F.A.Q's

Why do I need an agent in the first place?

You don't! If you don't mind driving around the area for a couple of months, and even then most people fall back on an agent because they are tired of looking. A good agent can find you the property that you want within a day or two.

Yes but how do I know a good Agent from a bad one?

Well, I know that we are a good agent, even if I'm blowing my own trumpet. So I will tell you how we operate. A good agent will ask you questions for about an hour or two before you even get into a car to go property hunting. This may sound boring, but it means that you end up better informed about the process of buying a property and the agent will be better informed about you. The trick is to ask if the property viewing is individual, or if you are driven around as part of a group of 3 to 6 different buyers, which all have different things they want to buy.

What is wrong with being driven around in groups?

The most general complaint is that you will not be seeing many, if any, properties that suit your taste or budget. The entire 4 days could be a waste of time. Also, a lot of people appear to buy a property on these trips, and then regret their choice. This may appear strange but a bit of pressure from a cunning Sales rep. appears to have a great effect on some people.

Do you put any pressure on your clients?

Well, everybody says no to that, although some are clearly lying. I have to answer no to that question although the only way I can prove it is by your experiencing our service. I can tell you though, that when a client of ours decides to buy, we will always ask if they are sure, as we have a very good reputation with builders as providing reliable customers once the deposit has been paid. We intend to keep that good reputation so we prefer you don't buy rather that you buy something you don't want or aren't sure you want. This may seem foolish, but we are sure that we will find the property you want.

How could we possibly see enough properties in 3 or 4 days to be sure that we will find one we like?

Well, as I previously explained, a good agent will ask questions and take you to see properties you are likely to find interesting rather than take you to see anything hoping you will like it.

So, if I find something I want to buy, what happens next?

For a new house, you pay a deposit which is 99% of the time €3000 or aprox. £2000 Sterling. Then, most of the time, you will have to pay 25% of the total price of the house one month after signing the contract and 25% two months later so that after 3 months you will have paid 50% of the value of the house plus the deposit which is refunded when you make your last payment. The last payment can be all cash, or you can take out a mortgage. There are some exceptions to this however. Some builders require only 40% of the total cost of the house in the first 3 months, some require even less although you should not expect to get as much choice if you want a house on those terms. The good news is that the rest can be paid in the form of a mortgage when the house is finished. Your choice will be limited, but you will be able to buy a house with as little as 30% down in the first 3 months.

So you only do new houses.

No, but they are normally cheaper than their resale equivalent, save but a few.

I thought resales were cheaper.

Rarely, like when someone needs a really quick sale or when the house itself is a dump. So you're an opportunist. You still have to like the great deal that you see. It's about playing the waiting game. Besides, all houses were new at one stage. Everybody wants to get their money back on their investment plus the increase in value that comes with it. Then you have to add agents commission, which with new builds is included. Also, you never know how much commission the agent has put on top of a resale. We don't put much on top. However I know of a house worth €110,000 that is being sold by an agent for €131,000. There is also a 10 year warranty on new houses, which will be either shorter or expired with a Resale.

Do you add commission on new properties?

No, the builder pays us after the sale, so our service is free.

What if I go direct to the builder?

If you go direct to the builder, you will be making them more money, and they will provide no assistance during the settling-in period. Also, if there is a problem with the house, we can apply pressure on the builder from our end, which is easier than for a buyer in the UK or Ireland.

Why don't the builders sell by themselves all the time then?

Well, they are aware that it is the agents who have the contacts in the UK and Ireland, and sell all their houses. If one of them stopped doing that, they would either have to expect a drop in the selling speed, or create their own agency. Neither is very appealing to them. Very few builders have their own agency. Only the very biggest ones. Possibly two or three on the entire Costa Blanca & Costa Calida. It doesn't make houses any cheaper though.

Is buying a property complicated?

Well, as previously explained, when you decide on which house you want to buy, we take you to the builders office and you sign a legally binding contract which will explain what you are buying and how much you have to pay. The contract will have the dates of each payment following the deposit stating the amount to be paid including taxes. Normally the builder will have an English version of the contract available so that you are given a chance to understand what you are signing.

What about Taxes?

Builders prices do not normally include taxes or legal fees. Taxes are 7% and expect another 3% for legal and Notary fees. For a New Build, you need a fiscal representative and a Notary. For a Resale, all of those AND a Lawyer are necessary.

A Notary?

A Notary is used for the final payment for a house be it new or resale. He will ensure that you are aware of everything that buying a property entails. You will have, at your side, a translator who will make sure that all the main points are understood as the official version of the contract is in Spanish.

What if the builder goes bust?

Some builders have a bank guarantee to their name, in which case you are protected. Most don't. Even if a builder does go bust, which just doesn't happen as the market is still growing and houses are selling well, another builder will buy the site and buildings and complete them as there is a lot of money to be made. There is no danger of this happening. However, there are a few builders we are not dealing with because we didn't like how they treat customers after the sale. This reflects negatively on our service so it is in our interest to not deal with such builders.

How does Properties In Spain treat customers after the sale?

Again, we are blowing our own trumpet but we do have a very good after sales service. We have even done snagging on occasion. We help you through and give you all the necessary information and contacts to allow you to settle in Spain as easily as possible. We will be here for you 24/7 for whatever query you may have at least until your house if finished. If you need any help after that, we will be there too. It is all free and included as part of the service we offer. You will deal with the same person from start to finish.

So what do I do now?

You should either call us or email us with any questions you may have. Also, you should check the properties that we have available as a detached villa for  £70,000 is no longer an option on the coast. We don't want you to come down here expecting a miracle. Prices are rising so act now!