Holidays – Buying a Property in Spain

Every year, thousands of Britons choose to head abroad, with many flocking to sun-kissed destinations in order to catch a bit of sun and relax.

Many have been tempted by the areas where they’ve taken their holidays, so much so that they decide to relocate to their favourite destination.

If you’re looking to buy a property in Spain, research is essential in order to ensure that the property is able to be built and that there are no hidden catches, which could potentially leave you out of pocket.

There are now a wide range of companies, offering Spanish property tips for a range of different sized properties – from hillside villas to apartments – all over the country and to suit all tastes.

Once you’ve decided on the property of your choice it’s advisable to check a few things before rushing into any deal.
Obtain details of the property from the Property Registry (Registro de la Propiedad) to find out if it belongs to the seller, is free of debt and matches the descriptions given on the property details.
Ensure that a pre-agreement contract is in place until the deed of purchase is available. This usually confirms interest in buying a property and deposits that need to be paid to secure the property.
Ensure that you have the relevant documentation needed for the mortgage. These include evidence of assets (bank statements, work records and tax details) – ensure you speak to your bank to find out which documents are required.
If you have any doubts about the structure of the property or loans, it can be worth hiring an appraiser (which can usually be done through the bank) in order to ensure everything is secure before you seal the deal.
After signing the contract after certification from a notary, it’s essential to sort out the tax details for your property, and ensure that it’s registered with the town’s council; your estate agent or property buyer can usually offer help you sort out these details.

Buying properties abroad can be lengthy and expensive. Indeed, there has been no shortage of buyers’ horror stories, from land disputes to bogus agents. Many companies will offer a Spanish property buyers guide, which can be a useful read for those who are thinking of purchasing properties.

By putting time into your research and ensuring that all credentials are met, you can be successful in securing your dream property abroad, which will ultimately lead to many more happy holidays for you and your family.

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