Building your own off plan property in Spain is the dream of many, right? After all, the gorgeous weather, friendly locals, and endless things to do is more than enough reason to start a new life in the land of tapas and sangria. On the surface, there are many exciting elements to purchasing a property in Spain. These include the freedom of building a bespoke property for yourself, that is tailored to your exact tastes and logistical requirements.
But delve a little deeper and there are more technical issues to consider, which is where this blog post, from the property law experts at Manzanares Lawyers can be of assistance.
Quality and Snagging
A primary thing to consider is ensure you obtain information about the quality of materials being used to build the property as well as specific descriptions of each of them too. Snagging procedures are also worth looking into.
Buying your property before a brick has been laid does present some economic risks, as essentially you are predicting the trend of the market before it happens. However, it is highly likely that the value of your property will rise by the time it is built, leaving you in a much better financial position if you choose to renovate for a profit or sell in the future.
It is important to keep in mind with Off plan property that the developer is obliged by law to issue bank guarantees to each buyer for the payments done. This gives huge security to buyers in case of bankruptcy or breach of contract. By law developers also need to offer 10-year insurance on structural matters, while some also offer guarantees on other parts such as humidity issues.
Tight for time?
If you decide to use the experts at Manzanares Lawyers for assistance during an off-plan project, we ensure that we look to have all of the legal processes completed as quickly and efficiently as possible, to ensure no hold ups on our side.
Our supportive team at Manzanares will always log these projected completion dates in case the time spent on the project becomes unsatisfactory and you would like to launch a claim against the home development team.
We understand that the preference is to have your build completed as quickly – but as safely – as possible, which is why we can assist you in overseeing the process from a legal standpoint.
Looking to build a property with rental in mind?
If you are looking to build a property as a holiday home for either yourself or tourists that visit the country, then you should always check that your new build is fit for that purpose. Certain regulations need to be met in order for your property to be rented out to tourists legally. So be sure to be up front with your developers about this so your property can be built with this use at the forefront of their thinking.
Luckily, our specialist area of operation is Andalusia, which includes the tourist hotspot Costa Del Sol. The regulations on holiday rentals are quite specific and change all the time but we can always be of assistance if you are looking for expert advice.
How can Manzanares Lawyers help?
Our independent team of lawyers can assist you in obtaining the best possible off plan property contract in Spain, so you are able to start work on your new dream build as soon as possible – with no unnecessary delays.
To find out more about this exciting time, then be sure to get in touch with our expert team today. You can give us a call at either of our offices to speak to us directly on: