El blog de Maria

 It seems to be very much of a topic these days. We are receiving requests from clients interested in buying this type of properties in Spain due to the current prices.

There are some legal checks to be done and different legal work to be done depending on the legal status of the same:

Some examples:

1.- Buying a house which has been repossessed by a Bank: Corresponding check at the Land Registry on current ownership status + requesting first occupation license status from the Bank + technical report for possible building deffect or deterioration which will affect the price +debt free proved ( community fees, taxes...)

2.- Buying  a highly discounted house from a developer:Corresponding check at the Land Registry on current ownership status + requesting first occupation license status from the developer + technical report for possible building deffect or deterioration which will affect the price + debt free proved ( community of owners...)  

3.- Buying from a buyer who is under claiming process of inital deposit: The agreement of the developer is necessary if there is no specific clause which allows this type of transmission on the initial private contract. If the claim is in Courts, it is advisable to also have the developer agreeing on a cost-free withdraw of the case from Courts.Corresponding check at the Land Registry on current ownership status + requesting first occupation license status from the developer + technical report for possible building deffect or deterioration which will affect the price.

4.- Buying from an owner who is in a dation process ( handing the keys back to the Bank): Agreement with the Bank for the subrogation of the mortgage or a new mortgage contract with another Bank if you are using financiation.Corresponding check at the Land Registry on current ownership status + requesting first occupation license status from owner + technical report for possible building deffect or deterioration which will affect the price + debt free proved ( community of owners, taxes...)

Many oportunities now in Spain but never forget the required legal check by a good, specialist lawyer

Kindest,

María 

"Faro de Punta Camarinal",Zahara de los Atunes, Spain, by Luis López-Cortijo