[Anonymous]

Hi,

I would like to buy a property in Spain. I’m interested in the area around Lake Vinuela, Malaga.

I’ve 90k cash and ready to buy. Can anyone tell me what I’d expect to get for that sort of money?

Thanks.
PS: Great forum btw, a great resource.
🙂

[Aunty Val]

A top of the range Mercedes but that’s about it.

You may look at properties in that area in your price range but they will either be illegal or slipping down into the lake.

Just take a quick look on one of the portals – Think Spain or Kyero and see what 90k gets you.

I would either start saving or find a cheaper area.

[Anonymous]

Hi Aunty,

Thanks for the website pointers. I’ve found two,3 bed properties within my budget, but they are not exactly what I’m looking for.

When you say illegal properties, what does that mean exactly? I’m a bit new to this so any help would be greatly appreciated.

Also, I spoke with an agent yesterday and they told me they had a couple of thousand properties on their books at the moment. Is this odd or is this property crash about to get a whole lot crashier?

[Anonymous]

I wish you good luck with your search.

However, as far as illegal houses are concerned, please see this website:

http://www.soha.es/Progress.html

[Anonymous]

Hi arabrab..

Thank you for passing that information on. Much appreciated. Although it’s put a bit of a dampener on the dream.:(

Can a solicitor find out if a ‘Final Habitation Certificate’ is valid or if one exists at all for a property?

Or, is the register of all properties that are considered illegal?

This kind of thing is going to compound the Spanish economic problem even further which is a real shame.

Thanks again..

[Anonymous]

I left this for someone else to reply to but as yet no-one has.

Make sure you have a good independent solicitor (independent from the estate agent) and ask to see all the relevant documents.

Unfortunately there isn’t a register of illegal properties. A property can be registered in the Land Registry and still have paperwork that isn’t all that it should be. So be careful.

[Aunty Val]

Sorry for the delay in replying but picking up on a couple of points:

If an agent says he has 2,000 properties on his books, ask him how many he’s seen himself. They will be refferals and properties shared amongst other agents – he won’t know a blind thing about 1,800 or 1,900 of them.

If you want to deal with an agent like that then make sure you count your fingers on the way out. 😆

As for illegality – just make sure you use an independent lawyer and make sure you research buying a home before you fall for the “property of your dreams”.

Ask to see Nota Simple, IBI bill for 2008 and that will rule out a lot of the problems you can expect to deal with.

[Anonymous]

@Aunty Val wrote:

Sorry for the delay in replying but picking up on a couple of points:

If an agent says he has 2,000 properties on his books, ask him how many he’s seen himself. They will be refferals and properties shared amongst other agents – he won’t know a blind thing about 1,800 or 1,900 of them.

If you want to deal with an agent like that then make sure you count your fingers on the way out. 😆

As for illegality – just make sure you use an independent lawyer and make sure you research buying a home before you fall for the “property of your dreams”.

Ask to see Nota Simple, IBI bill for 2008 and that will rule out a lot of the problems you can expect to deal with.

Thats great! Thanks for the info! 🙂

[Anonymous]

Just as an update to my previous post, and I’d like to thank posters for their help.

I have found my property, around Lake Vinuela. A three bedroom villa with a pool for….. wait for it….. 92k euros! 😯 Now the plot it’s on is not large,but it’s enough and it’s private. At this point everything checks out and looks good. A distressed seller. I’ll be completing the sale in the new year.

The only thing I’m worried about now is that it was actually easy to negotiate this price, which makes me think that prices will fall further. But I’m happy, the place is great, more than I could have wished for and I won’t be selling for a long time so I sure the market will have well recovered by then.
😀

[katy]

Be very careful, a house in Viñuela was demolished only last week. The mayor (due in court Feb.) has been giving illegal permissions…it is a ticking bomb!

[Author]

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