Purchase, reform and sale of flats in Madrid
Update from the originator:
The originator had the documents planned to be signed in the first week of September but the developer had to correct some registration issues and the signature of the documents was delayed. Both parties should sign the documents next week or in the first week of October.
• Pledge of the social participations: the pledge of the social participations is made on behalf of the investors who are going to invest in the project.
• Deposit of the company that owns the promoting company.
• Mortgage promise and irrevocable powers of attorney to constitute a mortgage: the promoter grants investors represented by CIVISLEND a mortgage promise as well as specific powers to constitute a mortgage on each of the farms. A mortgage may be constituted in the event that six months from the purchase in public deed of a property without it being sold.
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From the moment an investor formalizes his participation in a project, he is accepting the risk and profitability of this investment. Loans present the risk of not obtaining the expected return, lack of liquidity, possibility of dilution or even loss of the principal of the loan.
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