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My advice when thinking of buying a Spanish property within a community of owners is as follows:
1. Ask to see the budget and minutes from the last AGM
This will give you an insight into any problems that the community faces (i.e. any outstanding issues or unresolved lawsuits with the developers/builders) or any grumbles that the current owners may have (i.e. maybe the barking dog at Number 9 is a recurring theme - could be a problem if you are thinking of buying Number 10!)
2. Take a look around the communal areas
If you think that any areas look tatty or in need of a lick of paint, ask your agent to find out if/when any remedial work is due. This will give you an idea of how seriously the owners take the upkeep of the community. Continue reading »
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With the Spanish property market hitting the buffers, perhaps there is a way out of the mess for developers and promoters.
In times of recession and in light of the subsequent dwindling demand for properties in Spain, the key objection from most prospective buyers is the asking price of Spanish properties. For most clients, the purchase of an overseas property is a luxury, and therefore naturally slips down the pecking order of priorities in these challenging times.
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