How does the Spanish Property Market Work?
All real estate agents in Spain work together though MLS systems, sharing all their listings on a couple of different property platforms. DAN Property in Spain are connected to all these database networks and platforms, therefore we can provide you with access to any of the properties for sale from any of the other agents. This means that by working with DAN property in Spain, you will have access to ALL the properties for sale on the COAST and INLAND! You do not need to contact numerous different agents for information. You can find out all you need to know about any property and visit any property you like through just one agency MLS member such as DAN property in Spain. By innocently contacting numerous agents you actually hinder your viewing experience as once contacted directly by yourself the other MLS agent may refuse an MLS viewing, which in turn prevents the organisation of a seamless viewing inspection throughout the day to numerous properties of your choice. So primarily decide on one reputable, trustworthy agent and stick with them for your viewing experience. If after a while you are not content then, by all means, move on to another but try not to go with numerous agents all at the same time it does not work in your favour.
Once DAN Property in Spain has found you your ideal property the most important initial step is to take the property off the market. To reserve and secure it you will need to place a holding deposit initially with your prefered lawyer, once the reservation deposit form is signed by the vendor this prevents anyone else buying and you losing it to a 3rd party. The normal amount is 3.000 to 6.000 Euros. A bank transfer or credit card payment can be made to secure the deal. Between 10 to 14 days after the reservation there will be a private purchase contract totalling 10% of the purchase price which will state the completion period whereby you will become the owner and be going to the Notary to sign the title deed in your name.
As a general rule of thumb, you should add between 10 and 15% to the purchase price to cover the buying costs. Included in this figure is the property transfer tax at 8 or 10%, plus legal fees (normally 1%), Notary fees and registry fees. If you need a mortgage the notary and registry fees are doubled.
It is imperative to use a good English speaking lawyer with offices in Spain. Preferably one with experience of the local area in which you are purchasing a property as all townhalls have different rules and bylaws that will apply to the property that you intend to purchase. They will make sure that the property you are buying meets all the necessary legal criteria. If you have friends or family that has a good lawyer in Spain ask them for the details, if not we have access to a good selection of reputable lawyer firms that will look after you.
DAN Property in Spain has several very experienced independent mortgage advisers that search out the best banks rates and deals for you and your requirements. We will be more than happy to put you in contact with any of them, or we can introduce you to local bank managers in the town where you intend to purchase.
We offer different foreign exchange companies that are at the top of their business and will get you more Euros for your pound. Why pay banks a ridiculous commission when a good currency broker will get you more money and closer to the interbank rate.
After Sale Services:
If you are looking to rent out your property and/or have a full maintenance and management service please ask us for details. We can assist you with, Rentals, Renovations, Snags, Furnishings…