Legal tip 94. Some risks to avoid when buying a repossessed house
Monday, June 1, 2009 @ 12:04 PM
- Loans and encumbrances ( a Land registry note will tell you about it)
- Unpaid Commuity fees or expenses ( a certificate of Administrator or President of the Community of owners will give to you that information).
- Unpaid IBI payments ( The Local Council tax department will be able to inform you on this)
- Former owner living there ( squatter): the judicial process to have him out can take as long as an eviction procedure. More than 6 months…at least.
Of course, if you are buying from a Bank´s store of repossessed properties, they will be liable on safety regarding all the aspects mentioned above !
By Maria L. de Castro
web@costaluzlawyers.es
www.costaluzlawyers.es
Medina Sidonia ( Cadiz) by JFGCádiz at Flickr.com