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Playa Flamenca

Villamartin, Campoamor, El Galan

Cabo Roig

Orihuela Costa - Los Altos
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Mortgages


CONTENTS

General guide

Buying Property through Bestprice

There are a number of ways of buying properties in Spain, all of which have their value depending on your situation, and needs. You may want investment property in Spain, or homes in spain. The Bestprice website is dedicated to maximising choice with estate agents properties, whilst facilitating the private property market, selling UK properties, properties in Spain, and around the world, Whilst in many cases this is due to Bestprice offering commission free property sales, there are also a number of vendors at any given time, who need to sell urgently, and drop their price even further to achieve this. This can also apply with estate agents, even though there will be a commission included, Bestprice allow vendors to sell property commission free, attracting vendors who want to reach a huge private property market, and at the lowest possible price. If you have to Sell property before buying, check our Part Exchange options, where you may find what you want, homes in Spain, investment property in Spain, a UK Property or any other property and sell your property at the same time. Why not maximise the chances of this by using BestPrice to market your property with a part exchange option? You don’t even need a Home Information Pack to advertise your UK property on BestPrice, check our vendors guide to find out more.

Do I need a Solicitor?

Whether you are buying properties in Spain, for homes in Spain, or investment property in Spain, you should always use a solicitor. In the case of Spain, agree a price before commencement, and make sure your Solicitor is prepared to organise all utility contracts; Water, Electricity etc. within the pre agreed price. This is normal in Spain, and will save you a lot of hassle later. If you are looking to buy your rural inland Spanish property, but don’t have a Solicitor, check our solicitors page by clicking here

Many people think they do not require solicitors when buying properties in Spain, but whether you are buying apartments in Spain or rural inland Spanish property, you should still use a solicitor.

What are the benefits of buying resale properties through the Private property market?

  • Pay Less…Negotiate direct with the Vendor
  • Pay Less... Avoid the inclusion of agent commissions
  • Pay Less… Pick up bargains from vendors requiring a quick sale
  • Pay Less… Furniture, fixtures and fittings often included
  • Pay Less… Established gardens, communities and green areas
  • See exactly what you're buying

What are the benefits of buying resale properties through Estate Agents?

You should always look at both agents and the for sale by owner market.  Estate agents provide an excellent choice of property for sale in Spain, and will do a great job for you and save you dealing directly with many of the stresses and headaches. Buying homes in Spain should be an enjoyable process and BestPrice now offer fabulous choice of properties in Spain as a result of offering property for sale in Spain from both agents and for sale by owner.

6 Easy steps to buying a property privately

  1. 1. Decide how much you can spend. You may be looking for a rural inland Spanish property, or simply apartments in Spain. If a mortgage is required, get approval in principle. You can do this through our mortgage link. If you require a solicitor, click "Solicitors" on the left of this page for Solicitors links and Legal Directory.
  2. View our properties, with up to 8 large photos of each, by clicking as indicated above this page. Enquire directly to the vendors of any properties which you would like to know more about. When enquiring about properties in Spain, or properties in the UK, don’t just give a phone number, but explain whether you want to view, or if you have a question, enter it into the text box on the enquiry form. Vendors may not take an enquiry seriously if there is only a phone number or worse still, only an email address. Also, make sure you state your national and international dialling code. We have enquiries from all over the world, and our vendors just will not know how to contact you.
  3. Arrange viewing, and if you like it enough, make an offer, be prepared to negotiate, not only on price, but in some cases the vendor may consider furniture or even a car as part of the negotiation. This is not uncommon with Spanish or ex-pat property sales where the owners are moving back home.
  4. Make notes of price, what's included, furniture, and anything you agree which you think is important.
  5. Exchange details and those of solicitors. With Spanish property you should ask if they have a copy of the Escritura (Deeds). This will assist your solicitor.
  6. Unless a mortgage or a survey is required, you should request your Solicitor to commence searches and preparation of contracts.

Buying a property in Spain

Spanish Property Purchase Taxes and costs

Whether you are looking for 2nd homes in Spain, rural inland Spanish property, or an investment property in Spain, you should prepare for Spanish taxes and associated costs which you will need to pay.

Resale Property Tax : ................. 7%
Transmission tax (of purchase price)
Notary and Land Registry fees: 0.7% (approximately)
Electric and water contracts :.... 240.00:-€uros (approximately)
Plus Valia (Land Tax) :................ 1% (approximately) Normally paid by seller subject to sales contract

Properties in Spain benefiting from shared community facilities, will normally attract an annual community charge based on the property value. In some instances there is no community, so no community charges apply. This will normally apply to homes in Spain with no communal pool or gardens, on a normal no urbanised street. Equally some communities of apartments in Spain have beautiful landscaped gardens which can cost more to maintain so in these instances the charges can be higher.

NIE Numbers

This is a National Identification number. Your Solicitor will advise you on obtaining this. It is a simple process but can be time consuming. Your Solicitor may also be able to offer a service to arrange this for you. Regardless of buying apartments in Spain, or investment property in Spain, you will need this before you can commence your dream of buying your rural inland Spanish property, or apartments in Spain.

Bank Accounts in Spain

You will need to open a bank account to allow for contracts to be set up. This is very simple, and many banks speak excellent English. You only require your passport, and any bank will open an account for you.

Contracts and Deposits

You will need a contract of sale to buy your homes in Spain. Your Solicitor will draft the contract of sale for signing, which will then normally take up to 6 weeks until completion. It would be normal for a 10% deposit to be paid upon signing, which would be non returnable. If you are dependent on a mortgage for your homes in Spain, you should ensure that your deposit is refundable should you fail to achieve the mortgage.

Power of Attorney

This applies more to buying Property abroad than buying UK property, but you will only need to appoint your Solicitor or a trusted friend as Power of Attorney if you are unable to attend at the Notary for completion.

Buying a property in the UK

Buying Property in the UK through BestPrice

Buying property through the private market in the UK has always been very simple, and now you can save money by buying UK property direct from Vendors, using the BestPrice website. Please be aware of our property part exchange options, where you may just find an opportunity to buy your UK property, and sell your property in one single step. With a growing number of people downsizing their home to free up money for lifestyle changes, part exchange can work really well whether up or downsizing. If you have to sell property before buying, why not use BestPrice to market your property on the internet, with a part exchange option. You could find yourself buying a property and selling a property, at the same time.

HIP (Home Information Packs) It is now UK Law that all UK properties require a HIP (Home Information Pack). However, on this website you will be able to view properties prior to them coming on the market. Please note that whilst we are only letting you know what is due onto the market soon, you can still approach the owners direct and get a lead on the other buyers before the property gets in the hands of estate agents and goes on the market. These properties are marked "Due on market soon" and do not have a Home Information Pack yet. If you make an offer on one of these properties before it goes onto the market, and that offer is accepted, the vendor must by UK Law purchase the home information pack. You should not commence with any sale without this pack (HIP). Stamp duty is payable when buying property in then UK, as detailed below:

UK Stamp Duty

Current rates as at 6th November 2007-11-06
Purchase Price

Up
to
£125,000
0%
Duty Payable
£125,001
to
£250,000
1%
£250,001
to
£500,000
3%
£500,000+
4%

Buying a property in the Rest of the World

There are a number of ways of buying property on the international property market, and each Country may have its differences in the way People buy property abroad, and sell properties abroad. Years past it was only properties in Australia or properties in Spain, but now people are moving all over the world inc Turkey, Bulgaria, Cypress, even the USA Property market is now on the agenda of so many people.

The Bestprice website is dedicated to Discounted Resale properties, in the key countries of the world, the majority of which are at prices considerably lower than those charged by estate agents in those countries.
Whilst in most cases this is due to Bestprice offering commission free property sales, there are also a number of vendors at any given time, who need to sell urgently, and drop their price further to achieve this.

Bestprice allows these vendors to reach the huge private property market, selling UK Property at the lowest possible price. You should check the local laws of whichever country you are buying in, whether Australia, Turkey, Bulgaria, Italy, France, the USA or anywhere else.

BestPrice cover the world over, but this section is aimed at Properties in Spain, including Homes in Spain, apartments in Spain, Investment property in Spain, Rural inland Spanish Property and all property for sale in Spain.

BestPriceProperties areas include properties in Spain in Alicante, Apartments in Spain at Benidorm and Valencia, Rural inland Spanish property close to Denia, Homes in Spain at Javea, Torrevieja, Playa Flamenca, La Zenia, Cabo Roig, Campoamor, Mar menor, Cartegena.  Great investment property in Spain at La Manga, Pilar, Torre de la Horadada, Almeria, Mojacar, Nerja, Torremolinos, Mijas, Marbella, Estepona.  Property for sale in Spain are our business.