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Advice for House Purchase Process

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Advice for House Purchase Process

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Old Jan 5th 2015 | 6:48 am
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Default 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
 
Old Jan 5th 2015 | 7:23 am
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Default 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.
 
Old Jan 5th 2015 | 7:37 am
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Default Re: Advice for House Purchase Process

Originally Posted by bailey1975
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
If you're not familiar with the buying process and even if you are, never buy without using a solicitor. There are some people on this forum who didn't use one, but it's money well spent. I actually liked this part of an article from Peter Esders.

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.
 
Old Jan 5th 2015 | 8:12 am
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Default Re: Advice for House Purchase Process

Originally Posted by jonboy
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.
Abogados are only needed if there are obvious legal problems at issue.

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.
 
Old Jan 5th 2015 | 5:39 pm
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Default 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?
 
Old Jan 5th 2015 | 7:14 pm
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Default 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?
 
Old Jan 5th 2015 | 9:38 pm
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Default 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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