How do I arrange a viewing visit...?
Simply contact us for a viewing visit form or e mail us at [email protected]
What will a visit cost me ...?
We normally offer a four day viewing package.
We will happily arrange other duration viewing packages to suit
your individual requirements.
The viewing packages differ depending on which area you are interested
in. Please contact us for further details.
:: back to top ::
A typical viewing visit...?
You will be met at the airport by one of our representatives,
who will take you to your accommodation. Depending on the time
of arrival, it is up to you how soon you start viewing properties.
We offer a personal service without any pressure selling, the
properties really do sell themselves. We always try to let you
view on your own. This allows you to see only the range of properties
that you are interested in. The amount of time you spend viewing
is entirely up to you.
It normally takes two to three days to view a full range of properties
and to be shown the area, should you decide to purchase, a further
day is needed to arrange bank accounts meet your solicitor and
sign a contract with the builder or estate agent.
At the end of your stay you will be picked up at a pre-arranged
time and returned to the airport in time for your flight home.
:: back to top ::
Can non residents buy property in Spain...?
Non residents have been buying property in Spain for at least
the last 20 years, Spain is part of the EEC and they actively
encourage people to purchase property for holiday homes or to
live there, as with the tourist industry, it brings a large amount
of money and work into the country. Literally hundreds of non
Spanish people buy property in Spain every week. The low cost
of living and the pleasant climate being the main reason, the
relatively low cost of property pricing being another. Buying
property in Spain is just as easy as in the UK once you adapt
to the no rush way of doing things.
:: back to top ::
What if I decide to buy...?
If you decide on your visit to purchase a property, you will
be introduced to your solicitor who will explain the buying process
and what his charges will be.
You will also need to open a bank account We recommend using
a bank that has Internet or phone banking, as standing orders
will need to be set up for water, electricity, rates and community
charges, using the Internet makes it easy to keep track of your
account from home.
You will have to sign a contract with the builder or estate agent
of your new property. At the time of signing you will have to
pay a non-refundable deposit and agree at what dates the builder,
estate agent will require further funds from yourself.
On a new property this is a good time to make any changes you
require such as different tiles, additional sockets, outside lights
etc. The normal electricity supply is 3.8kw this needs to be upgraded
to 5.5kw if you intend to install air conditioning when the property
is built, or at a later date, again you should be able to organise
this when you sign the contracts. You also need to keep your upgrade
certificate as this is required by the air conditioning installer.
You will be expected to visit a Notary during the buying process,
you will always be taken to the Notaries by the solicitor or one
of his/ her assistants.
The Notary function is to oversee all legal proceedings. You
will always see a Notary when, exchanging contracts for the purchase
of your property, to register wills or give power of attorney
to your solicitor to allow him to purchase a property on your
behalf.
It is worth remembering you will need a number of passport sized
photographs for various documents. N.B. some Notary’s insist
that men wear trousers not shorts when going before them, just
a small point but could save having to rush out and buy some trousers!
Del Numero de Identificacion de Extranjeros, (NIE) numbers are
required, theses are a legal requirement, they are your non-resident
numbers, again your solicitor will organise these for you. Passport
photographs are required.
:: back to top ::
How can I finance a property...?
There are a number of ways to finance the buying of a Spanish
property. Spanish mortgages are as easy to arrange as ours and
the interest rate is lower at present, obviously the exchange
rate fluctuations plus bank transfer charges may negate any savings.
It is worth noting Spanish banks in general will only lend money
on properties which are already built, therefore if you intend
to buy a property which has not being built when you sign the
contract (this is quite common as demand for new properties can
mean a build completion time of up to a year on the more popular
sites) you must be able to find by other means up to 50% of the
agreed price within 4 to 6 weeks of signing the contract depending
on the agreement you reach with the builder.
Once the property has been built you can transfer to a Spanish
mortgage if required. Again as a general rule they tend to lend
up to 70% of the property value and over a 10 to 15 year period.
Should you have sufficient equity in your own property, i.e.
the difference between your mortgage and the current value of
your property, most banks and building societies will advance
up to 90% of your properties current value, which can be used
to fund or part fund a property. However you intend to fund the
purchase we strongly recommend you take independent financial
advice.
:: back to top ::
What will buying a property cost me...?
Typically you should allow 10% of the property cost to cover
all the legal expenses, this will normally cover all solicitors
fees, property VAT (currently 7% for new and resale properties)
and the connection of services. This figure does not cover furniture,
cooker, washing machines etc. that may or may not be included
in the property purchase price depending on which property you
buy.
Additional costs...?
It is advisable to make a Spanish will, the importance of this
will be explained by your solicitor also see the The Guide for
further info. You may also want to give him power of attorney
if you can not be present yourself for the exchanging of contracts.
The costs of providing these services vary depending on the solicitor.
Once you own a property in Spain you will need a fiscal representative
again your solicitor will normally act on your behalf.
A small amount of money will be taken from your bank account
without your permission, this is normal to cover a non-resident
fee, typically £12 per named person per year on your account.
:: back to top ::
Is it expensive to live there..?
The cost of living may be as much as 30% less than the U.K. Running
a property could cost as little as £450 a year, this obviously
depends on how much electricity, water etc is used. Electricity
and water, which are both, metered, are billed every two months
for electricity and every three months for the water. Electricity
typically costs between £25/35 every two months depending
on usage (obviously if you have air conditioning fitted and you
use it a lot the cost will be higher) air conditioning costs from
£800 upwards to have installed, water about £12 every
three months, again depending on usage, all costs based on a two
bed-roomed apartment.
With most types of property you will have to pay a community
charge to cover items like the cleaning of communal pool, care
of gardens etc. The amount you have to pay depends on the number
of properties within the community and the services that the community
jointly agrees are required this could cost around £12/15
per month in a larger community.
Property rates could be as little as £80 a year based on
an apartment with two bedrooms.
Most places do not have mains gas, however bottled gas is readily
available, at £6 a bottle, you will need a certificate proving
your property has been certified as suitable for the use of gas
appliances before you can purchase gas bottles, however your builder
should supply you with this.
As the rest of Europe car prices are lower than at home. Car
tax and insurance are also noticeably cheaper. Petrol is approximately
70p a ltr, diesel is less expensive.
With the abundance of fresh food available, buying food and eating
out is a real eye opener, once you know were to eat, a meal for
two with a bottle of wine can cost as little as £5.
Spain has recently introduced a wealth tax, which is based on
the value of your property, your solicitor, as your fiscal representative
will look after this on your behalf. You may receive an official
looking letter full of bar codes, these are required by your fiscal
representative for your tax returns.
:: back to top ::
When your property is ready
As the time approaches for you to exchange contracts we will
keep you informed of the building progress and advise you when
your property is ready for inspection.
Do not book your flights until you have been advised by us that
your property is ready for occupation, we will arrange accommodation*
for you and meet you from the airport if required. We will assist
you through the signing and moving in process. *Accommodation
costs will be for your own account, however we will always endeavour
to minimise the length of your stay prior to moving in to your
new property. N.B. You may want to consider hiring a car for the
moving in phase, as it is useful to have your own transport for
the many visits to the supermarkets etc.
Once you have moved in to your property, you may find with a
new property that you are using the builder's electricity and
water until the development is completed. The builder may charge
you for this it really seems to depend on the builder and how
long you are using his services. It is useful if you can leave
a key with someone if possible, as the electricity company will
need access to your property to connect you to the normal electricity
supply.
Don't forget to collect your water & electric supply contracts
from your builder for new properties, you should also have a Cedula
De Habitabilidad certificate, again you should get this from the
builder, you can not sell your property without this so make sure
you look after it!. (the solicitor will look after all of the
above) Once the rate for the property has been set this will already
be in place for a resale, you will receive a letter from the Suma
(local rates office) you or your legal representative will have
to collect the letter containing the rateable value of your property
as you need to sign for it, you also need your passport, yet again
your fiscal representative or your solicitor (normally the same
person) will look after this for you.
We recommend you don't ignore any official looking letters you
receive, always check with your solicitor as unless you read Spanish
the consequences could be dire!.
:: back to top ::