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Hi all, I'm in the process of buying a flat in a building that has previously been owned by the same family. Shop on the ground floor, flats on the two floors above. The family members are now elderly and selling up. There's not been an association, because in the past, everything was divvied up by the family. But now there are three owners. Has anyone else had to set up an association, or had a similar experience?
https://www.spanishpropertyinsight.com/2019/12/03/community-of-owners-in-spain/
This gives a good overview and I would get myself a lawyer who is experienced in this process and absolutely NOT the one the estate agent suggests.
A few thoughts;
Will you want to be able to exclude certain types of business from buying the retail unit?
If there is a lift do you want a clause to ensure that the lift must be maintained? This came up twice on the forum recently whereby a community voted to close the lift down leaving a disabled owner of a higher floor flat unable to use his property. Unfortunately although the person came on here for advise, we did not get to hear the outcome which is a shame.
This is a situation where I would get an in depth survey done. It could be that little maintenance has been done for a number of years and suddenly the whole roof needs replacing the minute you have bought. In larger communities the risk is spread thinner but you could be facing a big outlay if something major goes wrong.
If the flat is being sold at below market price because of the complications involved then you may be charged Complementary tax.
Personally I just wouldn't want the hassle.
Posted: Fri Mar 18, 2022 12:06pm
Super helpful member
Regrding complimentary tax: Taxable amount is the higher value of the following 3: a. the agreed and paid puchase price, b. the cadaster value, and c. the so called average market value (valor medio de mercado) as published by your Comunidad Autonoma and available online. Nevertheless, the tax office will not look into details, and in many cases it's worthwhile to appeal a complimentary tax bill by menas of a survey set up by a "tasador judicial" and which cannot be beaten before a court.
No lift, not being sold below market value, I'm very happy with my solicitor who is nothing to do with the sellers or their agent.........
Cheryl wrote on Fri Mar 18, 2022 10:54am:
https://www.spanishpropertyinsight.com/2019/12/03/community-of-owners-in-spain/
This gives a good overview and I would get myself a lawyer who is experienced in this process and absolutely NOT the one the estate agent suggests.
A few thoughts;Read more...
Will you want to be able to exclude certain types of business from buying the retail unit?
If there is a lift do you want a clause to ensure that the lift must be maintained? This came up twice on the forum recently whereby a community voted to close the lift down leaving a disabled owner of a higher floor flat unable to use his property. Unfortunately although the person came on here for advise, we did not get to hear the outcome which is a shame.
This is a situation where I would get an in depth survey done. It could be that little maintenance has been done for a number of years and suddenly the whole roof needs replacing the minute you have bought. In larger communities the risk is spread thinner but you could be facing a big outlay if something major goes wrong.If the flat is being sold at below market price because of the complications involved then you may be charged Complementary tax.
Personally I just wouldn't want the hassle.
Hello
Great advice as always from Cheryl. When you have been on this forum for a few years, you get to hear of so many difficult issues with property purchases- often financial, other complications, legal requirements & general negligence of laws/rules etc prior to your purchase.. It always good to be able to pass this kind of info. on to new buyers to help them avoid these problems themselves
Cheers
Elinspain
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