find the lawyer that suits the best your needs if you want to leave this matter to legal experts.
Last step: Start now!
Now that you know everything you need, you’re closer to getting your money back. Our last recommendation: hurry up!
- If you signed your contract prior to December 31st, 2015 you have a maximum time limit of October 2020.
- If you signed your contract from 2016, you must give yourself even more haste! The deadline in these cases is only two years.
So, if you know someone in this situation, share this information with him before it’s too late. You’ll be appreciated 😉