The home buying process in Spain. Step by step
Buying a home is a very important decision that must be considered calmly. But, if you have already decided to buy, there are many factors to take into account: those that have to do with the characteristics of the property, those related to the documentation and the economic part.
As a general rule, most buyers are not experts in real estate operations, either because it is your first home or because you have not had to change your home frequently. That is why it is normal that the concepts that are handled in the real estate transaction are totally foreign to you and this can lead to making mistakes that can be avoided if someone alerts you.
As in Marbella WOHNEN Immobilien we know that the real estate transaction is a complex matter, we want to offer you in the simplest way possible the steps you must follow in order to make a real estate purchase successfully.
The type of property and the budget almost go hand in hand. In the budget we have to be clear about how much money we can or are willing to pay.
Whether you opt for a mortgage or another form of financing, defining the budget is one of the most important steps when purchasing a home. When you define the budget, you must be realistic and adapt the budget to your needs, tastes and, most importantly, always think that you can pay so as not to borrow excessively.
Choosing the type of property
The first step is to clearly define what are the characteristics that we want our house to have and what are the priorities that we need it to cover.
It will be important to decide what type of property we want (a flat, a semi-detached house, an independent house …) and the area in which we would like to live. And, we will also have to decide if we want a second-hand or new-build home, number of rooms, bathrooms and m2.
When you have looked at all the real estate portals on the market, you have contacted all the real estate agencies in your city and they have answered each of them, you can begin the arduous task of visiting and visiting homes to see if any fit what you really want.
During the visits, take the opportunity to analyze the property in depth in search of hidden defects, flaws … a difficult task, right?
Negotiation with the seller
This is one of the most complex parts of the property buying process. You have to understand that sellers will always want to get the highest possible return on the property they put up for sale, but what you want is a reduction in the price of the property that you are about to buy and it is at this point where it is located. the complicated, opposite interests.
Negotiating with a seller or a real estate company can assure you that it is not an easy task, you have to know the real estate market very well to be able to carry out a good negotiation.
The Sales contract
Before signing the contract that makes the sale of the home official, you must check that everything related to the Sale contract is in order (Legal advice). In addition, you must request certain documents and deeds such as, for example, a Simple Note in the Property Registry.
After signing the sales contract, it is time to seek financing. At this point, most of the buyers begin to talk with the banks to see which entity offers the best conditions.
Notarial deed of sale
The notarial deed of sale is made before the notary chosen by you as the buyer. Possession of the home and the remaining amount to be paid to the seller are delivered in the same act.
What did you think of the purchase process? Has it been easy for you? Most of our clients hire us precisely because of this, because of the complexity of buying a home and the problems that can arise when buying.