A Guide for Buying a Luxury Villa in Spain Responsibly
Spain is the best place to stay and enjoy the beauty of nature, mild climate, sandy beaches, and interesting traditions. Have you visited Moraira once and want to return here to stay forever? Then, you should find a real estate agent to buy the most option according to your wants and needs. Do you want to live in a house with your own pool, terrace, garden, and magnificent views of the azure sea? It looks like an ideal place for a family vacation as well as a place for permanent living. However, you shouldn’t hurry when buying a villa in Spain.
First, you need to learn everything about the rules and regulations that act in this area. Want to build a large villa in the most beautiful town of Spain or invest in villas for further sale? Keep on reading to discover how to get the best deal, including information on laws.
Steps You Should Make to Buy Property in Spain Safely
You’re recommended to find an independent lawyer who will present your interests, not the interests of the agent. The laws in Spain differ from those in other countries. That’s why you’re strongly advised to find a good specialist who is familiar with all the peculiarities of buying property in Spain. It’s the only way to be sure that your contract will be legal. Be careful with agents and lawyers who want to conclude a contract in a hurry saying that you need to sign an agreement as quickly as possible.
Don’t be tempted to cut the costs even if an agent offers some attractive deals. Before you start your cooperation with a promoter or agent, you need to make sure he/she can meet the main criteria.
First, you need to be 100% sure that the agent is competent in dealing with the property questions in Spain.
Secondly, ensure that your agent has the right to perform transactions on the international level.
Thirdly, check whether he or she is registered with the Law Society.
Take into account that buyers have the right to choose the notary service on their own. A public notary in Spain is obliged to prepare a contract and explain all the points to you before you place your signature on the legal document. A buyer of the property in Spain is normally given 3 days to see the chosen notary and discuss all the points of the escritura beforehand. You’re recommended to prepare a list of the questions you’d like to ask and clarify all the options that sound unclear.
Don’t Hesitate to Get Legal Aid If Necessary
Don’t start panicking if you face some problems when buying a property. Disputes don’t happen often but even if you face a challenging situation, request legal aid. You’ll get helpful advice on how to deal with the situation the best way. In some cases, you may need to find a paid lawyer service who is competent in a specific area. The best-qualified specialist will help you to deal with any legal disputes regarding compensation you may request from the bank or the agent. What to do if you can’t understand a single word in the documents? It isn’t a reason to worry. Just visit a website of the Spanish Ministry for Foreign Affairs and ask independent translators to make a translation of a certain document.
Don’t Rush into Getting a Mortgage – Compare Products Offered
The number of lending services grows daily. How to choose the best one and avoid scammers? It’s easy as ABC if you know what to pay attention to. The very first thing you should do is to check whether the lender is legal and can operate on the territory of Spain. Be careful when choosing a mortgage. Sometimes, they may offer attractive deals at a cheap price and then it will turn out that they have hidden costs. So, take your time and compare the features of mortgage products.
Pay special attention to the percentage rate, the possibility to make an early repayment, and the term during which you can use the mortgage. Sign an agreement only if you are sure that you’ve got a clear picture of how the mortgage works. What to do if you faced an emergency and can’t make the repayment on the due date? The best way to deal with this situation is to contact your bank immediately. The representative of the bank will tell about all available options and will recommend the one that will be the most effective way out for you now.
5 Things that You Must Have in Your Checklist before Buying Property
Buying property is a challenging task. So, you should have a responsible attitude towards buying a villa not to lose millions of hard-earned money. The best way not to forget anything important is to write a checklist. What to include in the list?
There are 5 things you need to check
If there is the land registry extract;
If all the information in the registry corresponds to the reality;
If the seller is registered as the property’s owner;
If there are any debts on the property you’re going to buy;
If there are violations of the land planning law.
Keep in mind that sometimes there may be building restrictions in the town plan. To ensure, there are no restrictions in the chosen area, don’t be lazy to visit the planning department. Before building a property here, how much tax you’ll pay.