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Buyers and sellers of property in Spain need to be aware of 'vicios cultos'

Article Date : 02 July 2008       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

Homeowners need to be aware of a law named "vicios cultos" when buying and selling property in Spain. Vicios cultos means that vendor liability for defects lasts for up to six months after the house sale, even if the problem was not obvious at time of sale.

Vicios cultos means that the vendor of the property in Spain is obliged to compensate for or remedy any defect or problem within the first six months after the sale. With information from The Rights Group and Survey Spain, Spanish property experts Kyero report that the seller will be accountable in the following circumstances:

If the problem makes the property unsuitable for the purpose for which it was sold. If the problem reduces the use of the property. If, having known of the problem, the buyer would not have bought the property or would have offered a lesser price for it.

If the buyer is an expert or qualified in the field of property, then the vendor will not be considered responsible, as the buyer should have been able to recognise the defects, even if they weren't immediately obvious.

When the seller is accountable, the buyer can annul the contract. If the seller knew about the defects and did not mention them at the time of sale, the buyer can claim for compensation, if they choose to annul the contract.

Anyone selling property can, however, include specific wording in the contract that excludes liability and means the property is "sold as seen", and buyers are advised to look out for such clauses.

It is recommended that buyers use a qualified surveyor before closing any property deals, even if this is not required by their mortgage company.

This story was brought to you by holiday lettings .co.uk, the UK's No.1 holiday home website.
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Read the full article here: http://www.holidaylettings.co.uk/resources/property-news/miscellaneous-and-celebrity-news/buyers-and-sellers-of-property-in-spain-need-to-be-aware-of-vicios-cultos-/a-2-58-1222/

DISCLAIMER: The opinions expressed here are the views of the author of this news item and do not necessarily reflect the views and opinions of Propertyshowrooms.com.
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