Advice on how to buy a home safely and confidently in Spain

Whether you are on the look out for a holiday home, good investment or a permanent base abroad, purchasing a home in Spain for many, can be a daunting experience. Indeed, with unfamiliar laws, regulations and customs, the process of purchasing a dream home abroad may be a step to far for individuals. Luckily, International Accreditation Scheme Safe Buying Experience, the independent quality award that customers know they can trust when looking to buy abroad, is offering some advice on how to go about purchasing a property in Spain both safely and confidently.

Jim McCook, Managing Director at Safe Buying Experience (SBE) comments: “Purchasing a home in England can be an intimidating prospect and that is when you have the advantage of speaking the language and knowing the laws. So understandably when faced with the prospect of purchasing a home abroad the different laws, customs and language barriers can seem all too much and regrettably sometimes individuals’ fall casualties of the system.

“However, these potential shortfalls for individuals can be overcome by carrying out the correct research and establishing relationships with companies that have your best interests at heart.”

Commenting on the SBE Accreditation that aims to provide reassurance to would-be property purchasers, Jim comments: “The SBE accreditation was set up as a symbol of trust, quality and high standards. In increasingly competitive markets, the SBE accreditation award gives comfort to the customer that independent and professional checks have been carried out and sufficient safeguards are in place for a safe buying experience. Properties that have obtained this award such as Taylor Woodrow de España developments help provide much needed reassure to customers and buyers that a robust quality control process has been satisfied, meaning that the home that they are purchasing is legal and above board.”

Jim at Safe Buying Experience offers some helpful advice on how to go about purchasing a home in Spain:

1) Research, Research, Research

As the saying goes ‘only fools rush in’ and this is no truer then in the case of purchasing a home. Make sure you carry out plenty of research regarding the area of Spain you would like to purchase in and indeed the type of property that will be most suitable for your needs. Does the area you like live up to your expectations? Perhaps you already have friends who own a property in Spain, if so they will be able to provide you with a great insight. Additionally, whilst this might not be practical for everyone, a good way of grasping exactly what a location has to offer is by living there for a few months, especially if you want to live their permanently. Renting a home for a short period of time may provide you with the insight you need to make a truly informed decision.

2) Only deal with companies with good track records

Make sure you only deal with developers and agents with an enviable track record. By choosing a reputable company with a proven track record you are already minimising the chances of pitfalls in the purchasing process. Our website safebuyingabroad.com offers developments from developers with enviable track records such as Taylor Woodrow de España who build developments in a number of desirable locations throughout Spain, which may provide a helping hand in the property search.

3) Protect your interests

It is imperative that you seek guidance from a lawyer who is a specialist in Spanish Law. To ensure that this happens you need to appoint an Abogado (Solicitor), a member of the Colegio de Abogados (local Spanish Bar or Law Society). They will help guide you through the Spanish legal process with the minimum of fuss.

4) Ensure you check your property efficiently

Once you have appointed a legal representative make sure the property you are considering is thoroughly searched by your lawyer. A number of checks and formalities need to be carried out including: ensuring that property is officially registered in the name of the owner, the relevant planning permission has been granted, utilities are connected, no debts outstand on the property, to name but a few.

An advantage of purchasing a property that has been accredited by Safe Buying Experience is that the individual can be assured that the above checks have been carried out. Allowing peace of mind that the property has been built in accordance with planning rules and regulations ensuring that the purchaser is not burdened with a poor or unenforceable contract after handing over a reservation deposit.

5) Make your Euros work for you

When purchasing a home in Spain you will need to convert your hard earned Sterling into Euros, in which exchange rates can swing hastily depending on what is happening in the global environment. Make sure you get the best deal possible. In cases of large sums of money, specialist currency brokers may be able to help you secure a particular rate of change as soon as it hits the market place.

6) Know what you are signing

Before the sale of your property you shall be presented with a lot of paperwork in which to read and complete. Make sure you know exactly what you are signing and don’t be afraid to ask questions if you are unsure. After all, once you have signed the documents they are legally binding. Again, if you purchase from a reputable house builder such as Taylor Woodrow de España, they will be able to guide you through the purchasing process both during and after the sales has been completed.

Jim concludes: “The same principles apply to purchasing a home in England as it does in Spain so ensure you use your common sense throughout the purchasing process – don’t allow it to be lost in translation!”

If you would like to find out further information regarding the Safe Buying Experience accreditation Scheme please visit safebuyingexperience.com

UK house builder Taylor Woodrow de España, the only major UK house builder in Spain has a range of Safe Buying Experience endorsed quality homes available in Mallorca, the Costa del Sol, Costa Blanca and Costa Azahar, with prices starting from as little as £110,000. With a reputation for trust, Taylor Woodrow de España provides a specialised service and dedicated team within the UK and Spain who can help and advise homebuyers through the entire process of choosing, buying and settling into a new Spanish home.

For further information on Taylor Woodrow de España and the developments available, visit taylorwoodrow.es