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With so many negative stories about buying property in Spain from corrupt officials to illegal building practices, its no wonder that the British public are nervous about falling into the same trap. No one wants to risk losing their hard earned savings, but fortunately for those who are looking to invest in a property abroad, there is some valuable tips and advice to be had if you look in the right places and think sensibly. The horror stories exist, but they are in the minority; if you do your research and go through a reputable company, Spain is still a very safe place to invest.
Here are five top tips from a leading property agent in Spain.
Do your research
Research is extremely important when buying a new home. Not only should you look at the areas you are interested in, you should also check out who the developers and agencies are. If you have access to the internet you can check out websites for information on agents, developers and developments available, along with background details on the company and how the will assist you through the home buying process.
Track record counts
Many agencies may claim that you can trust them, but how do you know if they are reliable? Choosing a well known company with a good track record is the first step. You need to find a company with an in-depth knowledge and experience in the market in which you investing.
Check guarantees
There are a number of guarantees that you can check to make sure that the developer is legal and above board. You should make sure that any property you choose has a structural guarantee and the correct building licences. Those operating in a professional way will be only too happy to show you copies of these and to allow your legal advisor access to them.
Trust the experts
A reliable and competent team of professionals is a good indictator of a quality company. Look for a company with a team of experts who can advise you on all elements of the buying process. If you put off at the thought of arranging mortgages and legal arrangements in a foreign country, you can often benefit through a company’s partnership with Spanish financial institutions. Similarly good companies will have links with both financial and legal advisors who are accustomed to the financial and legal processes in Spain.
Customer loyalty
Knowing that other people have bought a property from the same company and that they have had a good experience is really important. Read the testimonials offered by the agents, speak to friends about who they used, try and get recommendations from others who have been there and who can give you unbiased information.
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