# Watch out!



## Stevefb (Jul 8, 2016)

Good morning everyone. As I continue my search of properties in both Portugal and Spain, I have come across the dreaded property deed problems in Spain. I had seen and asked about many properties, then one day a Spanish realtor responded to my inquiry on financing with a "you cannot get financing on that property, it doesn't have documentation". That isn't a direct quote, but you get the gist. All this time previous talking to realtors and nobody had mentioned this before. Bottom line is now that is the first question I ask...

Recently, I spoke to a realtor, at this time to stay unnamed, said to me...oh, don't worry about those documents, lots of people own property without them, even I and my parents bought property without those. She went on to speak briefly about 10000 sqm properties, etc., etc. and said when the busy season completes she will talk more to me about it.

I am waiting to see what she follows up with, but advise all of you to warn your friends and relatives to NOT purchase property without the deeds and the permission documents that have been reveiwed by trusted attorneys. Do not believe everything a realtor tells you, they are not necessarily telling you a lie, but they may be stretching the truth just a little bit.....


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## piersuk (Nov 13, 2015)

That's been a theme here and elsewhere. Why would you part with such a huge amount of money in a different setting, with different laws without expert advice. 

I have known people that have done more independent research on buying a mobile phone than they did a place abroad!

Don't believe anyone except a reputable lawyer. 

We were lucky with the estate agent, they were very genuine. A year on and we are looking around for a second place and really not looking forward to it. 

Our lawyer was a gem of a find, again thanks to this forum.


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## Pazcat (Mar 24, 2010)

If you need financing/mortgage then it generally comes down to the bank and as they approve the loan for the property and not the person then yes you have to supply the bank with the required documents on a case by case basis.
We also found that they have zero interest in approving a loan for a house on rustic land too.

There are of course more options than just the Spanish banks but that was our experience with them.


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## Stevefb (Jul 8, 2016)

Kwhy don't you share the names of the attorney and realtor? Recommendations are what this forum should be about!


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## piersuk (Nov 13, 2015)

If you mean me.. I'm happy to and have already but are you looking on the Costa Blanca North? Not much point otherwise.


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## Stevefb (Jul 8, 2016)

Not sure where we will go, heck i am still looking at Portugal....


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## snikpoh (Nov 19, 2007)

Stevefb said:


> Kwhy don't you share the names of the attorney and realtor? Recommendations are what this forum should be about!


Or even lawyer and estate agent


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## Stevefb (Jul 8, 2016)

Is that "Brit" talk? Lol


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## snikpoh (Nov 19, 2007)

Stevefb said:


> Is that "Brit" talk? Lol


Possibly, but certainly English


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## Stevefb (Jul 8, 2016)

Attorney and realtor are English...i think?


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## snikpoh (Nov 19, 2007)

Stevefb said:


> Attorney and realtor are English...i think?


Nope - both American terms


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## Stevefb (Jul 8, 2016)

Oh crap! Mi dispiace


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