I'm getting very confused, I've been to see houses in Calpe and Morairia and they appear to be urbanised, but I know there is a charge hanging over one of a possible 30,000 e, it has it's nota simple, it shows that the land is parceled into 5 units and only 2 have been built, but this was in the 1970's.
I read somewhere that it is on a pro rata to the size of the plot, is this correct or could I end up paying far more when eventually the ifrastructure is in place?
Should I bother with these houses (I do like One of them a lot).
How much lower do I offer from the asking price, I don't want to insult anyone, but things are difficult and it appears that the prices haven't particularly dropped to match the situation.

Very worried about an estate agent in Morairia that's offering people's houses by taking over their mortgage..seems very odd to me, the house wouldn't be in our name, but we pay the mortgage, good god I'd be scared stiff of taking on something like that, or letting my house go that way as well, times are so very hard for some people, we're be back to the poor house era soon!

If in doubt....DON'T

There are plenty of bargains to be had so don't rush into anything. Make enquiries, ask around locally. See if the urb has a website, some do. Personally I wouldn't buy on an urbanisation after what I have learned through trial and error. We almost did but they ran over contract and with other things which just weren't right we changed our minds and are now renting...and happier here Good Luck

Well I can tell you from personal experience to look elsewhere, its likely that the properties are not legal
The reason being, is that when we bought our plot it was on an area that was sectioned into three big plots. But we didnt want a big plot so the builder said he would get it re segregated into 5 plots. So to cut a long story short we went ahead only to find that when we came to take over the house it was still 3 plots. Therefore the land couldnt be registered properly, and people in the other houses were refused mortgages because of it.

Luckily we managed to sort it eventually but it took the best part of 3 years, two solicitors and a €3000 solicitors bill

Theres plenty of property around ....... get something that wont cause you so much stress

[QUOTE=hallega;7320858]I'm getting very confused, I've been to see houses in Calpe and Morairia and they appear to be urbanised, but I know there is a charge hanging over one of a possible 30,000 e, it has it's nota simple, it shows that the land is parceled into 5 units and only 2 have been built, but this was in the 1970's.
I read somewhere that it is on a pro rata to the size of the plot, is this correct or could I end up paying far more when eventually the ifrastructure is in place?
Should I bother with these houses (I do like One of them a lot).
How much lower do I offer from the asking price, I don't want to insult anyone, but things are difficult and it appears that the prices haven't particularly dropped to match the situation.

Very worried about an estate agent in Morairia that's offering people's houses by taking over their mortgage..seems very odd to me, the house wouldn't be in our name, but we pay the mortgage, good god I'd be scared stiff of taking on something like that, or letting my house go that way as well, times are so very hard for some people, we're be back to the poor house era soon![/QUOTE]

Just to let you know that this is a fully legal operation that a lot of spanish and english agents are doing. The let to buy scheme allows those with a Spanish property that has mortgage arrears to essentially offload the debt by contracting it over to a new owner, the potential new owner will agree to bring all property arrears up to date and service the mortgage for a contractually specified period of time (normally 4 years). Therefore the present owner will be free of the monthly burden and the new owner will have use of a Spanish property without having to part with a substancial deposit. At the end of the agreed contract term the new owner has the right to fully buy the property for the outstanding mortgage value at that point. Its to help people who are at risk of repo and is actually proving quite successful.

How do I know if their legal then, what sort of paperwork do they have to have?

Solicitors are involved and they draw up the legal side of things. I'm not saying it is the way forward, although i do know a lot of people in the Calp/moraira area that it has helped. I am just pointing out how the process works...

RE Prices havent dropped:

I have just had a property surveyor in my house and he tells me that property prices have dived in this area (CB North). There are bargains to be had .... you just need to negotiate

RE legality ... you need to check it has its title deeds (escuitura), certificate of habitation (Cédula de habitabilidad) etc

Dessirree: is this on the same basis as buy to let in the UK where you own the property but the bank has a charge ..... I cant really envisage paying for a house but not having my name on the deeds!

Hi, its not buy to let, its a delayed option to purchase. This website will explain it far better than i could. It is something where the banks work with the agent, its just all about minimising the amount of repossessions.

http://www.bmvpropertyspain.com/leas...n_contract.php

Get a solicitor involved. I would recommend McGrenra Gonzalez in Moraira.
They are a husband and wife team, him a Spanish abogado and her an English lawyer, I have used them twice and been very happy.

As for price, look around all the websites take note of prices for equivalent sized plots and builds and then put an offer in for about 20-30% less than the cheapest you find. I know what you mean about insulting people, but if they sniff a buyer and are keen to sell they will negotiate. No point going in at a sensible polite price and finding out you could have saved 20,000 euros.

That sort of money saved could buy you a wardrobe or two!

Good luck!

Ste.

Thanks everyone for your time, did you mean wardrobe or what goes in it.

I'd prefer the "what goes in it" bit!!!

By urbanisation I didn't mean where you have to pay a yearly fee for maintenance etc., I just meant legal, although it appears that if the house was built many years ago it probably wasn't in the first place.
Trust me to want something awkward! 23 years ago I bought an agricultural property, try getting a mortgage on that easily, the banks didn't want to know, I had to go to the bank of America!
I am a farmer..I had 1 sheep for 10 years and went off lamb for about 20!

This is why most old hands on here will advise you to sell up and come over but rent for 6-12 months. There are lots of property to rent in an area you fancy.Then you can look around with a clear head and take legal advice. Remember also here in Spain a lot of Spanish lawyers tend to ask few questions, Do your research and note down what you want to know or are unsure about and ask Him/Her to find out and get the answers in writing. Remember the Solicitor is not doing you a favour a house purchase is a big chunk of cash, He-She works for you remember you are paying their fees. The Estate agents here tend to open the front door and leave you to it, They don't give the property the big sell as in the UK. Don't jump in a buy the first house you fall in love with, And go back in the evening and during various times of the day to see what the area is really like. In Spain you can wait 4-5 years to sell a house its not like the UK, Take your time and bargain hard as my old grandfather used to say..... Lionel my boy if you have cash on the hip you can go shopping anywhere,....Now where's your father with the Volvo already Anyway I wish you luck, Myself I am very pleased with myself having just spent three hours taking a metal chimney stack down, Unblocking the master bedrooms log burners chimney and got a bag full of black diamond like crystals out of the bend which was totally blocked, Bil was right again. Anyway I digress make the move come over, You will never look back. Best of luck to you and yours.

Glad to hear you sorted that problem. Bear in mind it's a potential and very real killer, and keep an eye on it all all times, and clear it regularly.

Mitz, if my memory serves, and you have a mortage, the bank or whoever effectively has the deeds anyway. If not actually, then effectively.

The simple solution is to find a good independant lawyer, and take advice. Study as much as you can, especially boards like this where the problems are often aired, and learn from other people's mistakes.

It's the cheapest way.

thanks once again, I'm learning new things every day, especially if my flue gets bunged!

I,m sending over my son in law and daughter (he was an estate agent, credit crunch!) to have a look at the ones I liked and others, then they can put in the offer if I want and then I don't look too silly if it's a ridiculous price and they laugh!
It seems everything I'm looking at has a building site either around it or behind it, Google earth is a wonderful tool, what I want to know who's going to pay for all these beautiful tarmac roads...not me if I can help it.

Do you really want to be on an urbanisation? Why not have a look around some Spanish towns and villages, there are some very nice properties to be had and at better prices than the ones on an urb.

I don't understand the issue with urbanisations? I know you have had problems L, but how did they relate to being on an urb. I have a town centre apartment on a small urb and it serves me very well, admittedly for holidays only, but most of the other owners live there on a permanent basis.

I think the key is to buy an established property where the properties have been bought and lived in. You can then see how it is being managed.