Houses

Member since 05 November 2017

Micky blueActive member01 December 2017 19:09:21

Hi all
Please could someone explain to me. I put a deposit of 3.000 pound on a house in Doña Pepa our contracted date was end December we kindly asked could we move the contract date 4 weeks extra as we are just waiting for the money to go in from the sale of our house. They said that’s ok but I would have to pay 9100 on top of my 3.000 deposit to secure it !!! This surely isn’t correct is it ???? I mean I don’t own the house so why would I pay the 10% tax amount up on the house I don’t own yet

Johncar Spain Expert

Member since 25 November 2013

JohncarSpain Expert02 December 2017 07:07:07

1412

Hi, you do not say if the deposit was for rental or purchase

Assuming the latter:

To the best of my knowledge:

In Spain the completion date agreed in the compraventa (sale/purchase agreement) is legally binding, although both parties can agree to a variation, however, if one side does not agree to do so, then the transaction must go ahead.

If that means the seller will not / cannot complete then the deposit paid, and an equal amount, must to paid to the buyer. If it is the buyer who cannot/will not complete, they forfeit their deposit.

John
(Expat.com expert)