GUIDE TO BUYING PROPERTY IN THE CANARY ISLANDS AND SPAIN

Also in this section:

• Buyer's Guide
• Fees and Taxes
• Selling your property
• Finance & Mortgages
• Legal Requirements
• Addtional Information

INTRODUCTION

Owning a property overseas is becoming more popular and easier to achieve. The ideal climate, the economy and the demand for property , particularly in the Canary Islands, provides a basis for a sensible investment and comfortable living. By doing your homework and using qualified professionals you can make your property purchase an interesting and enjoyable experience.

Estate Agents.

A good Estate Agent in Spain will normally provide a far more comprehensive service than an agent in the UK. The services should include: preparation of purchase contracts, obtaining identification numbers (N.I.E.) and certificates of non residence, arranging legal advice, assisting with finance, mortgage, insurance, furnishing etc. It is important that the agency should be independent and licensed. Being licensed implies that they belong to the Confederation Europeene de L’immobilier (G.I.P.E.) or to the Colegio de Agentes de la Propiedad Inmobiliaria (A.P.I.)

Lawyers.

To provide security and peace of mind when buying property it is important to allow an Abogado (Spanish lawyer) to take legal responsibility for your purchase. You will need to choose a reputable legal adviser who speaks fluent English and is familiar with Spanish property transactions in the local area. (View our legal guide.)

Checklist before buying.

To help you make the important decisions, before buying a property, consider the following points:

• Choose a region.

Consider the location, which one of the Canary Islands for example. Decide on the town or village in that region and find out about the facilities, weather, transport, etc. Does it offer what you want?.

• Type of property.

Think about the kind of property, an apartment or villa, the number of bedrooms, garden or pool. It could be worth looking at a range of different properties within your price range. This will enable you to increase your knowledge about current market values.

• Use Web Sites like casaquest.com to find your property.

This is an ideal way to search the properties offered by a number of different estate agents, all contained within the casa quest website. You will be able to search for properties that match the region, type and price that you are looking for. Your choices can be sent immediately, by e-mail, to the agent(s) concerned.

• Visit the area.

Take a couple of weeks holiday in the area that you have chosen. As you have done your homework using casaquest.com, you will have a short list of properties to visit . Use the services of the agents that have replied to you, to view all your properties.
If you wish, bring your laptop computer with you, for the latest updates using casaquest.com. It is a lot easier than looking for individual estate agents and it allows you to make an independent decision without sales chatter.

• Find a Solicitor (Abogado).

Whatever property you choose, your solicitor will be able to guide you through the legal procedures. Our legal section will outline some of the important issues that are involved.

• Make an offer.

At this stage you can make an offer subject to contract. With the help and approval of your solicitor the purchase contract will be drawn up and a deposit paid.

• Completion

When the offer has been accepted your solicitor will prepare the ‘Title Deeds’ (Escritura de Compraventa) for signature in front of a Spanish Notary. A Notary is both a lawyer and public official who will ensure that the conveyance deed is drawn up correctly and witness the signing of the deed. He will also collect the fees and taxes. After the balance of the purchase price has been paid, in the presence of the Notary, the sale is complete.

• Registration of the property

Immediately after completion, the Notary will arrange for the details of the title deeds to be sent to the local land registry for official registration.

Disclaimer:Casa Quest has made every effort to ensure that all the information provided is accurate. However, it is not intended to be a substitute for professional or legal advice. Regulations and laws do change and therefore Casa Quest cannot accept responsibility for any loss or damage caused by any actions, taken or not taken, as a result of using the Casa Quest website or acting on the information contained within.

Spanish Law

José Escobedo is an English speaking Spanish Lawyer in Tenerife offering independent Spanish legal advice and Spanish legal conveyancing on purchases and sales of property in Tenerife, Canary Islands, Spain.

www.spanishlaw.info

Buy Private Property

Buyprivateproperty.com is a specialised Canary Islands property website where you can advertise your private property for sale and search through our listings absolutely free of charge.

www.buyprivateproperty.com

Property for sale abroad

Your guide to buying property off plan in the Canary Islands, Spain Buying a property off plan, before it is built, is an excellent way to save money on your Spanish property purchase in the Canary Islands as long as you don’t mind waiting a little until the property is completed.

www.propertyforsaleabroad.eu