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Don't take risks when buying Spanish property, investors told

Article Date : Wednesday, April 04, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

The consequences of not seeking legal advice when buying a house, apartment or villa in Spain are "just not worth it", a property website has warned.

According to Property Abroad, the most important part of buying a property in Spain is making sure you understand the documents that are being signed and that a translation is available.

Website director Les Calvert said that when an investor goes to the office of a notary ? a public official who plays a neutral role in drafting and witnessing contracts ? to sign an agreement, he or she must be in a position to know exactly what is happening.

"Normally, notaries have an obligation to make sure that whoever does sign it does understand.

"So if you don't speak Spanish, it should be translated into English so you can understand what you're signing."

He also warned that some properties may have debts attached to them or may be in breach of planning laws.

It follows similar advice from website Homes Worldwide, which urged investors to employ a good lawyer or use a member of Federation of Overseas Property Developers, Agents and Consultants.
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