Compared to the U.K., purchasing a property here can be very easy, as long as you go about it the correct way. Preparing for your purchase will make the whole process easier.
Here are 5 steps for a successful purchase:
1.Buyer Analysis:
. Decide first, what kind of home you’re looking for: apartment, villa, duplex?
. What area or neighbourhood do you prefer?
. What is your price point?
. What size are you looking for?
2.Are your finances in place? You’ll need to open a local bank account.
. Do you have the money in place or will you be needing a mortgage?
3.When viewing homes, don’t make the major mistake of looking at too many. It’s easy to get carried away, but you’ll get so confused, you won’t even remember which houses you’ve seen! Try to let your trusted Real Estate Agent narrow your favourites down for you. If they’re doing their job correctly, they should know which home would suit you best and save you time and energy on the legwork!
4.Crafting your offer. This is where the magic happens! You’ve found the right house and now you’re ready to make your offer. We’ve all seen the television programmes where they encourage a buyer to make a “cheeky offer,” when reality is, that just doesn’t happen anymore. Go too low – they won’t want to know! You need to be guided by your Real Estate Agent, as they will know more about the vendor than you. So trust their skills and let them help you make the perfect offer. One that a seller, just cannot refuse!
5.Don’t buy without a Lawyer. There are lots of people around that offer legal services to help with your purchase, but beware, if they are not a Lawyer, they cannot guarantee the legalities of the property. At least with qualified Lawyers, they are part of a governing body, of which they are bonded. I’ve seen too many times, where people tell me they have a Lawyer in place, and they don’t even realize the “Lawyer” is only a Fiscal Representative. Lawyers fees to do the conveyancing for a purchase, should be around €1,000.
Buying? Enjoy the journey!