Help required – pitfalls about buying in Spain

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This topic contains 13 replies, has 10 voices, and was last updated by Profile photo of Anonymous Anonymous 9 years, 6 months ago.

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  • #52896
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi All

    I am in the process of updating my guide – “An Insiders Secret Guide To Buying A Property In Spain”

    In this there will be a new section entitled “The Pitfalls – and how to avoid them” which will cover such topics as
    1. Building licences/Permissions
    2. The Agent/Developer/Lawyer triangle
    3. LFO
    4. Bank Guarantees
    5. The judicial system and what to expect when things go wrong
    6. Investing in Off plan/Speculation

    I would like to solicit your help in two ways. Firstly any other topics that you think should be covered please enlighten me

    secodnly some actual real life stories covering the various topics – with obviously permission to put it into the guide.

    The last guide was read by over 5,000 people (possibly more because it was downloaded by 5000) so there is a wide reach and certainly if 5,000 people are better informed then it is 5,000 less to worry about later.

    This is a section I haven’t covered in detail before – mainly because I wasn’t really aware of such things when I originally wrote it (3 years ago) and subsequent updates. However I think it is prevalent. It used to have a subtitle “The Book Estate Agents Dont Want You To Read” because there was a section which explains how estate agents work and how the commissions can mount up (and how they charge) However as I subsequently rewrote this section and created a separate guide called “Why Would You Use An Estate Agent” I took this bit out (this particular guide is available with the buyers guide also)

    So my question is

    Is there anyone out there who would be willing to contribute with their own personal stories – please feel free to PM me.

    Many thanks in advance

    regards

    Vince

  • #72281
    Profile photo of Anonymous
    Anonymous
    Participant

    Fair Dues Vince and every success with it but where can I get a copy of the original please ? 😳

  • #72282
    Profile photo of Anonymous
    Anonymous
    Participant

    Will send you a contribution Vince – asap.

  • #72284
    Profile photo of Anonymous
    Anonymous
    Participant

    You should add:

    1) Power struggle between the Spanish/English, as to who will be taking control of the block.

    2) Incompetent Administrators.

    3) missapropriation of commnunity funds.

    4) No legal requirements of having an independant Auditor.

  • #72299
    Profile photo of Anonymous
    Anonymous
    Participant

    Of course, many readers will believe this to be purely mythical creature – but, I believe there have been documented sightings throughout Spain.

    That is…a good estate agent.

    Perhaps your guide could give a few pointers about how to spot this elusive creature.

  • #72300
    Profile photo of Anonymous
    Anonymous
    Participant

    Suspect it’s rather like bird-watching: a pair of binoculars, lots of patience and oh, bring a thermos flask and a packed lunch – could take a long time.

  • #72309
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Rawlins

    there is a section on what an estate agent does, what to watch out for and how to find a good one – questions to ask when trying to find one etc, so hopefully this covers the search for the mythical creature.

    Regards

    Vince

  • #72320
    Profile photo of Anonymous
    Anonymous
    Participant

    Just as long as you don’t ask for membership of any “Official” trade association!!!!

    Stew

  • #72323
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Stew

    this is a book/guide for people who are buying in Spain – the target market is buyers – why on earth would I ask for membership to some unregulated quango?

    It is not aimed at estate agents nor is it for estate agents (in fact after the first release I had a threatening email from an estate agent demanding I withdraw it because of the section “How estate agents work” )

    So getting back on topic if anyone has a story to tell rather than merely trying to deride the guide then please feel free to tell me your views and I will be happy to include your story in the section about pitfalls of buying in Spain

  • #72329
    Profile photo of Anonymous
    Anonymous
    Participant

    Er, I think you’ve misinterpreted Stew’s comment!

  • #72330
    Profile photo of katy
    katy
    Spectator

    Don’t know what is in the sections but I think it’s important to stress having a survey carried out as most buyer’s don’t have one. Know someone who sold an expensive house with a pool in danger of sliding down the hill! before selling they did a quick cover up and filled in the cracks with house bricks (that big) and rendered over 🙄 Most spanish houses are money burners so it is important to know future costs.

  • #72332
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes Katy and no disrespect to Hillbilly, but as it seems with all things in Spain, its not just a case of having the job done, but having the right people do the job. We recently sold a house and as you suggest the buyer had a survey carried out, the report said that a large amount of remedial work was needed on the property and quoted a price to carry out the work. We smelt a rat and asked for a detailed breakdown of the quote, which must have been done to provided the price given in the report. It was not forthcoming, however the surveyor did ask to meet and discuss it 😉 We took a reputable local builder to see the property to discover the reported problems were minor and that it would cost only 20% maximum of the previous quote 😯

  • #72333
    Profile photo of Anonymous
    Anonymous
    Participant

    Sorry but no surveyor, unless in league with/employed by a builder or not really a professional surveyor at all, would/should give prices for remedial works!
    We might, if pushed, give ball park figures for a buyer to allow for (i.e. worst case scenario), but I for one would always advise the buyer to get their own independent detailed quotations for works.

  • #72335
    Profile photo of Anonymous
    Anonymous
    Participant

    My point exactly often people try to do the right thing getting “proffesional” advice in whatever aspect of purchasing and still it can go wrong.

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