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Viva-Granada :: View topic - Simple house buyer rules.
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Simple house buyer rules.

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BPS
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Joined: Mar 24, 2008
Posts: 1

PostPosted: Tue Mar 25, 2008 1:11 am    Post subject: Simple house buyer rules. Reply with quote

<font class="content">[color=red:a98d3cc9a1][/color:a98d3cc9a1]Firstly let me warn you that I am an estate agent, but when you read this you will also see that I cannot catch you out if you follow what I advise. I know that many agents will hate me for this, but thats their problem.

1) Whether an agent has checked the paperwork or not means nothing. eg I have two papers in my possesion that look the same and are building licences. One is genuine and one is not. The only differences are the type face, size of signature and very good false stamp. Not forgetting that the town hall number was actualy found to refer to a death certificate ! An agent would not know this.

2) Employ a good lawyer. Ask around, most foreign residents are only to willing to help. You will soon hear the same names cropping up, good or bad. Look for a lawyer who guarantees his work. Not very many. Mine does. However an independant lawyer is best, and preferably one outside the area you are buying in.

3) Do NOT, I repeat NOT, hand over any money to anyone,except your lawyer, and that includes the deposit. If you do you will not get it back even if the problem with the house is not your fault. The lawyer should not hand over any money until he has checked all the papers, escitura, registry and nota simple which is basicaly a debt check and property check. If you lose the house because it takes a week, so be it. Better to lose a small amount to a lawyer for a few days work, than thousands to a seller and/or agent. It's disappointing, but not as disappointing as a large whole in you dream home budget.

3a) Do not be sucked into the 3000 holding deposit trap. This is only playing on your dream and nerves. Hold out for that lawyer check, PLEASE.

4) Don't be pressured. If you are not sure, say so. If it means you have to fly out again, do it. It's cheaper than losing thousands on an illegal property, or finding that the property is not right for you after you have paid the deposit.

5) If an agent is not willing to let you take your time, walk away. I know of one very large, international and well known agent who allows an average 15 minutes to view each property per client ! It can take that long just to take in the view. I spent 7 hours on the last property sale and am set to spend that long again this week on helping with mortgages, building materials etc, and will almost certainly spend 4 or 5 times that in the coming weeks. This is after the buyer has agreed to buy the house and the papers have been checked. That is what I am paid for.

Good luck to all you prospective buyers. Whether you buy from us or someone else, I hope you enjoy your new life in Spain as much as we do.

Remember, the proportion of buyers that are happy with thier purchases and new lives, far out weighs the numbers who have or have had problems. Good news does not make good TV or sell newspapers.</font>
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casafruitas
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Joined: Jun 29, 2006
Posts: 59
Location: 2yrs 10months away from Spain!

PostPosted: Tue Mar 25, 2008 4:06 am    Post subject: Reply with quote

<font class="content">Just because you are an agent, doesn't make you a bad person icon_biggrin.gif . I know of a couple local ones who will bend over backwards to help and act far and above their call of duty...you are not alone out there!

Your advice reads good and like you say, other sharks (sorry, agents) will turn in their grave for you speaking up. Good on yer!!</font>
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heath1974
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Joined: Apr 17, 2007
Posts: 14
Location: Castillo de Tajarja - http://www.granadapropertyreform.com

PostPosted: Sat Apr 19, 2008 2:05 am    Post subject: Reply with quote

<font class="content">Good post and sound advice. icon_biggrin.gif

It's also worth adding that one should explore everything needed if planning to buy a reform property.

By the sound of your post I would imagine that you would advise your clients what legal requirements and permissions need to be obtained before embarking on a "fixer-upper".

I come across so many clients that have been sold a property, needing work done, but the agent's got their money and wants nothing else to do with them.

If I see "needs a little TLC" much more I'll scream!! Some of these properties should read "actually it would be cheaper to knock it down and start again". icon_wink.gif</font>
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ICCSL
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Joined: May 08, 2006
Posts: 8
Location: El Contador

PostPosted: Mon May 19, 2008 10:38 pm    Post subject: Buying property Reply with quote

<font class="content">I guess that all of your advice is good if you can trust the lawyer you employ. There are thousands of home owners in Andalucia who have had lawyers check their paperwork and are still in possession of illegal houses, some that are destined for demolition. Those lawyers also handled the purchasers' money.

There is some very practical advice here but would apply given a system that isn't corrupt. As will be seen from the number of town hall officials, lawyers, developers etc., currently in prison or pending court hearings I very much doubt that there are many professionals in this country who can be trusted. It would appear also that the general public is totally lacking in trust since the housing market has practically ground to a halt.

I looked up your profile BPS and do not see a website or any information about who you are. Are you for example registered as an agent, how long have you been one and how long have you been in Spain? What qualifications do you have?

Most real agents would do what is best for their clients by whatever method possible. All real agents get lawyers to check the paperwork out after the agent has obtained said paperwork. I think you presume too much when you say that an agent would not know the difference between a forged copy of a building licence and a real one. The agent can easily check with the town hall which issued it and ordinarily would do so.

Most foreign residents listen to gossip and hearsay. That gossip and hearsay is then added to. I am personally the subject of much gossip in my area and even outside of it. Most of the people who talk about me have never met me and would not know me if they passed me in the street. However, I am able to provide inumerable references spanning many years from clients existing and past. The worst type of foreign resident is the one that loiters around bars all day with nothing better to do than gossip about people he / she is jealous of. Boredom manifests itself in many different ways.

In terms of a deposit, I could get several people to contribute to this forum who have lost houses they dearly wished to purchase because they did not place a deposit down. In all contracts there is a clause stating that should the information not be correct or the vendor does not complete in time the purchaser will have his deposit refunded. If the paperwork is illegal, forged or whatever, this means that the vendor cannot complete and therefore the deposit is refundable.

No good agent would pressure a client into purchasing.

The time a purchaser can take is not defined by the agent but by the vendor. If the vendor has more than one offer then the agent should, in the interest of both vendor and purchaser be truthful about the situation. For example; if a vendor has more than one offer and the vendor wants to sell quickly, could you allow your purchaser to clock up lawyer's fees and spend time when in reality you know that the vendor will sell to the first person who places a deposit down? Or would you let your purchaser throw money down the drain without telling him / her the truth?

However, in the current market there is not much chance of anyone fighting over a property. It just depends on how much you want a property as to how you proceed. If you go with a registered agent, that agent is bound by law to behave in a professional manner. No professional agent would object to a posting such as this but not all agents would agree with everything that has been posted more especially those that have been in business for many years.

Good news does not make good TV or sell newspapers but I wonder how many Brits living in Andalucia are happy with their purchases given the current government's handling of the illegal build scenario. I suspect that those who are considerably stressed and worried, despite having lawyers and doing everything by the book, far outweigh those who are happy.

Also with the enforcement of Decreto 218 the government is leaning toward making agents responsible for what they sell (let's face it they need to hang the blame on someone) so all those agents out there who are not in compliance should now become very worried. Are you in compliance BPS?</font>
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ICCSL
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Joined: May 08, 2006
Posts: 8
Location: El Contador

PostPosted: Sat May 24, 2008 3:44 pm    Post subject: Buying rules Reply with quote

<font class="content">I don't know why it is that often my posts seem to grind conversations to a halt.

Perhaps BPS is on holiday.</font>
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pwwm
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Joined: Mar 06, 2007
Posts: 61
Location: Albunol

PostPosted: Sat May 24, 2008 9:10 pm    Post subject: Reply with quote

<font class="content">The agent we used five years ago offered the earth and once we purchased dissapeared having done nowt.

We did not put down a deposit, this was agreed with the vendor and ourselves as they had catastral problems and this was going to take some time to sort, we did have a private contract which we all signed. Once the problem was sorted then deposit was put down and six months later we moved in, but there were still soem problems so the vendor asked us only to put %50 of the money down. We offered more but they were happy as they needed the money fora new apartment they were buying, to this day we still chat when we meet, by the way they are Spanish.

A friend of ours has just sold his house to brits, who have messed hom around but the agent in that case was excellent, not her fault they are like they are.

Afew years back we also bought a small place to make a bit of money, now I know you are going to say what about the taxes etc, we have done nicely thank you icon_wink.gif

pwwm</font>
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ICCSL
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Joined: May 08, 2006
Posts: 8
Location: El Contador

PostPosted: Sat May 24, 2008 10:26 pm    Post subject: Deposits Reply with quote

<font class="content">In the current marketplace I doubt very much whether it would make a difference whether someone places a deposit down or not because there are not that many buyers around.

However, if you do not place a deposit down, the house remains on the market. If you are prepared to take a risk of losing the property then naturally it is fine not to pay a deposit. It is very, very unusual for a contract to be signed without some form of deposit so you have been lucky pwwm.

Property is still a good investment if you are able to wait for an improved market before you sell and it is nice to hear from someone who has achieved a reasonable profit. Well done pwwm.</font>
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sharonthompson
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Joined: Aug 15, 2008
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PostPosted: Tue Mar 01, 2011 10:19 pm    Post subject: Reply with quote

<font class="content">ICC SL, are you still around?</font>
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