BUYERS

1. How do I search for a property?

You can either search for a Spanish property using the quick search on the home page, or you can search SpanishHomeOwners database. To do this you click on the property search where you can choose the criteria under which you wish to search. The homes are reduced in price because they are directly for sale by owner and have no estate agent fees.

2. How do I arrange a viewing?

Once you have found a property you are interested in click on the Contact section at the bottom of the page. In this section you can request a viewing or ask a question. The SpanishHomeOwners messaging system will then send your message directly to the seller.

3. Do I need professional advice?

Definitely! Always use qualified professionals to protect your interests.

Buying a Spanish property is relatively simple and ‘chains’ are virtually unheard of. The first step is to engage a reputable ‘Gestoria’ with English speaking staff who will guide you through the whole buying process. Your Gestoria will conduct a land registry search to check that the seller owns the property and that there are no ongoing mortgages or encumbrances which you may be liable for. They will then arrange the property transfer and organize a Lawyer and Notary.

Your local SpanishHomeOwners agent will be pleased to recommend a Gestoria in your area and can also give advice on local banks etc.

Your Gestoria will also provide you with details of the additional costs and taxes that you will need to pay. The total additional costs, taxes and fees normally amount to approximately 10% of the purchase price, slightly more if you are taking out a Spanish Mortgage.

4. How do I apply for a Mortgage?

Its as straightforward as in the UK.  You will need to supply the bank with a number of documents (originals must be shown and then the bank will copy them).

• passport, driving licence
• If employed:  three months’ payslips, latest P60s
• If self-employed:last three years audited accounts, tax returns and accountant’s reference

Spanish banks and lenders normally lend a maximum of 70% of the purchase price to non- residents. There is normally an higher ‘set up’ charge but lower interest rates on Spanish mortgages. You should seek advice from professional mortgage brokers.

We recommend that you start the mortgage process and obtain a “mortgage offer in principle” prior to searching for your property to avoid wasted time looking for a property that you cannot afford.

5. Make an offer.

If possible make your offer in writing, subject to contract.  Include not just the price you want to pay, but the amount of deposit you will pay and when you will pay it.  When you would like to complete and what you understand is included in the price.

IMPORTANT NOTE:

All of the information contained in the SpanishHomeOwners guide is for general reading only.  We always recommend that you consult a professional.