The fibs that property vendors tell, in Spain at least
Vendors always went to highlight benefits whilst reducing perceived costs, but telling porky pies is another matter. In a country like Spain, where the information you get from estate agents is patchy at best, buyers often find that the property or plot size ain’t half as big as advertised. Here is a list of some other common fibs told by vendors.
- There is no damp or infestations
- The electrical installations are in perfect condition
- This place never gets flooded
- Taxes and maintenance costs are low
- It’s a quiet area
- They are going to build a golf course here
- Your sea view is safe
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A sign of the times – a mortgage that costs nothing
A Spanish savings bank offers to lend money for free, at least for 3 years. A mortgage with no interest or capital repayments at all for the first 3 years, and no capital or interest roll up for later years. A loan with no admin fee (apart from notary costs, I guess) and a LTV of up to 90%. What is going on? Read more