The latest on La Reserva de Marbella, who do not provide bank guarantees unless the buyer coughs up the premium, is that they are now charging the buyers to cancel the developer’s mortgage and imposing the ´plusvalia´ tax also on the buyer. This practice is considered to be illegal by Consumer Protection regulations but wide contempt of these is displayed by the ´matriarchal´ executive board of La Reserva de Marbella. Not content with this, they ask for 600 Euros to connect water and electricity, which makes us wonder where this money is going to. And if the above extortionate payments are not met they will not grant public deed of conveyance, in other words, complete. The icing on the cake is that they impose you the venue for completion, this time in Málaga, which is again an option the law provides to the buyer.
And if you happen not to be able to proceed with a sale which you bought off plan two years ago, at a very competitive price, the La Reserva de Marbella will have no pity and will try to keep your down payment, even where they will sell the property the next day with a 60.000 Euros increase on top.
