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Spanish Property Questions and Answers |
Here you will find the most frequently asked Spanish property questions (and answers)…
- Would I find the property cheaper if I went direct to the developer?
No, we work very closely with the developers in Spain. They usually do very little to market their properties (there are a few exceptions) and they sell the properties at exactly the same price whether they use a UK agent or not. You will see evidence of this when we are in Spain we all use the same availability sheet and price list.
- I don’t want any pressure sales, can I make a verbal reservation with out committing myself to purchase?
Yes, most companies will allow you between 24 hours to 5 days to think about the purchase. We want you have time to consider the purchase when you get home before transferring the 3,000€ reservation fee
- I am nervous about buying a property in Spain, will your company be there to help me though out the buying process?
Yes, you will have a direct line to our After Sales Manager who will help you though the whole process. Any time you have a question, just telephone or send an email and we will be able to help you
- Do I need an NIE number?
Yes - In general, you need an NIE number for any major purchase in Spain, you will need your NIE number before completion of the purchase of a property if you require a mortgage or after completion if you don’t need a mortgage. We will introduce you to an independant solicitor fm the region who will assist you with this.
- How do I open a Spanish Bank account?
We can accompany you to our local bank, they speak very good English and are very friendly. You will need your passport and about 50 € to open an account. You will also be shown how to access your account by the internet and also discuss your mortgage requirements. We have been very pleased with the level of service that we have received from our Spanish banks. They are far superior to our UK bank.
- If I buy off plan, what happens if the developer goes out of business, before the property is completed?
We only collaborate with developers who issue a bank guarantee with every payment (after the reservation payment). This is a guarantee by the Bank, not the developer, that ensures that you will get your money back if the developer does not complete your property.
- What guarantee do I have if there is a problem with the property?
It is now a legal requirement in Spain for the builder to give you a 10 year builders guarantee, which will cover you for any reasonable problems.
- If I buy off plan, can I sell the purchase agreement before the property is completed?
Yes, with certain companies this is an option, but it has to be written into the purchase agreement to say that this is the case. This is a very good way of short term investment, without a large capital outlay, although it is always prudent to have a contingency plan, in case the property is not sold before completion.
- Who will look after my property when I am not in Spain?
We can reccomend a Property Management Service that we use for our own properties - we can't give a better reccomendation than that. They offer a full service from simple monthly maintenance checks to looking after your rental clients.
- I can only visit Spain at the weekend due to my work commitments, is this possible?
Yes, it is always better to have 3 working days, but it is also possible to have a 24 hour visit, if you are specific about your requirements. We work 7 days a week, but some developers are not available on a Sunday.
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