Returns home buying plan


In Los Berrocales, new district southeast of Madrid where 22,000 homes will be built, sold off plan.
In Los Berrocales, new district southeast of Madrid where 22,000 homes will be built, sold off plan.

Abuses, excesses and failures in housing sales plan, when not yet laid the first stone, were the order of the day during the time of Spanish housing boom, the decade between 1997 and 2007 in which the houses were dispatched and everything else was not important. "We have seen the collection of fees exorbitant in the sale of land, hiring architects and construction linked to any manager to price off market or attracting partners that were made to believe that the cooperative available land to build their homes and it was not, "says Marta Serra, director of the Defender of your home.

Other buyers have experienced delays in completion of the work, the loss of the advance money, or buying flats that had little to do with the initial plans. The firm has located more than 500 ycooperativas promotions in Spain who are in trouble. "This means that thousands of families who have purchased plan have neither home nor have they recovered the contributions made for the payment thereof" continues Serra.

Now that the waters return to normal, this form of virtual trading returns to the main Spanish cities, especially Madrid and Barcelona and some coastal towns, where only surplus and there is already land suitable for building. "In the last four months have increased by 300% volume interested in buying plan of our homes," says Juan Velayos, CEO of Neinor Homes, which has 35 new developments for sale, representing about 2,300 homes . The same applies to another of the most active companies. "We found a substantial increase in sales plan, both in Madrid, where we have 90% of a residential sold when we are still under construction and we are one year left for delivery, as in Barcelona, ​​where we sold 60% of a promotion launched in late 2015, "says Cristina Ontoso, director of marketing and commercial Via Célere.

The company must prove to be the owner of the site and have permission.

Past abuses appear to have undermined the confidence of all homebuyer, but is more cautious note. "They are more cautious and more demanding, seeking real estate advice and do assert their rights," says Diego Galiano, present the General Council of Associations of Real Estate Property Agents.

Meanwhile, the new generation of developers do not want to reminisce malpractices and claims to have become aware to not make the mistakes of the old school. "The industry has changed a lot in every way. The industry is professionalizing, new players have come to stay, and we are not here to a new pitch," says Velayos. However, the sale plan is still in its infancy, "so you have to be very vigilant when it generalizes and take the market a further boost," says Galiano.

So far, the legislation does not appear to be on the consumer side, which since January 2016 is more unprotected. "The new legislation limits the rights that until now had buyers: it is only required to guarantee repayment of the money advanced once construction has building license and, in most cases that come to us, the promoters and cooperatives raised money from buyers before obtaining it, "argues the director of the Defender of your home.

Buying a home that does not exist has its advantages. What is more time to save and afford to pay. But it carries substantial risks when the buyer signs no more. To avoid trouble should have tied up some loose ends. The first is to have the most information about the developer and demand attesting to own the site and have building permits and other permits. Only then the buyer can know whether the delivery of housing is realistic.

The customer can demand a penalty if deadlines are not met.

Is the price realistic? In a cooperative the price is not closed, so to have some idea must calculate how much it cost the site, which architect will do the project and how much to charge and how much they earn the builder and manager.

Important is also claim the plans to "know in detail the equipment, the exact room size, layout and orientation of windows so you can choose" advise the General Council of Associations of Real Estate Property Agents. Should be collected brochures and advertising documentation of urbanization, as all of this is integrated into the contract to be signed.

With delays in the delivery of the floors must be careful. "Demands that the contract includes a penalty for the developer in case the delivery of housing and even the possibility that the company must pay the rent of a home buyers is not met if the delay extends over time, "he encourages this group. And an essential point. There is an insurance or a guarantee to ensure repayment of the amounts which the buyer down payment of housing prices if finally not built.

The last caution is to review in detail the house before signing the scriptures. "It is essential to check that everything fits to the memory of initial quality and that housing meets all legal requirements, such as height of the rooms. It is advisable to perform this inspection accompanied by an architect or technical architect in order to claim before signing" said Galiano.

In practice not all companies are willing to collaborate and to deliver all this documentation. "In these cases only be unable to accept the contract and seek another promotion competition act more transparent way or, if you decide to accept it, find an expert to advise on the possible unfairness of certain clauses or the possibility of requiring information required by the rules of consumption, "advise the General Council of Associations of Real Estate Property Agents. Ultimately, you can go to extrajudicial means for conflict resolution or to the courts.