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Absolutely NOT !.............. At Quicksell we’ve deliberately chosen to completely avoid the normal sales tactics and “hype” associated with the real estate industry, in favour of a more open and laid back approach, which allows you, the consumer, the time to make your own mind up about what, where and when you buy.
From experience we know that it normally takes at least Three Visits to Spain before you find the perfect home and unlike other agents, who tend to be a bit blunt if you’re not prepared to buy on day one, we are more than happy to invest as much time as it takes to find exactly what you’re looking for, after all it’s not a pair of shoes you’re buying.
In fact we are so opposed to Sharp Practice and misrepresentation of goods that we’ve actually taken the time to compiled a detailed report on the subject, (Please see below) which exposes many of the underhand tactics used by the sharks in the industry.
And as a form of double indemnity you’ll be pleased to know that we follow the strict guidelines laid out by the Office of Fair Trading (OFT) code of practice, even though we’re based in Spain and as an added bonus we have also recently been accepted by the Association of Property Finders and Buyers Agents (APFBA) as their only Spanish member, which is quite an honour. So you can rest assured that when you talk to Quicksell you'll, not only be able to buy with complete confidence, but you'll also have plenty of time to make up your mind. |
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Okay let’s assume you’ve viewed a property you like and want to make an offer. Well in order to make an offer on a property in Spain, you will have to place what is known as a Reservation or Holding Deposit on the property, usually this will be between € 3,000 and € 6,000, this can normally be done by credit card. The reservation deposit system does Three Main Things, first in the case of a Re-Sale, it removes the property from the open market until your negotiations with the vendor are concluded.........Second and this applies to Key Ready properties only, it reserves the unit in your name with the developer until you complete, usually 28 days after deposit..... and third it prevents you from being gazumped. With regards to a Re-Sale property, closure is slightly different, first you need go to Private Purchase Contract (PPC), where you pay 10% of the purchase price within 28 days. Then you need to set a Mutually Agreeable completion date for the transaction where the balance of the purchase price has to be paid and the deeds to the property need to signed, though if you wish you can go straight to completion and skip the PPC stage, as in the case of a Key Ready property. Oh and just so you are aware, unlike a Re-Sale you cannot make an offer on a Key Ready property, as they have already been heavily discounted by the developer and as a result the prices quoted are cast in stone. You can learn more about the Buying Procedures by clicking the button below. |
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Well the procedure is pretty simple really, when you’ve made the decision to purchase you’ll need to do THREE things immediately.
Firstly, you’ll need to appoint a professionally qualified lawyer who specialises in Spanish property transactions.
At Quicksell we have a panel of Professional Lawyers that we deal with regularly and can highly recommend, though if you would prefer to find one yourself through the yellow pages or internet, please feel free to do so. Secondly, you will need to obtain a Foreign Identity Number (NIE) which is a legal requirement here in Spain when purchasing property. Your lawyers will organise this as part of their instruction fee, which in Spain normally amounts to 1% of the purchase price, although there are companies out there who charge less.
Thirdly and probably the easiest one of the three, you’ll have to open a Spanish Bank Account, which will allow you to, not only pay all of the costs and taxes associated with the transaction, but also any future utility bills and community charges on the property, again your lawyer will arrange this.
If you would like to know more about the Legal Requirements on purchasing in Spain please click the button below. |
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