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A Short Guide To Buying A Property In Spain

Apr 8, 2008
If you see a decent Spanish property for sale at a price tag that you simply cannot resist, your general reaction would be to drop everything and run with after it as fast as you can. Until you face the problems of knowing nothing about Spain or the rules and regulations of buying a property in Spain, for example registering your property with the Spanish land registry and applying for residency in Spain. These are just a few of the things that you will face when buying a property here.

There are many pitfalls to buying a Spanish property. Seeing a Spanish property for sale within your price range does not necessarily mean that the process is going to be easy. There are many factors to consider and you must be very well prepared before you sign on the dotted line. As you are buying a property in a foreign country then you will not be familiar with the procedures in this country, therefore, it is important to be prepared.

Beginning your search in this country is much more helpful to you then starting it in Spain. Looking for a Spanish property for sale now is not the first step to take. However, arguably, this is recommended so you can keep a close eye on the Spanish property market. It is not a bad idea to get to know the price ranges for different property types. Those looking to buy a property in Spain will need to expect a very changing market as property prices are beginning to creep in certain places.

Research the market from home first. Have a look at what your choice of property is going for in your desired area to get an idea of the average price. Then you will need to look at the various procedures behind buying a property in Spain, which will include paying for solicitor's fees, notary fees, property registry fees, stamp duty and real estate taxes. These will all need to be considered and included within your budget before you even consider buying.

When you do begin your research, you will notice that there are plenty of property agents in Spain - the real estate agents in Spain have gained a good reputation and have been renowned for the excellence in customer service. However, like all places, there will be people trying to con you so the only way to avoid this is to get some expert advice and find a real estate agent with a good record of accomplishment.

If you would like to consult a solicitor, you should ideally stick to an English-speaking solicitor or an independent solicitor who is not recommended by the agent. This way if you choose your own solicitor, you will have no problems in trusting them to handle all of your paperwork and there will be no language barrier. One key point is that you should always run all of your paperwork with your solicitor; get the all clear from him before you sign any documents.

One thing that will be essential when you do see a Spanish property for sale, is your viewing opportunity. Flying out to Spain is not as difficult as it may have been in the past. There are more airport terminals built in many parts of Spain, flight tickets are all at affordable prices and it is much simpler to book for a flight to Spain. Therefore, since the opportunity is there you should make time to spend a little time in Spain to see what it would be like to live there and arrange to view your chosen property before going ahead to buy it.

Another point to remember is that if you are looking to live in Spain, then it may be a good idea to have a base established in your homeland, so then you will have somewhere to stay when you do come back to visit. Some people may feel like they would want to come back to see friends and family, however, you will need to have stable place to come back to.

For those buying a property as an investment opportunity will need to be aware that although you will be gaining some income or cover for the mortgage payment, you will still be charged with all of the other expenses, such as your added fees.
About the Author
Having found her desired Spanish property for sale Anna Stenning is continuing to research this property market with the intentions of buying her own property soon.
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