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Buying old Finca

Buying old Finca

Old Jan 25th 2012, 1:26 am
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Default Buying old Finca

Hola everyone!

We are planning to buy a finca/country house in close to French border. I am surprised that I found few old finca's starting from 30k onwards with olive lands around! Is this for real?
Of course the state of the houses are really bad some just ruins, no electricity, water etc but thts fine as we want to buy an old run down place and work on it slowly slowly, it will take few of years because of the finances and time. We are going to make an eco freindly house.

Does this price sound okay? 50k for 2 hectors of land and a farm house(run down) with 2 bedrooms(no bathroom though) total rustic.
Are there any essential stuff we need to find out before we buy? Dont want to end up in a position where gov tells us we need to knock the house down or have to return the land etc etc.
We have no experience so any help will be great! We are originally from Germany but living in Australia at present and plan to move back to Germany 2013. Going to Germany and Spain in couple of months.

Gracias!
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Old Jan 25th 2012, 6:08 am
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Default Re: Buying old Finca

Originally Posted by punoo View Post
Hola everyone!

We are planning to buy a finca/country house in close to French border. I am surprised that I found few old finca's starting from 30k onwards with olive lands around! Is this for real?
Of course the state of the houses are really bad some just ruins, no electricity, water etc but thts fine as we want to buy an old run down place and work on it slowly slowly, it will take few of years because of the finances and time. We are going to make an eco freindly house.

Does this price sound okay? 50k for 2 hectors of land and a farm house(run down) with 2 bedrooms(no bathroom though) total rustic.
Are there any essential stuff we need to find out before we buy? Dont want to end up in a position where gov tells us we need to knock the house down or have to return the land etc etc.
We have no experience so any help will be great! We are originally from Germany but living in Australia at present and plan to move back to Germany 2013. Going to Germany and Spain in couple of months.

Gracias!

Firstly, welcome and the best of luck with your plans.


My biggest piece of advice is to make sure that everything is legal. For example, make sure that you have all the necessary paperwork (escritura, habitation licence etc.) and then check that what you want to do with the place is allowed by the local town hall.
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Old Jan 25th 2012, 6:33 am
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Default Re: Buying old Finca

Gracious Snikpoh

There is this one place we are very intrested in which has no eletricity or water. Was thinking of using solar panels and currently they use rainwater collection cisterna. Although this house does not have a habitation licence as there is no bathroom...this is a bit confusing...does it mean once we built a bathroom we can apply for the habitation license?
Need to find out what escitura is!
Thanks again!
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Old Jan 25th 2012, 7:00 am
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Default Re: Buying old Finca

Hi Punoo

Two things
A fool and their money are soon parted
Lamb to the slaughter

Best advice I can print (or is this a wind-up)

Davexf
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Old Jan 25th 2012, 7:23 am
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Default Re: Buying old Finca

Originally Posted by Dxf View Post
Hi Punoo

Two things
A fool and their money are soon parted
Lamb to the slaughter

Best advice I can print (or is this a wind-up)

Davexf

Is that suppose to be an advice? THANKS!!!!
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Old Jan 25th 2012, 7:33 am
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Default Re: Buying old Finca

If something is too good to be true then it is! Spains house buying laws and renovation/building rules are a nightmare and open to corruption, so not something to be taken on by those of us who dont understand in depth how it all works. Even different areas have different rules. Before you do anything , you need to read up as much as you can on the subject.

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Old Jan 25th 2012, 7:48 am
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Default Re: Buying old Finca

Take good independent and local legal advice. Also remember that even if the plot is huge the amount of building permitted might be quite small. But yes there are many very low priced properties in very rural areas available because not many people want them, especially in the northern regions and also Extremadura. But with your rural green approach they might be right for you as connection to mains water and electricity is probably hugely expensive. I wouldn't expect too much high speed internet either!
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Old Jan 25th 2012, 8:07 am
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Default Re: Buying old Finca

Thanks Jo...I have started doing my home work.

Spainrico, Thanks a ton! We are just looking for a small property found 1 bed or 2 bed property in real bad state...the exciting part is to change the inside.
As this will be our holiday house where we go to get away from everything and where kids can just be in nature it sounds very tempting and yes we would like to go with rural green approch.
Have found many in catalunia area thans for the tip will check out Extemadura area too.
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Old Jan 25th 2012, 8:44 am
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Default Re: Buying old Finca

Wherever you choose to look, check out altitude and winter conditions. Inland Spain can get surprisingly cold in winter, especially (for obvious reasons) uplands and land close to mountains.
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Old Jan 25th 2012, 9:22 am
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Default Re: Buying old Finca

Originally Posted by punoo View Post
Need to find out what escitura
The fact that u don't know what an escRitura is, means that u really are green!

But we all have to start somewhere. It's possible that the price reflects good value.

As a starting point and to eliminate potential properties from your buy list, I would do the following........(online)

Check the Catastro, if the plot is as descibed and there is a house on the plot and it's descbibed as a house (not an almacen or nave or something else), proceed to next stage. If no house, not worth the hastle.

Check the Registry, nota simple to prove ownership, etc. Lots of old properties are not registered, so again not worth hastle if not registered. To get a mortgage, house must be registered.

the catastro details and the registry details should be similar, but not necessarily identical.

After that, get the planning rules from the townhall, indicating the rules for that zone, min size of plot required, max size of house, materials that can be used, etc.

Good Luck, it seems like a nice project but will be far more difficult than you anticipate, unless you hire someone with specialist knowledge to help.
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Old Jan 25th 2012, 9:53 am
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Default Re: Buying old Finca

Originally Posted by avocados View Post
The fact that u don't know what an escRitura is, means that u really are green!

But we all have to start somewhere. It's possible that the price reflects good value.

As a starting point and to eliminate potential properties from your buy list, I would do the following........(online)

Check the Catastro, if the plot is as descibed and there is a house on the plot and it's descbibed as a house (not an almacen or nave or something else), proceed to next stage. If no house, not worth the hastle.

Check the Registry, nota simple to prove ownership, etc. Lots of old properties are not registered, so again not worth hastle if not registered. To get a mortgage, house must be registered.

the catastro details and the registry details should be similar, but not necessarily identical.

After that, get the planning rules from the townhall, indicating the rules for that zone, min size of plot required, max size of house, materials that can be used, etc.

Good Luck, it seems like a nice project but will be far more difficult than you anticipate, unless you hire someone with specialist knowledge to help.
Gracias Avocados!
This is an eye opener.....I have no idea what all is this....I thought the process will be simple, buyer ask for a price you pay the price and notaire does all the papper work etc etc.... and than we go there every summer to renovate the house slowly slowly.
Most of the properties I am looking at are described as Finca, Or Finca with casita or casa de campo
Looks like it is much more complicated than I imagined!
Do you know of any good site from where I can get all the information?
Thanks again.
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Old Jan 25th 2012, 10:01 am
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Default Re: Buying old Finca

Be very careful!! The chances are a lot of these properties are not legal, and your "Bargain" property might end up costing you a fortune.
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Old Jan 25th 2012, 10:34 am
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Default Re: Buying old Finca

Just remember buying and renovating a property in Spain is absolutely nothing like doing the same in the UK!!


jo xxx
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Old Jan 25th 2012, 10:39 am
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Default Re: Buying old Finca

Originally Posted by jojojojojo View Post
Just remember buying and renovating a property in Spain is absolutely nothing like doing the same in the UK!!


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.... or even Australia!
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Old Jan 25th 2012, 10:41 am
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Default Re: Buying old Finca

Originally Posted by snikpoh View Post
.... or even Australia!
....... or even Australia

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