Buying Property in Spain – Part 1

Buying Property in Spain – Part 1

Buying the right property is key, at

Costa Del Sol Property Group we pride ourselves

on customer service

It can be a lot of trouble to buy a property in Spain. The tabloid newspapers are filled with stories from foreigners who lost their savings money investing in overseas property. Each year thousands of foreigners choose to buy property in Spain and many of them are quite happy. They just don’t get any attention in the tabloids.

This Buyers Guide will give you some insight into buying property in Spain and it also has some wise words from our experts. Let’s get started with some tips, but for an in-depth Buyers Guide you need to register with Costa Del Sol Property Group.

Agents in Spain:

There are several types of agents in Spain. The ones you’re most likely to deal with are:

·        Traditional real estate agents; these agents will often charge owners a sales fee and will have your best interests at heart

·        Buyer’s Agent : The best of this kind of agent are able to find the right property for you and where then the commission is paid for by the seller or seller’s agent.

·        Professional Property Finders: Like Costa Del Sol Property Group tell a professional property finder what you want and they will find it for you. Some of them will charge you a set fee for this service depending on price. They may also work with agents they have made agreements with to create an opaque fee structure. Some professional property finders, such as the ones we recommend, take these payments from the agents meaning that none of the cost is passed on to you.

What to Look for in a Professional in an Agent in Spain

1.      Experience – ask the agent for testimonials from previous customers and for information about their previous work

2.      Coverage – only deal with agents that have the coverage and connections to do what you need

3.      Market Knowledge – ask the agent the difficult questions about living in Spain. Drop any agent that is unable to answer these questions. A good agent may even be able to offer you a better price on the property you were after.

4.      Language – find an agent that knows Spanish so you know you are dealing with someone who can handle any problems that may arise

5.      English – it’s best to hire an English speaking bilingual agent who can talk you through the purchasing process and tell you if anything goes wrong

6.      Avoid the Hype – when an agent is using high-pressure techniques it’s often because they are under pressure to sell the property or working on commission. You are going to be spending a lot of money to purchase the property so you need to get it right the first time.