Inspection Trips for Property in Spain (Atlas International)

sandy2_2

I suggest that anyone considering buying in Spain totally avoid Palmera Properties and Aifos.
A lot of new build and off plan developers are currently dropping their prices, but if you buy off plan you never know how long you will have that lovely view, so better advice is to buy resale. Generally resale also comes fully furnished (the Spanish like to leave behind their old stuff and buy new for their next property), also new properties tend not to come with installed kitchens or light fittings.
It's Spain, we do things differently here!!!

itsakidsworld

Inspection trips are difficult for everyone really. The buyer is looking at what they consider to be saving money by having the agent pay for a cheap look around, whilst the agent is trying to drum up business by offering these cheap trips and so they want to recover the outlay. No one wins as it becomes a hard sell situation and the buyers start to feel uneasy.

Investing in Spain can be good AND profitable if you follow the simple steps as you would if buying in the UK- do your research! If you want instant profit forget it, those days have long gone. If you want a lovely holiday home for a long term investment then yes, it is very possible.

For me, Spain now is a bubble which has already burst, however this can be a good thing for the buyer if you know where to look. Re-sales as reported are a very good option and these can even be a re-sale from a new development where the original buyer regrets what they have done and so are looking to sell and recover what they can. Harsh I know but true.

There is a book called "you & the law in Spain" by David Seal and it is a must buy for anyone who wishes to invest in Spain. It covers everything including the tax you have to pay once you own the property( something the agents fail to tell you about!)

I have invested in Spain for many years and had both success and failure which hurts. However I love the country and all it has to offer, it has brought so much enjoyment to myself and my family and has made me a better person for having to learn and understand a totally different culture including learning the language( a must for anyone).

Homework is the key to making the right choice, so please do lots of it. Don't be put off by the negatives if Spain is you choice. Keep your feet on the ground and learn the law first.

The very best of luck.

LesD

siamese0109 wrote: »

:rotfl: :rotfl: Yes his profits will have because the market is saturated as someone else mentioned!

It's a good time for buyers though because many people are willing to drop prices to get a sale. A lot of them fell for the agents line that a mortgage wouldn't matter because they could rent all year round. The Germans are selling up because their government have hit them with a tax on second homes and so, overall, there are some good bargains to be had. I agree you should go over in person, choose your area and then check the local papers and the se vende signs - there are plenty around!

Good luck - it was the best purchase we ever made but then we paid cash and bought it purely for ourselves and not to rent so we haven't been stung as some people have!

100% agreement!

There are no simple answers to this matter. We bought an off-plan holiday home 20 mins from the sea but with great views of the sierras. However, it was 18 months late, had many 'snags' to get sorted, and is on a massive development with much building work still ongoing.

I could go on about the 'problems' but the friendly neighbours and friends we've made are far better than in the UK. And (posting this as the rain falls again) the better weather goes without saying.

As for the agents, we had no problems with ours, and they have even acted as interpreters for us in resolving a recent insurance matter.

In the UK, the nanny state has resulted in most of us looking for someone else to solve our problems. In Spain, one gets on and solves them oneselves!

We did all our 'investigations' on our own, but eventually got the agent to pay for some accommodation. That allowed us to look in the Torrevieja area and make our own judgement that it was not for us. The plot sizes were too small. But that was OUR choice. Others would see that as a distinct advantage.

Also, our final choice would only be suitable for drivers - the milk and bread is 4-5 km away!

We have driven to Madrid which is a 4-5 hour drive away. But driving in Spain is a dream! We set the cruise control at 130 kph (real speed probably legal!) and almost went to sleep! There was so little traffic to worry about.

Off-plan or resale? Hmm, I really don't know. I think, now, the telling point will be price. When we bought off-plan, resales were MORE expensive. Times have changed and, as posted above, opportunities exist for 'negotiation' on price.

Final comment, amateurs (aren't we all???) shouldn't see a single property purchase as an 'investment'. Like any other investment vehicle, it requires a range of options to ensure the swings more than offset the roundabouts - or is it the other way round?

(ps..."You and the Law in Spain" is by David SEARL. A brilliant book.)

kwacka

narnia2000 wrote: »

Part of the deal involves Turkey handing back North Cyprus to Greece, therefore any greeks who were ousted from their land back in the 70s by Turks may have a claim on your new property in Northern Cyprus, the reason that prices are much cheaper than Southern Cyprus.

A couple of points, the world (except Turkey) states that the north of the island has been illegally occupied by Turkey since this day in 1974, and the UN has issued several resolutions that the land be returned to the legal government - the Republic of Cyprus (not Greece).

There has recently been a case in the High Court regarding purchase of property in the north. The couple (Mr & Mrs Oram, defended by Cherie Blair) involved face the compulsory sale of their UK property to compensate a Greek-Cypriot who's land their house was built on.

The judgement was that the land was illegally occupied, but the legislation could not be enforced due to a clause that was included in the treaty that enabled Cyprus to join the EU. This case has now been refered to the EU courts.

If you purchase land through the land registry in Nicosia there should be no problem - beware of any deeds issued since 1974.

budgetflyer

I lived there in 74 (I was 12) when it all kicked off.It was as far as I remember, the Greek National Guard who started it with an attempted coup. Thousands of Turkish Cypriots had to flee their homes in the South too. Villages were emptied.Ive often wondered what happened to their homes. Were they compensated ?

ttoli

budgetflyer wrote: »

I lived there in 74 (I was 12) when it all kicked off.It was as far as I remember, the Greek National Guard who started it with an attempted coup. Thousands of Turkish Cypriots had to flee their homes in the South too. Villages were emptied.Ive often wondered what happened to their homes. Were they compensated ?

The RoC authorities are now saying that displaced TC's can claim their land back, but in order to do this they must be resident there(ie not here in the North).

ttoli

narnia2000 wrote: »

Just a cautionary note on Turkey and Northern Cyprus: Property prices are rising well in Turkey, and there are great deals to be had, however this is being pushed up by the possibility of them becoming part of the EU. which has been set back 10 years. Part of the deal involves Turkey handing back North Cyprus to Greece, therefore any greeks who were ousted from their land back in the 70s by Turks may have a claim on your new property in Northern Cyprus, the reason that prices are much cheaper than Southern Cyprus.

Not quite true, after Turkeys legal intervention in '74 displaced GC's were given former TC land in the south and vice versa.
in order to claim back former land you must give up the new land given in compensation( bearing in mind the value of land in the south, many are reluctant to do), whilst a GC cannot lay claim to their old land they may be entitled to compensation based on the lands value in 1974( ie peanuts), this would be paid out by the property commision,unfortunatley the politicians have got involved and the RoC has sent dire warnings(and threats of ex-communication, Yes really!!) to any GC applying for compensation through the TRNC property commision because it would be seen as recognition of the TRNC.

Milky_Mocha

My folks have been and back and say they were completely put off by the language barrier. They say it is more of an issue than they anticipated and have now turned their attention towards America with a view to more of a holiday hideaway for them than an investment potential.