April 17, 2007 at 6:14 pm #52803
A friend is employing a lawyer to find out what is the true legal status in the selling of a VPO house. I’m just wondering if any others have any feed back on things I’ve heard from locals etc..
They property is 10 years old next month and means it may be free of VPO.
The property is not Renta Libre until 50 year after construction.
10 years after construction and 5 years from when the last buyers bought the property they can sell.
All of the above come under all/some of the following restrictions:
The buyer mustn’t currently own a property
The buyer is Spanish
The buyer must be a person on low income
The increase in value is VERY limited
April 17, 2007 at 8:23 pm #70901
VPO’s are often sold before the restrictive resale clauses expire.
As VPO’s are often legally restricted to a maximum selling price, the vendors usually ask for the difference in black money. As a result, we often see the ironic situation of properties supposedly reserved for the poor being made available only to those buyers with at least 120.000 euros in black money.
I have never heard of a resale VPO being sold for the official price – although I suppose it happens sometimes.
April 18, 2007 at 9:37 am #70921
Yes fully aware of that, but with the changes made by the junta de andalucia who you can sell to and when etc have come in.
Anyone give any more concrete legal info on this?
April 18, 2007 at 9:51 am #70926
I am in Valencia – so can’t help on specific Andalucian regulations.
However, I do know that VPO’s come in many flavours so generalising is probably risky.
August 16, 2018 at 2:27 pm #228425pisotParticipant
I bought a VPO (Benalmadena, Andalucia) was badly advised on resale. I thought I could sell unrestricted after 10 years from construction (it’s 20!) . I have been told I can sell it by the local council and been given a max selling price.
Spoke to 2 abagados who know very little.
An estate agent told me he thought I could buy out the remaing years and sell unresticted … are any of you aware of this.. do any of you know an abagado who knows about this… if you have been through this process would love to hear your story.
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