Monday, 29 September 2014

The importance of getting the best legal advice when buying in Spain

With an increase in the levels of people buying in Spain again it is important buyers ensure the legal services they contract are of a high quality.

Past issues when buying in Spain

Many of the past issues in Spain were caused by lax legal advice provided by Lawyers who served two masters the client and the agent who introduced the client.

Unclear property laws and an avoidance by officials to pull developers into line also had an impact leaving many properties in Spain sitting in no mans land neither fully legal or fully illegal.

Improvements in the buying process

Much has been done in the past few years to improve the process of buying in Spain and to ensure property laws are adhered to but issues can and still do exist meaning all buyers in Spain should ensure the quality of the legal services they contract is both independent and dilligent.

In the past Lawyers in Spain have been prone to deciding on behalf of the client without referal to the client that whilst a risk applies to the property the risk is so small as not to mention. This practice of it is Spain it does not matter, or it will never happen so why mention it, lost many people their life savings and extreme cases their home.

The process of checking infractions is now much clearer and it is possible for a lawyer to be succinct as to what issues apply and what level of risk this holds. What is now required is legal providers who outline the risks in a clear and concise manner and help their clients decide what level of risk they are willing to take against the desire to own the property and the price they are getting it at.

Have the lessons been learned

It is unfortunate that some of the lessons of the past do not seem to have been taken on board, IMS mortgage advisers in Spain are reporting that as activity levels increase they are seeing more and more incidences of property related issues not being relayed to clients and the client only becoming aware at formal valuation of the property by the Bank.

Spanish Lawyers need to take heed the upturn in buying activity can soon be wiped out if potential buyers deem Spain to be unsafe place to buy and up their game on provision of legal services.

Read the full article: Legal services when buying in Spain

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