Finding a Property
What type of property are you looking for? And in which area of Marbella? Many potential purchasers think they are looking for one type and end up purchasing something totally different. Unless you are very clear about what you want, look at different types of properties in different residential areas, with an open mind. Ask yourself what you really want and need? Doing this will help build up your knowledge of real estate values in this area. Every area in the world has its own market patterns, looking at different property will help you answer the basic question “What do I get for my money?” or ” How much do I have to spend? ” When you have answered this, you will certainly be able to make an offer with much more confidence.
Choosing a reputable estate agent is certain to save time and trouble. There are many highly qualified estate agents in Marbella, and, as in any other area, there are the more opportunistic and less qualified ones as well. We are open, sincere, communicative, professional and we are genuinely interested in helping you meet your needs.
Ascenso Real Estate wants to share with you our knowledge and experience in the property field; to help to explain the pros and cons of different areas and properties; to interpret your requirements and analyse your needs.
THINGS TO CONSIDER WHEN BUYING A PROPERTY IN SPAIN
The Spanish market is once again booming, so now is a great time to buy! You may wish to consider a few important things first.
Why do you want to buy? It is almost impossible to find exactly what you want, and if you do, it is not likely that your spouse will agree with you 100%! Finding a property with which you can both be happy will usually mean a compromise. Remember, the “perfect property” seldom exists – even when you build one yourself.
Location is a very important factor, whether it’s a holiday home, investment or you are moving abroad to live permanently. Do you want to be close to the airport? Do you require sea views in a town or perhaps sea and/or mountain views in a more tranquil area? Do you need to be close to facilities (will you be buying or hiring a car?) such as nightlife, local shops, golf courses or schools? Often people find that they fall in love with a property, however forget these important factors, which can make or break the experience of living in the property.
If you are buying an unfinished property, the developer is legally required to provide an insurance policy or bank guarantee, to protect your payments in the event of the work not being completed. Developers must also provide building specifications, detailed plans and copies of proof of ownership deeds as well as planning permission. A brand new property will also come with a 10 year guarantee. Known in Spanish as the Seguro Decenal, this building guarantee covers serious structural faults that affect construction elements such as the foundations or retaining walls for the first 10 years after building completion. Consumer protection laws entitle you to this guarantee at no extra cost to you (the developer pays for it). An experienced conveyancing lawyer will anticipate these contingencies when drawing up the purchase contract.
If you are buying a property that has already been built and previously owned, the seller must be offering a property free of liens and encumbrances, and be up to date in the payment of all rates, community fees, electricity, water and any other normal running expenses of the property, up to the date of completion. Your agent and lawyer will look into this on your behalf. You will also need your lawyer to obtain an NIE (Número de Identificación de Extranjero, which is a Foreigner Identification Number) that will allow you to put all utility bills into your name.
Property values are analysed in terms of area, views, quality of materials, year of construction as well as the facilities and services offered by the complex or urbanisation in question and, more than anything else, comparative recent sales of similar properties. A Comparative Market Analysis will have been undertaken by the sellers Estate Agent before the property was put on the market.
Are you ready to get your property search underway? Contact us now to get started!