Purchasing properties Costa del Sol and getting a mortgage
Thanks to Spanish banks having restarted giving loans to foreign property buyers in Spain, purchasing properties Costa del Sol has become more interesting than ever for everyone interested in having a residence in Spain. We at Estate Agent Nerja Torrox Costa del Sol Malaga Estates are having a close cooperation with several banks. Thanks to these cooperations we are very happy that we have been able to do an extra step for many of our customers who needed getting a mortgage in Spain in order to finance (part of) their investment on purchasing properties Costa del Sol.
Please read further regarding the home buying process in Spain below the contact details….
Contact:
Estate agent Torrox Costa del Sol Malaga Estates (click to open our website)
Mr JM van Dolder
jvandolder1970@gmail.com
+34-722 728 785
Home buying process in Spain when purchasing properties Costa del Sol
STEP 1: RESERVATION
We strongly recommend you to formalise your offer on the property paying an amount to be agreed between you, your estate agent and the vendor. Based on this reservation you will make sure that the vendor will remove the property from the market, thus protecting your interest to purchase. The reason is that offering houses for sale is allowed to any other estate agent or any private person who made an agreement with the seller and offers your favourite house anywhere like for example on social media. As a consequence you might miss ¨your¨ house because at the same moment another person may have put in a higher offer through another agent or private person.
In addition, since 2016 the market has become very tense thanks to buyers from some countries whose banks offer 110% finance when buying a house in Spain. There are a lot of cases in which buyers lost their favourite house to another buyer who made an earlier decision. This can be avoided if you put down a reservation sum
STEP 2: SEARCHING PROCESS
A legal investigation will be carried out by your lawyer. You will also get the guarantee that the property has the necessary Title Deeds and that the vendors are the rightful owners.
STEP 3: PRIVATE CONTRACT
Thanks to this Private Contract you will be well-protected: if the vendor cannot deliver the property within the conditions stated in the Private Contract, you have got the right to get your deposit refunded in full plus an additional damage restitution of the same amount.
STEP 4: COMPLETION
Buyer and vendor sign the title Deeds (Escritura de compraventa) of the property the presence of a Spanish Notary. The Notary is an official of the State who makes sure that the contracts are legal. His or her duty is to certify that the contract has been signed, the money paid and the purchaser and seller have been advised of their tax obligations.
STEP 5: FINAL TITLE AND REGISTRATION
You have become the owner of the property now. The final step is that we will register the property at the Land Registry office so that you will appear as the new legal owner. It usually takes about three months to get the necessary document returned from the Land Registry Office. We collect this document for our clients.
Purchasing properties Costa del Sol, find our listing by clicking on this link.
We at Estate Agent Costa del Sol Malaga Estates look forward to welcoming you and are prepared to help you purchasing properties Costa del Sol! Contact us if you want us to do a in-depth search in the Costa del Sol property database not all estate agents are allowed to access!
Contact:
Estate agent Nerja Torrox Costa del Sol Malaga Estates (click to open our website)
Mr JM van Dolder
jvandolder1970@gmail.com
+34-722 728 785
