Spain Real Estate News
Mortgage subrogation involves a modification of the loan obtained for buying a property. It is a common request to improve its conditions when circumstances allow it. Besides, it is also a usual practice when selling a property with charges.
Although mortgage subrogation is a frequent operation, it is advisable to know all its details to decide if it is a good idea or not to request it. Learn more about mortgage subrogation below.
Selling a home with a real estate agency or doing it on your own is the first question when you decide to put a property up for sale. Both possibilities have their advantages and disadvantages. Knowing them will allow you to make the best decision.
However, your choice can also depend on other issues: whether it is necessary to sell the property quickly, knowledge of the buying and selling process or the time available to advertise the home and respond to potential buyers.
Knowing if it's possible to sell a mortgaged house is a common question among homeowners. Firstly, we confirm that, in Spain, it is doable and not too complicated, and there are several ways to achieve it.
We must consider that most mortgages last a minimum of 20 years. Therefore, it is usual to purchase and sell mortgaged properties. Sometimes, it is even easier to sell a home with a mortgage since buyers see it as an opportunity to buy at a lower price.
Talking about the money required to buy a house is much more than talking about the sales price. On the one hand, it is essential to have some savings. On the other hand, you have to consider what the mortgage interest adds up to. Thirdly, any real estate purchase and sale operation involves expenses.
...continue reading "Calculating the Money Needed to Buy a House: Savings, Expenses and Monthly Income"
Buying a bank repossession is one of the alternatives we should consider when looking for housing. These are properties that, due to non-payments and foreclosures, have passed into the hands of banking entities. Opting for this option has many advantages for the buyer but also some drawbacks.
...continue reading "Bank Repossession Properties: Pros and Cons?"
The real estate market shows signs of a slowdown. Home purchases fell 14.5% year-on-year in June 2023, according to data from the General Council of Notaries. But how does this reality influence housing prices? Knowing the evolution and prospects of the market is essential to make a decision such as buying a home in Spain.
...continue reading "Buying a Home in Spain: How Do We Expect the Market to Behave in the Final Stretch of 2023"
Holiday rentals must meet specific requirements to be comfortable and enjoyable for seasonal renters. Also, we should consider another factor: the growing number of digital nomads and people who travel abroad for work or study and need temporary accommodation. Additionally, we must offer them some extra comforts.
These amenities and small details make a home attractive in the first place. Secondly, providing an unbeatable experience for the tenant will result in good reviews and the best possible promotion.
The first step in the housing search has a name: Internet. Therefore, to reach buyers quickly, the essential step is to put the property on the Internet. However, advertising a property for sale on specialized real estate platforms and portals does not guarantee visibility or good reaching power.
Competition in the real estate market is enormous, and standing out isn't easy. It is possible to go to specialists who do the work for us and take care of the entire sales process, advertising included. But it inevitably comes at a cost we don't always want to bear.
The valuation of a property is an essential process in real estate, which arouses curiosity and, sometimes, concerns in those involved in buying or selling properties in Spain. In formal terms, the valuation is the objective appraisal of the property. It sets the actual value of the property in the market. In some cases, it is mandatory, but in others, it is only of informative interest in a constantly evolving market, such as real estate.
...continue reading "What Should You Know About Property Valuation in Spain?"
After the rise in interest rates to 4.25% and the Euribor at its highest for years, the number of mortgages has decreased in annual rates in Spain, and their average amount too, according to recent data from the INE. But this situation has had another consequence: more and more people are opting for early mortgage repayment to avoid what these increases imply in the monthly instalment of their mortgage loans.
Some analyses ensure that the early repayment of the mortgage has increased by figures close to 50% compared to 2022. However, what savings can it bring?