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Looking to buy

Posted: Tue Sep 3, 2019 9:16am
41 replies3935 views26 members subscribed
Willie67

Posts: 4

Location: Villamartin

Joined: 26 Aug 2019

Hi!  I'm coming over from the U.K. to look at buying a property.  Ive had an offer from an estate agent in the U.K. to take me around and show me different areas.  I'm not sure whether I'd be better trying to get in touch with an estate agent from the Villa Martin area.  I have 5 days and want to use the time as best as I can to also look at properties.  I'm hoping to find a place that my family can use as a holiday home initially.  Any suggestions and advise is most welcome.....also it would be great to get in touch with anyone who may have the time to meet for a coffee or a quick chat while I'm there.  

Youhoo

Posted: Tue Sep 3, 2019 10:07am

Youhoo

Helpful member

Posts: 155

74 helpful points

Location: Orihuela Costa

Joined: 23 Jun 2018

Posted: Tue Sep 3, 2019 10:07am

My advice is don't  rush into this there are plenty of estate agents around who will fall over themselves to help take your money please research the area before plunging in take a bit of time to make an informed choice ,will you be on an urbanisation,is it well run not in debt,noise from bars lots of empty properties,etc I don't regret one minute since I bought mine, love it here full time for 5 years now in Playa Flamenca

Joan48

Posted: Tue Sep 3, 2019 10:23am

Posts: 63

26 helpful points

Location: Villamartin

Joined: 9 Jul 2019

Posted: Tue Sep 3, 2019 10:23am

We did a 5 day viewing trip with Europrestige. You book your flight and they do all the rest - accommodation, pickups etc. They were excellent and no pressure to buy. They refund you your flight costs.

Cheers

Joan

Cheryl

Posted: Tue Sep 3, 2019 11:12am

Cheryl

Legendary helpful member

Posts: 1912

2038 helpful points

Location: Albatera

Joined: 8 Jun 2017

Posted: Tue Sep 3, 2019 11:12am

Unless you already know the area well, treat the 5 days as an introduction only and don't be tempted or pressured into handing over any kind of deposit or signing up to anything. This sounds very much like a viewing trip and the internet is full of tales of high pressure sales tactics.
My advice would be to book yourself a few independent trips where you will have more time to think and reflect. In August, the Spanish decamp to the coast adding to the already large numbers of tourists, noise can become a nuisance and the N332 is often at a standstill. In winter some areas will be very quiet where the majority are holiday homes. If you would be hiring a car then a property with allocated or off road parking will become more important the closer you are to the beach and if you intend using public transport only then good connections to the airport will be essential. The new airport at Murcia does not yet have good transport links to either Orihuela Costa or Torrevieja.
With 10% purchase tax plus solicitor and other fees, buying is not cheap and if you want to sell, not only could it take many months, if not years, you will have estate agent fees on top.

Due to irregular torrential downpours, exacerbated by a lack of sufficient drainage, flash flooding can be an issue especially in more built up areas where the streets become rivers, just don't expect an estate agent to tell you about anything likely to put you off buying.

You will need to get an NIE and this will be easier to do in the UK and to open a Spanish bank account. You are likely to be charged about €30 a quarter as a non resident but again you will need to do some research to check how easy their site is to navigate and use from the UK and also where their ATMs are as there are charges for using different bank's ATMs.
An independent Abogado (@ solicitor) is essential to avoid a conflict of interests. Just google "Should I use an independent solicitor when buying property in Spain"
There are hundreds of all types of property for sale here so don't be pressured into putting a deposit down to take something off the market.
This is a beautiful part of the world, I absolutely love it, but you need to proceed with caution as although the buying process is quite straightforward there can be problems. Don't be afraid to ask questions on the forum.

All the best.

Carol299

Posted: Tue Sep 3, 2019 11:21am

Posts: 91

38 helpful points

Location: La Zenia

Joined: 15 Jun 2017

Posted: Tue Sep 3, 2019 11:21am

Hi

We are in the area from 7th to 16th and would be happy to share our experience with you.  Cases Manuel is a very good estate agent and as someone here said Linda is great.

Carol & Brian

Ancient Printer

Posted: Tue Sep 3, 2019 2:16pm

Ancient Printer

Helpful member

Posts: 236

235 helpful points

Location: Javea / Xàbia

Joined: 4 Jan 2017

Posted: Tue Sep 3, 2019 2:16pm

Willie67 wrote on Tue Sep 3, 2019 9:16am:

Hi!  I'm coming over from the U.K. to look at buying a property.  Ive had an offer from an estate agent in the U.K. to take me around and show me different areas.  I'm not sure whether I'd be better trying to get in touch with an estate agent from the Villa Martin area.  I hav...

...e 5 days and want to use the time as best as I can to also look at properties.  I'm hoping to find a place that my family can use as a holiday home initially.  Any suggestions and advise is most welcome.....also it would be great to get in touch with anyone who may have the time to meet for a coffee or a quick chat while I'm there.  

I strongly recommend that you rent - forget buying! Why? The transfer costs are over 13% so on a €100,000 property you have €13,000 in costs (plus the legal fees of an abogado - crazy to buy without one). Those costs would probably cover 2-3 years' rent. When you come to sell - if you can - there's 6% commission (€6000) another year's rent.

Your rights of rental occupation are guaranteed for 5 years under the new law and the landlord can only up the rent by the annual IPC which is virtually zero at present.

Property is unbelievably hard to sell - ignore the crap you see in the newspapers - mainly written by agents. Property can easily be on the market anything from 2 to 10 years and often sells for 50% or less of 2005 prices.

Yes, I reply in advance to some who will criticise this post. Some properties sell quickly and even at a profit if bought originally at a bargain basement prices. 

Most buyers who buy at today's firesale prices will shortly be approached by the Agencia Tributaria for the "Bargain Hunters' tax" which can add an unpredictable extra cost to the buying process.

Renting also gives y flexibility if you decide you don't like the area. It also frees you from the overheads of a bought property not to mention the quicksands of getting a rental permit to offer tourist lets. Get that process wrong and you could end up with life imprisonment even if you escape the hangman's noose!

Spanish property over the last 20 years is possibly the worst possible investment you could make (with the pound a close second) A.P.

Golandrina

Posted: Tue Sep 3, 2019 5:54pm

Golandrina

Very helpful member

Posts: 885

757 helpful points

Location: Almoradí

Joined: 24 Mar 2018

Posted: Tue Sep 3, 2019 5:54pm

I would suggest that you read Jim's Guides on this site - he has a wealth of knowledge!   Also, the Citizens Advice Bureau Spain site has current information regarding general queries, of which you will have a lot.   If you drive then look at the N332 site for anythng to do with driving in Spain.   The latter site is run in conjunction with officers of the Guardia Civil for English speaking people and has an English version of the Spanish equivalent of the Highway Code.   

Just be aware that many provinces and town in Spain 'tweek' rules and regulations for their own procedures and that many things may change for British ex-pats after the 31st October.

Cheryl21

Posted: Tue Sep 3, 2019 6:53pm

Cheryl21

Helpful member

Posts: 120

57 helpful points

Location: Punta Prima

Joined: 14 Jul 2018

Posted: Tue Sep 3, 2019 6:53pm

Hi. We used Sunworld last year. Amy was brilliant. She showed us around the different areas and different styles of property within our budget.  We looked at Villamartin La Zenia Playa Flamenca and Los Alcararez before deciding that Punta Prima was for us this was a decision we could not have made from home.Also all the properties we liked before going we didnt like when we got there mainly because estate agents dint shiw pictures if surrounding areas or any bad views. Sunworld can likw many other agents show you around properties listed by other agents  . There was no pressure and she was very informative. Our offer was accepted on the 5th day of our search . We have visiited about 7 times since we had our keys in September and couldnt be happier with our decision.my advise is go with an open mind  Good luck with your search 

Rustyruss67

Posted: Tue Sep 3, 2019 6:56pm

Posts: 51

34 helpful points

Location: Villamartin

Joined: 2 May 2018

Posted: Tue Sep 3, 2019 6:56pm

We had at least four trips before we bought ,our original remit was “ walking distance to plaza” we eventually bought in pau 8 and have a quad house which we rent out. We have now put a deposit on a new build in San Miguel las salinas which is a quieter area. Villamartín is a great place to live but can be quite busy and overcrowded, my point is your requirements can change so don’t rush into buying until you have visited and stayed there a few times

mrspin

Posted: Tue Sep 3, 2019 8:28pm

Posts: 21

26 helpful points

Location: Las Filipinas

Joined: 30 Nov 2017

Posted: Tue Sep 3, 2019 8:28pm

Please be very careful about the advice you receive from here.  I was also warned not to use the Estate Agents Solicitor and so I used the one they recommended which was Uma.  She turned out to be a 'helper' who had access to a solicitor andI had to cancel her with quite a lot of vitriol which put my sale back my nearly a month. 

By all means go to Casa Manuel as they truly are scrupulous - definitely use their solicitors - I am in the process of it right now - and they are wonderful

Be very carful what you take on board on this site.  I have had spite and negative feedback even whilst in the middle of my purchase 

Regards  

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