Would you be comfortable going into the bank and taking out between £20,000 and £70,000 to give to someone for their home after seeing it advertised online? The risks are the same, whether it is in cash or by bank transfer.
Here are the five main risks if you were to do that.
- Is it their home to sell?
- Will everything that you think you are buying be included?
- Will it come with outstanding debts that become your responsibility under Spanish law?
- Will a park contract in your name be guaranteed?
- Will the owners move out once they receive the money?
Anyone buying a home privately is running a risk of some kind, as there can be no guarantees because buying a mobile or park home is similar to buying a car in Spain; lawyers are not involved.
Fortunately, in Park La Posada, there is a system that removes those risks: the SAPA agreement (Sales Agreement by Private Arrangement). It uses us as a third party plus legal obligations to remove all five main risks one by one.
- Only registered owners confirmed by us can sell a home by means of a SAPA agreement.
- The home with standard fixtures and fittings is checked along with an inventory before the purchase can be completed.
- All debts on the home are checked and confirmed as paid, ensuring a debt-free purchase at the time of completion.
- Eligibility for a park contract is confirmed as part of the process with a park contract guaranteed. A free translator service is offered to register the home in the new name with the local authorities.
- Under the terms of a SAPA agreement, the home must be vacated, and all keys must be in possession of the park or park agents BEFORE the final payment.
The park owners like the idea that the community is a risk-free environment for home ownership transfers. Nearly every resident currently living in the community purchased their home with the protection of a SAPA agreement. For that reason, only homes on sale under the terms of a SAPA agreement service will be officially advertised for sale in the park.
The £200 paid to reserve a home for fourteen days covers the administration, which includes a SAPA agreement.
The alternative to the SAPA agreement is to deal with the risks yourself. First, you would need to contact the park owners to ensure that the people selling do own the home, and it has been previously registered in their names with the town hall.
At the same time, ask the park owners to guarantee that they will issue a park contract if you buy the home and tell you what debts will be on it at the time of purchase. You will also need to request a guarantee that they will notify you when the home is debt-free.
Next, you should obtain an inventory. When completing the purchase, make sure you are at the home to check that everything is present and correct. Make sure you have the insurance details as well because the house has to be insured to remain in the park.
For the purchase itself, it is best to arrange an instant online transfer and make sure you are given all the keys the moment the payment receipt is confirmed because, unlike under the terms of a SAPA agreement, the home will not be handed over to a third party to guarantee the transaction’s success.
Finally, you will need to use a translator to register the home in your name with the town council. That is the best way to guarantee that you own the home because, unlike cars, there is no logbook.
When using a SAPA agreement, the Costa Difference team acts as a third party, so you do not need to do anything. They inform you at every stage, and only once everything is in place do you make the final payment, knowing you are guaranteed the keys to the home the moment payment has been confirmed by the sellers.
Registering you as the new owners at the town hall is automatic and FREE with a SAPA agreement.
