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Buying an Apartment

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If you are a visitor for the first time or you have been a frequent visitor and you are interested in buying an apartment in the Torre, there are usually a number of apartments for sale from time to time.  The Torre consists of different apartment sizes, studios, one bedroom and two bedroom apartments, those with separate kitchens, kitchens built into the main living area and apartments with different amounts of balcony space.  

The community keeps a record of apartments that are available for sale, but this is limited only to those owners who have advised the administrator that they seek to sell their apartment.  Apartments are often advertised in Sur, the local newspaper, with local real estate agents and even occasionally on notice boards in the Torre, the local supermarket (Supermercado Sol) and the notice board in the Farmacia near the roundabout down the hill. A sure fire way of establishing whether any apartments are for sale is to ask at reception or simply ask around members of the community either in the Pool Bar or the Torre Corner Bar.  

As well as the most important factor being obviously the price that you would pay for an apartment there are other matters that you should consider.  Taking into consideration all these factors, buying an apartment at the Torre may be the best decision you ever made.

 

Community Fees and Other Periodical charges

The community is funded by collecting community fees from the individual owners and these community fees can change depending on decisions that have been made in respect of the administration of the building, major works such as repairing or in the future replacing the lifts, work done to the swimming pool and the exterior of the building etc.  

You also will be liable to pay electricity costs (which are metered in each apartment) and local taxes such as the Basuratax which covers the collection of refuse and annual real estate taxes.  An assessment of these outgoings is essential to any owner considering his or her annual budget.  For those who wish to use the Torre only for holidays, very often the community fees for sizeable apartments can far exceed the costs of renting an apartment for the periods that a person wishes to stay. 

 

The Rules of the Community

Looking at a possible purchase of an apartment with a view to undertaking certain works to the property may be subject to community rules.  There community rules restrict certain works to the apartments, particularly those that affect the exterior of the building.  The community and its members decide on limits to alteration works to the properties.  

 

Charges or Embargoes attached to the Property

Like in many countries it is possible to charge the debts of an owner to the property itself.  On occasions those who do not seek proper legal advice could end up purchasing property, even at the Torre, that has charges attached to it by the Inland Revenue (Hacienda).

 

Arrears

Although Spanish property law requires a seller of a property to declare in the contract that community fees are paid up to date, the responsibility to pay any arrears attaches to the property and as such it is essential to make enquiries with the community prior to purchasing an apartment, as a new owner would be very disappointed to find that the community fees are substantially in arrears after the previous owner has moved to an unknown location in Spain or returned to England, Sweden, Germany, France or worse outside the EU.

 

Gestoria

If you already live in Spain you will almost certainly understand the need for a good Spanish Gestoria. A good Gestoria in Spain understands the Spanish administrative system and will advise you and sort our matters relating to property, taxes, importing and registering or even simply changing the ownership of cars. 

You will most likely need an Abogado (Lawyer) to advise in respect of a property purchase or a Spanish Economista(Accountant) depending on the complexity or the situation.