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Buying a property in Mil Palmeras

Posted: Fri Sep 17, 2021 10:06am
3 replies159 views3 members subscribed
rogerstyles

Posts: 12

1 helpful points

Location: Mil Palmeras

Joined: 22 Aug 2021

This has probably been asked a 1000 times, but has anyone got any do's or dont's when buying a property here in Spain ?

Cheryl

Posted: Fri Sep 17, 2021 11:00am

Cheryl

Legendary helpful member

Posts: 2973

3533 helpful points

Location: Albatera

Joined: 8 Jun 2017

Posted: Fri Sep 17, 2021 11:00am

Above all, find your own abogado, never use the one recommended by the estate agent as they will be working for each other, not for you. I can personally recommend https://www.getlegalinspain.com/

If you think there may ever be a time when you will want to recoup some of your costs by renting the property out as a tourist let, it is a minefield and if the community won't allow it, that is the end of it.

Assuming it will be a holiday home there will be ongoing costs; community fees, IBI (council tax generally known as Suma, the agency which collects it) refuse (minimal), standing charges for water and electricity (ask to see the previous bills, not for usage because it may have been empty for months), holiday home insurance, non-resident tax, key holder fees (to keep an eye on the property when you are not there and to deal with any emergencies), possibly non-resident bank charges (there are fee free online accounts available) and general maintenance. Personally I would also find a company to clean it before I arrived with bed linen freshly laundered and to get some basics such as bread, butter and milk and to turn on the fridge and water heater.

If you will be visiting in the winter months you will need heating and I suggest you invest in some dehumidifying crystals to save everything going musty when closed up.

How will you get from the airport and back? If hiring a car is there allocated parking?

Just a start, but mainly remember the estate agent is working for the seller, if you have any concerns do your own research or ask on the forum, there's a wealth of experience on here.

killjoy

Posted: Fri Sep 17, 2021 2:08pm

killjoy

Super helpful member

Posts: 3232

1849 helpful points

Location: Orihuela Costa

Joined: 4 Nov 2017

Posted: Fri Sep 17, 2021 2:08pm

Those are important facts, but just the beginning of so many other traps and disgusting things with the only aim to rip you off. Most important: do not pay anything upfront asnd never to an agent, that money is gone. Do not sign anything you don't fully understand, forget "trustworthy" and everytghing related. It's worthwhile to get a so called "tasador judicial" who will give you all the pros and cons related to an object for some 500,- and his appraisal can be used before a court.

Davebev1

Posted: Fri Sep 17, 2021 8:59pm

Davebev1

Legendary helpful member

Posts: 1560

2199 helpful points

Location: Playa Flamenca

Joined: 7 Nov 2017

Posted: Fri Sep 17, 2021 8:59pm

As others have said, have your own independent legal representation.  All money paid should go through your lawyer, not the estate agent.  Make sure all legal documents you sign are fully translated so you understand what you are signing.  Although you can use on-line banking services you may find it easier to use a more traditional high street style bank to start with while you go through the buying process and get to grips with all your bills etc.  Worth having all utilities set up as direct debits, also your IBI.  Ask your legal team if they are including changing the utilities into your name, and do they include doing your first non-residents tax calculation as well.

A lot depends on what you want from the property - are you looking for a permanent home, a second home that you will use slightly less than half of the year (not in one go!) or a holiday getaway place?  But do check that the property has no signs of damp or water damage, or cracks etc, just as you would with any other property you are considering buying.  

Buy with your head as much as with your heart.

Worth checking to see how many neighbours are there all year round, what local amenities stay open in winter and what is the local bus service like (assuming there is one) at different times of the year.  If buying on a community then try and speak to the President and find out about community rules and community fees.  

As Killjoy mentioned, not all properties can obtain a Tourist License so if renting to the holiday market is part of your plan then arrange for your legal team to do extra checks to see if it will be feasible to obtain a License before committing to a purchase.  You can private message me if you need info on this.

This is a big investment.  Buying in Spain involves many thousands in taxes and costs, and selling isn't cheap either, so you need to get it right first time.  Take your time and don't be rushed or pushed along the way.  You need to love the location as well as the property - no good buying a property you love if the surroundings are wrong for you.

Before you start viewing properties do a list of your priorities, your absolute 'must haves', your 'would like to have' and things that would rule a property out.  The list may change and be added to as you begin viewings, but important to rate every property viewed against this list.

In an urbanised area any empty land that isn't designated park or public land can, and will eventually, be built on.  So if there is empty land next to the property be very wary as in five years time you could be looking at a four storey block of flats that blocks your lovely view, blocks your sunshine and leaves you living in a goldfish bowl.  Always assess what is around the property.

But most of all, your are fulfilling a dream, so enjoy the process.  Take your time, visit the place several times.  Don't go out on a 'viewing trip' but go under your own steam, book your own accommodation, staying in an area where you are considering buying, to experience it for yourself, and if you start to feel stressed then take a step back until you feel able to move forward with your plans again.

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interior building work
Blacktower Financial Management
Espana Dream Properties
Expat Services
Gentlevan Removals
Car Key Solutions
Jennifer Cunningham Insurances SL
Costa Blanca Building Specialists
Thy Will Be Done
Airport Service Taxi Mil Palmeras  Torre de la Horadada
AA Free English TV
James Spanish School
Gran Alacant Insurances
ASSSA Insurance
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