June 4, 2007 at 2:19 pm #52924
My Wife and I have already committed ourselves to an inspection trip to Murcia in July, booked it before finding this site. We may still be able to get out of it and go independently, working on that at the mo, after all we paid for the flights!! The company we are going with is the same one that has a locked thread a little further down in this forum.
The idea is to buy something at the entry level of the market for family/ friends holidays and to maybe get a little rental out of to help cover the bills. It is bought as at least a 5 year investment until our Son becomes old enough to leave school, then we intend to move out to Spain permanently. As you can see, we just want a little foothold on the ladder.
We don’t want to go over there with our “eyes wide shut” and have started researching the area (even found a distributor of the machines I work on in the UK!!). So far, we have managed to contact an independent solicitor (Gonzalo Ross) as recommended on this site who has given us details of the fees and services provided by them. Not sure about the developments that are available as their website doesn’t show many within our price range, although they assure us “they can get anything”! I am not naive enough to believe that statement. I have seen many developments on the ‘net, and a lot of them have their prices set much lower than this particular company, room for discounts at all I wonder?
Checking out some of the useful information on this site has amazed me. We were told that Spanish tax was only 11% and that mortgage payments could be offset against them. We also weren’t told that the purchase price you see isn’t actually the proper price as you have to pay 7% VAT on top of it!! Needless to say, that has cut the budget down a bit. Looking at some of the other fees that are listed on this site, certainly opens your eyes and gives me lots of questions to ask :).
Although we would like to buy something that is already built so it can be physically seen, we don’t actually want anywhere until about March/ April ’08 which will give us more preparation time. Obviously, we don’t want to buy on a complex that still looks like a building site at completion time, what is the best way around that?
I have already managed to email one of the forum members who has given me another link to check out, but if anyone has any experience with this company good, bad or indifferent, please pm me. Knowledge is power as they say 😀
June 4, 2007 at 2:23 pm #72716
Mark – hope you received the long email I sent you this a.m. As far as the agents you mention, as I said,
Don’t think twice – think three times ❗
June 4, 2007 at 3:04 pm #72720
Yes I did thanks Suzanne, and yes I am :).
June 4, 2007 at 4:43 pm #72728
You can dramatically cut the risks of purchasing by buying something already built and using an independent lawyer. Common sense really. Buy a resale and you will also avoid paying hidden commissions that can be as high as 16% on off-plan properties.
APOLOGIES: I managed to post this in the wrong thread.
June 4, 2007 at 4:51 pm #72732
Marksfish, avoid that company at all cost 👿 You have made a good start by finding this site 🙂
June 4, 2007 at 6:49 pm #72742
If you buy via this method you will pay way over the odds.
If you go on an inspection trip (with any agent) you can expect some high pressure sales tactics….it may not be a very enjoyable experience.
It is a well know fact that supply far outstrips demand in Spain at the moment.
Why not book yourself a trip as a holiday and see which areas of Spain you like….take your time and maybe buy as the buyers market really starts to kick in.
There will be some great bargains to be had in a few years time.
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