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What guarantees are there from the builder or developer?

April 26, 2017builder Developer guarantees

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What guarantees are there from the builder or developer?

1 Answer

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Bank guarantees or insurance policies should be arranged when paying any monies for a property under construction. There are statutory provisions for the builders to guarantee the payments for the property whilst building is in progress up until it is completed (Spanish Laws L38/1999 & L57/196). After this the property has a gurantee against any building defects for ten years.