Spanish Property Insight › Forums › Spanish Property Forums › Property Questions & Answers › need help !!!! buying a property
- This topic has 15 replies, 6 voices, and was last updated 7 years, 6 months ago by Chris Nation.
November 7, 2015 at 12:51 am #188038
well this is my first time here and i am looking for some good advice.
i am looking at buying a villa (never brought a property before) in rural Valencia (about 1 hour drive inland) and have been reading some shocking stories of how people have been stung and lost everything, i know this is a very slim number but i don’t want to get caught out.
the first property i really like the look of has around 2 acres of land and looks very remote it has mains water but powered by generator this is no problem to me as i can either install solar panels or just live like this.
The second place seems to be around other properties, and both mains are connected. its smaller than the first one but much newer.
both will need some work done on them to bring them up to scratch.
i am flying out next Tuesday to view these properties.
my questions are:
: what do i need to be careful of
:what sort of questions should i ask
:what dangers should i be looking out for
if there is any other advice you could give me i would be greatful.
thanks in advance
November 7, 2015 at 10:15 am #188042
The first thing is do you speak Spanish (or Valenciano)?
Secondly, have you found these properties yourself or are you being shown them by an agent(s)?
There are some fantastic properties in inland Valencia – we own one in Castellon province – for very little money if you are not worried about being a bit remote and you can get a great deal of satisfaction out of bringing an old property back to life. However, there are also all sorts of potential problems and you really need professional advice both in general as to what to look for and with regard to any particular property since the legalities are very often not what they ought to be with inland properties. As you are flying out on Tuesday it’s a bit late to seek full advice now but it would have been better to have done so before looking at property because it is very easy to get drawn in if you see something which really takes your fancy. (Keep your face straight if you do!). I would advise you to treat your first trip as just a finding out exercise, part of the learning curve. Do not take anything at face value until you have had it checked out. Do not sign anything or put any money down no matter what you are told until you have taken advice from an independent English speaking solicitor who deals with inland property. The market is very slow at the moment out here and there is no need to be rushed into anything. Take your time and you can take your pick.
November 7, 2015 at 2:16 pm #188044
Thanks for your quick response, i don’t speak any Spanish apart from very few basic words but plan to do some classes when i am out there to learn and also that will help me get to meet people.
I have found these properties though an estate agent who is English speaking and it is these who will be showing me the properties next week.
As for being inland and remote that is what appeals to me as if i want a place in Spain i want to be part of proper Spain (if you know what i mean) and if i want to go to seaside i can just drive there.
I know i have have left everything a little late (story of my life) but i only started looking last week and thought i would go look asap, i will definatley only use this first trip as a fact finder and if i do like the looks of any property i will seek legal advice from a solicitor out there.
John you say all sorts of potential problems with inland properties? is it not the same with properties both inland and by the coast. (this is where i may come unstuck )
what i like is remote where i can do work either myself or have builders in
November 9, 2015 at 9:56 am #188062
Spain has a system of registration of title similar to that in the UK. It works pretty well on the coast but inland for a start there is still a lot of land which is not registered which can be/very often is a can of worms. Secondly, the Land Registries, unlike in UK, take no responsibility for the accuracy of the description of the boundaries or of any plans there may be (unlikely). Sometimes adjoining owners may have the right to buy.
Another point to bear in mind is that unless the land on which the building stands is at least one hectare – and it is not protected (classed as forest or mountain land) – you probably will not be able to extend the building beyond the existing footprint.
Whereabouts are you looking?
November 9, 2015 at 1:04 pm #188070
The places that I’m going to look at are in the areas of Bugarra and Villar Del Arzobispo….
A friend of mine has told me not to buy anywhere in Valencia but I think this maybe harsh.
i have just started to look at Portugal this may seem a better option with less risk.
but I’m hoping the horror stories ain’t all true especially in the areas I’m looking
November 9, 2015 at 7:30 pm #188071
There should be no problem buying in Valencia provided you do it right – that applies anywhere.
November 10, 2015 at 7:56 pm #188107Chris NationParticipant
I’m looking to buy in VLC city centre. I’m competing with the locals, by and large, if ‘competing’ can be used to describe a market which the latest TINSA stats say has dipped 2.2% y-o-y and has an average sale period of 14 months.
Unlike Joe, I fixed myself up many months ago with a fluent English speaking independent lawyer so, sorry, I cannot put my business your way.
The question I have been casting around for and found no answer, the answer to which may help Joe and others as they approach the moment when the talk get round to turkey, is – what do you observe as the % between asking prices and agreed prices? Clearly, every case is unique but in a particular market, say inner city flats or rural wrecks, a pattern must emerge.
My hunch is that it took the Spanish a very long time to realise that the gravy train had been derailed and adjust prices accordingly and that, with outfits like Kyero and other selling agencies with a vested interest in stimulating interest bigging-up the very modest signs of recovery, prices will again be related to the good old days.
November 12, 2015 at 11:30 am #188142
I’m no expert on Valencia city centre but from what I have seen there are some real bargains to be had at the moment. Graham Hunt of Valencian Properties seems to know what he is talking about. Perhaps have a word with him. I would say in general that the feeling is that property prices are going to go up rather than down which helps to reinforce asking prices but there is still a fair amount of subjectivity involved in pricing in Spain and again, of course, it depends on the vendor’s circumstances. You’re not going to insult anyone with a low offer to the extent that they will not talk to you again.
Hope that helps
November 21, 2015 at 1:34 pm #188361Chris NationParticipant
thanks for your response. Indeed, Graham Hunt seems to be pretty much Mr Valencia for Anglophones. I have had a beer/coffee or three with him over the years. For anyone who can afford his services I would say that one would be pushed to find a better ‘wing-man’ to get the deal done.
My recollection of what he told me of his fees is that he charges 3% of purchase price. All other fees and charges [taxes, lawyer, registration etc] are additional. His services, apart from his own folio of properties [or finding one if not on his books], is in navigating the system from viewing to completion and beyond, if required. I’d say that in this case, one is setting cost off against time and convenience.
Sadly, I cannot afford Graham’s services. That does not mean to say I have not already asked him this question of list to sale price! As I have had no response, I take it that this is a trade secret in his line of business and that, flying solo, one must find out for oneself.
In fact, I’m not ‘flying solo’. I have found someone with fluent Spanish, a resident whose family is in the property biz on the C Blanca, to help me. I copy a couple of comments he made after his first brush with Valencia city’s property agents. Very enlightening…..
“I was surprised how few agents I came across on street corners as you do in my neck of the woods. Most of them are several floors up in a building with an anonymous plaque on the outside that you can only find via internet!! You’d think they didn’t want to sell anything.”
“The most surprising thing that I discovered (trade secret here!) is that when an ‘outside agent’ takes a client to them, the agreement is that the agent with the property charges the seller 2,5% and the bringer of the buyer charges him (in this case you!) another 2,5 % !!!. Very different from what I’m used to in the Alicante region”
Your last sentence, “You’re not going to insult anyone with a low offer to the extent that they will not talk to you again” could be read two ways, though perhaps, being a bit nervous about all this, I’ve invented #2
1] It means exactly what it says. That nobody [in the current market] will take terminal offence at any offer based on a savage hack at the asking price.
2] The [invisible, implied] addition of “ … are you?” is a warning not to.
November 10, 2015 at 7:03 pm #188106
well im here and going to be looking at these properties (even though I have seen a beautiful place in Portugal), John I see that you are a solicitor here in Spain, and as you have been honest with me and if you practice Spanish law then I see no reason why you shouldn’t send me your contact details as if I like any of these properties, I will definitely call you and see if you are interested in working with me to get everything done I need.
November 12, 2015 at 11:23 am #188141
I’ve only just started posting on here so I’m not quite sure of the rules. However, as you have asked for my e-mail here goes:
. If it’s not allowed no doubt it will be deleted. I will be happy to help if I can. Incidentally, I am just about finishing my website which will also be offering a property search service, particularly, for inland properties in Castellon province where there are plenty of the properties of the type you are looking for, which are or can be made legal, at low prices.
Best of luck
- This reply was modified 7 years, 6 months ago by Mark Stücklin. Reason: Email address removed
November 12, 2015 at 12:10 pm #188146Mark StücklinKeymaster
John, I removed your email address because it’s not good practise to publish private emails in public forums (spammers scape all forums for email address). It’s better to communicate via the private message system of this forum, so you are easy to reach without having to divulge your email address.
November 13, 2015 at 12:26 pm #188152
Thanks for that.
Sorry to be a nuisance but I’ve tried unsuccessfully to find out how to access the private message system. Could you help please.
Incidentally, the seminar went very well yesterday evening with some 50 people attending.
November 17, 2015 at 2:51 pm #188260
i private messaged you but not sure you received it as I’m new to this too and still trying to work it all out ..
November 19, 2015 at 3:01 am #188307The sheriffParticipant
Hi all just keep it in mind the coastal 10 mile strip around Spain,with the influence of the Northern Europeans is pretty normal buying a property. Inland totally third world do nothing without a solicitor who you have chosen and has nothing to do with the seller,agent or builder.
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