01/27/08

Interested in purchasing property in Spain? 

READ ON TO SAVE YOURSELF MONEY..!

Click here for house for sale in Seville

Click here for house for sale in Cordoba

Click here for house for sale in Iznajar     

Buying a property in Spain is very easy.  There are hundreds of Estate agents advertising property on the internet, and some offering cheap viewing trips to Spain with the promise that they will show you the types of property you are looking to buy.   Whilst this can be a good way to purchase property, there are things to be wary of.

NEW PROPERTY

Agents on the coast tend to try to push buyers into purchasing property 'off plan'. This basically means that you agree buy a property before it is built, and fix a price at today's market value.  In theory you save money as by the time the property is complete, the market value should have increased.  However in many cases, there are extensive delays in completing the builds, there can be problems waiting for paperwork and permissions, there can be changes to the plans for the property you choose.  In addition, when the property is complete, and if you have decided to sell the property in order to cash in on the increase in market value, very often you can be selling in a market already saturated with similar properties - all people in exactly the same situation - having bought off plan wanting to sell on and realise their investment.

RESALE PROPERTY

If you are looking to purchase away from the Costa's in Spain, there are far fewer new developments, and its best to look at a resale property rather than a new build.  There are many estate agents specialising in resale properties such as finca's, renovation properties, town houses etc. many of which are located in inland towns, and can show you properties for sale within their local area.  Local agents act as intermediaries between the property owner and prospective purchasers, handling viewings and price negotiations etc. However, estate agents often give false impressions to purchasers by leading them to believe that land with a ruined property will automatically receive planning permission for renovation work, or that properties not connected to mains electricity can be linked to the electricity network for just a small cost (this can often run into tens of thousands of pounds). Andalucia planning legislation is very strict now especially on 'rustic' land of less than 10,000 square meters.  Many planning applications are being refused leaving frustrated land owners with land they cannot legally build on. 

In addition buyers should be warned that all estate agents factor in a commission for themselves into the agreed purchase price which can be anything up to 30% of the purchase price of the property!! Most buyers are unaware that such a large percentage of the purchase price is being handed over to the estate agent. 

We have been visiting Spain for over 5 years now, and have built up a close network of Spanish friends, who have welcomed us into their community with open arms.  However we have time and time again seen local people and house buyers 'ripped off' by estate agents, and have therefore decided to assist our friends by advertising their properties for sale on our website.  Instead of acting as estate agents we will put prospective purchasers in direct contact with the owner of the property so viewings and negotiations can all take place in the open and so cut out the payment of commissions to estate agents. 

We are currently advertising just 3 properties, all very different to each other.  Please click on the links below in order to view the property details.  If you are interested in viewing the properties please email us on iznajar@iom.com and we will put you in direct contact with the property owner in order for you to make arrangements to view etc.   The only assistance we will give is to help with translation of correspondence if you should wish.