Bying property in Spain – how to avoid the pitfalls

Sales of properties are currently only a fraction of what was the case a few years ago. However, this break may be over before you know it. Will the market in balance, ie the buyer and seller are the same market , sales will increase again . There are many pitfalls, and here are some tips to avoid some of them.

Anyone is able to start as real estate in Spain. This has led to some rogue elements in the industry, but many of these have disappeared as a result of the credit crisis. But one should be aware that the science of legislation is not necessarily the same as back home. When there is money involved , you should take extra care .

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1 Take advantage of a brokerage firm that has been around a few years. The rogue is usually mayflies . Closing Agent door, right after you have paid own money , you might not see any more of them .

2 Can you afford to buy a house , you should also treat yourself to an independent lawyer. Many brokers have their own lawyers, but we recommend that you obtain your own, which ensures that all translations are correct.

3 Please note that it is abrupt in many projects. If you buy a home in a half-finished project , it can take years before you can use it. Buy why a home that is demonstrably ready to move . Be at all skeptical about buying a new property from a developer , especially if the branches are characterized by being temporary . But the big builders have gone over the past few months. It does not help with 10 year warranty when the developer is gone.

4 Drooling you a dream home near the ocean , be aware of coastal law ” Ley de Costas ” from 1988. You need to check and get an official guarantee that this property can not be expropriated by the government .

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5 Also note expropriation law LUV . Are you interested in a fi NCA or a property in an unregulated area ( rustica ), get a guarantee that you will not fall into the trap , where a developer can take from you your plot , or as the authorities have planned to build a road or anything else that might pertain to your property . You buy the safest in regulated residential areas where the infrastructure is public.

6 Insist on printing zoning for the area you want to buy houses. It is not enough to see the papers on municipal technical department . Most people will have problems with legal Spanish, and besides, no oral statement worth anything in a conflict. Take also a valuation of the property, they may lack the avstedskomme . It will cost you 3000-4000 dollars, but it could be money well spent .

7 Be absolutely sure before hand pays money, which will unlock the trade. Opt for you because you repent , your money , usually 10 percent of the purchase price , will be lost. Due to an annulled commerce merchant, you are entitled to your own money back plus twice , usually 20 percent of the purchase price . Please note that some merchants may speculate that you will retire , to keep the hand money.

8 Remember that debt follows the property and not the seller . Unpaid taxes will have to take over , if not taken that these are settled on the settlement date. Require to get all receipts and guarantee that no booklets loan on the property .

As you can see, there is much to fit in, and you can never be too careful. This article is not meant to scare you from buying . There are many homes to choose from and the prices are lower than ever .

Best of luck .




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