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Points You Need To Know
There can be numerous
pitfalls and traps for the unwary, when purchasing a property
in Spain. Here are some guidelines:
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Set your budget limit and stick to it. Bear in mind that you may need extra captial for modernisation and decoration.
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Visit the property and thoroughly inspect it before you make a decision.
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Check what amenities the property has such as electricity, water, gas. If these amenities are not laid on (as is the case with some outlying farmhouses) check when the local authorities plan to carry out the work.
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Have a builder or architect examine the structure of the building.
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Talk to your prospective neighbours about the area.
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Have your legal advisor check ownership of the property.
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Have your legal advisor check outstanding debts on the property before you sign anything
This is all covered when you use the Fast Track Service
What you should get when purchasing a second-hand home
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The vendor of a second-hand home should provide the following documentation.
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The title deeds; appertaining to the purchase property.
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Receipt of payment: of the real estate tax for the last year.
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Receipt of payment: of the tax on the increased value of Urban Land
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Certificate that any community charges (if applicable) have been paid up to date
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When it comes to signing the contract, this has to be before a notary, in the form of a public deed. This ensures everything is entered onto the public records.
This is all covered when you use the Fast Track Service
Insurances
Fire insurance is compulsory by law when taking out a mortgage. Comprehensive household insurance is a must to protect your home and contents. Life insurance can be taken out to guarantee payment of the loan in the case of your demise.
When you use The Spanish Dream.com Fast Track Service, much of this is done on your behalf, via professional English speaking lawyers, estate agents, and bank staff. we want you to enjoy the purchasing process - don't let it become a nightmare, just to try and save a few pounds here and there!
To find out where the expats advertise their property for sale or rent direct to UK visitors, Click Here
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