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I’m looking for some advice and hope somebody can help.
I’m considering pruchasing an off plan property as a long term investment. I had planned to use a surveyor to snag the property and to ensure that I did not end up with a property which was defective. I understand that if the surveyor finds defects I’m still obliged to complete on the property before rectification work is carried out.
The property will come with a 10 year build warrenty & I’m told that this is my gaurentee that the rectification work will be completed. This concerns me as I can see this being difficult to manage from the UK and it will then be up to me to make sure that the rectification work is carried out rather than the builder.
Any advice!
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DGR,
Beware of the so-called 10 year building warranty…
This usually is not an additional warranty but many, many developers will try to tell and convince you so…
If you don’t have an additional warranty signed by the developer/builder in writing or a valid copy of their insurance policy you will only have the general law (‘Ley de Ordenación de la Edificación’ or General Building Act) warranties:
1 year for minor defects (finishing details) only against the builder
3 year for general defects, and
10 years for mayor defects (only those affecting the building structure or stability)This Law is applied to every building in Spain with a license requested after 05/06/2000
Lots of times you will have to go to court to get your rights granted, belive me, I tell you this as I usually represent the ‘enemy’ in this kind of building defect lawsuits as lawyer of Architects… 😈
Architects have most of times a decent insurance policy and there are many times when they have even to deal with promoters and builders insolvency 😥
Cesar
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