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Property purchase

Property purchase

Old Apr 29th 2011, 1:54 pm
  #1  
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Cool Property purchase

We are in the final stages of purchasing a property in Costa Blanca but we are unable to attend the Notary and we have no time left to get a power of attorney for our Solicitor.
But she says this is no problem we can fax her a letter saying that she will be a mandatory representative and our final payment can be transferred to their Bank Account in Spain. Then when we go to Spain in a few weeks time we go to the Notary with her and registration is completed then.

Any advice on this?

Many Thanks
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Old Apr 29th 2011, 2:26 pm
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Default Re: Property purchase

Originally Posted by AJM50 View Post
We are in the final stages of purchasing a property in Costa Blanca but we are unable to attend the Notary and we have no time left to get a power of attorney for our Solicitor.
But she says this is no problem we can fax her a letter saying that she will be a mandatory representative and our final payment can be transferred to their Bank Account in Spain. Then when we go to Spain in a few weeks time we go to the Notary with her and registration is completed then.

Any advice on this?

Many Thanks
My advice would be - NO WAY!

What's the hurry? Surely in a buyers market the seller can wait 'till you have the power of attorney or can attend in person.
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Old Apr 29th 2011, 2:30 pm
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Default Re: Property purchase

Don't do it
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Old Apr 29th 2011, 2:39 pm
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Default Re: Property purchase

Seems very risky to me, make them wait until you can go in person and deal with your affairs yourself.

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Old Apr 29th 2011, 2:48 pm
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Default Re: Property purchase

Yeah right, transfer it to my account instead and I will buy you a house.
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Old Apr 29th 2011, 3:29 pm
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Default Re: Property purchase

Originally Posted by AJM50 View Post
We are in the final stages of purchasing a property in Costa Blanca but we are unable to attend the Notary and we have no time left to get a power of attorney for our Solicitor.
But she says this is no problem we can fax her a letter saying that she will be a mandatory representative and our final payment can be transferred to their Bank Account in Spain. Then when we go to Spain in a few weeks time we go to the Notary with her and registration is completed then.

Any advice on this?

Many Thanks
As mad as it may sound its not that uncommon , the last place I purchased here was via a gestor! She had power of attorney and as I could not make the notary office , she did it all including drawing a huge ammount in cash from my bank as had I faxed the bank a letter

All went well
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Old Apr 29th 2011, 7:19 pm
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Default Re: Property purchase

Originally Posted by AJM50 View Post
We are in the final stages of purchasing a property in Costa Blanca but we are unable to attend the Notary and we have no time left to get a power of attorney for our Solicitor.
But she says this is no problem we can fax her a letter saying that she will be a mandatory representative and our final payment can be transferred to their Bank Account in Spain. Then when we go to Spain in a few weeks time we go to the Notary with her and registration is completed then.

Any advice on this?

Many Thanks
dont do it, whats the hurry ?
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Old Apr 29th 2011, 7:37 pm
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Default Re: Property purchase

Originally Posted by Rotor View Post
As mad as it may sound its not that uncommon , the last place I purchased here was via a gestor! She had power of attorney and as I could not make the notary office , she did it all including drawing a huge ammount in cash from my bank as had I faxed the bank a letter

All went well
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Old Apr 29th 2011, 9:05 pm
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Default Re: Property purchase

It is easy and quick to arrange a power of attorney. It is not so easy to unarrange and you may regret it.
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Old Apr 29th 2011, 11:36 pm
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Default Re: Property purchase

No,No,No.....don't do it.
Have you never heard about all the corruption in this otherwise wonderful country?
You may be lucky and get away with it, but many haven't!
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Old Apr 30th 2011, 4:59 am
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Default Re: Property purchase

Originally Posted by missile View Post
It is easy and quick to arrange a power of attorney. It is not so easy to unarrange and you may regret it.
In our purchase we gave power of attorney to our Spanish lawyer and he did everything including setting up our bank account,NIEs, direct debits for the utilities as well as the purchase itself. He remains a signatory on our spanish bank account and we trust him implicitly.
I did check him out beforehand with a couple of local British estate agents in the area.
Our purchase etc could not have gone more smoothly.
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Old Apr 30th 2011, 8:49 am
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Default Re: Property purchase

Originally Posted by johnnyone View Post
In our purchase we gave power of attorney to our Spanish lawyer and he did everything including setting up our bank account,NIEs, direct debits for the utilities as well as the purchase itself. He remains a signatory on our spanish bank account and we trust him implicitly.
I did check him out beforehand with a couple of local British estate agents in the area.
Our purchase etc could not have gone more smoothly.
Another brave punter who likes a gamble, though I'm sure that knowing two British estate agents recommended him must have been very reassuring.
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Old Apr 30th 2011, 9:33 am
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Default Re: Property purchase

Originally Posted by Dick Dasterdly View Post
Another brave punter who likes a gamble, though I'm sure that knowing two British estate agents recommended him must have been very reassuring.
I did know one of the agents personally. I don't think its the risk its made out to be if you carry out a check. I would be more worried about the status of a new build property and as my was built in the 19th century I didn't have that worry.
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Old Apr 30th 2011, 9:38 am
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Default Re: Property purchase

Originally Posted by johnnyone View Post
In our purchase we gave power of attorney to our Spanish lawyer and he did everything including setting up our bank account,NIEs, direct debits for the utilities as well as the purchase itself. He remains a signatory on our spanish bank account and we trust him implicitly.
I did check him out beforehand with a couple of local British estate agents in the area.
Our purchase etc could not have gone more smoothly.
How did you check him out?

I have a good solicitors in UK and Spain who I have used for many years. I would not trust either with power of attorney, unless I had no alternative.

House purchase / sale must be witnessed by a notary. You must make an appointment. I see it as prudent and no big deal to arrange a flight to be there on the day.

I am sure the vast majority of people who entrust their financial affairs to a professional have no problems. Just like the vast majority who buy in the knowledge that their house is not legal are able to get approval retrospectively. Not risks which I am prepared to take.

Buying a 19th century property has it's own unique problems. It will not protect you from land grab for example. I prefer to have a house built to modern standards. Each to their own.

Last edited by missile; Apr 30th 2011 at 9:44 am.
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Old May 1st 2011, 1:19 pm
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Default Re: Property purchase

Just as an aside, I remember reading of someone who had done this to complete their purchase, and many years later they discovered that the property was registered in their solicitors name at the land registery.
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