Owning a piece of sunny Spain is an alluring opportunity for a foreign investor. Buying real estate in the kingdom, you not only make a contribution into the safety of funds, but obtain a comfortable place for relocation. However, buying apartments in Spain with a pool may be associated with making mistakes and certain risks. This is due to lack of knowledge of local realities and poor orientation in the Spanish legislation. To facilitate the procedure of purchase and be aware of all the possible pitfalls, it is necessary to know about issues worth double attention.
Points that need double check before buying property
Buying real estate abroad is always followed by certain risks. Regardless of the fact that the Spanish government provides pleasant conditions for foreign investors, some issues may appear. Here is a list of 5 common issues that require careful checking and extreme attention before signing the contract.
- Identifying the real owner of the property.
- Availability of debts and whether the home association`s fees were paid.
- Technical characteristics of the construction.
- Correspondence of the real footage to what is mentioned in the documents.
- Certificates of all the legal construction of all objects on the land plot.
Let`s have a closer look at each of the significant points
Identifying the real owner of the property
This is the question of first priority. If the developer does not provide the relevant documents or the answers are not understandable, it is better to choose another housing object. Actual information about the ownership of all properties is kept only in the Registry of Property, where you should apply for a certificate with the necessary data. If the transaction is not directly from the seller, it is important to verify that the representative has the authority of the owner, including if the seller is a legal entity, which must have all powers of attorney.
Availability of debts and whether the home association`s fees were paid
In Spain, maintenance fees, utility payments and other taxes are applied to the housing unit. It means that if a previous owner has debts of property maintenance and sells it, the obligation to cover debts is transferred to the new owner. You need to carefully check all the documents from the Land Department to identify the absence of debts. Besides, analyzing the official documents will help to evaluate the future expenses and plan your budget.
Technical characteristics of the construction
If you are shown a certificate that the building has been overhauled, the most competent option would be to invite a specialist – an architect or an experienced builder, to try to detect things that are not visible to the average person, including cracks, mold, moisture in the walls and floor, faulty ventilation, etc. If repairs have been made recently, see if they have tried to hide anything, check the pressure in the pipes, electrical wiring, the condition of the drains.
There are some cases when the seller tries to hide an unpleasant smell or moisture by explaining that nobody has lived there for a long time. Do not believe the words, ask a professional for a qualified expertise.
Correspondence of the real footage to what is mentioned in the documents
The Spanish legislation allows up to 10% difference in real footage and the one mentioned in documents. Still, it is advisable to avoid such cases. First of all, you can pay the wrong amount of tax which is illegal. Secondly, the difference may hide uncertified constructions on the territory or objects built without planning approval.
Certificates of all the legal construction of all objects on the land plot
It is extremely important to make sure that even the tiniest construction on the territory is certified. Whether it is a pool or a parking space, the construction permit is obligatory. In addition, the buyer should ask the seller for information about the availability of a certificate confirming the suitability of the property for habitation. When buying a plot of land in Spain, it makes sense to make sure that there is no obligation to clean up contaminated soil. If the land has ever been used for activities (such as industrial activities) that could contaminate the soil, it is subject to the law that prohibits building on contaminated soil.
The results
Before buying real estate in Spain, doing in-depth research is a must. In case you do not have time or desire to go into details of the Spanish legal system and characteristics of the housing object, contact the professionals. They will provide qualified help as well as the major aggregator Spain-Real.Estate that provides outstanding real estate of first-class quality. The updated information of each apartment in Spain is available on the website. Open the world of luxury real estate with Spain-Real.Estate.
