Buying Property in Spain Tips

VISA REQUIREMENTS
Research the Spain residency requirements and laws in that particular area you are thinking about buying a property.  Find out what category you are either being a resident or non-resident and what fees may apply to you as the new owner.

GET IT ON PAPER
When you are negotiating a property or making a payment, ALWAYS get it in writing. Any receipt of payment or an agreement about anything.

TITLE DEEDS
Find out who owns the title of the property and if there are any loans or debts against the title deed of the property.  Once you buy the property, you will have to pay those, so make sure you know if the seller owns the title deeds of the property in question.

OUTSTANDING UTILITY BILLS
Check with the utility companies to see if there are any outstanding utility bills as you may be liable to pay once you buy the property.

OUTSTANDING TAXES
Are any property taxes that have not been paid.  Any taxes due now for the property you are buying.

GOVERNMENT OR PROPERTY FEES
Any fees owed to the government?

MAINTENANCE FEES
Does the new property have any monthly maintenance fees to keep the pool or grounds clean?

GET A SURVEY OF THE PROPERTY
Independent survey individuals who speak your language are very worth paying for.  Know in what condition is the property before buying it.

GET AN ATTORNEY OR LEGAL ADVICE
Appoint an independent Attorney that does not work for the real estate agency or the seller.  An Attorney who is experienced, speaks your language and licensed to practice in the country where the property is.

BUILDING PLANS FOR THE AREA
Go to City Hall and ask about everything for the house, the area and the building

PET REGULATIONS IN THE AREA
Ask the owner or neighbors to see if the building or property has any regulations about pets.

VACATION RENTALS RESTRICTIONS
Know if the property has any laws about renting the new property

PROPERTY AREA
get to know the area to see if you are going to like walking around  and how safe it is.

CRIME RECORDS OF THE AREA
Any crimes in the area? is it really safe?

KNOW THE BUILDING OR HOUSE ISSUES
Talk to the neighbors to see if there are any issues such as a new elevator, new roof, floods, lack of heat or water.

KNOW THE DEVELOPER OR OWNER OF THE BUILDING IF HE/SHE IS THE SELLER
See the projects he has done and his clients to see if they had any problems with him.  Make sure he has no prior arrests for fraud or anything like that. Make sure he or she is who he/she is.

WRITE A WILL IN THE COUNTRY YOU OWN A PROPERTY
Since the property is overseas, you will be better off writing a will in the country where you have a property just in case.  Some countries have strict  inheritance laws.

TRANSLATOR
If you don’t speak the language where you area buying a property, make sure you get a translator

MORTGAGE
Shop around for lenders who offer cheaper interests. Do not just use the one the seller or real estate company offers.

ADDITIONAL FEES
Calculate within your budget all the additional fees you may have. Utility connections, property tax fee, money exchange fee, mortgage fees, moving fees, etc…