Ibiza Property For Sale Holiday
Villas Or Apartments
Buying Property In Ibiza, Spain : Defect Disclosures
The better you understand defects and disclosures
the better prepared you are to negotiate with the villa or
apartment seller on which defects will be repaired and which
will be reflected as a discount from your offer.
Home surveyors focus on two kinds of defects:
-
Patent defects, or those that you can
see, which may include water stains, ceiling cracks, sticky
windows or sagging floors, and
-
Latent defects, or those that are not
readily visible, which could include faulty plumbing,
asbestos ceilings or dry rot.
-
Defects of either type could be trivial
or serious. Only an inspection can help you decide which
defects require immediate action and which can be postponed.
When a seller or estate agent reveals to
you a material fact about the physical condition of a villa
or apartment, that’s called disclosure. A material fact
is any information that can affect the price of the home or
your decision to buy it at all.
This could include information about periodic
flooding in the basement or a proposed commercial structure
on nearby property. The Property Information Form which the
seller is obliged to complete contains a mandatory section
covering aspects of disclosure including problems with neighbours
etc.
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