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Purchase Assistance...
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Visit in person
Never buy any property without making a personal visit at least twice.
While you’re there, spend some time in the immediate area, get to know people, ask questions and find out what the local amenities are like.
See how the environment changes throughout the day. Are there busy times where traffic becomes a problem? Is there a noisy bar or club nearby? Where’s the nearest hospital?
Negotiate terms
Once you’ve chosen a suitable property, the price and conditions will need to be agreed.
It is quite acceptable to make an offer subject to mortgage approval and, for properties that are still being built, you’ll want to agree a schedule of stage payments rather than pay the whole amount up front.
If you haven’t already appointed a lawyer, you must do this now or run the risk of entering into an agreement that cannot be enforced under Spanish law.
Be prepared to act quickly
The property market in Spain is buoyant and properties can sell extremely quickly.
Be prepared to make a fast decision and back this up with a deposit (usually around €3,000) to secure the deal.
The deposit can be made in cash or by credit card.
Avoid the temptation to pay by cheque as this can take up to 10 days to clear – ample opportunity for a rival investor to step in with a cash deposit.
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