Last October we paid 3,000 Euros to reserve a 500 plot of land on which the developers are to build a 3 bedroom bungalow. We have not yet signed the official contract, as we have not seen sight of the title deeds or building licence. The developer is waiting for the first stage payment. Because there was a change of mayor and administration, the project was frozen, but apparently the development which is over 100 houses, has now been passed with the infrastructure due to start in May.

We are concerned if we don't pay something soon, the developer will sell to someone else at a higher price than agreed with us as the house will be in a prime position near the sea. Is there any kind of insurance policy we can take out to protect any monies that we pay to the developer via the Solicitor if things go wrong?