Buying Property in Spain? BEWARE of These Hidden Risks!
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- เผยแพร่เมื่อ 29 ก.ย. 2024
- Buying property in Spain doesn't have to be a risky experience as long as you do your homework and prepare for the stress. In this vlog I talk about my own experiences with buying property in both Spain and Portugal.
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I bought two properties in Spain, country which I love, and I would like to give this advice: buy something smaller, but in the historical center, historical building (they were constructed better) renovated inside, by doing this you avoid two problems: 1) the risk to buy a property which is not completely legal 2) the risk of having increased the cost for the construction...and if you change your mind later on... is always easier to sell it.
But if you only want to live in it for 2 months a year and leave it dormant for 10 months? I want a security lift, security building and live among professionals in the hope the apartment doesn't get broken into while it's empty for 10 months
I was so overwhelmed with the options. Despite loving the older design and locations kept wondering about ongoing costs and practicality. Your comment clarified some concerns. Thank you.
I would think this is great advice and exactly what I am planning to do when I move
@@mikesmith2315 come to Valencia, is quite good quality of life
My strong advice don’t buy
You didn't mention the important bit, at least for UK buyers, that you need to add up to 15% of the price quoted for taxes and various fees.
Always enjoy your videos thanks , my partner had a place near Alicante and was constantly ripped off by different new charges , even the sceptic tank which was put in place when the Finca was built had to be changed because of new EU regulations and cost a few thousand euro , when she came to sell she found out the access road was built on private land .
Hi Nic, in Portugal just about 100% of plots offroad are accessible through other private plots but the law grants you right of way. In other words, yes the land over which the access road was built belongs to your neighbor BUT he/she must give you that access, one way or the other. In any event, you should become aware of these and other situations prior to a transaction. Just go around and ask who owns the adjacent properties and go talk to them. Chances are you will end up drinking wine with them - or they will end up selling their plot to you ! (both cases have happened to me).
Moral here...be careful of diy lawyering.
@@Kitiwake no she used an accredited Spanish lawyer
We are thinking to buy property in the Canarias and relocate. We are from Romania and my wife works for a Spanish company. We speak Spanish very well.
I just can’t understand that anyone would pay so much for a used holiday home, it’s not better than a used car. 20-30 years old and more. When there are brand new homes for almost the same price and with warranty ! Old things always need DIY and that is so expensive these days both material and labor.
I would love to have my own house in Spain.
Immigration is much more difficult now, after brexit.
Interesting video thanks for sharing. I've never been to Portugal but I love visiting Spain
Thank you for the deailed account! I have postponed a possible move to Portugal, but last year I researched small habitable Houses (I'm single and solitary. That's my style.) Found one small House that had been completely renovated the year before. In the hills around Coimbra. Would have been perfect, but time wasn't right. This was offered through a UK real estate firm and I think they would be above board on everything.
Still dream of the Garden full of Fruit Trees and outdoor Bread Oven!
Hi Suzanne I hate to be a negative force on people's dreams and Portugal is a lot cooler place than Spain, but please dont just buy something. Rent for a year. Get immersed in what's going on locally. Coimbra is a lovely place, but it is so different from the UK in many many ways.
Hi Zosimos! You're right, and I can't afford to just buy something quickly. I'm in the US. Coimbra is my choice for the University and the Agriculture. It will be a process, though.
@@suzannederringer1607 Suzanne I gew up in Coimbra, we are waiting for you....! Lots of fantastic little houses with gardens and land around here.
@@MOZAMUSIC2011 Thank you! I am interested in the University and the Farmland all around. This will take time, but I think Coimbra is the right area for me. I am studying Portuguese...It is so similar to Italian, it's not difficult.
Lots of properties without proper permit. Interior designs are horrible in Spain. You need lots of $$$ + good foreign architect to refurbish.
Spain is different, always has been !!!!
When was this video made ?
Title search and escrow is not required and therefore automatic?
Rent for the first year or two, don't buy.
Could you please tell us the pros and cons of Spanish residency?
Residency is twofold - epadronamiento = you have an address Tax residency - stay more than 193 days in a tax year in Spain and you are automatically tax resident in Spain - worldwide income taxable in Spain except when dual relations exist (EU) - obliged to do a tax declaration the following year - after that only when exceeding the minimum limits - base rules but I not a tax advisor....
Great video. 2029 we're gonna buy a house in alicante. when we get closer i may ask you for some help if that's ok with you?
we will be willing to pay you for our help ofc.
if all goes well we should have about 250k euros .we're mortgage free now so should be easy
Hi, sure. You can contact me here www.spainspeaks.com/contact/
@@spainspeaks fantastic. will be in about 3 years time.
many thanks
Hi do you know if it is better to buy in France instead of Spain plz? Thanks
Then you have to deal with french people though
At 2yrs gone by I almost choked on my bocadillo, laughing. Sorry.
Also beware of squatters!!! They have more rights than homeowners
You can end up losing your home .. Beware!!!
Sadly this is true
So the best is to squat first on a property one thinks of buying?
When was this video made ?
@@tomSmith-yw9ej March 2019
Michelle, can you please explain? I don't know anything about losing the home because of squatters
Never buy off plan and never eat yellow snow!!
In that order?
@@adrianred236 lol 😜
And so risky that it is to buy a house in Spain. What do they tell me, after fourteen years paying a mortgage of 112,000 euros, I still have 90,000 euros to pay. In this time, I have only paid interest. This is a country of gangsters, thieves, scoundrels, criminals, a country of the most corrupt in the world, where each one of these thieves roams freely, stealing by the hand, without the weight of justice falling about them, because they are all in the same bag, favors are paid to each other. These criminals, who are not politicians, should be sentenced to forced labor for the rest of their lives, returning everything stolen and their assets seized. Here, the relatives and friends of these corrupt, are placed in their political bars. What is happening in this country full of sheep is intolerable, where they are only manifested by a rap singer when he is condemned for threats and mockery of the King and people killed by terrorists, however no one is moved by the injustices that these corrupt people commit . I advise that no foreigner buy a house here.
I have a Motorcycle in Spain and I have to pay "mandatory Insurance" even though it has been broken down and off the road for 2 years, apparently it is the Law- not like the UK where you can SORN it. sorry for being off subject -- just a heads up
It seems like in Germany it´s just the same as in Spain. If you want to stop being charged insurance and vehicle tax for a car or motorcycle you don´t use and even keep on private ground, you have to deregister by presenting the rear number plates to the road traffic department and they´ll scratch of the seals in order devalidate them.
If you leave the vehicle after deregisteration in public space you´ll get fined.
Just put it on "baja temporal", is not that hard bruh
Is the socialist bureaucracy like in the US?
I've had cars on my land for years. They are not insured.
I can solve that for you Alan ! Ride it 😀👍
I really liked this video, very frank. My partner and I, as of last sept 2018, bought our casita for a steal in the tranquil and verdant Lecrin Valley outside of the Granada. The process and recommendations of the estate agent and lawyers were excellent, professional, prompt and approachable. Their fee, costing no more than 1500 euros, included obtaining the surveying, deeds and power of attorney to claim an NIE and bear witness to signing along with the seller etc. I can't speak for urbanisations and off plan, but this place is so wonderful and we couldn't have had a better experience. I'm hesitant to mention the Valley because it's so pretty and unspoilt, but do visit because it is truly spectacular!
Pity you didn't indicate what you paid because I'm including all fees and tax and it's much more than 1,500€.
Traduction
The developers are already negotiating with the local farmers,lol. Or maybe not so much.
Could you do a more indept video on buying property in spain and on the running costs, and say more about buying an existing property, thanks very much
Dear British citizens, I have been living with my partner in Spain and we had a horrible house experience, the same with burglary and thieves! Instead of Spain, consider Croatian coast which is extremely safe no burglary, no thieves like in Spain. There is no property tax in Croatia! Most everyone speaks English unlike in Spain where even the Spanish lawyers don't speak English. There are direct flights from UK to many cities along the Croatian coast. Incredibly beautiful nature, amazing history and architecture, not made for mass tourism, the sun is a lot more gentle which is prefect for the Nordic skin. I can go on and on...just have a look for Pula, Opatija, Rovinj, Rabac, Istria, Zadar, Split, Makarska, Dubrovnik...so many places along the coast just look on the map.
When you say the Spain in what region of Spain you had this bad experience? Spain is very big is not the same Galicia that Andalucia or Catalonia or Extremadura.
@@mickybcn7453 It was in Andalucia, Malaga area. I heard the same bad experiences in Barcelona, Catalunya and Valencia area.
@@jamesjoyce3156 Yes sometimes happened but is not normal,and usually the thieves are from Bòsnia and East countries.
@@mickybcn7453 there are thieves everywhere and of every nationality.
Hundred per cent right, well said, Spain is a corrupted country and you are defenseless. Worst of all the Valencian region that they change laws eve five minutes and you end up completely screwed up loosing it all.
Don’t buy houses in Spain.
Could you do a vid on off-grid living in Spain and Portugal and the legal side to it it your from UK like me, thanks
CK, I'm in Portugal, what exactly do you want to know?
Loving your blogs, and so glad I've found you, especially regarding the daily virus updates. One point I'd like to make, however, is that friends of mine did all the research and employed all the right people, only to find that the local mayor and solicitor had falsified permissions and documents, and the property was on illegal land. The problem was compounded by the lack of interest shown by the higher courts and authorities. Still not resolved to this day! It doesn't seem fair that the buyer's did everything humanly possible, but were let down by the system.
Que guapo eres .
We would love to move to Spain . It is good for everyone to know the pitfalls. Also we know a couple that bought home on Costa Blanca. They bought FRONT LINE. Some years later the Spanish built in front of their house. Not what they had payed for. So watch out if you think you have a VIEW bc 3 years later your View will be gone. !!
Nobody can tell what's going to happen in 10? years time.
NEVER PAY A PENNY IN ADVANCE. NEVER. EVEN LESS IF YOU HAVEN'T BEEN TO THE PLACE AND SEEN IT WITH YOUR OWN EYES. STAY AWAY FROM LAWYERS AS MUCH AS POSSIBLE AS WELL. THEY ARE IN THE BUSINESS. GET A CERTIFICATE FROM THE CHAMBER OF PROPERTY OF THE PLACE YOU WANTTO BUY WHERE IT SAYS DEFINITELY WHETHER THE HOUSE IS FREE OF MORTGAGES AND IS DEFINITELY OWNED BY THE PERSON WHO WILL BE SELLING THE PROPERTY. BE VEEEEERY CAREFUL TOO MUCH CRAP WITH BANKS AND NOTARIES, SOLICITORS AND ESTATE BUSINESSES ALL INVOLVED
Con este gobierno MUY ARRIESGADA
SI NO CAMBIAN NO CONVIENE INVERTIR
I believe you should rent for a while and assess everything properly.
Friends of our bought out in Spain a few years back and nice villa but not a good investment.
Easy to lose money, although they love the villa they do regret not having rented for a good while first
@@markohenry5891 good advice
Buy a house that’s already built ... in a mature area. Good advice !
As a American (my wife is Spanish) I found the purchase process here in Spain more than a bit arcane and more expensive. I had bought and sold two houses in the US and found the process much easier and quicker. The fees that you have to pay in Spain are so much more and the extra bureaucratic steps make it a lot less fun. I felt more elation that the process finally being finished three months later, than I felt when be did the sale at the notary and got the keys. Realtor fees are similar in the US, but the VAT is not. VAT, or as we call it sales tax, is not charged on the sale of a home. You only pay a "title transfer fee" of $300-800, depending on the municipality. Also a lawyer is always involved and the purchase always takes place in their office with lawyers from both parties present. The difference is that their are not separate notaries, all lawyers in the US are notaries. There are also a lot of "little extras" that are part of the process. An sworn certificate of title done by a professional showing any liens and certifying that the property is fully legal. Insurance of the title is also included to make compensation to the buyer if something is fraudulent or missed. There is also a complete inspection of the property by a licensed inspector certifying the condition of the home. The entire process from agreement to purchase to final delivery of title of ownership (Deed) takes less than 60 days. That is for an existing home. Buying "off plan" in the US is not common. Generally construction has to have begun and be at a certain percentage of completion before a unit can be sold. Contracts are also much more defined. A delivery date is part of the contract and the builder will be liable for fines for not meeting the contracted date. This can be refunds or reductions in final payment, based on the contracts late fee provisions(i.e. $250 for each day beyond contracted delivery date). Needless to say I felt I was buying a house here in Spain like it was another planet!
my experience the worst living nightmare, remember buying in Spain it s a Russian roulette no matter what even solicitors and notarios are a disaster, Dont bring money into Spain
You are right . Its disgraceful in here. You have to be veeeeeeeeery careful
Pues contratando un abogado que te costaria menos de 500 euros tenias el problema solucionado, porque no lo hiciste ? yo soy local y siempre haria mirar lo que quiero comrar por un abogado o iria al Ayuntamiento para informarme si lo que quiero comrar esta legal,si tiene cargas o limitaciones etc etc, tambien se puede mirar la pagina del catastro por internet, etc etc.todos esos problemas que oigo no se en que regiones deben ser, aqui en Catalunya no he escuchado casi nunca esos problemas excepto esos que compran sobre plano y luego la empresa cae en bancarrota por algun motivo, por eso no compraria NUNCA ninguna propiedad sobre plano.
Drive slowly past parked vehicles unless you don't mind a bloody body on your lap.
There are a lot of Okupas, so be carefull to leave the property alone.
Okupas?? What is that? Squatters?
Marky Mark
People who take an a empty property for living themselves.
Don t buy just rent...... xpain is bankrupt and taxes are up!!!!!!!!
@@goldo1107 yes
There squatters. You get them everywhere.
neighbours and increases in paying community charges (la communidad) in a shared building can be a problem. Get them to prove that gas and electricity works before you buy and make sure that the person you are buying from has the deeds to the house. at least there is no leasehold in spain and it's almost 100% freehold (UK law for who owns the land on which the building stands).
My next home I purchase will be a flat in Madrid; at Barrio de Slamanca. 👏👏👏👏👍👍 Salutations from, USA.
vaya ricachon lol
Good advice in this video. Wherever you may choose to buy a house and in whatever country, it's always wise to do your homework beforehand. If you have friends or perhaps a family member that's been through the buying process then it may be good to take their advice and recommendations too.
I was told to always get a mortgage even if it's for 10,000€. The banks would never lend against a dodgy property.
This seems like great advice. As a REALTOR® in the United States, the banks will definitely pay for due-diligence on any property they're financing, which will certainly alleviate some risk. Thanks!
Excellent advice, we did this and the bank turned down our first two choices, saying they were illegal.
On a recent visit to Spain I noticed CD more than one estate executive mdue saying mortgages of less than £50000 were rarely available from banks.. May be different for bank repossessions... ?
All the things you talk about buying in Spain can be avoided if the lawyer you sign the contracts with knows what he or she is doing. "Big Difference between a city or coastal lawyer and a lawyer who specializes in rural property as the laws are completely different". Penalty clauses for late completion, clauses for not raising prices, indemnity clauses, check local government to see if the building project has even been granted, what time frame has the government given for the building to begin and end, the solvency of the building company and the insurances they have. It can all be very easy but so many don't know the system and often find a duff lawyer. In my 31 years in this business I have had to sue at least 5 lawyers on behalf of my clients !. Go to your consulate or embassy and they should be able to give you a list of reputable English speaking lawyers.
Surely this is just common sense, unfortunately to many buyers come and leave their brains at home.
Don’t do anything unless the builders checked out and all the licenses are in place ,they give you bankers guarantee on all payments.Make sure you have an English speaking independent lawyer.Use an established reputable Agent, not one working out of the back of a car with a good looking web site but no office and probably not legal.
I think if you have trusted Spanish friends, they also can help you with some of the ins and outs of purchasing property or any other legal matters.
Trust no professional in spain, corruption is rife and recourse via the legal system is monumentally difficult, my brother in law has been involved in a 22yr property claim case, nearly everyone involved at every level has been shown to be corrupt
Mission Dan...…….Thailand is exactly the same - and probably even worse! I have a theory that many of the low-life scum that thronged to Spain in the 1970-80's etc [creating what was euphemistically referred to as the 'Costa del Crime'] fled to Thailand when the Spanish police started cracking down on them.
As with Spain - Thailand is utterly and completely corrupt. It is paradise for criminals [which Thailand does its utmost to attract, support and protect] and everyone from government officials, Royal Thai Police, Thai Courts, Judges and so-called legal 'professionals' are all totally complicit.
But even worse than the situation in Spain is Thailand's draconian anti-defamation laws - which prevent victims from speaking out and 'naming and shaming' these evil bastards who have literally destroyed countless decent people's lives. [Google Ian Rance, Colin Vardy and Andrew Drummond if you want to know more].
Avoid Thailand like the plague!!
TheSoulTwins i cant speak about thailand, never been, but im not talking about ex pats or criminals being corrupt, im talking about legal and trained spanish professionals in spain
@@missionDan ……..Yes, I got that Dan - and if you would kindly re-read my response you will see that I alluded to the equivalent Thai 'professionals' in my comment. From my own experiences, the vast majority of Thai lawyers, Judges, police officers etc are utterly corrupt or totally incompetent - or both! [there is a very telling euphemism about Thai law - 'Cash for Justice'. Meaning you can commit ANY crime imaginable - even mass murder - and get away with it as long as you have enough money to bribe people.
Just google Vorayuth Yoovidhaya heir to the Red Bull fortune, model/actress Anna Hamblaouris / Reese or the Srivaddhanaprabha family - King Power and Leicester City Football club owners. [the former are murderers and the latter were found guilty of defrauding the Thai government out of more than US$250M!] Yet they have all bribed their way out of prosecution!
By the way, consider yourself lucky to have never been to Thailand - it is an absolute shithole and attracts and is 'home' to the dregs of every country on the planet.
Yes, definitely you need to do your homework before buying a house. My experience is that unfortunately, you shouldn't even trust the council arquitect. I got free advice from private arquitects and from a lawyer. When the time came, we hired that same lawyer before signing anything. Otherwise, we would literally be crying right now.
I'm Spanish, however I'm also half Portuguese, I only lived 5 years in Portugal when I was a child. But, I lived in the UK for 13 years and part of my work was dealing with Spanish and Portuguese companies and my impression is that the Portuguese are more professional in what they do. However, as we all know there is good and bad everywhere. So, do your homework, research very well before signing and beware not to trust anyone by his/her word!
hello,i hear about squatters problem,meaby you can make one vlog about this situation please
I bought a farmhouse in galicia. Green country, honest helpful people, never a problem of any kind.
Beautiful mountain top with great few.
If i would not got sick and needed special treatment i would not be in boring germany again. I lived in many countries but this is the best. Ok, it rains a lot, but that makes the place so stunningly lush and beautiful.
I will sell for a ridiculous price to the right buyer.
It's also very cold in winter.
Sivedan... How biased and partial is your comment!!!! I wonder if it's because of envy...
The municipality of Madrid has an area of 605 Km2, but a built surface aprox. 350 Km2; surface of those "bad" areas that you comment: El Pilar: only 1 Km2 and 31,500€ GDP per capita. San Blas: only 1'2 Km2 and 29,000€ GDP per capita; these two "bad" suburbs in which "you even wouldn't believe that you're in Europe" have more GDP per capita than most European Union countries; TOTAL AREA of all suburbs of the same kind in Madrid city extends by approximately 17 km2, ONLY 5% of the total area of the city, and the poorest area is Entrevias, has 20,700€ GDP per capita....And I remind you that in most cities in Europe there are suburbs of the same kind and worse. Madrid city has approximately 52,000€ GDP per capita and its metropolitan area almost 42,000€ GDP per capita.
Las Rozas, with aprox. 61,000€ GDP per capita, is neither the only nor the richest area in Madrid; La Moraleja, the richest, has 170,000€ GDP per capita... there are many more very "good" and very rich areas than poor and "bad" suburbs...
Thanks for the info’, I was thinking of buying a home in Camposol, but with comments I’ve read and now you’re advice on not being tempted by price I’m having 2nd-3rd-4th thoughts. There’s a lot to consider. 👍😎🍺🍺🍺
The quality of construction in Spain is often terrible with the building standards also found to be sub par. It’s not that the trade is lacking skilled professionals it is more a case of their attitude, the focus is on saving money, cutting corners and fooling buyers into thinking the levels of quality are far above what they actually are. A lot of the pricing and valuation processes are absolutely ridiculous. A true minefield, both for those that are naive and those that are switched on, each type of individual suffers differently when buying in Spain!
Contractors the world over seem to be human pond scum.
Erm the quality of construction in spain is roughly 3 times better than the UK and 8 times better than the US
A IP 😂 you simply haven’t got a clue. Have you Ever heard of building standards? Please learn why the likes of you in particular have 2 eyes and 2 ears yet only 1 mouth.
@@JR-jj2dh no but I have lived for years in the UK and in Spain and the difference is pretty noticeable. Then again, in Spain I lived in Madrid not in coastal settlements designed for tourists. But even those should comply with Spain's rather strict building standards. If you want to know about them let me know. One of the many "benefits" of Brexit is that the UK can continue to cut corners on such things.
The construction stardards in the U.K are terrible. They use too much wood in the construction of a house. Floor boards everywhere and underneath them. In Spain they use concrete. Much better.
Thank you, was very interesting. Considering to buy a flat in Spain or in Portugal and doing the research.
Would love to hear more about your experience in Portugal!
Don’t buy in Spain. Better to rent seasonal than buying. They have too many squandering going on nation wide. Once they move in, you have no rights to remove them without having to go through the judicial system. It may take years to get the problem solved all at your expense. Why invest in a nation where the government protects everyone but the investors / property owners. And if your property ends up destroyed, it is up to the property owner to pay for all of the repairs. Los “Ocupadores” are exempt from having to pay for any of the damages left behind.
Thank you for your honesty about the housing.😊
I did my research thoroughly for a year before making an offer on a property in the Almeria province last November. We needed a mortgage but could still have signed everything within a couple of months or so. I only extended it because I already had flights booked and it suited the buyers who live in Barcelona. I had a thoroughly recommended independent solicitor (not linked to the estate agent) and it couldn't have been smoother. Better than my son who bought his first UK flat around the same time, unoccupied, which took 7 months to complete. But then we weren't buying off plan which I expect complicates things.
I agree so much please do not buy land or homes in Spain. We don't need anymore foreign. We are already invaded. Stay home stay safe. Stay in your home land
Gladly friend.
I will.
For christ sake. Its not worth the risk. Besides that when i went to write my will my solicitor asked me 'do you have any property abroad?' I said no and he said 'because if you have, forget it'. We have all on not getting ripped off in the uk nevermind in a foreign country.
Bank owns 99% of the houses in spain due to this its way more expensive dont property in spain if someone broke your home you can't get help by law and that person is going to occupy your home becarful
A lot of scammers in tenerife! Dirk ady otten ex time sharing! Takes 20% on a sale! Lives in san isidro!
We bought a new house (chalé) 21 years ago. There were a few things to be fixed, no problem, no extra cost. We are now best friends with the builder. Spain is a Paradise once you speak the language. I think we will buy a finca now that the prices are low.
If you have 10 years to spare to be fluent in Spanish!
@@davidcritchley3509 You learn a lot from mistakes...
🤣🤣🤣 BYEING IN SPAIN NOW IS JUST CRAZY BUT REALLY REALLY CRAZY
BUYER BEWARE
What NOBODY ever tells you when buying property in Spain (I found out when helping a friend buy property near Valencia) is that there is a register where property prices are noted - not sure what it is called? Peter Stuart can tell us?
Anyhow, when you buy property, if it has been undervalued or you think you are getting a bargain (resale and new sales), you may well be correct. Apparently, a month or so after your purchase, the local authority sends you a hefty bill on the difference between what you paid and what is written in this register. Sometimes it could be 10,000 on a cheap property and many thousands on more expensive ones. WHY STATE AGENTS DO NOT TELL PEOPLE OF THIS IS CRIMINAL!
We bought off plan on Camposol Mazrron the villa was two years late in completion but once finished the villa has been a success. Most people have been happy with their villas but a small minority have had problems..
Particular cases...
It is necessary STATISTICS. Particular cases do not define an experience. It is not good information.
I totally agree with you but these stories are rarely collected in statistics...
If you use an English speaking lawyer and allow approximately 12% on top for fees and taxes you shouldn't have a problem. If something seems too good to be true it probably is. I have a property in Spain and dont regret it one bit.
Buying is easy. Wait until you go to sell it.
@marco polo Hi Marco,
You dont buy property. You buy the title to property.
Buying in Spain is easy selling is a different matter
Selling is not an art, if the price is right you will sell. Sadly for many they owned a villa that was worth 40% more than it is today and become rightly disappointed when they cant sell for the figure they think the home is worth. If the price is inline with the market you will sell.
@@missionDan what if the title has hidden defects?
Pat Aherne please elaborate, i dont understand
@@missionDan listen to the video again. He deals with that.
Like a sect easy to get in difficult to get out
Happens in Mexico all the time when buying a home or condo have to be on your toes builders go bankrupt and the buyers are out their deposits. My friend lost her 25 thousand deposit
Can she recover from the bank for having released her deposit?.
Im out of legal practice now but lead a case in Spain on this ground.
Pat Aherne yes she sued and recovered part of her money, but not all of it. Although some of the buyers from what I was told lost their entire deposit
What does "Buying off plan" mean?
It means the property is not yet built. You can see a floor plan, and perhaps an artist’s impression
Given that at some point there will inevitably be another recession, do you expect a repetition of these events in Spanish housing or have the authorities put some safeguards in place?
Who checked the title, the building permit the clearances from the Alcaldia, any liens, mortgages and letter incumbrances?
No. The system on the continent depends on you doing your own due diligence... And not to put you wrong, by a competent, and responsible professional. ( Poor lawyers are always the better bet)
I think he forgot the most important thing. When you buy a property in Spain you pay a tax on the purchase. That to an american is crazy. That is money that is gone and you will not recover when you sell.
Do you pay a tax when you buy a property in the US? In the UK we have to pay "Stamp Duty" when we buy.
Only in the states without sales tax you dont pay when you purchase. In the rest of america you do pay property taxes. And even in those without it they get you with property tax or income tax. Or wrv tax
A couple who bought and thought they were very intelligent DIY lawyers found a check list for all documents to make up perfect title and complied with all requirements. They were very puzzled when the Alcaldia (local authority) sent them a notice to demolish their property. Eventually they realized that all of the sealed permits from the same Alcaldia were forgeries.
Have been watching a place in the sun and a lot of properties seem run down and very rustic. I don’t intend to camp if we buy to retire I like to see before I hand over $ what I am getting but have to wonder how hard is it to get reliable tradespeople like electricians and plumbers. We have renoed 4 houses in different countries. Hopefully Spain will be our last one. We are looking at Valencia we don’t want a city as big as Melbourne. Do Spanish double glaze or like Aus. the houses are built for the heat and are freezing in winter.
Better Alicante or Castellon if you want a smaller city. Valencia have 2 million people in the metropolitan area ;)
Yes freezing in winter, a wood burner is a must.
Thanks for the video. Very informative. We bought ours last year and did a lot of research beforehand and luckily we had a very good agent and the whole process took 4 weeks with all legal doc., and got keys and deeds. Yes, agreed that people should avoid buying off plan....
Man W where did you buy? Can you recommend your agent?
@@esthers9122 it's a "good" agent in their opinion.
This is what gets me, always advising have your property checked by a solicitor as if solicitors do a good job or even the notarios. Our story has made us penny less in legal costs in a battle of twenty years. We wish we had the time to show you on TH-cam what we are going through, honestly is to cry for. Make your home work is a joke, don’t by a property in Spain full stop you are surrounded by legal crooks don’t listen the few that have been lucky in this Russian roulette. You’ve been warned.
Absolutely agree with you. Had similar experience, every body I turned to for help scammed and cheated me. Even had to pay a “fee” to the council architect in order to receive my habitation certificate. The whole affair was a nightmare. Lost a huge amount of money that I worked many years to earn. Now left in a weakened financial situation from which I can never recover. Hate the Spanish for what they did to me.
how many people have fallen into the old we love it here let's look fo a house trap? i know i have from almost everywhere ive been,starting with towyn north wales when i was a kid, just think, a diet of fish and chips, toffee apples and candy floss every day with almost endless rides on the fair at rhyl. the old adage is true, you do become wiser the older to are, thats not to say we can't dream is it? your advice is sound stuart, you should think before committing, will i fit in with the locals?,are there jobs to be found? is life after the holiday going to be ok? if your answer is yes then you will do ok, now it's time to do the real work, looking for a house, looking at the legals, asking for a good deal. i wish i could commit myself and i really say good luck to all those that have a go.
thanks again for your time stuart.
ive literally zero idea why people go to spain with all that massive empty beautiful countryside and buy a place wedged into a million other people. the whole point of buying there is its massive and theyre all crowded into the towns. a mate of mine just bought a 9 room farmhouse for 150k..... and its got a fucking orchard man! why you would want to live in one of those tiny hovels ive no idea.
That sounds magic mate, where did he buy?
@@kebabtank theyre everywhere just go outside the cities and look. go and knock on doors and ask. its teeming with places. they cant sell them, ive seen places for 4 and 5 grand that need work doing on them. you can buy land for next to nothing and grow stuff on it.....
Takes all sorts i guess but i live in the campo
@@bunnyunicorn5209 thats the dream for me to. get land a grow stuff in spain.
If you read all the posts of people, you should know by now, that buying property, like land and finca's, you can not easy live on them. You can not put a house for living in.
Farmland is not land to build a tiny house.
In the forrest, it is mostly not allowed to live either.
People see a lot of land for cheap prizes and think they can live there also.
They see a house in the country side with beautiful vieuws and buy it to live there and after a while they realize the cat in the sack.
If you build something you can really get surprises. So you have to pay fines up to 1000's of euros each day or month, until you break the house down. It's a nightmare.
You need to go to the CADASTRO and ask if you can do what you are dreaming of on that land.
Also, some empty villages, houses...are empty for a good reason.
They have build a dam, so this villages have no water. Or there are other problems.
I know of a Belgian woman with her sons, who convinced people to go to an abandoned village and start a new life. This people sold their houses and went there. Until they realized there was no water. This woman went over there with a horse and a wagon. Together with all this people they had to return to Belgium.
Lost their houses and where defeited.
Big dreams and no knowledge of scammers, thieves, corruption, stupidity, false agencies, lawjers, notaries, immo...
Cheap...When it is to good to be truth, it mostly is.
Jezus christ...
Please people, watch out for heaven sake and go allways to the cadastro first, when you see land, or a house for sale.
I could write a book about the things you need to know. Also...there are areas where there is flooding and the houses and land is under water regularly. Or houses are being sold, because of reasons...
Ask spanish neighbours. Go to the local pub and ask questions. See if other heritages and the family.
If you buy a house and some family members have an ownership too, well the shit is...you need to buy them of too. But when they do not want to sell their piece?
Also, some properties are sold, by scumbags, they sell a house and when you live there, the real owner will be surprized you living in his house!!!!
Fake lawjer, notaries and sellsmen. Gone with the wind, when you tdy to find them and emty offices!!! I know...the wild west.
And remember...all depth that is connected with the house is on you, when you buy a house, land and so on...
So if the previous owner did not pay taxes, construction workers, water, electricity, trash removal, internet, telephone, fines, tresspassing building regulations and the fines and so forth are on you. Even if the previous owner had a loan on the house, without telling you. The buyer is allways the responsable and has to pay.
Adios a todos.
You friend was lucky
In the metropolitan area of Madrid, in Rivas-Vaciamadrid, where you are recording the video, it's absolutely necessary to build housing: this metropolitan area grows about 100,000 people every year. It's estimated that only in Madrid city, almost 20,000 homes and almost 50,000 throughout its metropolitan area need to be built each year. More than a matter of economy, work or production, construction in many areas of Spain is a necessity...
We liv d in Southern Spain,
Andalusia for 3 years. We are back home in the US and want to buy a vacation/ retirement home hopefully in the next few years in the town we lived in.
Employment an issue there?
Have you mastered Spanish yet?
Too much corruption, don't buy. 😅
Im shocked to hear the risks to buy property in Spain. The problems seem similar to 3rd world countries...
Even if you do everything by the book it can still go pear-shaped. My sister bought a maisonette off plan. Her lawyer who spoke good English said there were no problems. She checked everything. Some months later in the local government offices she saw a map on the wall with a huge motorway on it due to be constructed a couple of hundred metres or so from her property. Fortunately the motorway was bulit in a deep cutting so it did not affect her too much. You can do everything right but corruption or inadequate notification of local planning can screw you badly.
"she" checked everything. Obviously she didn't know what and was checking.
The whole point is that she got a local lawyer to check as you are supposed to to avoid problems. The lawyer failed and there is no redress in Spain. Knowing that professional help was necessary she tried to do the right thing. Even if you do that things can still go seriously pear-shaped. Buying property in Spain is risky.@@Kitiwake
@@jaycee6996 immediately there is negligence there.
A planning check is a standard procedure for pre purchase for a solicitor in the Anglo legal system. in Spain the owner's title is inferior to the needs of the community. But that's no excuse I feel..
Even so, a professional would have advised her of this before she paid her deposit.
If she gets no satisfaction she can apply to the collegio de Abogados. But going that route she will need representation.
Tell her to talk to the collegio to see if they recommend someone.
My sister looked at the possibility but she was told it could cost money, time and effort. As it transpired she suffered no financial loss when she sold the property. The motorway was in a deep cutting and so not that intrusive and damaging to the value. Looking at the history of local corruption and chicanery she did not feel it was worth the hassle. There were arrests and conviction of local politicians, builders etc. and so she thought that it was unlikely that Spanish authorities would provide any sort of redress. @@Kitiwake
Must be very old
Talk also about selling the house again and moving back to your Country. Thats When the Goverment ask you a surten amount of tax That can be very high.
Lydia Veldhuizen
They tax you both when buying and selling. They don’t even wear a mask!
Except the climate in Spain, the people are not sympa in the north and in the southern Spain, a young boy took the key of my car...not too great vacation...I have a friend there from 25 Y. and she said "You can never trust a spanish people if you want to make something in Spain"..So, my best vacations, visit and good food, it's in Italia, Sardinia, Turkey and the people are really nice and allways there if we need help for anything. I have an other friend who rent an apartment in Spain, he came back after 3 months, he did'nt like Spain, november was completly dead, nothing to do...and after he bougt in France
Just out of curiosity, what part of Spain is shown in this video and what is the average part of an unattached home in that area? I've been told that Real Estate prices in Spain vary dramatically depending on the region.
The video is Madrid... Prices do vary enormously depending on the area.. But I guess that's true of most countries.. If you don't mind a rural location away from the sea.. Then prices are very cheap.
Just so people will understand, he is driving through north Madrid, probably Las Rozas area, this is NOT TYPICAL MADRID, most of the suburbs in Madrid, are not pretty villas in tidy streets, at all, go to San Blas, El Pillar & south Madrid, and you wouldn't even believe you're in Europe; In San Blas residentes PARK REGULARLY ON STREET CORNERS, blocking traffic, it most buildings there are housing schemes from the 1950's & 1960's, and now newer ones, which all look like they were made from the same mold.
Nope!!! SE of Madrid: he drives from Rivas-Vaciamadrid to Arganda del Rey.
How biased and partial is your comment!!!! I wonder if it's because of envy...
The municipality of Madrid has an area of 605 Km2, but a built surface aprox. 350 Km2; surface of those "bad" areas that you comment: El Pilar: only 1 Km2 and 31,500€ GDP per capita. San Blas: only 1'2 Km2 and 29,000€ GDP per capita; these two "bad" suburbs in which "you even wouldn't believe that you're in Europe" have more GDP per capita than most European Union countries; TOTAL AREA of all suburbs of the same kind in Madrid city extends by approximately 17 km2, ONLY 5% of the total area of the city, and the poorest area is Entrevias, has 20,700€ GDP per capita....And I remind you that in most cities in Europe there are suburbs of the same kind and worse. Madrid city has approximately 52,000€ GDP per capita and its metropolitan area almost 42,000€ GDP per capita.
Las Rozas, with aprox. 61,000€ GDP per capita, is neither the only nor the richest area in Madrid; La Moraleja, the richest, has 170,000€ GDP per capita... there are many more very "good" and very rich areas than poor and "bad" suburbs...
You should talk and inform the foreigners who want to invest in spain regarding and to be aware of the "OKUPAS" that the government support them. Even you buy a house in Spain you may Lost your house, or can be take them to court for years until the government return the property to the owner or pay money for inviders , criminal gangs, to leave your own home.
I was thinking of buying a property simply for the pure reason that property in Sydney is ridiculously expensive. I’m glad I didn’t buy anything because my family want to have an “executive” say in what I do with my money over here. As well,I don’t work and have 0.00 friends here,I just don’t see how it could work out for me. And yes,those dodgy builders and lawyers. It’s a potential nightmare waiting to happen if you’re not careful. Property in Portugal must be cheap and foreign ownership doesn’t seem much of a hurdle from what you said.
There might be a property boom there but in the Galician town of Carballo,there’s f#ck all construction works here(By the way,I don’t want it buy property here. My mum lives in Carballo). Anyway,good advice for the potential buyers out there. Keep up the good work.
Portugal is not so cheap In nice areas and well constructed buildings.
that's the trick though isn't it, finding a competent lawyer. I know this is an old thread but relevant to me know as we are actively looking. Any advice on how to find a competent/trustworthy lawyer in southern Spain?
What I know is the proper way is you need to have your bill of payment and mortgage papers property papers to prove that you’re the owner of the house then you can go to the police the police gives the squatters. To move out I think 48 hours mainly but it’s not difficult it’s just paperwork and don’t leave your paperwork in Spain in your house but put it in a bowl’s in a bank office so you can get to it all the time.
"If you're going to buy a property in Spain, do your homework". Damn true. That involves learning the language.
@People Hater at least 2, not like you Britons that only speak damn English
@@ammarabbasi3230 I think People Hater was asking Pedro.
@People Hater I speak two (English and Spanish), can understand and speak a bit of Portuguese and, if you stretch it, a bit of Italian and French.
Correct. If your going to be serious, be serious
@@ammarabbasi3230 At least in the UK there are more laws to protect the purchaser.
Builders in Spain don’t put any foundation under the houses they build on the top of the ground , zero insulation, leaky roofs , settling cracks in walls , you roast to death in the summer , and freeze in the winter , there like a person with a load of make up on , they look great , but under it’s a distaster, if your looking at a house to buy look for this , not how the house looks .
I really want to move to Spain someday because I hate living in Ireland where it is rainy and only get a couple of weeks of sunshine in Ireland during the summer sure I know it may be hard to buy property in Spain but I’ll make sure that I get good property if I was going to buy there yet I can’t speak any Spanish I do really want to learn it tho I’m not sure which part of Spain but I’m thinking good places like Madrid, Barcelona, Salou, Valencia or Toledo
Madrid is the capital city of the country and is just in the middle of Spain, 4 hours away from Valencia, one hour away from Toledo and Avila. The weather it's very good, a lot of sun during the hole year, but to hot during the summer. The historical part of madrid is very expensive buy the
periphery is cheaper.
Barcelona has become an expensive shit hole lately
Not really very good with your blog, when you start with what happened to you, so i think that being made to look a fool, granted you got your house, but i won't be listening to you any more or your blog, Covid-19 struck, now Spain is the place to buy, Many bargains.
Have a nice day.
I am considering a home purchase in the Barcelona Province, but just looking at this point. I prefer a pre-existing house rather than a new build.
Spain is really a nice country and they have good music and sangría. But check out on a regular cruise trough the fields, how many ghost buildings are standing tall. A true evidence of rippin‘ off unsuspecting buyers.
There‘s a lot of corruption.
Hi, good video. I know that I have to come up with some down-payment for a house. Do you think as a foreigner, I could qualify for mortgage loans for any bank institution in Spain?
I’ll be brief don’t buy houses or bring money you are very likely to loose it all, if you like to play Russian roulette with your life you’re welcome to Spain
I am about to venture into buying a property in spain after renting here for over 2 years, noticed this video and will definately do my homework. My reason for deciding to buy is nervousness about the financial institutions after the corona virus period. Money can dissapear overnight but hopefully a property will will more permanent. Thanks again
I'm suprised no one has posted the names of reputable English speaking businesses they've used for their purchase. Find one yet?
Sorry but they're working on that one. I hope I'm wrong but I have heard that work is ongoing on tinkering with the age old fundamental concept of property ownership rights.
Spain gives Madrid, Barcelona, etc,.. what spain doesn’t want: the cash.,. When spain see that the cash is useful ask to Madrid and Barcelona to give back.,. That’s the trap of violence..,
Be aware of propertybank ! On a deal from 96.000 they give you 77.000! They drive a yellow ferrari the only one on tenerife!!!!!! They film you and try to blackmail you there are from cuba!
Based on this video, I saw nothing appealing about the landscape or houses in this part of Spain. The architecture of the homes was so flat and boring. What’s up with all the graffiti?
Hi just found your vlog and found it very interested to hear your views on life in Spain where I intend going in the next year, with the intention of buying land and living off-grid. Have you done any vlogs on the process of obtaining planning permission for small developments, in my case it may be a tiny home project. Thanks in advance. Paul