Buying a property - Page 2

Cfell63 wrote on Mon Apr 17, 2023 7:32pm:

Kimmy , the “reservation fee” or putting down an amount to make an offer ,  has been implemented more widely to reduce the amount of people, most often investors looking for potential rental properties,  who put in offers on multiple properties and try to play off against each other...

Read more...

... to drive down a price.  I can’t tell you the amount of time I’ve wasted settling a price , ensuring all conditions are met to keep the buyer happy and then they “ change their mind” and go buy something else. My boss hates I don’t press for an offer deposit and I can see where he’s coming from. 

It’s certainly something we aren’t used to and it can seem quite a bit “ pushy”for the British reserved manner lol .

 However , if you are serious about the property , you have nothing to lose. If your offer is rejected , you get your money back . If the offer is accepted , it comes off your settlement balance.  A letter head from the real estate on receipt of the deposit , signed by both the buyer and the real estate at the office , make it a binding document. 

Cfell63 wrote on Mon Apr 17, 2023 7:32pm:

Kimmy , the “reservation fee” or putting down an amount to make an offer ,  has been implemented more widely to reduce the amount of people, most often investors looking for potential rental properties,  who put in offers on multiple properties and try to play off against each other...

Read more...

... to drive down a price.  I can’t tell you the amount of time I’ve wasted settling a price , ensuring all conditions are met to keep the buyer happy and then they “ change their mind” and go buy something else. My boss hates I don’t press for an offer deposit and I can see where he’s coming from. 

It’s certainly something we aren’t used to and it can seem quite a bit “ pushy”for the British reserved manner lol .

 However , if you are serious about the property , you have nothing to lose. If your offer is rejected , you get your money back . If the offer is accepted , it comes off your settlement balance.  A letter head from the real estate on receipt of the deposit , signed by both the buyer and the real estate at the office , make it a binding document. 

Claire53 wrote on Mon Apr 17, 2023 11:50pm:

Thank you for your advice much appreciated 

Thanks clai

Alfapash wrote on Wed Apr 19, 2023 4:24pm:

I echo Kimmy's reply. Also check the Community fees, they can vary greatly, depending on Pools, gardens, projects, private roads, lifts, Administrators etc. They are all paid for from Community fees. Also ask about the Community rules, for example some Communities don't allow dogs, that would mean y...

Read more...

...ou couldn't keep a dog, there are strict rules on Communities, what you can or can't build. where cars can be parked, rules about noise and so on.
Your solictor should make certain there are no debts on the property you buy, for example if they haven't paid their Community fees, you could get a bill as in Spain debts stay with the property not the owner. It can be a minefield, most go smoothly but best to be aware.Good luck and hope you find somewhere nice.