Locating a deteriorated property and restoring it to its former glory, is the stuff of dreams, how many people have scoured internet sites viewing Spanish properties for sale only to return to the pages showing properties in various stages of dilapidation just crying out for a new owner to come along and repair them.
Just what exactly is entailed in this type of purchase and can you really make it worthwhile?
If you are of a mind to repair the building yourself, make sure that you are fully aware of all of the work that needs to be carried out and that the jobs are within your capabilities and budget. Another important consideration is planning applications, if you intend to redevelop and extend the property, how long is it likely to take to receive all the necessary paperwork and will you actually be allowed to do what you want.
If you are set on a particular property, then instructing a law firm with good local knowledge is an excellent starting point. They will be able to find out all the important information such as what you can do with the property, if it can be demolished, extended, repaired etc. If the solicitor provides information that looks favorable towards a purchase, you should then examine your budget before continuing to purchase the property.
You may be perfectly capable of completing some of the renovation work yourself, for other jobs, you may want to employ the services of a Spanish builder to help you.
You can locate Spanish builders on the Internet or you, may like to use a local recommendation, sometimes this is better. The Medias often tell stories of builders that have carried out shoddy work or simply disappeared with client’s money, alas it is the same in Spain, there are good builders and bad builders everywhere.
Most quality builders will be registered and will be able to produce documentation to prove their status, also any contractor worth their salt is going to be able to put you in touch with satisfied clients who can vouch for work standards. Don’t be afraid to ask, as professional people are not going to feel offended by your enquiries. . A quotation will be offered to you by the builder of your choice, for large jobs, you may like to obtain a number of estimates and it is traditional to pay a deposit at the start of the job, with the balance on completion.
Experience shows that withholding as much money as possible until the work is completed will accelerate completion to the least amount of time.
The building contract you are offered is a legal document and as such, you should have it checked by your solicitors before you proceed. As in most Northern European countries, builders should have insurance to cover Public Liability and Employers liability. It is probably best if you ask to examine their policy documents and enter the relevant information on the building contract.
Another important insurance is a Contractors All Risks Insurance to cover materials that are left on site for any length of time. Especially if your property is remote, you should discuss with the builder who is going to be responsible for these materials, and ask if he has extended insurance to cover loss or damage.
Do you have any questions feel free to contact us and we will get back to you shortly
Nordica Estates C / San Juan Bosco, 2 Building Central Bank 3º A 29602 Marbella Málaga, Spain
Nordica Estates is an exclusive real estate company specializing in the acquisition and sale of properties in the Marbella area and on the Western part of The Costa del Sol, Spain.
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