Track shown on catastro

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chrissiehope
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Track shown on catastro

Postby chrissiehope » Tue Jul 17, 2018 1:16 pm

Our casa sale has just fallen through :thumbdown: .

Our potential buyers were getting a mortgage from a UK bank, and apparently they (the bank) are not happy about the set-up of land as shown on the catastro records, and have refused the application

The land is shown as 2 parcelas, divided by a track, and it is the track that is causing the concern. In reality, there isn't really a noticeable track, and if necessary, vehicles such as tractors just drive where they please ! Of course, a bank in UK doesn't appreciate how life in the campo goes, and they seem to be worried about rights of way or similar.

This is obviously going to be a problem if we get another purchaser using a UK mortgage, so we need to somehow get the track removed from the catastro.

We do have a lawyer, who is currently on holiday, so in the meantime I thought I would ask on here.

Has anyone else come across this problem, & if so, how did you deal with it ?
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costakid
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Re: Track shown on catastro

Postby costakid » Tue Jul 17, 2018 7:04 pm

perhaps look for a cash buyer or a Spanish lender.

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Re: Track shown on catastro

Postby katy » Tue Jul 17, 2018 7:27 pm

Could you not ask the buyers to change and opt for a Spanish mortgage.?I didn't realise UK banks did mortgages on property abroad, I thought it was done by equity release, i.e.. topping up.

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chrissiehope
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Re: Track shown on catastro

Postby chrissiehope » Tue Jul 17, 2018 10:51 pm

I'm not in contact with the buyers - I get my info via the agent & then via my stepdaughter, which is not ideal ! It's not a bad idea, tho' I don't know if there's a reason they can't/won't try for a Spanish mortgage - maybe they don't speak Spanish & feel it would be too difficult.... ;-)
I will suggest it tho' (via the same route in reverse !!).

A Spanish buyer would be good - I'll sell to anyone with the money :-D
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Wicksey
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Re: Track shown on catastro

Postby Wicksey » Wed Jul 18, 2018 10:02 am

I would think that changing the catastro will either be difficult, or take a long time. We have been waiting 7 years for the catastro to register the changes in our land boundaries.

I am also surprised that a UK bank would consider lending against a Spanish home. How would they repossess it if they defaulted? Is there any way you can speak directly to the potential buyers? I hope you can get it sorted out Chrissie.

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chrissiehope
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Re: Track shown on catastro

Postby chrissiehope » Wed Jul 18, 2018 11:11 am

Yes, I was surprised too - I would have thought they would get a mortgage on their UK property (like what we did ;-) )
Edit: I don't think there is any chance of speaking to them - I'd probably end up on the naughty step (or worse) if I interfered.....
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probe
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Re: Track shown on catastro

Postby probe » Wed Jul 18, 2018 12:48 pm

Many of the UK banks have International subsidiaries that will loan on foreign properties. We got our mortgage through Natwest. They have an International arm in the Isle of Man and now I think Guernsey or Jersey. It means that you can take it out in Euros (tracked to Libor) which we did and at the time had a very favorable rate. We had a similar issue with a gas pipe running across our land but after a phone call with them they accepted that this was normal and not a problem.

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Re: Track shown on catastro

Postby Gasman » Wed Jul 18, 2018 6:33 pm

Does the track actually go anywhere - is your land fenced off, and thus fenceable across the path - who uses it at present as access - how long has it been since A you owned the land, and B since anyone used the track ?
Can the lawyer establish if there is any current official, perhaps even registered, right-of-way, when he gets back from his hols, of course, by which time the prospective new owners will have found somewhere else!
All of these pertain to whether changes to the cadastre might be made, and whether there is indeed a problem for prospective owners ... I can see a bank at a distance wondering about two parcels being sold as one.
How about selling them actually as two parcels ... but then the new owner probably does one just the one undevisible plot ...
Nightmare!!

Sorry for you Chrissie, when you nearly had them on the hook!

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Re: Track shown on catastro

Postby Pamela1 » Wed Jul 18, 2018 10:30 pm

We have 2 parcels of land with a track seperating both...the track is used by the water board and we have no problem with that..just a fact of life in the campo.The track didnt put us off buying because we also use it to do a full circle of the land and ita another way round to our house..

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chrissiehope
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Re: Track shown on catastro

Postby chrissiehope » Wed Jul 18, 2018 10:53 pm

Gasman - there isn't actually a track at all !! When you look on the aerial view on Google, you can see quite clearly where the actual tracks run - I have sent a copy to the purchasers solicitor via the circuitous route mentioned earlier - god knows when it will finally reach them ! It's probably too late, as you say - the buyers will no doubt be looking elsewhere by now.
We shall see......
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peteroldracer
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Re: Track shown on catastro

Postby peteroldracer » Thu Jul 19, 2018 8:44 am

If the prospective purchasers have looked on this forum no doubt they will have read many times “any problems, walk away”!
The saddest people are those that cannot laugh at themselves

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Re: Track shown on catastro

Postby wollie » Thu Jul 19, 2018 11:14 am

I am guessing that if the track is on the title documents it be difficult if not impossible to have removed
as it seems to have excisted for some purpose at a time.
Can i ask if the track as you say has any connection with the entrance to your casa?
Would it be an option to create 2 separate escreturas and just selling two separate lots.
For all intents and purpose this just be a paper excercise, i would imagine this be pretty straightforward
as there be legallities with the original sale but we never know with lawyers etc
I can understand where the buyers are coming from, if this cost effective and these people really
want to buy it may be a possible solution...

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chrissiehope
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Re: Track shown on catastro

Postby chrissiehope » Thu Jul 19, 2018 12:58 pm

It may be a solution, but it would be down to our lawyer to say yay or nay (when he's back from his hols, whenever that is ;-) ).
Alexandr for President (Squire for PM !)

Outside of a dog, a book is a man's best friend.
Inside of a dog it's too dark to read (Groucho Marx)


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