Solicitor or Broker

[tertim]

Has any one used a solicitor to act as stakeholder when buying a boat. I am about to buy a boat in Spain and I am a bit nervous about handing over large amounts of cash to the broker!!

Tertim

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[Observer]

I can't advise you on Spanish law and any comments I make on options in UK would not be helpful. I do think you are wise to question what you are about to do and look to minimise any risks.

I suggest you send a pm to Russell Brenton who you will find on the MoBoChat forum (he started a thread which is still on page 1). He is a yachtbroker in Mallorca and may well be able to give you unbiased advice on how things are done in Spain and how you can protect your cash.

You might ask Russell to put any advice on open forum as it could be helpful to others in similar situation.

Good luck.


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[PeterGibbs]

Highly unlikely a local solicitor will give you any greater security - rules there are different in many respects!

Answer really is - don't do it. If the deal requires more than 5% deposit to secure exclusivity in the negotiations, it is simply uncommercial. Assuming 5% deposit is properly receipted and secured, the remainder is only paid on delivery of the boat, tried, surveyed and tested to your total satisfaction, with faults made good.

If the vendor / broker suggests otherwise, find another deal - there is ALWAYS another deal!

PWG

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[lezgar]

Solicitors are not stateholders in Spain and I will not give money to somebody that I don't know. I worked in the car industry in Spain and the bank was the stateholder of the car documents until the money was paid to the bank against the documents. In Spain there are Notary Public (called "Notarios" in Spanish) and they are used when you want to have a contract public and official (to buy a house for example). I wouldl look for advice in a "Notaria".

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[Forbsie]

Phone Banco Bilbao Vizcaya Argentaria (BBVA) on 020 7623 3060 and ask for Paco or Sonya. They will probably not be the right people to talk to but will pass you on if they have a service that they can offer you. They are an excellent bank and have been a great help to me over the past 10 years or so although not, I hasten to add, in buying a boat.

If it's more convenient to visit or write, they are at 108 Cannon Street, London, EC4N 6EU.

<hr width=100% size=1><A target="_blank" HREF=http://www.arweb.co.uk/argallery/forbsie?&page=1>My Project</A>

 

[colvic]

Spot on, but I would offer the following sugestion re advice, why not try the British Consul for information?


Phil

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