Die Risikoabsicherung des Verbrauchers durch Bürgschaft beim Erwerb vom Bauträger

The purchase and construction of one’s own home is often an individual’s greatest financial adventure. When purchasing from a property developer, buyers frequently obtain a personal security from a bank as an insurance against the possible insolvency of the property developer. The author takes an in-depth look at the different issues buyers can be confronted with during such an endeavour. The German jurisdiction and literature are both at strife whether the warranting bank must also pay for constructional defects or for the reimbursement of advance payments. The former is very often the greatest insolvency-related problem for the buyer. The author concludes in favour of the consumer: the warranting bank can also be held liable for claims like this.