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Advice for House Purchase Process
Can someone please advise on the process for purchasing a villa in The Canary Islands? It may be the same all over Spain, I don't know.
The one I'd like to buy is a repossession. The estate agent are being unhelpful and actually giving inconsistent information. I am suspicious. They say that we need a 500 Euro deposit to secure the house, then either 10 days (or 28 days - depending on which e-mail I read) they say I need to pay the remainder of the deposit. The estate agent also says that the deposit is guaranteed to be refunded if there is some legal reason why the sale should not go ahead. I have been told little about the history of the house and the estate agent won't even tell me the property boundaries which may (or may not) encompass a large rainwater drainage pool. I don't want to commit any money until I know the process and I would like to know that if that pool is included with teh house, then I can back out of the purchase and get my deposit back. Can someone please explain the house purchasing process please, in particular when a buyer is committed, and also the law on deposits please? Thanks |
Re: Advice for House Purchase Process
Yes it is easier than you think. Get yourself a solicitor or a similar sort of animal known as an "Abogado" in Spain. Why would you want to listen to anything an estate agent has to say? Except as light entertainment.:D
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Re: Advice for House Purchase Process
Originally Posted by bailey1975
(Post 11522752)
Can someone please advise on the process for purchasing a villa in The Canary Islands? It may be the same all over Spain, I don't know.
The one I'd like to buy is a repossession. The estate agent are being unhelpful and actually giving inconsistent information. I am suspicious. They say that we need a 500 Euro deposit to secure the house, then either 10 days (or 28 days - depending on which e-mail I read) they say I need to pay the remainder of the deposit. The estate agent also says that the deposit is guaranteed to be refunded if there is some legal reason why the sale should not go ahead. I have been told little about the history of the house and the estate agent won't even tell me the property boundaries which may (or may not) encompass a large rainwater drainage pool. I don't want to commit any money until I know the process and I would like to know that if that pool is included with teh house, then I can back out of the purchase and get my deposit back. Can someone please explain the house purchasing process please, in particular when a buyer is committed, and also the law on deposits please? Thanks Do I need a lawyer when buying a property abroad? Asking this question of a lawyer always surprises me. However, my answer is equally surprising – no you don’t.There is no legal requirement to use a lawyer when buying in either Spain – or in the UK, for that matter. Statistics show that in the UK 97% of people would use a lawyer when buying a property, yet for some reason the same logic seems to go out of the window when people go abroad. No, you don’t need a lawyer, but how on earth people think that they can buy a property in a foreign country where they probably don’t know the legal system or even the language is beyond me. |
Re: Advice for House Purchase Process
Originally Posted by jonboy
(Post 11522800)
Yes it is easier than you think. Get yourself a solicitor or a similar sort of animal known as an "Abogado" in Spain. Why would you want to listen to anything an estate agent has to say? Except as light entertainment.:D
In most cases a good Gestor qualified in property transactions will probably be much better advised about local planning rules etc. and usually is well integrated with the local town hall planning department etc. There is no real equivalent to a "solicitor" in Spain. A good gestor is one of the most useful people you will ever find and can sort out a vast range of problems that the average foreigner might come across. The one we use has saved us thousands of Euros and avoided a great deal of hassle for us. |
Re: Advice for House Purchase Process
Thank you for the comments.
But can someone please advise on the process? What are these 10 day and 28 day deadlines that the Estate Agent mentioned? Can the deposit be refunded? Can the deadlines be extended? Am I committed once the reservation deposit is in? |
Re: Advice for House Purchase Process
Think of any deposit as non refundable.
Many who view properties who are not serious buyers. The EA possibly sees you as such? |
Re: Advice for House Purchase Process
Suggest you start here:
https://www.gov.uk/how-to-buy-property-in-spain and also buy a good quality uptodate book ie David Searl's The Law in Spain (which may shortly go out of print by the way as the publishers are closing down) and take independent experienced local legal advice. |
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