Buying property in Spain

LoadingFavourite

This topic contains 9 replies, has 9 voices, and was last updated by Profile photo of Anonymous Anonymous 9 years, 9 months ago.

  • Author
    Posts
  • #52643
    Profile photo of Anonymous
    Anonymous
    Participant

    Are all the horror storeys true? We are thinking of retiring to Spain. We would like to talk to someone who has already done so. Can anyone help? I am not very good on the computer and find the forums rather long. I don’t know if I should put my email address on here or not so someone can get in touch.? We are hoping to go to Spain Easter Weekend to have a look around.

    Andy & Jenny

  • #69293
    Profile photo of Anonymous
    Anonymous
    Participant

    Welcome to the forum, Yes there a lot of horror stories. But there far more happy onces too. Its just that ones dont get posted as they dont feel the need or happily sipping G&T.

    Please use the forum to prepare a check list of do & donts. Dont get sucked into s;ick marketing/sales talk or book inspection flights visting a property show.

    Spain is a wonderful Country to live and to enjoy it fully learn the language and immerse in the Culture. JUst dont go there for Sun, and cheep drinks.

  • #69295
    Profile photo of Anonymous
    Anonymous
    Participant

    Make sure you have a contingency plan for if you become elderly or inform as the health care system is basic and relies on the family unit. You don’t want to end up needing long term care, unable to speak the language and stuck with a house/apartment you can’t sell

    Buy an established property that already exists with all amenities. Find an area you like and look for private for sale signs. If on a development, ask others who live there if everything is OK, what the annual service charges and talk to the chairperson representing the tenants

  • #69297
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Andy & Jenny,

    It’s not a good idea to put your email address on any open forum.

    Good luck with your search. 🙂

  • #69709
    Profile photo of Anonymous
    Anonymous
    Participant

    Hello Andy & Jenny,

    Please under no circumstances buy any property in Spain “off-plan”. First of all learn the language, rent somewhere so you get a
    feel of the area and then decide whether this is the place for you.

    Property in Spain is overpriced at the moment and there will be bargains in the future.

    All the best whatever you do.

    Lizi

  • #69727
    Profile photo of Inez
    Inez
    Participant

    Hi there – yes the stories are true but this should not detract from you buying the property you want. Come over under your own steam, drive around look at each area with an open mind and then if you decide you want to buy, take your time, set your budget and ensure any property you are interested in has all its documentation in place.

    Place a reservation fee with your lawyer and your lawyer can submit a letter to the agents or sellers lawyer stating you have placed this deposit. This will take the property off the market for a set period of time until you find out everything is well and you cam proceed.

    Good luck

  • #69745
    Profile photo of Anonymous
    Anonymous
    Participant

    I got a tip to pick up a book that is really useful.

    It’s by a Chap called Davil Searl and it’s called “You and your property in Spain; your essential guide to property ownership and rental”

    It’s easy to read and straight forward.

    Word of warning though. It was published in 2005 so is a little out of date. The first paragraph of the book actually reads:

    “You’re right. You should have bought a holiday home or retirement residence in Spain 2 years ago. Depending on the area you would have seen a 30% rise in the value of your property, and even more in some areas.

    Do not despair. Even though the market has slowed today, experts predict that prices of Spanish property will continue to rise for the immediate future, and that they certainly will not drop”

    Ohhhh, what a difference 18 months make Mr Searl 😆 When I stopped laughing, (sorry, I know it’s not funny but you have to admit….) I read on and there is a wealth of good, basic common sense and advice throughout the book. It’s becoming my bible.

  • #69746
    Profile photo of Paul
    Paul
    Participant

    Andy and Jenny, there will be many people who have moved happily to Spain, and also many who’s move unhappy due to a lot of unregulated corruption in Spain’s property business.

    Do not trust the larger ‘in your face advertising’ estate agents who will charge you up to 30% more than the property is worth, don’t trust their recommended lawyers, and don’t part with any deposit unless you have a ‘cooling off’ period of at least a week, preferably 2 weeks to consider things with a full refund due if requested.

    Don’t get involved with stage payments on new build, make sure a site has planning permission etc.

    Buy from a smaller agent if possible or privately, it’s a ‘buyers’ market.

    Check who the rogues are on previous pages here, like Awful Estates, who promise much and deliver little.

  • #69750
    Profile photo of Anonymous
    Anonymous
    Participant

    Hola Knock-on – I think you will find that David Searl’s book is regularly updated.

    I recently bought the 2007 version and it is bang up to date.!!

  • #69781
    Profile photo of Anonymous
    Anonymous
    Participant

    @OliverB wrote:

    Hola Knock-on – I think you will find that David Searl’s book is regularly updated.

    I recently bought the 2007 version and it is bang up to date.!!

    Very interesting. I will get on to Amazon and give them a kick up the proverbial.

    Thanks

You must be logged in to reply to this topic.