“They don’t want to give me my money back”

While acknowledging the complexity and controversy surrounding this topic, we aim to emphasize the crucial importance of securing a competent lawyer when engaging in property transactions, whether buying or selling.

SELLING.

For instance, in the case of selling a property, particularly for NON-RESIDENTS, the buyers lawyer may retain a portion of the funds to cover various expenses that invariably arise (e.g., a 3% payment to the Tax Office, “Plusvalía,” outstanding water/electricity bills, etc.).

As the seller, you agree to remit this sum to the buyers lawyer, placing trust in the assurance that the remaining funds will be returned once all payments have been settled. (there usually remains a surplus, albeit small, as the withholdings are typically overestimated).

COMPLETION.

Upon completion of the sale process, with the property duly registered in the new owner’s name and all payments settled (including the often-delayed “Plusvalía”), and no other outstanding considerations (such as declarations for new constructions), it is then time to contact these legal representatives and request the return of your funds.

One might naturally assume that, OF COURSE, they will return the money. Why would the sellers’ lawyers want to keep it? How will they account for it? After all, they are obligated to return it…

Yet, BELIEVE IT OR NOT, there are firms and professionals who FAIL TO RETURN THE FUNDS.

The lawyers who assisted you throughout the sale start sending emails and making phone calls, only to report difficulties in locating the other party. They might say the provided contact details are no longer valid, or that there’s been no response to their correspondence…

Ultimately, after much frustration, you may give up. But this is not right; we must stand against this. We cannot allow these individuals/entities to sully the reputations of those firms who conduct themselves honestly and fulfill their obligations.

HOW CAN I PERSUE THIS? 

If my funds aren’t returned, I certainly have the right to demand them. However, it is advisable to do so with the guidance of my own legal representatives.

Initially, such requests are made amicably, aiming for a mutually agreeable resolution. If this fails to materialize, there are further avenues to explore.

Firstly, I may make a formal request, such as through a certified burofax, which can serve as evidence of notification in the event of a necessary legal appeal.

Should this method prove ineffective and the refund is still not forthcoming, the last recourse would be to initiate legal proceedings, reporting the incident and taking the matter to court.

While non-repayment of funds is the most common scenario, it’s worth noting that there are also cases where your own legal representatives, who aided you throughout the process, DO NOT RETURN YOUR MONEY.

This is disheartening, as the person you entrusted, the one you paid to assist you, and the one to whom you entrusted everything, is now reluctant to release your funds.

Furthermore, in property transactions, the excess withholdings often entail more substantial sums, given the greater number of retentions that need to be made.

DUE DILIGANCE.

Hence, EXERCISE CARE AND SELECT YOUR REPRESENTATION WISELY.

At times, paying less can prove to be more costly in the long run.