Bank owned apartments

Posted: Sun Nov 1, 2020 3:46pm

14 replies883 views8 members subscribed

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JohnF1976

Posts: 6

Location: Albox

Joined: 1 Nov 2020

Hello everyone,

My wife and I are considering buying an apartment in albox and I was wondering if any of the Albox residents on this forum know the apartment block and whether it is a legal property.

It appears to be advertised on many genuine platforms such as a place in the sun website as well as rightmove Spain.
The agent is Spanishpropertyexpert.com and they recommend Ángela Morales from Mojácar as a lawyer.

I have listed the property here: https://www.spanishpropertyexpert.com/property/penthouse-3-bed-2-bath-in-albox-39-733e/

I would be most grateful if anyone can offer friendly advice on the building, agent, lawyer as it’s a dream of ours to own a property in Spain but we have been made aware of the many potential pitfalls of buying in Spain.

As the old saying goes if something sounds too good to be true it usually is. Having said that I’m keen to learn more. I’d also be interested to know if this apartment block is within walking distance of the towns shops, bars and restaurants as the agent has advised.

Thank you in advance for any constructive advice.

JohnF

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Posted: Sun Nov 1, 2020 6:42pm

Jack

Very helpful member

Posts: 528

561 helpful points

Location: San Juan De Los Terreros

Joined: 8 Oct 2016

Posted: Sun Nov 1, 2020 6:42pm

I don’t know the building, but these are my suggestions.

1. DO NOT USE ANY SOLICITOR RECOMMENDED BY AN ESTATE AGENT.

I have out that it block capitals as it should be a rule in the constitution.

2. Once you have employed the services of an independent solicitor, ask them to contact the bank selling the properties, he will, if the building is legal, be able to get a Nota Simpla. That will be prof there is no debt on the building.

3. Please please seek professional advice.

Posted: Sun Nov 1, 2020 7:03pm

JohnF1976

Original Poster

Posts: 6

Location: Albox

Joined: 1 Nov 2020

Posted: Sun Nov 1, 2020 7:03pm

Jack wrote on Sun Nov 1, 2020 6:42pm:
I don’t know the building, but these are my suggestions.
1. DO NOT USE ANY SOLICITOR RECOMMENDED BY AN ESTATE AGENT.

Read more...

I have out that it block capitals as it should be a rule in the constitution.
2. Once you have employed the services of an independent solicitor, ask them to contact the bank selling the properties, he will, if the building is legal, be able to get a Nota Simpla. That will be prof there is no debt on the building.
3. Please please seek professional advice.

Thank you Jack. Much appreciated, thank you for taking the time to reply with sound advice.

John

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Posted: Sun Nov 1, 2020 7:14pm

hartcjhart

Very helpful member

Posts: 1072

927 helpful points

Location: Mojacar

Joined: 26 Oct 2017

Posted: Sun Nov 1, 2020 7:14pm

Jack wrote on Sun Nov 1, 2020 6:42pm:
I don’t know the building, but these are my suggestions.
1. DO NOT USE ANY SOLICITOR RECOMMENDED BY AN ESTATE AGENT.

Read more...

I have out that it block capitals as it should be a rule in the constitution.
2. Once you have employed the services of an independent solicitor, ask them to contact the bank selling the properties, he will, if the building is legal, be able to get a Nota Simpla. That will be prof there is no debt on the building.
3. Please please seek professional advice.

While I agree with what you say normally about solicitors and agents,in this case you are totally wrong

Angela Morales IS A VERY WELL RESPECTED SOLICITOR IN THE AREA (perhaps that should be written in the constitucion) and has been used and recommended by hundreds of people over the 20years I have known of her.
OP whether you buy one of these properties or any other, use Angela to handle all your affairs.
You say it is a 'bank owned' property,try tracing the bank and negotiating with them it could save you thousands

Posted: Sun Nov 1, 2020 7:21pm

JohnF1976

Original Poster

Posts: 6

Location: Albox

Joined: 1 Nov 2020

Posted: Sun Nov 1, 2020 7:21pm

hartcjhart wrote on Sun Nov 1, 2020 7:14pm:
While I agree with what you say normally about solicitors and agents,in this case you are totally wrong

Angela Morales IS A VERY WELL RESPECTED SOLICITOR IN THE AREA (perhaps that should be written in the constitucion) and has been used and recommended by hundreds of people over the 20years I...

Read more...

... have known of her.
OP whether you buy one of these properties or any other, use Angela to handle all your affairs.
You say it is a 'bank owned' property,try tracing the bank and negotiating with them it could save you thousands

Thank you for replying.

appreciate your advice and good to hear positive feedback re the solicitor recommended.

i wouldn’t know where to start regarding tracing the bank in possession of the property so any advice on this gratefully received.

thanks again,

John

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Posted: Sun Nov 1, 2020 8:41pm

Alicia 11

Super helpful member

Posts: 2103

1781 helpful points

Location: Mojacar

Joined: 30 Sep 2019

Posted: Sun Nov 1, 2020 8:41pm

this apartment is indeed within walking distance of the town' amenities but it is on the outskirts near to the rubbish dump and fire engine areas as far as I can see from the map. it looks a bargain but you'd have to get the solicitor to check any outstanding debts as they usually pass with the property in Spain. plus what does it come with i.e. kitchen, bathroom fitments sometimes you'll just get a bare room. also electric fittings are usually extra lights etc. check check and double check everything.

Posted: Sun Nov 1, 2020 10:27pm

hartcjhart

Very helpful member

Posts: 1072

927 helpful points

Location: Mojacar

Joined: 26 Oct 2017

Posted: Sun Nov 1, 2020 10:27pm

Alicia 11 wrote on Sun Nov 1, 2020 8:41pm:
this apartment is indeed within walking distance of the town' amenities but it is on the outskirts near to the rubbish dump and fire engine areas as far as I can see from the map. it looks a bargain but you'd have to get the solicitor to check any outstanding debts as they usually pas...

Read more...

...s with the property in Spain. plus what does it come with i.e. kitchen, bathroom fitments sometimes you'll just get a bare room. also electric fittings are usually extra lights etc. check check and double check everything.

Interesting,being near the tip is probably knowing Spain a great location(price) If it is being purchased from a bank(repo) then debts are not usually a problem,
I had a quick look on the web but could not find this property(bank)name.

John give Angela a call and ask who the bank is,she can find out.
PM sent

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Posted: Mon Nov 2, 2020 3:26pm

Hiacynth

Helpful member

Posts: 93

59 helpful points

Location: Albox

Joined: 29 Mar 2020

Posted: Mon Nov 2, 2020 3:26pm

JohnF1976 wrote on Sun Nov 1, 2020 3:46pm:
Hello everyone,
My wife and I are considering buying an apartment in albox and I was wondering if any of the Albox residents on this forum know the apartment block and whether it is a legal property.

Read more...

It appears to be advertised on many genuine platforms such as a place in the sun website as well as rightmove Spain.
The agent is Spanishpropertyexpert.com and they recommend Ángela Morales from Mojácar as a lawyer.
I have listed the property here: https://www.spanishpropertyexpert.com/property/penthouse-3-bed-2-bath-in-albox-39-733e/
I would be most grateful if anyone can offer friendly advice on the building, agent, lawyer as it’s a dream of ours to own a property in Spain but we have been made aware of the many potential pitfalls of buying in Spain.
As the old saying goes if something sounds too good to be true it usually is. Having said that I’m keen to learn more. I’d also be interested to know if this apartment block is within walking distance of the towns shops, bars and restaurants as the agent has advised.
Thank you in advance for any constructive advice.

JohnF

Hi John,

Angela Morales is a wonderful lawyer, and you would be well advised by her, she will look into the legality of the property for you, and if it's a no no she will tell you right away. Be guided by her. Always choose a lawyer outside of where you intend to live. Good luck.

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Posted: Mon Nov 2, 2020 4:05pm

CarolC

Posts: 71

43 helpful points

Location: Cuevas de Almanzora

Joined: 21 Dec 2019

Posted: Mon Nov 2, 2020 4:05pm

We used Danny and against all advice, used his recommended solicitor which happened to be Angela!

We found Danny to be great, very helpful at all times and Angela and her team very thorough and professional.

Reply

Posted: Mon Nov 2, 2020 7:29pm

JohnF1976

Original Poster

Posts: 6

Location: Albox

Joined: 1 Nov 2020

Posted: Mon Nov 2, 2020 7:29pm

Hiacynth wrote on Mon Nov 2, 2020 3:26pm:
Hi John,
Angela Morales is a wonderful lawyer, and you would be well advised by her, she will look into the legality of the property for you, and if it's a no no she will tell you right away. Be guided by her. Always choose a lawyer outside of where you intend to live. Good luck...

Read more...

....

Thank you.