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Property for Sale in Benissa Alicante Spain

6 April 2016

Buying Checklist When Investing in Costa Blanca North of Spain

Both residents and non-residents are looking for a place full of comfort where they can enjoy the facilities offered by this marvellous region.

Motivation is of great importance. Think of many possible reasons to purchase a property in Spain. Now, you can argue about the quality of life – some people say that life on the Costa Blanca all it's cut out to be – but you can't really argue about the weather. This area has one of the the best climates in mainland Europe, with abundant sunshine, and pleasant temperatures in the winter months. Most people would concede that life is much easier to enjoy when the sun is shining, and you are not shivering with cold.

In Brilliant Real Estate we give you this checklist with the things that you must take into account when buying property in the Costa Blanca North of Spain.

Settle on an area

The area of Costa Blanca north is kind of wide so choosing the location is important. You are going to spend a lot of time in your chosen location whether it be by the beach, inland, a development or an area away from the town. Research the areas to find out what it's like, particularly in different seasons, what facilities are available and the travel times to the different places you will need to visit on a daily or weekly basis. This involves a whole series of individual choices but the final question is, would you be happy living there? Look at estate agents in the region and find out the prices that you would expect to pay.

Type of Property

Think about the kind of property you are looking for in terms of floor area, size, number of rooms etc. It could be worth looking at different types of properties in different residential areas. By looking at a variety of homes you'll build up your knowledge of the present market values in the location you are interested in. But keep an open mind and don't be afraid to investigate that 'wildcard.'

Speak to estate agents

It is important to only negotiate with agents that are officially registered and hold the appropiate licence. Look at as many properties as you can. If you intend to move permanently to Benissa or other places in Costa Blanca North you may be looking for somewhere quieter. If you plan to rent out the house or apartment, you will do better to choose somewhere near the beach or an area with lots of tourist attractions. A good agent will help you through the whole purchasing procedure.

Research all legal issues and costs involved

You may be surprised at the costs involved in buying a property in Spain. A good rule of thumb is to allow at least 10% over the purchase price for fees and taxes. Find a Solicitor (abogado) to advise and assist you. Obtain professional advice and check your finances take account of these additional costs.

Organise your administration

Prior to your house purchase, there are administrational factors that need to be considered such as mortgage, taxes etc.

Making an offer

Your offer in writing should include not only the price, but also the amount of deposit and when it is payable, when you want to complete, what is to be included in the price. An often neglected points to demand that all installations, machinery and equipment should be in normal working order. All of this, of course, should subject to contract.

When an offer is accepted

Checking the land registry is the legal responsibility of the solicitor and if it's all OK she will then prepare a private contract which will bind both parties to the deal. Lodge a deposit on the property, to take it off the market. The public deeds (Escritura de Compraventa) will need to be signed in front of a Spanish Notary. The vacant possession of the unencumbered property will be granted when the balance of the purchase price is paid. The sale is then complete.

Immediately after completion

To prevent the property from being sold twice, the notary will fax details of the title deed to the local land register. This will inform them of the new owner. The notary and the land register act together to protect and guarantee your interests. Your solicitor can also arrange for the transfer to your name of utilities and services such as water and electricity and organise their payment through a local bank.

Let Brilliant Real Estate Help You Buy the Property You are Looking for in Spain.

Brilliant Real Estate is a Spanish-Dutch Real Estate Agency with offices in Moraira Spain-Costa Blanca, Gorssel in the Netherlands and Sebastopol in Russia. We advise both buyers and sellers to manage their property transaction in order to ensure that run smoothly. Our speciality are the Luxury Villas in the Top Locations of Spain such as Moraira, Jávea, Ibiza or Marbella.

Take a look at the complete portfolio of properties that Brilliant Real Estate offers you, and contact us if you see something you fall in love with.

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