Rogue agents ‘rumbled’ in spain

New laws have recently been passed in Spain to protect home-buyers from fraud…

Andalucian law, Decreto 218/2005, was recently passed in order to safeguard the consumer against unethical and inaccurate practices in the real estate industry. In the same way that the UK has HIPs, Andalucia now has its DIAs and FIs.

Documento Informativo Abreviado (DIA or Summarized Information Document)

This version applies to new-build properties, properties under construction, resales which have undergone architectural alterations and rental properties.

Contents include location, number of units, developer, quality report, taxes and duties, price and method of payment, licenses, maps and floorplans and so on, dependent on which type of property is being referred to.

Ficha Informativa (FI or Home Inventory)

This document is for resale properties, i.e. those where a second or subsequent transfer of title has taken place but which haven’t undergone any architectural alterations. Contents include location, price, nota simple (extract from Land Registry), community fees, copy of Ibi (Council Tax), utility connections, year of construction and so on.

A spokesperson for Duchy Estates, commented: Hopefully these new measures will reassure the consumer that when they decide upon a new home they are making an informed decision with accurate information at their fingertips. Furthermore, it’s yet another nail in the coffin for rogue real estate operators who won’t be able to evade the law and the Costa del Sol’s recent turbulent times will finally become something of the past”.