Buying in Spain

Step 1

RESEARCH RESEARCH RESEARCH

Fail to prepare and prepare to fail! Buying a property abroad can change your life but if you don’t know what you are doing, it can seem confusing and tiring! Luckily there is a honey pot of knowledge out there and you can learn from other people’s experiences to help you on your way. Getting information from multiple different sources will help you compile an image in your mind of what you really want and what needs to be done. Doing your own research is important as it means you can be confident you are doing the right things and asking the right questions along the way.

Think about

  • Why you are buying a property abroad?
  • How will you finance this purchase?
  • What due diligence do you need a lawyer to do for you?
  • What are the costs of sending money in & out of a foreign country?
  • How you can make your move a permanent one?
  • How is it possible that you can generate a rental income?

Understanding the buying process

It is obviously important that you understand how the buying process works in the country you are going to buy your property in. Having even a basic understanding of the legalities of said country, will save you a lot of hassle later.

Roccabox TIP

Talk to your estate agent about what you are unsure about. Question everything that doesn’t make sense to you, the process in said country might be very different to your own and it is important that you continue this process informed.

Protection laws

You should be aware that if you are buying a property abroad you are covered by the Consumer Protection Regulation (CPR) which sets out the guidance for how agents who market property to UK buyers should behave. More details and information can be found on the website of the Office of Fair Trading.