Marbella is a nightmare........
#1
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Joined: Mar 2015
Posts: 322
Marbella is a nightmare........
Please Please do not buy in Marbella as you could be buying one of the 16,500 illegally built homes. See link below.
Marbella under a cloud after Supreme Court strikes down town plan - Spanish Property Insight
Marbella under a cloud after Supreme Court strikes down town plan - Spanish Property Insight
#2
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Joined: Jun 2011
Location: Gibraltar
Posts: 396
Re: Marbella is a nightmare........
Any decent lawyer should be able to identify whether or not the house is illegal prior to purchase since the illegal developments have already been identified. There are plenty of legal homes for sale there which are not only safe to buy but surely stand a good chance of appreciating in value since 16500 homes are no longer marketable in the area (see theory of supply and demand for explanation as to why there could be a premium to pay for one of the many legal homes in Marbella).
#3
Re: Marbella is a nightmare........
Please Please do not buy in Marbella as you could be buying one of the 16,500 illegally built homes. See link below.
Marbella under a cloud after Supreme Court strikes down town plan - Spanish Property Insight
Marbella under a cloud after Supreme Court strikes down town plan - Spanish Property Insight
#4
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Thread Starter
Joined: Mar 2015
Posts: 322
Re: Marbella is a nightmare........
Any decent lawyer should be able to identify whether or not the house is illegal prior to purchase since the illegal developments have already been identified. There are plenty of legal homes for sale there which are not only safe to buy but surely stand a good chance of appreciating in value since 16500 homes are no longer marketable in the area (see theory of supply and demand for explanation as to why there could be a premium to pay for one of the many legal homes in Marbella).
#5
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Joined: Aug 2007
Location: Los Martinez
Posts: 858
Re: Marbella is a nightmare........
Sad fact is that most conveyancers don't give a damn if the property turns out to be illegal. If the gullible foreigners want to be parted from their money who are we to stand in their way seems to be the motto of many law firms, and why shouldn't we have a slice of it as well in fees?
The amount of ex pats I have spoken to who have had similar experiences is quite a few. Seven of them in my area alone, me included! Who trusted reputable solicitors and here I mean each of them used a different firm! to carry out proper checks and make sure everything is above board. Only to find several years down the line that the builder had not completed the requisite paperwork and we have all had to re-register with the catastral office and pay a fine for it not being done when we bought! In my case it was 2200€ in IBI payments (4 years countback) plus a fine of 1000€ for not doing this at the time of purchase!
Of course everything at the time checked out according to the lawyers, they are not culpable in their eyes, neither the estate agent, the notary or the mortgage company. In my eyes all of them are complicit in what is a legal minefield, it does make one wonder why people still buy in Spain.
The amount of ex pats I have spoken to who have had similar experiences is quite a few. Seven of them in my area alone, me included! Who trusted reputable solicitors and here I mean each of them used a different firm! to carry out proper checks and make sure everything is above board. Only to find several years down the line that the builder had not completed the requisite paperwork and we have all had to re-register with the catastral office and pay a fine for it not being done when we bought! In my case it was 2200€ in IBI payments (4 years countback) plus a fine of 1000€ for not doing this at the time of purchase!
Of course everything at the time checked out according to the lawyers, they are not culpable in their eyes, neither the estate agent, the notary or the mortgage company. In my eyes all of them are complicit in what is a legal minefield, it does make one wonder why people still buy in Spain.
#6
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Joined: Feb 2011
Location: Mallorca
Posts: 19,367
Re: Marbella is a nightmare........
There is form that certain councils may change their mind long after a property has been "legalised" on paper. Anyone doing the proper research may find all evidence that a property is fully legal, yet at the end of the day, somewhere, someone may decide it isn't for whatever reason...