Buying a Finca or Farm in Spain
Although commonly translated as 'farm', the word finca can have several meanings. It can mean a large country estate or a small rural property. Generally though it refers to a small country property, very much sought after by the foreign buyer. There are several reasons why someone would wish to buy a finca, not least of all the peace and quiet, away from the hustle of the coastline. Some may buy a finca because of their love of animals and such a property offers the space. Or maybe someone wants to grow their own fruit or vegetables and needs the land. It is not so easy to buy a finca suitable for commercial growing as there are many considerations such as soil type, irrigation etc. Probably the most important deciding factor is the price of land, compared with that of the Costa.
Twenty years ago, fincas could be bought for very little but in recent years the interest in them has grown, therefore the prices have risen dramatically.
When purchasing, you must consider, 'Is there an ESCRITURA ? If so, is it in the seller's names ? Are the boundary posts where they should be ? Is there guaranteed access ?
There may be many family owners of the property so a dozen people at the NOTARIO is quite common but not really a problem as they all want their money.
You may also face problems with domestic supplies such as water and electricity. Many properties of this type have neither or may have a well for the water supply and the new owner would be responsible for installing these supplies. If the supplies are nearby, permission and installation is usually quite prompt so not a problem.
On a positive note, if there is already a building on the land, even a ruin, permission is automatically granted to renovate that building or for its demolition and a new building to be erected.
If there is no building when you purchase the land, usually a minimum of 10,000m2 is required for building on rustic land, although different areas may have slightly different levels, depending on how the council have zoned the land. New buildings can vary in building times.
One thing for sure, if you do buy a finca, you will enjoy the Spanish countryside and you will find it very different from life on the coast. Maybe it is the life for you?
Articles provided by www.idealspain.com