Buying Property in Spain? BEWARE of These Hidden Risks!
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- Опубликовано: 27 сен 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
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.
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.
Never buy off plan and never eat yellow snow!!
In that order?
@@adrianred236 lol 😜
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 .
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 😀👍
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
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.
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.
Buy a house that’s already built ... in a mature area. Good advice !
Thank you for your honesty about the housing.😊
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
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.
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... ?
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!
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
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.
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.
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.
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.
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.
"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.
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
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.
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
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.
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.
Con este gobierno MUY ARRIESGADA
SI NO CAMBIAN NO CONVIENE INVERTIR
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...
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...
I would love to have my own house in Spain.
Immigration is much more difficult now, after brexit.
hello,i hear about squatters problem,meaby you can make one vlog about this situation please
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 .
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?
It’s quite simple really do your research and quality legal advise. I think the general rule of thumb is if it sounds too good it probably is.
Always do your homework, research, find a lawyer to check the agreement before signing it.
Thank you for sharing
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.
Great video, and very good advise 👍
Buying a property in Spain “on plan “ is not for the faint hearted ,even the locals get ripped off . Second hand much easier as long as you work closely with a competent lawyer or “ gestor “ and that has NO connection with the builder / promoter / estate agent . Beware of the taxes you have to pay when buying and selling .
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.
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...
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.
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.
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.
Good advice 👍
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
Older property V new property I agree with you! as a lot of the problems in the economy crash previously were caused by "off plan" developers.
That was just the backdrop. There is nothing wrong with buying off plan from a security point of view.
The real problem was the banks not observing the law on deposits.
I bought off-plan in 2005...Builder went bust, Lawyers went bust ! (Aldea Assesores) after 12 years the interest on the 50k was nearly as much as the debt..took it through Court were Banco Popular pushed me as far and as long as the could (you pay your own costs in Spain) after over 12 years I was given my deposit back - my Lawyer kept the interest in charges (37,000€) nice !
Assessores are lawyers? While they might work with lawyers they are agents... In other words middlemen.
You used to have a right to have the bill costed in Spain.
A lawyer cannot legally " overcharge".
Yes buyer beware. Could recommend PSI Consultants in Orihuela Costa as we used for buying and selling as they were English speaking and very professional. They had power of attorney as we were not in Spain full time.
But you were a buyer to them. Did you beware?
Point.... You are going to have to trust someone. You trusted a"consultant"..... whatever that is?.
What does "professional" mean anyway?
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
The rain in Spain falls mainly on the plane. You have nothing to gain by going to Spsin.
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.
There are around 300.000 empty homes in the UK. There are 3.8 million empty homes in Spain. Spain's economy is way too dependent on construction.
The real scumbag are banks in apain
Ain't anymore.
From a Portuguese bloke: you were lucky on your Portuguese deal. Lots of dodgy businesses around here too. And property in Portugal has an inferior price quality relatiobship when compared to spanish property construction quality, project and materials
And Portugal is closer to seismic activity, more powerful earthquakes.
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 RUclips 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.
Interesting video thanks for sharing. I've never been to Portugal but I love visiting Spain
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 purchased 17 properties, a mix of flats, fincas, stand-alone homes and land, the sketchiest was buying from builders- they really don't have respect for time and or promises.. I am working on two that have draged 2.5 years now.
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
🤣🤣🤣 BYEING IN SPAIN NOW IS JUST CRAZY BUT REALLY REALLY CRAZY
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
One of the issues I have is the "non-refundable" 3,000 euros deposit a lot ask for. Yet there are often problems that drag the sales on sometimes.
Yes, a very important point that gets very little mention. I recently put a deposit down on an apartment just before the Corona virus outbreak. Lawyer is pressuring me to close on the deal. I explained I wanted to hold off because of the current situation and he then informs me that I could lose my deposit if I don't close on the agreed date. That's a serious chunk of change to get flushed down the toilet :(
@@Lee-xw7pn you were unlucky.
You could try to renegotiate the final purchase price for at least that amount.
With the way things are going now the seller might find it hard to get another buyer..
This is unlucky because you have been badly informed. The way it works here in Spain is that when you want to buy a property, you have to do what they call a "reserva", that is a reservation for the property. And what this really means is that you pay a sum of money, usually between 3,000 and 5,000 EUR, to reserve the option to buy that property. In the contract of pre-sales that you sign, it stipulates that you have a period of time with a date (usually 3 months) to buy this property in front of a notary. It means that during that period of time, the seller has the obligation to sell you the property at the agreed price. If you decide not to purchase that property during that time after signing that pre-agreement, you´ll lose this sum of money. On the other hand, if you go ahead and purchase it, the amount of money you paid will be deduced from the real estate price that was agreed. Hope this helps!
A lot of scammers in tenerife! Dirk ady otten ex time sharing! Takes 20% on a sale! Lives in san isidro!
Where is this? It doesn't look like a coastal area. No palm trees or such type of vegetation
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 !!!!
Your Road's are better then the UK
Can you make a vídeo explaining what the IBI is?
Title search and escrow is not required and therefore automatic?
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
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 bought in Spain 5 years ago. I made an offer on 14 February and was sitting in the Notary office three weeks later handed over cheque and got the keys. No hassle no solicitors doing their best to find problems and justify their fee. By the way we did spend over a year looking for a property and rented in three different locations.
You forgot to tell where this area is
When was this video made ?
When are people comming to Tenerife, I have one appartment for sale. 1 bed with big balkon and garden
How much?
@@fallendemonangel1 Sold for 165,000 euro.
In Tenerife?
You know how the laws are?
When people do not know much they get surprises. Also in Tenerife with all the problems they have.
I allways wonder why people even sell their houses in Spain. I allways think...what is behind it, the seller does not tell you.
It’s such controlative country.., mandatory id card, lot of taxes by everything.., maybe in coast places things are better..,
I buy and rent out in home in Finland and every winter 2-3 months we spend on Tenerife using Airbnb. I lived 5 years in Italy, its nice yes but not easy, same Spain. You would not enjoy there all year around without good casflow from somewhere else.
Hi, how would you compere Italy to Spain, which one do you prefere? Do you mind mi asking where you lived in Italy? Cheers
@@zinebibanez8440 no problem. I lived in Toscany, near Firenze and worked as chef between 2008-2012. Shit salary, then was like 6€ a hour. Work every day only they give jou monday off, and local seemed use to this. I have no work experience from Spain, but as much I heard it is same or worse. BUT I must addmit, that considering language, food, culture...I LOVE ITALY!!! Only reason I spend winters on South-Tenerife is simply tropical climate. Italy is cold on winter, only ok place is Liguria, it is Genova and all the way to Monte Carlo. All burocracy and stuff is more or less the same as my experience. Italy is absolutley a place to live, BUT not place to work as Spain.
What about rent in your area. Eksampel. 2 bed appartment. Price
Rent for the first year or two, don't buy.
This is from 2019?
(Hoy April 9)
Im shocked to hear the risks to buy property in Spain. The problems seem similar to 3rd world countries...
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....
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..,
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?
At least they drive on the proper side of the road.
And is it possible to buy land and put a log cabin on it, thanks again
That depends. Land in Spain has a 'destination', a 'purpose'. Say the land you are interested in is registered as 'farmland', then I think no. If it's registered as 'rustico', which is 'rural', it's a problem too. If the land is registered as 'urbano', urban, you can. It might be possible to ask for a change of 'destination', but that ain't easy and is often denied. You need a lot of good arguments and maybe 'friends' to change the destination. When you are interested contact the office of cadastre (catastral).
Some years ago a friend of mine sold his villa in Spain, he said the Spanish Government kept a percentage of the money he received for his property. Is this correct?
Yes. It’s a tax due on the sale of the property.
Yes it’s to pay for the Mayor’s new car. Lol
@@joebloggs8292 😂😂😂
Have you mastered Spanish yet?
What's the difference between off plan and normal house in Spain?
@Mr Olsen why
@Train Crash Ahead the usual rule with EU countries is the anyone from anywhere can buy, but I m not saying that the EU mandate that.
If necessary, a certificate of permission can be sought.
The main thing is to retain your own abogado.
Why during XX century celebrities like Ava Gardner, orson weles, Che Guevara, etc.,. Buoght properties in Spain¿
¡ would like to go to more liberal places, this is almost Russia.,.
Hi thanks for the video.
How much cost a lawyer?
JUST MAKE SURE YOU GET GOOD TRANSLATORS. NO ONE NEEDS A SOLCITOR TO BUY PROPERTIES IN SPAIN. GET READY TO SPEND AROUND 10.000EUROS IF YOU HIRE ONE. AND ALL FOR NOTHING
alsi what do you think of bribery of some officials to make things fly faster.
That will get you arrested.
@@plusultra6199 there are gift and good manner so you will not be doing like official bribery rather then good gesture. you know what i mean
Excuse me. I mean no disrespect, but you did buy property in Portugal but settled in Spain instead. What's up with that.? I would rather live somewhere with the least bureaucracy and hassles when buying a home. If why Spain and not Portugal.?
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
Spain is the best place to everything!
Don't buy one, the market is going to go off a Cliff, this time, no fix.
@trev or it'll be chaos, although a British guy bought a whole Apartment block in Beirut during the War there in the eighties,both sides left him alone and he later sold up for an extreme profit.
@trev or Only the big cities can be seen as an investment because you have rental potential and jobs in these places. That keeps the value of the property. All the rest in Spain never recovered the crisis of 2009. And a big chunk of Spanish property is losing value y o y
Risky