Get It Right When Buying Property In Spain

8 May 2023 | Blog

Being informed and avoiding costly mistakes is crucial during the exciting process of buying property in Spain. This article will provide step by step guidelines from searching for property to signing the agreement as to ensure your purchase is successful with no setbacks. Keep on reading to discover Tecnotramit’s key advice and how to avoid the most common mistakes when buying your house or flat.

1. Establish your needs and budget:

It is important to be clear what kind of property you are looking for before starting to search and how much you can spend on it. Establish your needs regarding size, location, number of rooms, etc. Furthermore, set a realistic budget that includes additional costs associated with buying property, such as taxes and legal fees.

2. Find a trustworthy professional:

Relying on an experienced property agent can be of great help during the entire purchase. Search for recommendations, read reviews, and chose an agent with good market knowledge of the area you wish to buy. A good agent will help you find properties that meet your needs and guide you through negotiations and legal paperwork.

3. Research exhaustively:

Before making a decision, research in depth both the property and area it is in. Check the property’s legal status, make sure it is free from pending charges and mortgages, and examine documents related to the homeowners’ association. Also research location concerning nearby amenities, transport, and any future developments that could affect property value.

4. Seek legal advice:

Hiring the services of a lawyer specialised in property to check all legal aspects of the transaction is highly recommended. A lawyer will help you understand agreements and verify everything is in order before signing. Moreover, guidance on payable taxes and fees will be provided, as well as rights and obligations as a buyer.

5. Negotiate wisely:

Negotiating price and conditions comes once you find the property you wish to buy. Don’t be afraid to put in a reasonable offer or ask for renovations if necessary. Remember: you are in a bargaining position and can get a better deal if you stand by your interests.