lic

Hi,
Can anyone provide any information regarding my below query.
I had agreed a sale on my house here in Spain in October 2016. The agent took a deposit and created a purchase contract that expired in December. The house sale has not gone through. My solicitor has notified me of 3 appointments with the Notary so far this month. Every time he calls to collect us to take us to the Notary we are told it will not be today, it will be in 2 days time. I'm obviously very nervous now, as I don't want to lose the sale. The delay is being blamed on the other parties solicitor. Who today should have sent the money from Santander bank Spain to my spainish sabadell account. I'm told he has sent the money by bank transfer and that it should arrive within 4 hours. It has not arrived and I doubt it will.
Although the purchase contract has expired. My solicitor has told me I cannot end the sale withou him giving the other party 10 working days notice to complete the sale st the notary.
This may sound as if I want to terminate the sale to pocket the buyers deposit of 3000€. I have never received the deposit as the estate agent has kept it. Does anyone know if this 10 day notice rule is correct?
Thanks in advance

snikpoh

My first thoughts are that the estate agent should NOT be holding the deposit - this should be held by your solicitor.

If I were you, I would ask for that money to be transferred to him NOW.

As for the other issues, sorry, I can't help.

Dxf

Hola

If you haven't received the money, then is there a contract? That should be a question for your solicitor

Davexf

Loafing Along

1. Who has the purchase contract ? Your solicitor or the agent ? You have a copy ?
2. What are the terms set out in the contract ?
3. I think your solicitor is being unnecessarily cautious and you should ask him/her to get the money from the agent as the buyer appears to have defaulted on the contract and therefore the deposit is their penalty payment.

lic

Yes I think you are right. But the agent I think is keeping the money as payment. My solicitor is aware that the agent hold the money and although unhappy with that, is happy to let it remain so. He does not trust the agent, but so we are do far down the line he seems happy to wait for the sale to complete. I don't want the deposit I want the sale, but tomorrow will try to apply pressure by stating I will terminate the deal if it does not go through on Wednesday.
Just wondering if anyone has heard of this 10 day notice after the contract, which does not mention it expired. I have a copy of the contract which was drawn up by the estate agent.

lic

I will ask the solicitor about no deposit received, wether the contract is lawful and binding.
The agent calls the deposit a 'holding deposit' and seems to think this is different from a normal deposit.
It's a shame because if the buyers, whom I have not met are genuine, it's unfair to them also, if the delay is not of their making.
I have trusted the agent and my solicitor, if the buyers are honest and trusting people, and their solicitor has slowed the process down I don't want to penalise them for something out of their control
Thanks all the response.

lyric030250

Just my 2c.
My sales in Spain have both gone the same way, and indeed my purchases too.
1. Sale agreed 3,000€ non returnable 'holding deposit' paid. Held by Vendor or his representative.
2. Contracts drawn up and agreed, balance of 10% deposit paid and held by vendor or his representative.
3. At this point if purchaser withdraws all 10% deposit forfeit, if vendor withdraws 10% x 2 repaid to purchaser.
4. Date for Notoria agreed, payment in full and title transferred.

This is my understanding of a normal sale in Spain, and does not seem to be happening according to the OP.

snikpoh

.... and, presumably, the 3000€ holding deposit come OFF the purchase price (as the purchaser should NOT have to pay the agents).

lyric030250

Yes the 3,000€ is part of the 10% deposit.

lic

Hi,
Just thought I'd up date you on my progress.
Firstly, thanks for your replies.
It would seem my solicitor was a liar, or going through some type of mental episode.
I terminated his services. As I was selling I contracted a translator who acted for me at the Notary.
After a 3 1/2 delay at the notary the sale was completed.
So I'm now in the process of moving the money back to England.
Thanks again.

Loafing Along