Guidelines For Buyers

• Be aware that we are NOT estate agents and do not pretend to be. We act as a middleman to put you and the seller into contact
• Our services do NOT cost you anything at all, our fees are paid by the seller
• We can put you in touch with independant mortgage advisors, lawyers and surveyors if YOU wish us to.
  

These companies are completely independant of the seller and will work on YOUR behalf. You are welcome to use any company that you feel happy with, we will not attempt to influence your decision in any way

Buying a property in Spain can be a very stressful time, but it can also be a very exciting time....

Whether you are buying a property as an investment, or as a holiday home for you, your family and friends, or as your permanent residence for your new life in Spain, there are a few things that you need to be aware of:

• Legal fees, notary fees, bank charges, etc. will add around 10% to the agreed selling price of the property
• A home in Spain is probably the investment of a lifetime - find an independent lawyer to protect your interests
• The Spanish legal system is very different to those found in the UK and other Northern European countries. So it makes sense to place the legal side of buying a property in the hands of an independent lawyer.
• Contact an independent lawyer before you pay or sign anything. Talk to your lawyer before you commit yourself to anything as there are initial checks to do before any money is paid
• Shop around for the best deal for your currency transactions, the difference in fees can be enormous
• You need to have a bank account in Spain to buy a property. What many people won't tell you is that you are able to negotiate rates with most bank on currency transfers, and other transactions, that can save you thousands of Euros
• You need an NIE (foreigners identity number) to purchase a property in Spain. Consult a lawyer for the best way to apply for one
• It is usual for 10% of the purchase price to be paid upon signing a private contract. The balance is paid when you go before a notary to finalise the purchase. Your lawyer is probably the best person to draw up this contract, again their advice is invaluable

Mortgages

If you are serious about buying a property in Spain then you should start arranging your Spanish mortgage, if you need one, almost before you do anything else. If you leave it until the time that you have found your dream property it may be too late!

Our advice is to find out all you can with an independent mortgage broker who is not tied in to a developer or bank. They will be able to shop around to find the best deal for your personal circumstances

If you would like us to forward you a list of independent lawyers, mortgage brokers and currency dealers please ask.

Guidelines For Sellers

• Be aware that we are NOT estate agents and do not pretend to be. We act as a middleman to put you and the buyer into contact
• Our services cost you either 1% of the final selling price as a finders fee OR €100 upfront as a listing fee with NO further fees or commission due.
• Once listed your property will stay online until you tell us otherwise
• We can put you in touch with independant mortgage advisors, lawyers and surveyors if YOU wish us to. These companies are completely independant of the buyer and will work on YOUR behalf. You are welcome to use any company that you feel happy with, we will not attempt to influence your decision in any way
• Do not be bullied or cajoled into accepting less for your property than you are comfortable with.

A common tactic is to be offered a figure that you accept, then the prospective buyer comes back to you after a few days and says that they have found something else that will cost them a far lower price.

Their offer is then reduced with the threat being that if you don't accept then they will not continue with the purchase.

Often by this time you have already put the wheels in motion by contacting your lawyer, etc. so it will be inconvenient for you to stop the process, which is what the buyer is banking on.

The answer to this is ALWAYS to make sure that you have a signed agreement stating the agreed price, and a non-refundable deposit from the buyer, before you go any further.

If the buyer then tries to lower the price you can simply refuse as they are not sticking to the agreement signed. If they withdraw they lose their deposit.

Use a good lawyer and let them draw up the agreement and hold the deposit.