Legacy homes can be sold now without waiting for unforeseen heirs

Tuesday, 28 September, 2021

With the pandemic and the death of many elderly people, the real estate sector has received a significant injection of housing stock for sale and rent. With the legal change on Friday, inherited home purchases that in the past required a warning from notaries to buyers, are no longer valid. Until now, many of these operations could be blocked or be susceptible to mistrust, due to the risk they entail for the buyer, since, if in the two years after the purchase the property is claimed by the forced heir (an illegitimate child), the buyer could not refuse to return it. But in return, the buyer should continue to pay the mortgage granted by the bank.
Historical reasons

In any case, conflictive cases have been very few in recent years, although in the past it had relevance because it allowed the children of Spanish emigrants to have time to find out about the death and return to Spain and thus be able to claim their part of the inheritance. In case of doubt, article 28 of the mortgage law could be a reason for haggling in the final sale price, but in the most doubtful cases it could even block operations for two years. In real estate sources, it is suspected that the prices of inherited homes could reflect a small increase from now on. In addition, this repeal is retroactive, so banks should reduce risk rates in mortgage operations with recently inherited homes. The criteria when issuing an appraisal for the granting of a mortgage guarantee are not affected.

Certainly the pandemic has caused a considerable increase in home inheritance. According to the INE, between January and June there were 103,116 transfers of property ownership by inheritance in the whole of Spain, which gives an average of practically 570 per day. This is the highest number recorded in the historical series that began in 2007.
More inheritances in Catalonia

Catalonia was the autonomous community where there were more home inheritances in the first five months of the year, with almost 18,000. It is followed closely by Andalusia (17,225), and at a distance, Valencian Community (13,610) and Madrid (13,358). The next most prominent regions are Castilla y León (6,553) and the Basque Country (5,246). La Rioja is the only community where fewer homes have been inherited in the first half of the year (1,026 units), while the autonomous cities of Ceuta and Melilla close the national ranking, with 100 and 84 transmissions of this type between January and June.

Why are houses in Mallorca so expensive?

Thursday, 14 October, 2021

The builders point out three factors mainly

Access to housing is one of the main problems that the citizens of Mallorca have. Faced with this situation, many people wonder why homes on the Island are so expensive, compared to those sold on the Peninsula.
The manager of the Balearic Builders Association, Sandra Verger, explains that the...

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REU receives the award for portal of the year in Spain

Wednesday, 13 October, 2021

REU has been nominated in the Real Estate Portal of the Year category in Spain (Balearic Islands). We have been chosen as the winners of 2021/22. This recognition is an honor and a reward for the efforts made throughout the pandemic to improve the services we offer to our partners and customers.

During the awards process, more than 100,000 companies and corporate...

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What is the Okupa movement and how can we protect ourselves?

Friday, 08 October, 2021

Okupa is a movement that began in the 70's that seek the opportunity to forcibly and illegally invade an abandoned apartment, chalet or building. In Europe this type of people is very common, more than everything in Spain due to the difficult situation of acquiring a private...

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What do I need to know about the new housing law?

Thursday, 07 October, 2021

The agreement between the PSOE and Unidas Podemos on the housing law includes the regulation of the rental price to lower the rents for homes in the hands of large owners, based on benchmarks for all contracts in stressed market areas. 

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Real Estate Meeting

Thursday, 30 September, 2021

At the meeting on September 30, we will have the presence of the REU programmers, to present the latest updates and the advantages of publishing all the properties, also publicly, to users who may be interested in buying or rental.

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The sale of homes rises 53.5% in July and marks its maximum in 13 years

Tuesday, 28 September, 2021

The statistic chains five consecutive months of positive rates | The sale of used apartments increased 56.9%


The sale of homes soared 53.5% last July in relation to the same month of 2020, to add 50,258 operations, its highest figure since April 2008, when more than 54,000 transactions were carried out, as reported this Wednesday the...

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