You may have heard the term ‘snagging’ before and may be wondering what it means. Snagging is an informal expression used within the construction industry which is used to describe the process of defect identification and resolution on buying off-plan properties.
COVID-19 has brought in its wake a host of nasty effects, both direct and indirectly.
Directly, by infecting and killing hundreds of thousands of vulnerable people the world over, from all ages.
On buying off-plan property in Spain, it is normal to make a 30 to 40% down payment in instalments and the balance is paid at completion, before the notary.
In recent times, inheriting property in Spain has become somewhat of a luxury for many, due to the high taxes that have to be paid. In 2019 the state pocketed approximately 50 million euros in unclaimed inheritances.
You may have heard the term ‘Licence of First Occupation’ (LFO, for short) before and wonder what the fuss is all about. In Spain, an LFO is a big deal when you buy property, especially if it is off-plan.
This is the first of a two-part series dealing on possession.
Congratulations, you have found a buyer for your Spanish property! You should now instruct a lawyer to represent you in the sale, particularly if you are non-resident in Spain.
When you first move to Spain, there is a checklist of things that you need to do to become a fully legal resident. One of these important things is getting your “empadronamiento”, sometimes shorterned to “padrón”.
