I’m in the process of buying an apartment near malaga off-plan and have just signed the reservation contract.
I haven’t enlisted the use of a lawyer yet and the reservation contract seems pretty straight forward. The property won’t be ready for 2 years and am wondering if there’s a need for a lawyer and at what stage. Also if I need a lawyer to carry out anything apart from check the purchase contracts. Anyone else bought off-plan (remotely) and can share their experience?
I don’t really want to pay large amounts to a lawyer if not needed.
As you probably know there are a thousand of horrendous stories about dodgy developers in Spain.
You should check whether:
• The plot belongs to the developer.
• There is building permit.
Probably you signed a reservation contract without checking that the building matches both the licence granted by the town council and the project it approved.
Before any document is signed you must apply for a certificate from the Spanish Companies Registry accrediting the legal existence of the developer’s company, details of its registration, confirmation that bankruptcy proceedings have not been registered, and a declaration that there are no claims, lawsuits or any other contingencies that might affect the development.
Have you got a bank guarantee to secure your future deposits and to protect your investment in case your property is not delivered on time or your developer file for bankruptcy?
Everything you need to know about property in Spain
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