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Buying - Community of Property Owners.

Buying - Community of Property Owners.

Old Apr 7th 2019, 2:37 pm
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Default Buying - Community of Property Owners.

Can someone advise please if and how a person can check the status (financial health) of a community in which they see a property for sale. Non payers/ plans for painting the complex, upcoming charges for maintenance etc.
I do not see this on many of the on line check lists advising people on Spanish property purchase.but it has to be hugely relevant before you would commit to purchasing ?
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Old Apr 7th 2019, 4:35 pm
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Default Re: Buying - Community of Property Owners.

Originally Posted by martin21 View Post
Can someone advise please if and how a person can check the status (financial health) of a community in which they see a property for sale. Non payers/ plans for painting the complex, upcoming charges for maintenance etc.
I do not see this on many of the on line check lists advising people on Spanish property purchase.but it has to be hugely relevant before you would commit to purchasing ?
Ask for the Minutes of the last two or three AGMs - the Administrator for the Community will have them if not the owners from whom you are buying. The Minutes will list debtors, budgets, expenses and annual fees.
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Old Apr 7th 2019, 5:38 pm
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Default Re: Buying - Community of Property Owners.

Originally Posted by martin21 View Post
Can someone advise please if and how a person can check the status (financial health) of a community in which they see a property for sale. Non payers/ plans for painting the complex, upcoming charges for maintenance etc.
I do not see this on many of the on line check lists advising people on Spanish property purchase.but it has to be hugely relevant before you would commit to purchasing ?
Your agent should be able to get all this for you - make them do some work for a change
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Old Apr 7th 2019, 7:31 pm
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Exclamation Re: Buying - Community of Property Owners.

Originally Posted by snikpoh View Post
Your agent should be able to get all this for you - make them do some work for a change

Thank you both for your replies.Its a Bank property so ill have to try the agent again.I have asked on two occasions.
I assume you would not be expected to place a deposit on a property in a Community about which you only had a visual knowledge of .
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Old Apr 7th 2019, 8:19 pm
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Default Re: Buying - Community of Property Owners.

Originally Posted by martin21 View Post
Thank you both for your replies.Its a Bank property so ill have to try the agent again.I have asked on two occasions.
I assume you would not be expected to place a deposit on a property in a Community about which you only had a visual knowledge of .
No you should not - if you have to leave a deposit because you are keen to buy get a lawyer and put the money in an escrow account . Re - AGM Minutes. Is there a Community noticeboard with contact details for the Administrator , normally a management company and they must have all the Minutes
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