What if a client in Spain runs out of financing for the second payment date for a new property? Is the first payment forfeited?

In the event that you pay the first installment for an apartment with a developer, but are unable to pay the second installment, the consequences depend on the terms and conditions set forth in the preliminary agreement or development agreement you signed with the developer. Here are some possible scenarios:

• Loss of funds paid in
• Possibility of renegotiation
• Cancellation of contract
• Loss of right to real estate
• Legal consequences