The Latest Spanish Property News from Kyero.com

A further update on the Spanish Law of Vicios Ocultos, courtesy of Campbell Ferguson of Survey Spain

There is no standard contract for selling and buying resale properties, and there could be different ways of trying to avoid the responsibilities of vicios ocultos. Wording of this kind could be added to a sales contract:

• El vendedor queda exonerado de los defectos/vicios ocultos que pudieran existir
• El comprador conoce y acepta los defectos/vicios ocultos

Unfortunately, in either case, it’s not certain that these would be accepted by a consumer court.

Also, when dealing with newly built properties, the responsibility of the developer/contractor/designer is for 10 years for structural defects, 3 years for installations and 1 year for finishes.

The clock starts ticking from the date of the final completion certificate, CFO. This is important if a building has remained unsold for some time or if it is being sold again ‘as new’ by an investor. The date of the CFO, (which I understand to be the architect’s certificate and not the first occupation licence LPO), is therefore very important.

Remember: this doesn’t constitute legal advice on the part of Campbell or Kyero.com because we’re not qualified to do so. Please use this information responsibly and seek professional legal advice.

Is any property below €50,000 a cheap Spanish property? Are cheap Spanish properties only to be found at auction or as bank repossessions? How much below market value does a Spanish property need to be to be considered cheap?

Continue reading: What IS cheap Spanish property?