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Your Spanish Property Questions Answered

Hola! I represent Livingstone Estates, an estate agency based in Estepona on the Costa del Sol. I have started this blog to help people out with any real estate questions they may have. The idea is to answer questions here so that others can benefit from our advice. So if you have any questions that you need answering please fire away.

See the levante weather in Costa del Sol today
Monday, June 22, 2009

 This morning is what we call "levante" weather on the Costa del Sol.  It starts off a bit hazy, feels a little damp and then the heat kicks in.

See our streaming Costa del Sol streaming webcam to see what I mean.



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Q: How do I get my depost money back?
Monday, June 22, 2009

 I received the following question from Jules:

"How do I get my deposit back from rip off agent Palmera Properties or the so called builder Inroal - its been over four year. I have 33 374 euros tied up on a development that it would seem is never going to be built, endless request for refunds get nowhere. The spanish system is slow and spanish solicitors want upfront cash for doing very little. I need some advice on how to handle this spanish process and those spanish solicitors. Any advice"

Hello Jules

Sorry to hear about your bad experience with buying a property in Spain.  As you probably know Palmera Properties closed down I believe over a year ago now.  

The first thing is do you have a bank guarantee?  By law the developer, Inroal, should have provided you with this.  If you do not have the bank guarantee then your lawyer has been negligent in not ensuring that this was in place when you handed over your deposit.

Secondly, do you currently have a lawyer actually trying to recover your deposit for you?  If so and you have your bank guarantee then they should be able to recover it for you, although the developer will probably delay this as much as possible.  It's unfortunate that it is no easier to execute the bank guarantees.

In terms of solicitors, it's like any profession, there are good and bad ones. There are some good lawyers active here on Eye on Spain.  My advice would be to find one who already has dealings with Inroal and preferably has had some success in retrieving money from them.

Solicitors always require a payment up front in Spain so it is important that you choose well.

I hope that helps you a little and hope that you can get this matter resolved soon.

For and on behalf of Livingstone Estates.


Livingstone Estates are a professional real estate agency based on the Costa del Sol, specialing in property in Marbella and property in Mijas.

If you would like to ask us your own question then please leave a comment on the blog.

 



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ITV - Spain, Paradise Lost? NOT!
Friday, June 19, 2009

As with any rogue agents in any country around the world, dreams will be shattered and property buyers cheated out of their savings by ‘too good to be true’ sales pitches!  If it sounds too good to be true, then we all know – it usually is!  And still, new twists and angles are found to repackage a format so that again and again property buyers are ‘trapped’ into a purchase which turns a dream into a nightmare!  Worldwide!!

 
As within any country during this worldwide economic recession, the property market has suffered substantial losses in value – including the UK!  This is not a phenomena solely reserved for the Spanish property market!
 
As with any serious real estate broker worldwide, procedures, moral ethics, business values and credibility continue to rank highest in the list of priorities.  There is no exception to that rule within Spain!  
 
Having said all that, personal experience with a serious real estate broker is the only way to prove to the buyer that not ALL aspects revolving around the property market within Spain are doom and gloom!  Take Livingstone Estates for example!  
 
We give you the opportunity to ‘Try it before You Buy it!’  We literally invite you to try us!  Try out a property within the scheme, for one full week, and during that week, try and test the credibility of Livingstone Estates!  If you decide to proceed with purchasing the property, we will refund you the full rental fee for that week!  If not, perhaps you would like to try another property – until you find what is right for you!
 
History proves that, also in Spain, serious business ventures are there long term!  Livingstone Estates belongs to a group of companies established in Spain since 1996!
 
Yes there will always be the odd black sheep in any business sector; sharks do not just swim and hunt in the vast oceans of this world, and as unfortunate and unacceptable as this may be, it is nothing short of the truth!  Livingstone Estates, however, does not fall into this category and we would like to give you the opportunity to experience that for yourself!  
 
Still looking for a dream home?  Solid investment opportunity?  No nonsense straight forward talk, no corporate jargon, as much legally backed up advice as you need?  Do not let the handful of black sheep or sharks stop you from pursuing what could be the best decision you ever made!!  However, make use of the experiences of others and turn them around to work in your favor!   
 
It’s a buyer’s market right now!  There has never been a better climate to get value for money as the present day!  
 
1.000.000 British have made Spain their home!  That’s British expats ONLY!   The rest of Europe is widely represented in vast numbers as well!  Based on our experience, proportionally only a few have been disappointed!  When it comes to Spain, specifically the Costa del Sol; the numbers speak for themselves!  The direct flights are not empty; on the contrary, more destinations are being added to and from Málaga airport!  Substantial improvement / expansion construction works on airports, countrywide high speed train networks, roads and general infrastructure are being carried out at present day in order to accommodate the continuous growing number of visitors and expats coming to Spain!
 
For a quick glance into the world of Livingstone Estates, we invite you to see how we operate!  Log on to www.livingstone-estates.com and watch us at work via live web cam!  Call us at +34 902 424 484 and when you do, you can see our receptionist actually picking up the telephone and speak to you!  Call us, and ask the receptionist to look into the office camera and wave, this way you will also know who you are talking to!  
 
Livingstone Estates - not just an advertising space in a magazine but a face you can see and relate to - WORLDWIDE!  
 
Try us!  The best time is now!
 


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Q: How much lower will prices go?
Wednesday, June 3, 2009

Received this question from Tina "I have been planning to live in Spain for the past few years and hope to move out to the Benalmadena area this September.  I do not really want to rent as I plan to move permanently and want to settle down straight away. Are prices going to drop any further over the coming months?"

Hello Tina and thank you for your question.  Prices have already dropped by some significant margin over the past few months as investors have been selling much of their off plan stock at very low prices.   There are still many unsold properties around Benalmadena so in theory prices could continue to fall until these start moving again.

Saying that, we find that the vast majority of owners are preferring to hang on to their properties for as long as possible so as not to sell at a loss.  We find the Spanish owners particularly reluctant to drop prices.

We find many buyers trying to put in ridiculously low offers for apartments which the owners usually reject straight away.  Prices have dropped but what seems to be happening is that things are starting to level off a little as most of the desperate investors have already offloaded their properties, and therefore those that remain are hanging on as much as possible until things improve.

There will always be bargains, you just need to find them.

Good luck with your property search.


For and on behalf of Livingstone Estates who specialise is property in Estepona, property in San Pedro de Alcantara and property in Mijas.  View our Costa del Sol streaming webcam.



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