Thursday 1 May 2008

How To Buy Property In Spain - More Traps to Avoid

As mentioned before, this focus on traps and pitfalls is not intended to put you off. The idea is to ensure you are aware of how to buy property in Spain in the right way so you can enjoy it for life! Lots of people have already done so - but many others have lost everything and wish that somebody had warned them. So here are some more tips:
  • Remember that anybody can set up as an estate agent in Spain. This means that there are lots of unregistered and inexperienced ones around, wanting to take advantage of the property boom. This in turn has led to, at best, mistakes in the purchase process being made and, at worst, would-be buyers being deliberately exploited. Do ask around for an estate agent with a good reputation - find ones recommended by people from your own country who have had a good experience.

  • Make absolutely certain that your lawyer understands the local planning regulations properly and checks them out in exhaustive detail. Even if you are buying an existing property rather than a new build, it is possible that this property was not legally built on that land in the first place. Of course the seller may know this but may be hoping you won't find out before the sale is complete. If the authorities discover this they will demolish the property with no compensation - as many, especially from UK, have discovered to their cost.

  • As mentioned in the previous post, it is crucial to ensure that your lawyer is someone you can trust and someone you can communicate with. (Don't accept a lawyer recommended by the estate agent - find your own.) This becomes especially important when checking title to the property. Many have found when it was too late that they were not in fact legal owners of the property. Again, the authorities can and will evict you without compensation if this is found to be the case. Sometimes people have mistaken the initial permit for the legal title - a good lawyer should never allow this to happen.

More tips on how to buy property in Spain in the next post, and do add your experiences and tips. Plenty of super Spanish properties at http://www.bizwrite.co.uk/realestate/propertyabroad.html - plus help and advice at every stage, including help in avoiding the pitfalls!

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