Buying property in Spain

virgin_moneysaver

we are considering buying a place in Spain and wonder if any of you wounderful moneysavers have had any encounters in this field and could give us some pointers etc. what to do & more impotantly what NOT to do

System

Hi virginmoneysaver! My partner's Spanish and her sister just happens to work for a Spanish owned Spanish based estate agent!! I also know Spain very well (hence the name Pablo_Money!!)

Which area/s of spain are you considering and i'll get some advice for you!  8)

brodev

I own a property in Spain. There are a couple of pointers. 1, whatever the price of the property, new or used, add 10% for taxes etc. 2, Be aware that there are lots of debts that go with a property and not an individual, therefore the property you buy has to be debt free or you will be liable. 3, Make sure that an "escitura" or title deeds are available because the house may not be legal. 4, As non-resident house sellers are liable to pay capital gains tax 5% of the purchase price has to be paid by YOU into a special bank account. If you don't you are liable for the amount. 6, If you buy, as most ex pats do, in an "urbanisasion" then there are annual fees to be paid to the said urb. These vary quite considerably. EG I know of 1 bedroom apartments paying £400 per annum Urb. fees and yet others paying £1400 for not a lot of different service. My experience is confined to the Costa del Sol. I hope this helps

brodev

The most important thing I left out is USE YOUR OWN SPANISH SOLICITER and he will take care of the technical things above

virgin_moneysaver

thanx pablo- any advice would be appreciated - we were thinking of C del Sol but would condider C Blanca

virgin_moneysaver

brodev- i understand a shared complex (urbanisation) is less stressful as a commitee oversees fees & maintenance etc - or have i been misguided

System

thanx pablo- any advice would be appreciated - we were thinking of C del Sol but would condider C Blanca

leave it with me virgin_moneysaver!!! im a bit snowed under at my charity job at the moment, but will get you some advice shortly!!! im also in seville in 10 days time for 2 weeks!!  8) 8)

agree with broadev 100% re: spanish solicitor!!  8)

my girlfriend's sister works for an Andalucian Estate Agent!! any particular areas of the Costa Del Sol?

ta!

brodev

I don't wish to ring any alarm bells as most urbanizacions are well run for the benefit of the community. The problem is that, in the past in some urbs. some of the owners have not paid their fees meaning that the others have had their's put up. It is not widespread but it is something to be aware of. Whereever you go always ask what the fees are. then you will build up an average for that area and you will see any anomolies. The law has been changed recently making it easier to take action against non-paying owners.
good side: the weather is lovely, the people are friendly and the cost of living is lower. 8) 8) 8) 8) 8) 8)

virgin_moneysaver

Hiya pablo - Almeira would be ideal but all depends on finances at time - the quieter the better

brodev

Have you considered Costa de la Luz? Prices are a lot cheaper there and it is quiet and growing. I know a few people who have moved there from the Costa del Sol. Jerez a/p is very near and Faro a/p in Portugal is not that far.