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Tricky business in Spain?

Discussion in 'Buying Overseas Property' started by kobbe, Nov 27, 2008.

  1. kobbe

    kobbe New Member

    I encountered quite an opportunity, so it seems (?) ... Advice please!
    I can buy a little old yet reformed house in a very touristical city at the Mediterranean. The price of the house is 25.000 euros. Currently the house is rented for 350 euros a month. Yes, that means that 7 years of renting would return the cost of buying that house... But : the 'owner' doesn't have the Escritura. She claims that we can make a deal in front of a lawyer, we sign a Contrato Privado de Compraventa in presence of a lawyer and then the deal would be perfectly solid. This makes me doubt the whole deal ... This would mean that I wouldn't be the registered owner, right? Then suppose I start some kind of procedure to register the property on my name, it would mean that all unpaid costs of the past (like the plusvalias and all) would come on my account, no? If someone would occupy the house, I couldn't do a thing? To be short : it is quite a risky deal, no? Or are there solution?
    Any help, advice, explanation, ... will very much be apreciated ... You see, I have a ticket to go there this Monday... I'd like to know if it's wise to continue with this purchase or just let the ticket for what it is and go to my job this Monday ... Thanks a lot!!!
  2. Lysos

    Lysos New Member

    You need to get real legal advice fom a solicitor versed in Spanish law. Personally, without title deeds I'd steer clear.
  3. Spanishstokey

    Spanishstokey New Member

    Good advice!!!!

    Lysos.........Couldn't have put it better myself. anything that seems the slightes bit dodgy, always steer clear....and always use your own lawyer.

  4. Mari

    Mari New Member


    In the Topic "Distressed Resales from individuals " Spanishstokey (Lorraine) have mentioned that you have recently obtained info on a re sale bargain property that people just wanting to get out! Could you send me the information on this that last year selling for 180k, then 164k, then a major shift to 89,950......... I am looking to buy an apartment or townhouse within walking distance to the beach, either big studio or 1-2 beds with a large terrace or a small patio. Below market value max 120 000 Euro and with finance preferred.
    Will be happy to receive options
    Last edited: Jun 16, 2010
  5. Property Profit

    Property Profit New Member

    You need an English speaking Spanish lawyer and make sure you check land ownership and all legals regarding the any planning aplications ect.

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