Reserving a home to buy in Spain is very simple. Very straightforward. But also very different to that of the U.K. So what is expected of you, after you’ve found a home you wish to purchase?
Here is a brief overview of what you will be required to do next, to take the property off the market:
Make an offer! Take guidance from your Real Estate Agent, regarding how much your offer needs to be. If your future home is in a sought after area, and other properties are selling fast, then your offer should be pretty close to the asking price. Sometimes, paying the full price maybe the only way to go, especially if it’s been priced correctly for sale in the first place.
Reserve it! Once your offer has been accepted, you’ll have to pay a deposit. You’ll either be required to pay by a credit card or bank transfer. If you’re being asked to pay your deposit in cash, make sure you have this written into your reservation contract. Credit card payments tend to offer good exchange rates. And, if you are given the choice, it’s always better to pay in the currency of the country you are in, i.e. Euros in Spain. For bank transfers, you can use a currency company, i.e. Moneycorp, however if you haven’t already set up your account with them, you may need to just make the deposit transfer directly from your bank direct. Most times, your deposit will need to be paid before you’ve had time to activate your account with a currency company.
If you’re not in a position to pay a deposit, don’t make an offer! This can be very upsetting for a home seller, especially if you’ve made a low offer, and they’ve taken their time to accept it. If you’re only interested in knowing if the homeowner would be open to discussing an offer, then take advice from your Real Estate Agent instead. It’s unfair allowing the homeowner to think they’ve sold because they accepted your offer when, in reality, you had no intention to move forward with the purchase.
When you’ve set your heart on a property, the only way you’ll be able to secure it, is by paying a deposit.
If your deposit money is not available, you’re not ready to make an offer just yet.
Once your deposit has been paid, the property will be reserved for you and only you, as this will stop anyone else from buying your future home in Spain!
Need expert guidance with your property search? Call us today on 966 718 392 or send us an email: sales@homes4u.es With the help of our “online virtual tours expert,” you can walk through “virtually,” every property we offer for sale, from the comfort and safety of your own home. Ask for Catriona, and schedule your guided online virtual tour, today!
See our advert in the centre spread of this newspaper.
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