Know your rights (Decreto 218/2005)
Since 2006 house buyers in Andalucía have had improved rights. Providing you deal with an Estate Agent who displays the sign below in either their shop windows or on their website and adheres to the very stringent laws governing house sales you can rest easy knowing you are in the hand of a true professional.
Our compliance with this legislation requires us by law to display this notice on our website. You will also probably see some very notable differences between our web site and those of other Estate Agents.EL CONSUMIDOR TIENE DERECHO A QUE SE LE ENTREGUE UNA COPIA DEL CORRESPONDIENTE DOCUMENTO INFORMATIVO ABREVIADO DE LA VIVIENDA
Decreto 218/2005, de 11 octubre por el que se apruebe el Reglamento de informacion el consumidor en la compraventa y arrendamiento de viviendas en Andalucía
We are obliged to display this notice in Spanish in order to comply with recently introduced legislation. It informs you that you have the right to receive copies of VITAL informative documents relating to all the properties that you wish to view.
How do I know if an Estate Agent is reputable and is complying with the law
1. Does their website and/or office advertise the fact that they comply fully with Decree 218/2005? If not, they do not comply.
2. Do their offices have a sign displayed stating that they have a complaints book available for their customers? If not, they do not comply.
3. Do all their property fact sheets (including website details) state that you have to pay approx 10% of the advertised sale price to include solicitor fees, 7% purchase tax, Notary fees and Land Registry fees? If not, they do not comply.
4. Ask them before viewing if they provide Ficha Informativa and/or Documento Informativa Abbreviado forms when you view. These are documents relating to both resale properties and first occupation properties informing you of all details about the property. The Estate Agent, by law has to provide these (without being asked) to all clients PRIOR to viewing. If they say no or “what are those” they do not comply.
5. There are many Estate Agents that advertise “no commissions, no finder’s fees and no other costs. You can easily check this out by insisting that should a sale ensue the declared price on the Title Deeds as signed before the Notary will be the same as the advertised sale price on their website, Check this out too.
6. Do their website and office prices state that the selling prices are “net to seller prices” and do they state separately and clearly all commissions? If not, they do not comply.
These are just some of the signs to look for and by following the above guidelines you should be able to purchase property in Spain with much more confidence and with less risk. Are you really prepared to lose all your money and end up a dissatisfied customer? If not, please follow the above recommendations.