Repossession Pending - Drive By Valuation - Lawyers

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05 Feb 2014 7:58 PM by sfensom Star rating. 2 posts Send private message

I'm new to the forum and am looking for some urgent advice.

I (with my siblings) nherited a property in Spain about 10 years ago.  No action was taken at the time of my father's death to implement the terms of his Will.  I have been advised recently that the local council have taken out an order over the property for unpaid taxes due to them.  They are intending to take possession of the property and sell it.

I am trying to sort this out from the Middle East.  I need to establish how much is owing, how much in legal fees it will cost to sort everything out and most importantly, how much the property is worth.

I need to know how much the property is worth before I can take a decision whether it is worth spending the money on legal fees etc. to recover it from repossession.  I have a rough idea on legal fees, but the lawyer (in Burgos) is suggesting that he attends to inspect the property to have it valued.  This seems excessive at this stage.  I am happy to have a full survey done, but much later.

My view is that a basic drive by valuation (which I know will make huge assumptions about the condition of the property) is sufficient to tell me whether it is worth while spending anything on this.

Do you have drive by valuations in Spain?  If so, how much do they cost and how can get in touch urgently to have this carried out?

Thanks in advance for advice.





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06 Feb 2014 12:13 PM by xetog Star rating in Wiltshire/holiday ap.... 514 posts Send private message

Sorry, I have no idea if they have "drive by" valuations in Spain, but would suggest that you contact a local estate agent with a view to putting the house on the market. They would, at least give you a valuation for the sale of the property, which might help you decide  on your best course of action. Does somebody in Spain have a key to the property?

People with more knowledge than me, have pointed out, on this forum that Inheritance tax would need to be paid before the property can be sold and that amount is usually high in Spain . Your solicitor should be able to advise on this.





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06 Feb 2014 12:52 PM by johnzx Star rating in Spain. 5242 posts Send private message

I wonder if by coincidence this is the same embargoed property (a townhouse) that jewseboy is asking, in another thread,  if he can buy ?





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06 Feb 2014 1:15 PM by sfensom Star rating. 2 posts Send private message

Thanks for this John, but its not.  I re-read the thread - the previous owner is a Mr Smith.

 





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06 Feb 2014 1:23 PM by juansheetisplenty Star rating in Cartagena. 283 posts Send private message

juansheetisplenty´s avatar

Have you thought of going on google earth and streetview? In the last month much of Spain has been updated. Using a combination of Kyero.com and Streetview you can usually suss which properties are for sale nearby and at what price and do your own drive by.  Also get an idea of the condition of the property externally/

Saludos 

Juan





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06 Feb 2014 3:06 PM by windtalker Star rating. 1935 posts Send private message

Hi can I suggest you take one weeks holiday in Spain to sort out your problem if you are talking of paying 10 years I.B.I back tax then it will only cost about 3,000 EU + legal cost I sure what ever property you have been left  in the will is worth more than that.





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