Fuengirola - Property and Businesses for sale on the Costa del Sol

Buying property in Spain

CHOOSING A PROPERTY 

When considering the purchase of a property in Spain , it is important to gain a clear view of the type of property you require and the best location to suit all or most of your needs.

Some of our clients approach us knowing exactly what type of property they are looking for. Others only have an idea and are looking, initially, to investigate the possibilities available to them. We are here to show you the possibilities, locations and to spend time with you, advising if necessary, whilst you streamline your ideas. If you wish, we will show you different types of properties in different areas in order to help you make your final decision. Unless you know the area extremely well, we would recommend that you keep an open mind on areas you might consider. In the past, we have had clients who are very set on one area, convinced they will like nowhere else, and then when we have taken them to another area, they have decided they like it better than the one they were set on. Be open minded and we have no doubt that we can find you a property to suit your requirements and budget. We already have over 13.000 properties on our database, which is increasing daily, and contact with nearly 600 other agents on the coast with whom we share properties. In the Costa del Sol , it is advisable to find one agent you feel comfortable with, and stick to them. The chances are, if you use several agents, they may well be showing you the same properties. Using one agency should ensure a dedicated service from that agent. If it doesn't, change agencies. If you should choose us as your agent, we guarantee to give you our undivided attention in order to meet your needs. We are a small family business, not commission driven, and pride ourselves on the quality of attention we give our clients.

THE BUYING PROCEDURE

1)  Contact us with your requirements or to arrange a meeting

2)  Decide what type of property you want (see 'Choosing a Property')

3)  Decide on the area/s you would like to live (see 'Choosing a Property')

4)  View properties - take you time - choose the one you wish to buy

5)  Make a verbal offer through us. We will negotiate until a price is agreed

6)  Appoint a Lawyer: No transactions of a legal nature should be attempted without the representation of a Lawyer. We would be happy to introduce you to lawyers should you so wish.

7)  Reservation Fee: Once you have made your offer, the seller may wish you to pay a reservation fee/holding deposit. This will ensure that the property is taken off the market and that the price is fixed. The reservation fee will be held by a lawyer and will only be refundable should a legal problem arise whilst the lawyer is doing his checks. Should you not wish to pay a reservation fee, the seller is not legally committed to selling the property to you and may not even agree to the sale.

8)  The Lawyer: The Lawyer will formalise the agreement and should be fluent in your language. He/she will also carry out various checks on the property including that there are no encumbrances or liens, e.g. mortgages, loans or outstanding debts and that the sale of the property is legal.

9) Exchange of Private Contracts: Once the lawyer has made his checks, he will prepare a formal offer and agreement in conjunction with any requirements you may have. The exchange of private contracts or the signing of an option to buy will normally take place about two weeks after the acceptance of an offer and payment of a reservation fee. The contract will set out all the agreed terms and conditions of the purchase including payment terms, completion dates etc. At this juncture, it is usual for the buyer to pay a 10% deposit which is non-refundable. This may be on top of any reservation fee or less any reservation fee which may already have been paid.

10) Completion: On a specified day, the buyer and seller (or their authorised representatives) will meet at the office of the Notary to sign the 'Escritura de Compracventa' (title deed). The Notary ensures the escritura is drawn up correctly and that the purchase price is paid to the vendor. He also certifies the identity of the parties, witnesses the signing of the deed, arranges for its registration (in the name of the new owner) in the local property register and collects any fees or taxes that are due.

Taxes in direct relation to the purchase

COPING WITH BUREAUCRACY

To help you through the bureaucracy of owning property and living in Spain , you will need a Gestor. A Gestor will advise you on all bureaucratic procedures. Bureaucracy is long and drawn out in Spain , be patient and if you take our advice, do not try to cope with it yourself.

Charges for a Gestoria will vary, so it is probably worth meeting with a few to get an idea of their charges. It is also important that you feel comfortable and able to communicate (in you own language) with the Gestor you choose. There are lots to choose from on the coast but word of mouth recommendations are usually the best. On the whole, charges are very reasonable and well worth the service they provide.

You may also need a good Asesor Fiscal (book-keeper / tax consultant) to ensure you pay any taxes you may be liable for. This will quite often be the Gestor . Again, ask around, as prices and ability do vary.

AFTERCARE AND ADVICE

After you have purchased your property our job does not completely end. We are happy for you to visit us at anytime for help and advice. If we can help, we will. If we can't, hopefully, we will know someone who can.

One of the most important pieces of advice we feel we can give to all our clients is ask questions - never assume something is being dealt with. If your questions are related to legal information, ask someone who can give you the correct answer - your Lawyer or Gestor. People who have moved to Spain are very friendly and eager to give advice - this is great in certain situations, but not where legal issues are concerned - their answers may be correct, but they may also be wrong.

HAPPY HOUSE HUNTING!!

If you want to know more about the law in Spain , we highly recommend the publication 'You and the Law in Spain ' by David Searl.

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