All Forum Posts by: Randall Re II

 It's not the repairs, its the damage that was done that they withheld. If they withheld something simple, what else are they possibly hiding as well is my thought. You sign legal documents pretty early on about disclosures after your offer is accepted. 

I PM'd you. 

 They didn't mention any of these repairs or damages in the disclosure. 

 Yes, however, they never mentioned anything about the repairs. They could have improperly repaired them. There could be mold that I'm not aware of. 

Max T.

All I've spent so far is a thousand dollars and moving preparations to move into the place. It could potentially cost up to an extra 100 a month in insurance and if anything comes from it down the road, I highly doubt I'll be covered for insurance because its a known issue. 

Hey everyone. I bought my first property. I close in a few days and my insurance company pulled up the property that had water damage on two separate incidents and currently, both are open insurance claims. The seller never said anything about water damage and the info from the insurance claims is very vague. I've paid for inspections already, and now I'm a few days out and this comes up. The most recent water damage insurance claim is $4,000 it says and only 3 months ago it happened, so I know they lied about it when they never mentioned it or roof damage to the property. Do I have any legal course of action, or any other action? My insurance company says insurance will go up, and even though they say they will cover anything that comes up like mold or something down the road, I know better then to believe an insurance company. It's unknown if it was a bandaid fix on the property or professionally done with legal responsibility or not. What are my options?

Mike,

Thank you for the advice, and honestly, it would be for short-term rentals that I'd be able to use down the road so mostly investment, but some personnel use. I loved Spain when i visited there and there was no shortage of people visiting which provides an opportunity. 

Erwin,

Short term rental would be the path I'd like to go, with an open mind to flipping down the road. I know that once covid goes away in a year or two, the whole world will go on a huge traveling spree with Spain being a big destination. 

Are there any companies in Spain that help with long-distance investment properties? 

Thank you Inigo. It's been a goal of mine to one day invest overseas in places just like Spain. I spent a few weeks in Spain and loved it.