Januari 2020 – redactie Casa Propia
Stop the abuse of purchasers on the Spanish housing market!
Every year thousands of Spain enthusiasts buy an apartment or house in good faith without being fully informed. It is striking that virtually no real estate agent or lawyer website provides essential information that could at least have prevented part of the deception and fraud. The official websites of the College of Notaries and Registro de propiedad (government body where houses are registered) even guarantee certainty, while practice shows that this is not being achieved. It is remarkable that Casa Propia seems to be the first to say something about it. After all, it is important information that gives buyers confidence, and on the basis of which properties are purchased that with the correct information were probably not purchased for the agreed price or never bought at all.
It seems that the market benefits from a lack of transparency, and we must apparently accept the thousands of victims of deception and fraud every year. It is as if home buyers are proverbially sent onto the road without car insurance and a driver’s license. As long as you are not caught and nothing happens, but sooner or later you will face facts and the trouble begins. The buyer has the right to know what he is buying or has bought, the misleading must stop!
BUYERS MUST HAVE BEEN NAIVE
It is no secret that buying a house in Spain involves uncertainties. That is why it is recommended on websites and social media to engage a good real estate agent or lawyer and people logically follow recommendations. But what is good? From our survey where we asked buyers if they would buy a house with potential problems, the answer was almost unanimous No. Tehn how is it possible that it happens in huge numbers in all price ranges? Many will conclude that these buyers are naive. The fact is that our survey also shows that the majority made use of a real estate agent, a lawyer and eventually passed through a Spanish notary. Because of the “safety” it appears that professionals who speak English are often chosen, being a compatriot or Spaniard. The conclusion therefore can be no different than that there is a structural problem on the Spanish housing market and that naivety is certainly not the cause, but the abuse of trust.
TOO LATE
Purchasers almost always find out too late that their home is completely or partially illegal, that a time barred construction is not as innocent as it seems, that the lack of (valid) documents has serious consequences in obtaining permits, for example, for reforming, rebuilding, rental licence or insurance coverage, but also affects the value and marketability of the home in the future. And anyone with experience with court cases or local authorities knows that, the arbitrary of decisions, is a silent killer.