Client Case Studies
The following real life cases illustrate just a few of the common problems on which our clients come to us for help and guidance. The clients names have been changed for confidentiality reasons.
Case Study 1: Mr and Mrs Browne
Mr and Mrs Browne instructed us regarding the purchase of a 3 bedroom apartment in a completed development in Murcia. The developer had convinced Mr and Mrs Browne that independent legal advice was not necessary and in fact a waste of money. Against their better judgement, Mr and Mrs Browne signed a deposit agreement and paid over a non-refundable reservation fee of €6,500.
A week before they were due to exchange Mr and Mrs Browne realised that they were about to commit to paying a further 10% of the property price, equal to €28,000 without any independent legal advice, something they would never have dreamt of doing back in the UK.
Despite the limited time before the exchange date, we were able to check the legality of the development, speak to the local town hall concerning queries over the property’s planning permission and successfully negotiate some essential improvements in the purchase contract without Mr and Mrs Browne having to withdraw from their dream home and lose their €6,500 reservation fee.
Two key improvements that we made to their contract meant that they were not liable to pay Plus Valia tax which should remain the responsibility of the vendor and that the storage area, which had been verbally agreed with the sales agent as being included in the purchase price, was now specifically referenced in the purchase contract. Mr and Mrs Browne were delighted with the outcome and our speedy and clear advice.
For a small legal cost they saved potentially thousands of euros in potential tax costs, they avoided the stress, time and possible litigation costs arguing with the developer after completion as to whether the storage area was included in the purchase price or not, and could buy their dream apartment with the comfort of knowing that it was legally safe to buy and would be safe to sell.
Case Study 2: Mr and Mrs Steltzer
Mr and Mrs Steltzer, a retired couple, had owned their villa on the Costa del Sol for 8 years and had applied for an equity release mortgage to capitalise on the equity in their home. Unfortunately the valuation and survey undertaken by the bank revealed several problems, including the fact that under half of their property was not registered in their name at the Land Registry and consequently not included in the valuation price. In addition, the kitchen extension they had built had not been granted the correct planning permission.
Our clients were unable to raise the finances they needed and came to us to sort out these legal issues. We undertook all the necessary liaising with the local town hall and the land registry and were quickly able to amend the deed and register the correct and up to date details. Because of our prompt and efficient service, Mr and Mrs Steltzer were able to realise the funds they needed with only a minor delay, and went on to instruct us in several other matters.