If you have bought a property from a Bank or an Auction and this may be years ago, the Valencian community has collected this type of properties. Not all municipalities are affected and you should consult your lawyer to find out if the municipality from which you own property within the Valencian community is on the list or not.
This new law presented on June 5, 2020 by the Valencian community is for the expansion of public housing and exercises preferential acquisition rights.
The homes or buildings acquired by the Valencian community will be for public housing for people in vulnerable situations, or who meet socioeconomic requirements.
So, what does this mean if you own a property that you bought from the bank and are now selling?
If you have found a buyer for your property, you will find out from your lawyer that as of June 2020 you already have a charge on your property from the Valencian community, and you must complete a formal process to withdraw it by offering your property to the Valencian community to see if they would like to buy the property at the price it is selling. Obviously, this could unsettle your actual buyer.
This new legislation introduced by the Generalitat Valencia would seem totally inappropriate to affect people who have bought a property from the bank, say, 3 to 7 years ago … before this legislation even existed.
But the fact is, this new legislation already exists and affects you whether you own a bank-bought or auctioned property within your list of cities.
How to solve this problem if you sell a property?
There are 3 forms that you need to fill out, your attorney can help you with this. These 3 forms signed by buyers and sellers, one of the details mentioned within the forms is the sale price of the property.
These forms accompanied by other documents, including sales contracts and deed, must be presented in person to an office responsible for this legislation in your city / municipality.
The Generalitat Valencia has 60 days from the day after the presentation to indicate if they would like to buy your property at the price for which you are selling it. If they don’t respond within 60 days, after this period, you are free to sell.
Communication may be possible with the office for an earlier response.
Mevilla Real Estate – The agency that makes your sales easier
If you want to live on the Costa Blanca to enjoy its wonderful sun, its extraordinary beaches and its relaxed and healthy lifestyle, contact MEVILLA, the estate agents in Cabo Roig who will find the house of your dreams and help you on selling or buying process till the end.
We speak fluently the main languages of Europe, so you will not have any problem of understanding with us.
If you want to know us better, you can follow us on social networks and check our extensive activity.
If you have any questions about selling or buying properties in Costa Blanca please contact us.
Fill in the contact form that appears on the web or send us an email to info@mevilla.com
We will be delighted to receive your visit at our offices located at Calle Torreón – Local 7 – 03189 Cabo Roig – Orihuela Costa (Alicante) Spain.
Telephones: (+34) 966 761 390 | (+34) 606 046 275.