There are two different types of warranties for buyers of a new-build property
When purchasing a new-build property, the buyer has at his disposal the guarantees of a property provided for in the Spanish Construction Planning Law, Ley de Ordenación de la Edificación (LOE), which are normally the so-called « decennial guarantees », as well as other types of guarantees, which are those provided for in the Civil Code.
Guarantees of the Spanish Construction Planning law – Decennial Insurance
In the warranties of a dwelling included in the Building Planning Law (LOE), three different warranty periods are established, depending on the type of damage to the dwelling:
- A first period of ten years to guarantee structural defects. These are the most serious defects that affect the mechanical resistance and stability of the building, such as the floor slab, the structure, the load-bearing walls, etc.
- A second period of three years to guarantee the defects of the building that affect its habitability, such as, for example, dampness or possible faults in water, gas or electricity installations, etc.
- A third period of one year to guarantee defects in the finishes of the property, such as, for example, faults in the paintwork, chipping of tiles, etc.
The builder, the architect or the quantity surveyor (depending on their respective responsibilities) are obliged to have insurance to cover these damages. It is the so-called Decennial Insurance. But, be careful because the terms of the guarantee of a house do not come into force when the buyer acquires the property, but when the act of end of work is signed and the property is delivered on the part of the constructor to the promoter.
Guarantees of a property provided in the Civil Code
Regarding the guarantees established for home buyers in the Civil Code, we also distinguish two different periods depending on the defect that may appear, and they work both in new homes and in second-hand homes:
- Firstly, a very short period of six months to claim for any hidden deficiencies or defects that the home may suffer from and of which the buyer had not been informed, because if he would have known about them it would surely have affected his purchase decision.
- Secondly, a period of five years from the moment the sale of the property is formalized. The guarantee is contemplated for the contractual responsibility of the seller, who has the obligation to deliver the property with the characteristics agreed in the contract, including its building specifications and plans, as well as in perfect conditions of habitability.
When buying a property it is important to make sure that it is in good condition. It is important to get good advice when buying a new home and not to make a hasty decision. If you need to know what the guarantees of a new home are, contact our professionals. At Imont Legal & Taxes, we have lawyers specialised in International Real Estate Law, who can advise you in a professional manner.