New build 10 year ‘Decenal’ property insurance Spain
buying a newbuild get your solicitor to check that the decenal insurance is in place (and included with your deeds), that it is not your responsibility as ‘Promotor’ and that the cover is adequate for your purposes, (you may wish to pay the extra for a ‘belt and braces’ policy extension).
The sooner you report defects to the builder (in writing) the better, so it’s worth having a snagging survey check and further check before the 3 year and 10 year deadlines expire (especially if there is any evident cracking in the building structure).
The most critical defect commonly involves inadequate foundations, and you should take every opportunity to ensure that your newbuild includes adequate foundation design and control, even if this means paying the builder more money to carry out necessary sub ground works.
The current market downturn means that many builders are in financial difficulty. It is hence best to get all defects remedied prior to payment of final monies.
NB:- Information for advice purposes only. Proper legal and safety procedures should be followed for all property purchases and building works.
Copyright- Mark Paddon 2009
Mark Paddon BSc Hons Building Surveying MCIOB.
Graduated from Liverpool Sir John Moores University in 1992 with a 1st class honours degree and prizes for best dissertation and best student. Mark has worked for 6 years in the Valencia community Spain proving structural surveys for home buyers, defects advice and expert witness reports. Mark has also consulted for Channel 4’s ‘Selling Houses Abroad’ (appearing in 3 episodes) and writes property related columns for two local papers.
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