Buying apartment off-plan

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    • #239326
      paulbrown101
      Participant

      Hello All,

      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.

      Thank you

    • #239351
      spanishlawyer
      Participant

      Hi Paul.

      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?

      Hope this help

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