Plenty of residents of the UK and Northern Europe are discovering that purchasing property abroad is an attainable and desirable goal. Since these properties have a good level of capital growth, coupled with low airfares and European interest rates, these Spanish properties are very attractive. Spain offers short air time, excellent sunshine and plenty of growth.

Although buying property in Spain has received a bad rap, you can get a great deal if you follow a few guidelines. Marbella based IMS can provide Spanish Mortgages as well as expert advice on the whole purchasing process.

Here is your basic buyers guide for purchasing real estate in Spain:

Arrange your finances first.Go and see an expert on Spanish Mortgages before committing to anything.

Take expert legal advice before you sign on any dotted lines.

Take care not to reach beyond your financial limits.

Be ready in case time deadlines are stretched.

Don’t trap your self into a contract until you have money.

Purchasing items in Spain is different than most other places.

Completely comprehend how taxes are incurred depending on the type of ownership status you select.

Never allow something to force you to do something to make you take action when you otherwise would not.

You should work with a lawyer that isn’t affiliated with your current sales agent. You should have an impartial representative to ensure that your best interests are always taken into consideration.

Enter into the situation with a list of questions that your attorney in Spain has answered for you before you buy anything. There have been many instances where international buyers have been unable to get the results they seek because they didn’t know what questions to ask or when to ask them.

Before you sign a contract, you need to think about the next few questions, and others that you may have.
Is the complete Spanish purchase registered legally?

The purchase sits on land that can be registered in what way, urbanized or rustic?

You should be wondering what complications can come from buying land that is rustic.

We bet you’re wondering what’s going to be covered, especially legal fees and taxes.

Are there any building or occupancy licenses in place?

Is there a 10year building warranty in place, if the building is less than ten years old?

Did you purchase this product directly or was it a cessation of contract? On the basis of the architecture of the purchase,what are the entailments?

Will there be anything that is in the process of declaration for this transaction?

Are you responsible for any additional costs such as, capital gains, inheritance, wealth or income taxes?

Do you need to pay any deposits? When in the process are refunds no longer possible?

What are the attorneys fees and additional legal expenses that will be incurred?

This entry was posted on Tuesday, April 14th, 2009 at 4:36 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.