Page 17 - A guide to buying a new property in Valencia

A Guide to buying
COMMUNITYOFVALENCIA
new property in the

Buying from a developer?

7.

Many of the problems experienced by buyers are due to the fact that they

have not taken proper legal advice prior to signing the building contract and

effecting the rst stage payment. Laws protecting buyers are in place but

they must be invoked and insisted upon at an early stage for them to have

the effect intended.

Some general points to make in this respect are:

1. Ensure that the plans and building speci cations are agreed in

advance with the builder and that these are attached to the contract and

signed by the parties.

2. By law a bank guarantee or insurance policy should be provided

to ensure that if the developer becomes insolvent prior to delivering the

property it would be possible for buyers to get their money back.

3. The contract should provide that the property would be delivered

only after all the appropriate licenses for occupation have been granted

by the Town Hall.

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