Sunday, August 27, 2006

Spanish community accounts

How do I go about seeing the community accounts and bills for the block of flats where I live?

Answer. In article 20 of the Shared Property Act it says that the Community Administrator or President must make available all documents to members of the community on request. In article 19 of the same act it says that the Secretary of the Community must keep a record of all meetings, agreements and other relevant documents covering the last 5 years. The law stipulates that the role of Secretary and Administrator can be undertaken by the same person or separately. Sometimes if the community does not pay a professional to carry out the role of Administrator or Secretary these roles are undertaken by the President of the Community.
To see bills and accounts you should contact the Community Administrator or President who by law should make this documentation available to you.
Related subjects: Application to see information, access to bills, accounts and other documentation relating to the community.

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posted by Euroresidentes at 1:25:00 PM 0 comments

Sunday, August 20, 2006

Compensation for Spanish properties bought off-plan

I have paid a deposit on a flat at planning stage. When I paid the deposit I was given the plans for the flat in which the total living space measured 74m2 and cost 120,000 euros. However, when it came to signing the sales contract the promoter told me that the main staircase had to be moved which affects 6m2 of the total metres in the flat which means that the flat now measures less. The promoter has offered to discount 6000 euros from the total price but according to my calculations these metres are worth more than 6000 euros. Do I have the right to ask for a larger discount having already paid a deposit or do I have to accept the discount of 6000 euros offered by the promoter?

Answer:

You are right that the discount is less than the actual calculated value. According to my figures the discount should be approximately 9000 euros.
You can refuse to sign the sales contract but you need to evaluate whether the 3000 euros are worth taking out a claim against the promoter. You also have to evaluate the value of the flat given that a new flat would now cost more than the price originally agreed with the promoter.

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posted by Euroresidentes at 1:23:00 PM 0 comments

Monday, August 07, 2006

Modification of property sales contract in Spain

Question:
It is possible to modify the sales contract with the Sales Promoter if you don’t agree with all the clauses or if you think that there are any important clauses missing? If so, how do you do it? I am in the process of buying a new flat and there are some important clauses missing from the sales contract I have been given to sign. I would be very grateful for some advice regarding this.

Answer:
You have every right to negotiate your sales contract with the promoter and ask about any clauses you believe to be missing. However, given the housing market at the moment where demand outstrips supply I think it would be practically impossible for you to negotiate on your own terms. Promoters often have the attitude of ‘take it or leave it’ given their position of strength. Nevertheless it is very important that before signing any contract that you are given a copy so that you can consult a lawyer and check the meaning of all the clauses. If there are any missing clauses it is important to know what the applicable legislation is.

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posted by Euroresidentes at 1:21:00 PM 0 comments