Retirement Property in Spain – A Beautiful Place for Family to Visit
Spain’s sunny climate and beach resorts make it an attractive location for people planning on buying a retirement property abroad.
First off, you need to choose what type of retirement property in Spain you desire. Are you searching for a sea view house, a historic home in a local town or a rural finca set on its own land? Making a list of all your requirements and splitting them out in between ‘need to have’ and ‘nice to have’ can save you a great deal of time and make your search procedure a lot more efficient.
Next, you need to find properties that satisfy your requirements list. Whilst estate representatives can assist offer detailed information about the area, region or city you’re looking at, approaching them with some caution is advised. Regulation is reasonably low in Spain and unethical estate representatives do exist. FLY Property work with the best agents in all the regions so contact us to get help in finding your dream retirement property in Spain.
One important thing to remember is to never provide upfront payments, and attempt to stay away from representatives who suggest cutting corners. Some might propose you use their connections but it is highly advised you find your own notary, mortgage service provider and solicitor so you can trust them completely to be in your corner.
Initially, you will make an offer on the residential or commercial property of your choice, normally through the seller’s estate agent. If the offer is accepted, the next action is for the purchaser and seller to sign an initial agreement (called a contrato privado de compraventa) and the purchaser then pays a deposit, generally 10% of the purchase price. This is specifically essential if you are thinking about purchasing a rural home (terreno no urbanizable) where it is not always clear what was built within regulations and what was built illegally. You likewise require to be aware that if you are purchasing a home that remains in ruins, or where some of the outhouses remain in ruins, it is not always simple to bring these ruins back to living conditions.