How To Buy Property In Spain - The Next Step

Once you have chosen the area where you want to buy your property, book into an hotel for a few days and explore. If possible and practicable, try to visit the area more than once at different times of the year, to make sure you like it in the off-season as well as at the peak of the holiday period. Of course if you live in the USA, you may not be able to do this.

Before starting your search for your actual property, write down your budget and stick to it. Most properties in Spain look so gorgeous in the sunshine that it's easy to get carried away, especially after a few glasses of Rioja! If you are tempted to offer more than you can afford, you will soon find yourself in serious problems!

When you find properties you are interested in, make sure you are able to view them as often as you wish. If any owner wants to restrict you to a single viewing, walk away. After your first viewing a lot of questions will occur to you so write them down before you go back. Try to view the properties at different times of day and in different weather conditions.

I know this has been said already but it can't be emphasized often enough. Before making even a preliminary offer MAKE SURE YOU HAVE A LAWYER. And make sure it's one who speaks both Spanish and your language, one who knows all the ins and outs of Spanish property law, and one you can trust. If you are using an estate agent, don't accept the lawyer recommended by your agent. This may be tempting as it would save you time, but you must have someone who is acting in YOUR interests. You can't be sure that the lawyer would not be acting in the interests of the estate agent as a return for putting business his way. Ask around other expatriates from your country - they may well have someone they can recommend (or someone they can warn you against!). Or ask your local consulate who will probably have a list of recommended lawyers.

I hope these tips on how to buy property in Spain are proving useful - do join in with comments if you agree or disagree or if you have anything to add from your own experience. If you are ready to start looking for your property, you can try http://www.bizwrite.co.uk/realestate/propertyabroad.html - you'll get lots of help with the practicalities as well!

How To Buy Property In Spain - Where To Start

When considering how to buy property in Spain, the first question to ask yourself is: "Why do I want to buy this property?" That is, do you want it primarily as a holiday home or a possible retirement home for yourself and your partner/family? Or is it primarily as an investment or a lettings business?

The answer to this question will help you decide where to start looking for your property. If it's primarily for yourself, you should consider looking inland, as property is much cheaper inland than in coastal areas. However, if it's for business or investment purposes, you'll get a better return if it's near the coast.

Of course you must also look at the question of accessibility. However gorgeous the property might be, you won't be able to enjoy it if it's difficult to get to. If it's near an airport, think how you would manage if the airline you normally use ceased flying to that airport (this does happen). If you have fallen in love with the property while on holiday, make sure you visit the area at different times of year to make sure you still like it all year round! Find out about local amenities such as shopping and sports.

One thing you must remember is that, in Spain, if ownership of a property is transferred while there are mortgage or other debts still owed on it, the new owner becomes legally responsible for those debts! So if you are buying an existing property, make sure you check and double-check via your lawyer that there are no debts on it. You can't count on the seller to tell you!

Remember that you can start your search for your Spanish property at http://www.bizwrite.co.uk/realestate/propertyabroad.html You'll receive every possible help right from the start, including advice on where would be the best location for you.

How To Buy Property In Spain - A Few More Warnings

In order to understand how to buy property in Spain safely, there are a few more things you need to be aware of.

• The most usual way for foreigners to buy property in Spain is to purchase a plot of land from a developer and agree the design of your house from a brochure of standard designs. If you are buying the land and the building from the same company, INSIST on separate contracts for the land and the building.


• Make sure you get hold of the title deed for the land BEFORE signing a building contract. (Your lawyer will help you with this.)


• Also before you sign the building contract, insist on seeing the "termination guarantee". This is a kind of insurance policy that protects you if the builder goes out of business before the work is complete - which does happen. If the builders can't produce one, walk away!


• If the property is on a new development or "urbanisation", get your lawyer to check that it's legal. Most are, but as mentioned in previous posts, some foreign buyers have found their property is built on an illegal development. This means the authorities can confiscate and demolish your property without compensation. This applies even if you purchased an existing property in good faith and it then turned out to be built on an illegal development.


• Check the water supply and sewage. In many areas where excessive development has taken place, the effect on the local water supply and sewage systems has been severe. This could seriously affect your enjoyment of your new home.

Remember all these warnings are to ensure you really enjoy your property in Spain! You can avoid a lot of these pitfalls by finding your property at http://www.bizwrite.co.uk/realestate/propertyabroad.html We take you by the hand and support and guide you through every step of the process!

How To Buy Property In Spain - The BIG Trap

Many people, when they start wondering how to buy property in Spain, think of one thing - that is the so-called Land-Grab laws.

These have resulted in so many heartrending stories that they have almost entered into folklore - and have discouraged some people from buying property in Spain.

So let's try and separate the myth from the reality. These laws were originally passed in the province of Valencia in 1994. The object was to assist local authorities in the development of undeveloped areas and enable them to build low-cost houses.

Unfortunately, however, the authorities in recent years have cynically made use of these laws to enable them to "grab" property from foreign owners. These owners were informed that the land was required for development to help local people - their houses were demolished and they were given NO compensation whatsoever! Of course they were heartbroken especially if they had put all their savings into the property and looked forward to a retirement in the sun. It seemed to some as if it was a deliberate targeting of foreign property owners. It happened in Andalucia as well as Valencia.

Recently this has been declared illegal under European law - which clearly it is! Nevertheless, many owners report that it is still happening.

So what can you do about it? Well, first and foremost, at risk of being repetitive - GET A GOOD LAWYER! Make sure it's a lawyer who understands SPANISH law thoroughly, who speaks your language, and whom you can trust to act in YOUR interests. Before you pay any money or commit yourself to any property, make absolutely certain that your title to it is 100 percent sound. If there is any possibility in that local area of confiscation for ANY reason, or if there is any ambiguity about whether the property is legally built on that land, WALK AWAY.

If you have any questions or any experiences of your own to share, do get in touch. And there are some wonderful Spanish properties - with NO legal problems - on http://www.bizwrite.co.uk/realestate/propertyabroad.html

How To Buy Property In Spain - Some Traps To Avoid

Buying properties abroad in countries like Spain is one of the most exciting things you can do, and it can enhance your lifestyle in a big way. But it's absolutely essential for you to understand how to buy property in Spain in a way that actually WILL enhance your lifestyle and not leave you bankrupt!

First and foremost, you absolutely MUST get a lawyer - don't even think of trying to proceed without one. And of course, unless you speak fluent Spanish, it need to be a lawyer who speaks English, and one you can trust. Personal recommendation is probably one of the best ways to find the right lawyer, or the consulate from your own country may have a recommended list. Some UK and US legal firms have set up businesses in Spain specifically to help expats from their own country. But sadly, even some of these have been proved to be "on the take" - so don't take ANYBODY at face value.

Once you have a good lawyer, do use him (or her). Don't even think of entering into private transactions without going through the legal system, though some vendors will try to persuade you to do just that. One of the reasons for this is that sellers of property in Spain have to pay tax on the profit they make on the house. So they will try to persuade you to put a reduced price into the purchase contract and make up the difference in cash. It's actually quite a common practice in Spain.

It may be very tempting for you to do this if you believe you have found your dream property. If you refuse, the seller might well withdraw from the sale and your dream house has gone!

Your problem is, if you do this, the price in the contract is the price you have "officially" paid for the property. So when YOU come to sell the property, your capital gain will be assessed on that price, not on the real price you paid, so YOUR tax will be much bigger! Your only hope will be to try to persuade someone else to enter into a similar illegal transaction! So don't even go there!

Have you been caught out in this way, or been tempted? Do let us have your experiences. More tips in the next post on how to buy property in Spain. Meanwhile if you want to start looking for your property, come and visit http://www.bizwrite.co.uk/realestate/overseasproperty.html We definitely won't try to involve you in any illegal practices! In fact we'll help you with the legalities from Day 1.