A House in Spain? Do it Safe

Who to go to when planning to buy a house in Spain

The New York Times Real Estate section talks today about a decisive decision: to use or not to use the services of a real estate agent.

"Why should a buyer bother using an agent?", asks the paper, "to protect his or her interests in an expensive, often complex purchase that can become even more complicated by the labyrinthine co-op approval process".

Quite true. “When you work with a buyer’s agent, their fiduciary responsibility is to you as a buyer,” said Walter Molony, a spokesman for the National Association of Realtors in New York. The organization has helped establish state laws that require clearer disclosure to consumers about which party in the transaction an agent represents.

So, who should you rely on when talking about Spain? It's Consejo General de los Colegios Oficiales de Agentes de la Propiedad Inmobiliaria de España.

Whenever you're planning to buy a house in Spain, first check if you're real estate agent forms part of this association. Unfortunately, they're web is only available in Spanish, but you can always call them and try to get someone who speaks English on the phone.

Prices are going low in the Spanish housing market. If you're considering to get in the business, get in safely.

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