If you're considering buying a Costa del Sol property or home, you may have heard from anyone who has eliminated before that the process is pretty complex. And while, yes, there are some hoops you will need to jump through in order to complete a successful purchase, if you take factors slow and use plenty of extreme caution, buying a property in the Costa del Sol can be a relatively pain-free process. Simply click here to find out more about Reserva del Higueron.
The Process: Before the Purchase
The first thing you have to do when starting to shop for Costa del Sol property can be... continue with extreme caution. There are a lot of little hidden pitfalls in the Spanish real estate system that can get you in trouble-- leaving you liable for mortgages or taxes which aren't your personal, or leaving you having a property that you don't actually own. Keep in mind that the Spanish legal system is supported years ahead of time, having a backlog of thirty-five thousand instances sitting waiting for the Romance language Supreme Court. So if you enter into ownership disputes or other legal troubles, you may just find that your battle outlives you.
Now that that's out of the way, we can get onto what you can do to prevent all that ugliness.
1 . Find an Estate Agent. If you're not careful, this is often the very easiest component of your search for Costa del Sol real estate. There are more estate agents in Costa del Sol than regular residents, it seems... everywhere you turn you find a real estate office. So acquiring one is easy. But be sure to do your homework, and pick a trustworthy company that continues its client's best interests in mind. Which is rarer than you might think.
Also, be aware that, in Spain, the size of a business does not necessarily speak for its quality. Some of the worst estate agencies in the country can also be some of the largest.
2 . Find a Lawyer/Solicitor. A few estate agents say they offer free legal advice to their clients. And while this may seem seductive, the fact remains... you actually need a lawyer. Really. Because estate agents, even though they may be well-versed in the legislation, are certainly not legally responsible for what they tell you-- if they make a mistake, there are plenty of yourself in trouble with nobody at fault.
Acquiring an English-speaking lawyer in the Costa del Sol is pretty easy. If you do a quick search online, there are several out there with websites and plenty of information on their solutions. Another way to find a good property or home lawyer is to look at Costa del Sol expat message boards and discussion boards. Others who have already been through the process can generally be a big help in suggesting a good lawyer or solicitor.
Yes, getting a lawyer is an extra fee which you may think that you can do without. But most Costa del Sol lawyers will inform you in advance of their fees, which generally run about 1% of the property's purchase price, plus VAT. And that extra 1% can make the difference between a successful purchase and ending up with nothing. Contracting a Costa del Sol property or home lawyer really just isn't optional-- that is a necessity.
3 or more. Evaluate the Property or home. When you have found a property that you're interested in making an offer on, it comes time to do an in-depth evaluation of the property and it is history. This is how that lawyer you caught really comes in handy.
Be sure that your lawyer checks the home register for any property or home you're interested in purchasing. This register will show immediately whether or not that property is really owned by the person doing the marketing, and regardless of whether any liens, home loans, taxes, etc . are owed upon it. This registry should be checked twice-- once before making and offer, and again just before the purchase is completed. Because it is legal in Spain to get sellers to take out a mortgage on a property which is under negotiation for purchase-- and after the purchase is total, you will find yourself liable for paying any sneaky fresh mortgages. For more info check out Real Estate.
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