Among other due diligence procedures (your solicitor/lawyer will help you with it) you MUST write a letter to the condominium administration to find out if that particular fraction of the building (the apartment you intent to buy) owes any condominium fees to the company who manage it.
Just for your information a buyer recently had to pay close to € 5.000,00 in condominium fees owed by the last tenants (the debt does not belong to people but the apartment/fraction of building which can be a tourism villa inside a tourism development or others).
Take that in mind next time you try to buy a property in the Algarve with this characteristics.
All the best!
BEFORE (!) you buy an apartment in Portugal do this...
somabonus
25 January 2014 14:45:08
7
GuestPoster10236
24 March 2014 23:22:36
0
I'm sorry, but this is not true. The debt belongs to whoever owns the apartment at the time that the money is owed. What might have happened, is that the €5000 were set to be paid at say May and the apartment was sold in April, for example. If this is not the case than the buyer was swindled...
In any case, your suggestion is a good one. I'd also ask is any large work is planned for the near future.
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