First the verbal approval. Then the valuer. Then the withdrawal.
A buyer had his bank's verbal approval, and the valuer had already visited the site. Then the bank pulled back: it would have to wait for the completion inspection.
Information
The sequence is deceptive because it looks like progress. The bank gives verbal approval. It sends a valuer for an assessment. The buyer assumes it's going ahead — and by this point has long since signed and paid the reservation deposit.
Then comes the withdrawal: financing can only proceed once the building has been signed off. Formally, that's not wrong — before the completion inspection there's no security capable of registration, and without the Licencia de Primera Ocupación, neither the notarial deed nor the handover can go ahead. But that explanation doesn't help the buyer: his instalments are due, his money is committed, and the purchase is at risk.
This is exactly the point at which clients regularly come to us — this case reached us on 14 July 2026. We will arrange the financing for him. The path is the same as in the other cases: the buyer contributes his equity, its amount set by the tasación; after that, the bank pays every developer instalment in full as it falls due — directly to the developer, as the building progresses.
What this case teaches: a verbal approval isn't financing. And a valuer's visit is no proof that the bank can actually service the construction phase at all. Anyone who has the developer's payment schedule checked before signing spares themselves this moment.
Case status: in progress (as of 14.07.2026)
Anonymised case report from our own brokerage practice. Property details, amounts and personal information have been omitted or altered to protect our clients. Every financing case is assessed individually; no claim to an identical outcome follows from any single case.
The structure behind it
Of the 15 to 20 institutions we approach per case, one pays the developer instalments before the building has been signed off (Perini market check, as of 14.07.2026). This is exactly where new-build purchases by non-residents fail — not on creditworthiness, but on the documentation required upfront.