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I have an issue with an estate agent and I’m looking for advice

Posted: Wed May 22, 2019 1:33pm
2 replies156 views3 members subscribed
beikunshu

Posts: 8

1 helpful points

Location: Lo Pagan

Joined: 17 Sep 2018

Hi everyone

We were looking to buy an apartment in Lo Pagan for cash through MUNFORT, I paid a 9,000 € reservation fee and the notary date was set for May 6th. Unfortunately one of my cash sources screwed up a money transfer and when I told my lawyer she said we could postpone notary meeting because of 3rd party fault. I told the agent and suggested a new date of May 20th, the agent pushed back but I said 30th was earliest we could get back to Spain. The seller then started to complain to agent and said we had broken agreement. I contacted agent on May 17th to find out what the seller’s position was and was told it hadn’t changed I.e. she didn’t want to deal with us anymore. Based on that information we cancelled our trip to Spain on the 30th as we didn’t wan to waste any more time or money. Now the agent is saying they turned up with the seller’s lawyer and they refuse to give us our 9,000 euros back, our lawyer says we should try and come to a deal with the agent. The whole thing feels dodgy to me and I suspect the agent is responsible for confusion but as I said they are holding our money. Does anyone have any advice or have been in a similar situation?

Chris

Kalli

Posted: Wed May 22, 2019 4:26pm

Kalli

Helpful member

Posts: 300

240 helpful points

Location: Cehegín

Joined: 6 Sep 2018

Posted: Wed May 22, 2019 4:26pm

This is a link from Jim's Guides accessed from the RHS of this page:

http://www.registradores.org/wp-content/uploads/2015/10/Guide-AIPP-RICS-RDE.pdf  

The relevant sections start on page 20  Buying the property.

It appears that if only a reservation agreement has been signed, you may get your deposit back under certain circumstances. Your lawyer will be able to tell you if it is possible. Once the preliminary sales contract has been signed, the buyer will forfeit their deposit if they break the contract, the seller will have to repay the deposit doubled if they break it.

It sounds as if your seller considers that you have broken the agreement and that therefore she is entitled to keep your deposit. From the information you have given, I'm sorry but it sounds as if she may have the right of it.

The following is just my personal opinion and what I would probably consider in the same circumstances:  Do you have the money for the property available immediately? Can you fly to Spain at very short notice even if only for a day or two? If yes and there are no other potential buyers in the picture, can you find another couple of thousand Euros as a sweetener? Then approach your lawyer and see if she can negotiate directly with the seller's lawyer with an increased offer and an early completion. The seller may have had a change of heart but be reluctant to make the first move. I wish you all the luck in the world.

beikunshu

Posted: Thu May 23, 2019 4:43pm

beikunshu

Original Poster

Posts: 8

1 helpful points

Location: Lo Pagan

Joined: 17 Sep 2018

Posted: Thu May 23, 2019 4:43pm

Thanks for the response, I signed the reservation document but not the preliminary sales contract so there may be hope for me yet

Thanks again

Chris

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