Preparing to Buy Spanish Property
This guide will quickly run through the steps you need to take in order to prepare before and during your hunt for property on the Costa del Sol.
Before coming to Spain
Use a good agent a good agent’s services are invaluable for helping you find the right property and negotiating a good deal. The Costa del Sol is a stretch of coastline that is over 218 km long, with a huge range of areas that present many interesting options for budget and style. The coast is also an international property market with vendors and purchasers from many different countries. Often the best deals are only available through the network of properties on an agent’s database: their skills, experience and contacts will also be extremely beneficial in helping buy and move in.
- Contact a Spanish Lawyer who speaks your language, if you do not have a lawyer we will be able to supply you with the contact information for our recommended solicitor. (read article: The Importance of Using a Spanish Lawyer)
- Talk to a financial adviser if you are planning on moving to Spain to either relocate or retire. Our team will be able to put you in touch with a recommended specialist.
- If you think that you require finance (read article: The Mortgage Guide ) then contact our offices and we will be able to put you in touch with our mortgage broker who will give you a good idea of what you can achieve.
- Ensure that your personal finances are in order so that you have the liquidity or access to your money should you need it in a hurry to place a deposit.
- Contact a company that specialises in money transfers (read article: Buying Euros to Pay for Your Spanish Property).
While you are looking at property in Spain
- Apply for your NIE number. This is your tax reference number that is required before you can become an owner by signing a title deed. Application is easy, and it only takes a few weeks to be issued. (read article: Applying for Your NIE Number)
- Ensure that you have adequate funds available in order to place a reservation on a property when you find something you like. Often a 6,000 € reservation on your credit card(s) will be sufficient to reserve a property, while your lawyer arranges all the paperwork for the rest of the deposits. Quite often people come to the Costa del Sol and find a property that matches their criteria rather more quickly than they expected. For this reason it is a good idea to have funds available to put down a deposit and not miss out on an opportunity.
- Open a Spanish bank account to facilitate payment of fees for the property. Our team can recommend you a bank and introduce you to the manager.
