Property Spain

Spain has witnessed bustling real estate activity and price
rises over the last couple of years. Property Spain has
gained great importance and popularity because of its
reputation as a favorite tourist hub. This has also led to
quick profits and tidy incomes for most investors. However
before you take the plunge there are some things you need
to know before investing.

5 essential things you must know

It may seem all hunky-dory to buy that dream home in Spain.
However before buying it is essential to understand what
will ease the process. Most property Spain has is along the
coastal regions where prices are very high. Therefore it
makes sense to invest wisely so you don't lose out in the
process.

Learn the language: If you're a foreigner wanting to invest
in property Spain, it is time you learnt Spanish. It will
help you negotiate prices better, realize if you're being
conned and above all, even from a long term perspective,
prepare you for settling down in Spain.

Know the health care facilities offered: Although property
Spain may be enticing, if you're from a developed country,
chances are you might find the health care facilities
offered in Spain a tad backward. Therefore, at least
initially you need to have the basic medical supplies at
hand so that you are prepared for any eventuality.

Schools and education: If you intend to permanently move to
Spain and invest in property Spain has to offer, consider
exploring the schools and educational facilities in your
destination. This will help you be better prepared when you
land there. It will also prepare your children for their
education.

Seek a real estate agent's help: You will find it much
easier to evaluate the best properties if you hire a real
estate agent. They will guide you better and get you the
best deals in the market.

NIE number: Did you know that before you can invest in any
property Spain you will need an NIE number? This is a
unique tax identification number that will enable you to
complete formalities of any property purchase. You can get
this number through a solicitor. The process of buying
property Spain

There are a series of stages to buying property in Spain.
After selecting the suitable property, you need to sign
what is known as a 'reservation agreement'. This is a
written agreement between you and the vendor and it clearly
lays down the roles, responsibilities, various clauses etc.
At this stage you will need to pay an upfront amount or
fee equaling one or two percentage of the value on the
property. After this the vendor will withdraw the property
from the market to disable any deals on it from other
buyers. Your solicitor will then perform 'land registry
checks'. This seeks to establish that the property Spain is
clear without any pending liabilities. After this a
contract is drawn up which is then signed by both concerned
parties. Then the title deed gets transferred in your name.

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Steve Magill is the right source for more information on
the Spanish mortgage market. He is a partner in
http://www.buyspain.co.uk and a Fellow in the British
Association of Entrepreneurs (FBAE). He holds international
renown for having hands-on experience in this field.