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 Don’t go it alone in Spain
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Monday, April 02, 2007 |
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Investors should always take the utmost care when buying property in Spain, Homes Worldwide advise...
Buyers of Spanish property are being urged to prepare their investment carefully and employ a good lawyer or use a member of Federation of Overseas Property Developers, Agents and Consultants (FOPDAC).
A Spanish property investor should always use an independent lawyer to conduct the sale, especially as they will be able to check that planning permission and building licences have been obtained.
Another way of ensuring success is to buy property built by a developer that is a member of FOPDAC, a respected organisation that has a strict guidelines and rules.
Craig Stocks, from Eden Villas, which is a member of the federation, said that although no market is "100 per cent", the Spanish market is generally "healthy".
"Tens of thousands of UK residents move to Spain each year and a small minority incur problems," he added.
Investors have been advised by the European Estate Agents Union to make sure that their newly-acquired property has planning permission.
The warning follows concerns that a number of properties have been built on agricultural land in Spain without the necessary license required for first occupancy.
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