# help, nearly ready to buy, hopefully



## sharon288 (Jul 12, 2014)

well been quite for a while but have been thinking long and hard, we visited last month for a couple of weeks but sadly didnt see anything we wanted to buy, but have settled on an area. Due to go back first week in June for a few days to "try again". On last visit....i think one reason we got no where was so much conflicting advise. Do I need a Spanish bank account before making an offer on a property, one agent said yes, one legal firm said no we could pay the deposit by transfer into their customer account (much like the uk). I understand that the deposit once paid is binding and non refundable but how much is this or is it a percentage of purchase price , again conflicting answers, do i pay this deposit through the agent, a notary ????all buying advise gratefully received, One agent gave us horror stories re getting "the NIe number" but was happy to save us the trouble for a horrendous fee. As we are still working our time is Spain to "look" is limited and I need to be spending this time wisely....sorry for long post


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## VFR (Dec 23, 2009)

Ready to buy (?) no you maybe ready to rent but not to buy.

Sharon you have a lot more homework to do (the NIE comment tells me that) so you end up where you wish to be.

Where is this area you have decided on ?


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## sharon288 (Jul 12, 2014)

VFR said:


> Ready to buy (?) no you maybe ready to rent but not to buy.
> 
> Sharon you have a lot more homework to do (the NIE comment tells me that) so you end up where you wish to be.
> 
> Where is this area you have decided on ?


hi, we are looking in the Murcia area, we thought we had just about fathomed all that we needed to be aware of but then when we came out to view seemed to be told a lot of different things i am starting to think that the agent we contacted was not the best not going to rush as i am happy to make as many trips to spain to "view" as needed just want to ensure I make the most of these short trips


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## jojo (Sep 20, 2007)

As VFR says, why not rent first. That way you will understand the procedures, the areas, meet other people and get a much better picture - you might love it, you might hate it, but at least you wont be tying yourselves to a situation that would be difficult and costly to get out of and you will be there should something that you love come up

Jo xxx


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## snikpoh (Nov 19, 2007)

My advice, for what it's worth, is;

If you have your own property in UK - keep it and rent it out
Rent in Spain using the proceeds of the UK rent
Open a non-resident account in Spain
Once here, get your NIE and certificate of registration (you'll also need health cover etc.)
Once resident, change bank account to resident account
If, eventually, you find somewhere that you think would suit you for the rest of your life, then sell UK property and buy in Spain


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## fcexpat (Sep 25, 2014)

snikpoh said:


> My advice, for what it's worth, is;
> 
> If you have your own property in UK - keep it and rent it out
> Rent in Spain using the proceeds of the UK rent
> ...


Your advice, for what it's worth lol, is spot on.
No one in their right mind should buy before experiencing an area for at least a few months. If you buy and after a few months wish you were somewhere else then everything will soon turn sour, believe me. There's so many properties for sale out here !! I wouldn't like to think I had to sell one !!


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## Allie-P (Feb 11, 2013)

It seems to be true ! Those who are buying need to be so very careful.....

We rent a house in a lovely street in La Cala. One of our neighbours is a German lady who bought the house opposite, last year. 

She absolutely hates it here. Most of our neighbours are 2nd home Brits who come & go, throughout the year. 

Although, the location is perfect, around the corner from the sea - there are several properties, here, which have been up for sale for several years.

This lady has also discovered damp on several of her walls. She was a cash buyer & says there was no survey done. Apparently, according to her, 'proper' surveys are not available here. I find that very hard to believe !!

She has even threatened to sue her Agent......I feel very sorry for her. The worry is affecting her health.

She is currently in Germany for medical treatment. I don't know how the system works there ??

We are searching for another rental property & have the freedom to do so. I have changed my mind continuously about my perfect Spanish property, since arriving in Spain more than 2 years ago !!!


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## jojo (Sep 20, 2007)

Allie-P said:


> We are searching for another rental property & have the freedom to do so. I have changed my mind continuously about my perfect Spanish property, since arriving in Spain more than 2 years ago !!!



We were the same. When we were planning our move to Spain, I had the "perfect" place in my mind and we found it - we rented it and after a few weeks, it was dreadful and totally inconvenient, many issues cropped up that we hadnt thought in depth about (miles from anywhere, had to use the car all the time, a stone quarry up the road creating dust, farm next door - which also turned out to act as an abattoir ....) We learnt a good many lessons there so moved again to another rented place. That was better, but again because of the conflict of what we liked, wanted and needed, it wasnt quite right, so we moved again - this time, we got lucky - altho it was nothing like the sort of place we wanted when we first started planning from the UK.

During that time, we learnt so much about the laws, rules, regulations of buying, renting, living in Spain, we learnt who the good agents were and who the bad were. We understood the markets and how much things should cost, where the "nicer" parts of town were..... We also learnt about how houses are built, the differences from UK houses, the cold, rains and wind in the winters (flooding), we made lots of friends and the most important. We learnt about daily life in Spain - once the novelty wears off

Jo xxx


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## Horlics (Sep 27, 2011)

Hi Sharon,

Answers to your questions:

You do not need a Spanish bank account before making an offer on a property. You will need to pay a deposit to the agent when you have an offer accepted. There is no fixed percentage, I paid about 1.4% but the exact amount is between you and the agent. Keep it low, make it a gesture of intent but not a massive financial commitment. This is the payment you make when signing the reservation agreement. Later, you'll be asked to pay about 10% as a deposit (when lawyers are working on both sides of the contract) and this is money you will pay into your lawyers client account where it will be held until completion. The final amount will must be paid on the day you see the notary or shortly before. So, 3 payments in total, 1 to the agent and 2 to the lawyer.

You do not need a Spanish bank account for the 2nd payment as your lawyer will let you transfer it into his client account. But, once you have put down the reservation fee with the agent it is wise to get your bank account setup. Depending on how you transfer money, you may or may not be getting a good exchange deal. I was with HSBC and consider their international transfers to be daylight robbery. It's better to get your own account and start the process of shifting all the money you need over at the best possible rates. This is very important, you can save around 3% of the purchase price over high street banks' transfers.

Getting an NIE is simple. There will be an office somewhere in the area which you must attend. You'll need your passport and you will fill out a form and pay a small amount. I can't remember exactly but I think ours were about 15 Euros per person. A slight complication is that it was necessary to make 2 visits, one to register and get an appointment, and then the appointment itself at which the NIE was issued. Be aware, these offices have a limited ability to communicate in English and are under no obligation to provide the service in English. At the office I attended in Denia the transaction had to be done in Spanish. Many people take along a Gestor to translate. You don't personally have to be there so agents can offer to do it for you, but mine wanted 30 Euros for the service not an horrendous amount.

Hope this helps.



sharon288 said:


> well been quite for a while but have been thinking long and hard, we visited last month for a couple of weeks but sadly didnt see anything we wanted to buy, but have settled on an area. Due to go back first week in June for a few days to "try again". On last visit....i think one reason we got no where was so much conflicting advise. Do I need a Spanish bank account before making an offer on a property, one agent said yes, one legal firm said no we could pay the deposit by transfer into their customer account (much like the uk). I understand that the deposit once paid is binding and non refundable but how much is this or is it a percentage of purchase price , again conflicting answers, do i pay this deposit through the agent, a notary ????all buying advise gratefully received, One agent gave us horror stories re getting "the NIe number" but was happy to save us the trouble for a horrendous fee. As we are still working our time is Spain to "look" is limited and I need to be spending this time wisely....sorry for long post


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## Pazcat (Mar 24, 2010)

We never paid a deposit to an agent, I know it is often the case but at no point did we ever do that or were even asked to.


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## snikpoh (Nov 19, 2007)

Pazcat said:


> We never paid a deposit to an agent, I know it is often the case but at no point did we ever do that or were even asked to.


It's like a gentleman's agreement and that you are serious.

Some people don't need it but many do.


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## VFR (Dec 23, 2009)

sharon288 said:


> hi, we are looking in the Murcia area, we thought we had just about fathomed all that we needed to be aware of but then when we came out to view seemed to be told a lot of different things i am starting to think that the agent we contacted was not the best not going to rush as i am happy to make as many trips to spain to "view" as needed just want to ensure I make the most of these short trips


Ah glad to hear that as the so called agent needs to go.
Rent for a spell & you can then find out if you like the area and also get a better idea how things work (NIE is easy)


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