1. How to buy a house in Spain – property buying process
2. Costa del Sol real estate specialist
3. Getting a mortgage in Spain through La Caixa Bank
1.HOW TO BUY A HOUSE IN SPAIN – PROPERTY BUYING PROCESS
STEP 1: PROPERTY RESERVATION
First of all it is important that you realize that in Spain everybody is allowed to offer houses for sale. You may have noticed that ¨your¨ house is also offered for sale through other local people both professionals and private persons. Think about other estate agents, the local shop, the local bar owner, a house wife working from home on the internet. For this reason we strongly recommend you to formalize your offer on the property paying an amount to be agreed which is usually around 3,000 Euros. After receipt we will make sure that the vendor will remove the property from the market, thus protecting your interest to purchase. Should you need getting a mortgage in Spain or in your own country and in the end you do not succeed in getting that loan, the reservation amount will be refunded in full.
STEP 2: INVESTIGATION PROCESS
The property has been taken off the market now. We will execute all the necessary investigations of the property with the corresponding authorities in order to make sure that the property you would like to buy is legal and free from any charges, debts or encumbrances. You will also get guaranteed that the property has the necessary Title Deeds and that the property is allowed to be sold by the person that offered it for sale. You may already see at this stage: many bad stories we have all seen in the international press regarding (serious) problems that can arise when buying property in Spain can simply be avoided if you contract the right professionals that will help you how to buy a house in Torre del Mar, Torrox, Nerja, Axarquia, Malaga or anywhere in Spain!
STEP 3: DRAWING UP THE PRIVATE CONTRACT
Once the investigations are complete, and we are sure the property is legally declared in the best conditions to purchase. A ¨contrato de arras¨ ( Private Contract) is drawn up and signed by both buyer and seller. This private contract sets out all the details of the agreement, payment terms and completion date. During this stage the buyer puts down a non-returnable deposit, which is usually 10% of the purchase price, less the holding deposit paid at the reservation stage (see step 1).
STEP 4: SIGNING OF THE DEEDS AT THE NOTARY´S
Buyer and vendor sign the title Deeds (Escritura de compraventa) of the property in the presence of a Spanish notary. The notary is an official of the State who makes sure that the contracts are legal. His or her duty is to certify that the contract has been signed, that the money is paid and the purchaser and seller have been advised of their tax obligations.
STEP 5: LAST STEP - FINAL TITLE AND REGISTRATION
While you may be celebrating your property purchase or perhaps may have started moving in, we will do the final step: we will register the property at the Land Registry office so that you will be registered as the new legal owner. In normal circumstances it takes about three months to get the necessary document returned from the Land Registry Office.
On your behalf we also change the following bills within our standard service:
Water, electricity, community Fees (if it exist), council tax, rubbish invoice, etc.
2. COSTA DEL SOL REAL ESTATE SPECIALIST – ONE-STOP-SHOPPING AT MIMI REAL ESTATE
As you may have read on our introduction page we have had more than 20 years of experience in real estate in southern Spain and especially along the Costa del Sol. We are always having an amount of interesting properties for sale and for rent in our books. Should we not have the right property for you directly in our books, we will most probably find your dream property in our extensive network of professionals. Working in this way you avoid losing a lot of precious time having to talk with various estate agents at the same time or always having to repeat your search criteria. We also have a wide range of rental properties in our books both long-term and holiday rentals.
3. GETTING A MORTGAGE IN SPAIN
Estate agent Torrox Costa del Sol Mimi covers the full Costa del Sol including areas like Marbella, Málaga, Frigiliana, Nerja and – of course – Torrox. Thanks to our way of working during the years both in prosperous and difficult times, the Spanish bank La Caixa is helping our customers getting a mortgage in Spain now.