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Buying a Mediterranean property with us is a straightforward process.
We hope the following list of FAQs will answer most of your questions about buying, but if there is anything else you’d like to know, just contact us:
To email us, click here
Or
Tel: (+353) (0) 1 611 4444
FAQs
Q: If I see a property I like; how do I buy?
A: First, make sure you contact us for our list of currently available properties. The homes shown on this website are representative properties and are not necessarily the particular properties for sale at any one time.
When you get our list, contact us again, and we will be happy to discuss your requirements with you. We will not contact you unless you ask us to.
Q: I’ve chosen an available property from your current list, how do I start the buying process?
A: This can vary from country to country, so contact us for details. However, for Spanish properties in the Almanzora, the process is simple. You sign a reservation form and pay a deposit of €3,000. This guarantees that you can secure the property at this price for 42 days. See below for details of further payments.
Q: Will I need a solicitor in the country in which I’m buying?
A: We strongly advise you to retain the services of a local solicitor to look after your interests. We can recommend good, English speaking legal firms in the area.
Q: Is there a written specification for the properties?
A: Each property has a clear specification. Within that, you can choose from a range of options. The Home Buyer Services Coordinator can help you with that, if you wish.
Q: What are the legal and stamp duty costs of buying a property in Spain?
A: Stamp duty, VAT at 7%, legal fees, notary fees, and the standard utilities connection fees for water, gas and electric, together will together add about 10% to the buying price of the property.
Q: After I pay the Reservation Deposit, what happens next?
A: The developer sends the contract, proof of title, etc to your solicitor. The Architect’s Project Plans are the basis of the contract, and include the details and specifications for your particular property. Once you are satisfied that all is in order, the contracts are exchanged, and you pay a Contract Deposit of 15% of the purchase price (plus VAT) less the €3,000.00 Reservation Deposit you have already paid.
Q: When is the next payment due?
A: After you choose your options and before the structural frame is completed, the developer will give you a Provisional Completion Date. A further stage payment of 25% plus VAT is due at this point.
Q: Are my payments secure? What if the developer goes bust?
A: Your payments are securely held in a bonded bank account, where they are guaranteed and insured by the Spanish government. They will be returned to you if the developer does not meet their obligations
Q: Is there any guarantee with my home?
A: Yes, your home is insured against structural defects for 10 years, and against minor defects for one year.
Q: How can I be confident that my property is built to a high standard?
A: These properties are built to a higher than usual standard of construction, specification and finish. Your guarantee is that the properties are inspected and certified during construction by Bureau Veritas, a internationally recognised independent quality control company.
Q: How is the closing handled?
A: When your home is completed, and all appropriate documentation furnished to the satisfaction of your solicitor, Home Buyer Services will will arrange a date for the closing of the sale. They will also arrange a hand-over inspection, following which you pay the balance of the price. The deed of purchase (the “escritura”) is then signed in the Notary’s Office in Spain. This deed is then registered at the Land Registry.
Q: What if I am unable to be present for the closing?
A: In that event, you must give a Power of Attorney to your solicitor to inspect and complete the sale on your behalf.
Q: Can I get help with getting the property ready for use?
A: We have a Property Set-Up Service that can organise house insurance, a bank account for local payments, and a host of other functions, so you can enjoy your new home with the least hassle and from the earliest possible moment.
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