It's the million dollar question. Is it time to buy? Everyone, at some point, we have asked this question. Through the analysis of certain economic indicators, we can estimate whether we are really facing a healthy market open to operations and whether, on the contrary, it would be more convenient to wait until certain incidents are resolved. Certainly, the most propitious moment is not marked by external factors, but by one's personal situation. In this post, we detail the factors to know how to make a good decision when buying.
The process of buying a house in any country can be complicated and confusing. When you are purchasing a property abroad, it’s even more so. How long will it take? Who should be involved? What can you do to ensure that you buy safely?
There have been mistakes made in the past and there have been some high profile bad experiences. However, buying a house in Spain is straight forward if you take one step at a time with the right conveyancing experts.
Buying a house is no easy task, let aside completing the transaction in an unknown country. Here are some tips to help handle the situation correctly:
1. Expenses: You need to take into account unavoidable extra expenses when buying a house in Spain. These include the services of legal advisors, translators, taxes, possible mortgage expenses and, most importantly, the services of a notary. The notario is the person responsible for drawing up the deeds (escritura), the tax due (registro catastral) and the registration of the names of the new owners in the Spanish property register (registro de la propiedad). and tax register (registro catastral); he charges fees to the vendor and purchaser, according to a fee schedule set by the government.
2. Translators: Contact a local translation company and pay for your own translator.
3. Exchange rate: If you want to avoid having to check exchange rates daily, consider paying for the services of a professional exchange company that can get the best deal for you however you want to pay.
4. Legal advice: Take care and get legal advice before signing any documents. In the case the construction of the property has not been started at the moment you buy it, you will need to get proof of planning permission and plans of the property itself.
Checklist for those interested in buying a house in Spain
Buying a house in Spain can be tricky. These are some documents and information you should take into account when deciding to buy your Spanish Dream House.
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