6 Easy Steps to Buying in Spain

1 – Define your needs!
So, you’re ready to buy in Spain. This is where the fun really begins.
Whether or not you are familiar with the area, you need to get yourself over here and take advantage of one of our subsidised viewing trips. If you book the flights, we’ll accommodate you in an apartment through the rental department.
You need to be able to tell us why you’re buying here. Is it part of a wealth building strategy, a retirement home you’ll one day pass to your grandchildren or a luxury beach home where you can entertain clients and associates, family and friends.
Your viewings will be tailored to suit your needs. Perhaps you’ll already have consoled yourself that you can’t get it all in one property, but if you have clearly defined notions of what you want, we will get very close to that.
If we can’t see the target however, how can we hit it?

2 -Trust your estate agent!
People choose to buy from us, not because we are necessarily the best sales people in the world but because we live here, raise our families here and what we tell you about property in Spain, we passionately believe to be true.
Too many articles are written about “buying in Spain” by non professionals and the Internet is full of experts telling you why not to buy anywhere.
We’ve done it all before and you can trust us. Too many people who should have bought here didn’t because an expert advised them that it was better for them to invest in Budapest, Turkey or Kabul. Trust us, to give you the best possible advice.

3 – Begin the search!
Now that you know what you are looking for, we will source the right properties for you.
We have access to hundreds of resale properties, bank repossessions, property direct from the builders and indeed through our links with other agents you can buy pretty much any house for sale on the Costa Blanca directly from us in our La Zenia office. What we show online, is just a sample so please email if you have a specific request. We even sell properties sometimes which are not yet on the market! That´s how good we are at this business!!

4 – Get finance.
Should you need financing in Spain, we can talk to banks and brokers, get pre-approval for a loan for you so that once you see exactly what you want, you are ready to move on it. This pre-approval can be invaluable particularly to bargain hunters. Typically Caja Murcia and Sol Bank, our preferred lenders, will offer you 70% of the value of the property. By the end of 2010, these banks had sorted out their well documented financial problems and thankfully the banks are back in the business of lending.

5 – Securing the Property.
Once we’ve found you the perfect property, we draw up an agreement between buyer, sellers and ourselves so that the price is secured and both parties know that, all things going according to plan (eg survey, loan application etc) the property is sold and off the market.
Often buyers will speak to their lawyers at this stage to ensure that their deposit is protected in the unlikely event that something goes wrong. You sign the paperwork, pay the deposit and the hard work is done.

6 – Closing.
Your legal representatives will ensure you do not inherit a house with electricity bills, water or community fee owed. Again, online experts will tell you that you can do this yourself. Our advice is don’t skimp on the last few euros and pay a professional legal firm to ensure everything is ready. We get buyers and sellers together in the local Notary to complete. You hand over the balance of the money in front of the solicitor, seller, possibly banks and certainly the notary. In return you get the key to your (hopefully) dream home in Spain.

Property Ownership in Spain

Community Regulations
Having purchased a property in Spain, you will most likely have become a member of a community of co-owners with shared or common interests.
Communities exist for the majority of properties in Spain, even for clusters of detached villas where the communal pool or mailboxes are the only common interests. Under the Spanish Law of Horizontal Properties (Ley de Propiedad Horizontal), it states that any cluster of attached houses or building of apartments, will have a legal body to control and administer the management of the community.

Community Administrators
The community will be managed by an appointed administrator (required by Law) and the elected President. Their role will be to ensure the smooth running of the community and its shared elements such as maintenance of the swimming pool, upkeep of communal grounds, maintenance of any lifts and cleaning of common areas such as hallways and landings in apartment blocks.
In addition, they will ensure adherence to decisions made at Annual General Meetings over issues such as the colour of sun blinds, location and provision of satellite dishes and television aerials and any rules relating to swimming pools and communal grounds. You have a right to attend these meetings and vote on issues you consider important.
The other important aspect of the community administrators is to ensure all contributions are up to date. The amount you pay will be a percentage of the agreed community budget, based on the size of your property and the administrators do have the right to put a charge on your property, if you do not keep up to date with your payments.

Local Authorities
In most Spanish towns you will normally find two important buildings. One is the town church and the other is the town hall or Ayuntamiento. From time to time you will probably need to visit the town hall, particularly if you choose to live permanently in Spain. The town hall will deal with many local matters including building permissions, local taxes for your property and your registration as an inhabitant of the town on the Padron.

The Padron
Although you don’t need to register on the Padron, it does bring advantages to both you as a property owner and for the town in general. Inclusion on the Padron is necessary if you wish to purchase a car in Spain or sign on with the local health centre.
It will also give you the right to vote if you are resident.
And for the town itself, it will help them increase the amount of funding available from central government for the provision of services such as policing, schools. Funding is based on an estimate of the local population determined by the number of people registered on the Padron, more people equals more money equals better services.
Signing on the Padron is straightforward. You simply go to the town hall with your passport (or residents card), your property deeds (or temporary copia simple), your original NIE notification and an original utilities bill (normally electricity or water). The town hall staff who you will normally find very helpful, will then help you.

Payment Of Bills
Just like in England, you’ll have to pay your bills. The Direct Debit system in Spain is as good as in England and it is strongly recommended that you use it to pay all bills. All you will then need to do is ensure sufficient funds are available to meet the payments.
For most properties, you will receive an electricity bill (every two months) and a water bill (every three months). Telephone bills are paid monthly. Your community charge will normally be collected monthly from your account. Your Lawyer can assist with arranging Direct Debits for payment of any taxes and municipal payments related to the property.