30 Nov 2012 3:27 PM:

Harry07 I actually work for a legal firm which also has an Estate agent, so yes, CP is an Estate agent but I am not trying to market here.  I was writing from my point of view. I bought last year after 5 years of renting here. I decided that as I would be buying with a long term timescale in mind (20 years plus) I felt although things are bad, but I didnt want to rent someone else´s property anymore with the associated problems and I felt my property was a good buy. As you say everyone has views which should be respected, and although moncapitan lists excellent points a lot can happen in the future and although this is a world recession we generally go through these cycles. We´ll see first what happens with Greece and the bailouts. I am hopeful for Spain. I suppose I may be an optimist after all!  But whatever life goes on, and whether my house is worth a bit less or not for a few years (I do drop it will drop 25%), it is mine and will be there I hope for many many years, perhaps 20. I would not have bought if I had any thought of selling in the next 5 years. Perhaps even longer.

Thread: Purchasing a Property - What are the Essentials & the Pitfalls !!

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30 Nov 2012 2:21 PM:

When things are better the prices will go up... it is very difficult to judge the right time to buy but for anyone I would say only buy if you are looking at it long term.

Thread: Purchasing a Property - What are the Essentials & the Pitfalls !!

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30 Nov 2012 1:38 PM:

Getting back to the original question, the essentials are to

- as others have said do your research. For example, be aware of the taxes you have to pay and that the Hacienda will look at what you paid at the Notary if it was a fair price for the house.

- best to use a lawyer - they can then prove to you that they have done the proper checks at the Land Registry, that everything is legal, all of the property is on the deeds, that there is an existing debt on the property that needs to be cleared etc

- make sure whether a lawyer or anyone else is doing it that all utilities contracts are transferred into your name (or out of your name if selling)

- that you are fully informed of your ongoing committments in terms of tax (many people dont realise about non resident tax), council tax (IBI) and community fees (find out what the community situation is)

- get a survey

Don´t be too concerned, many people buy property here without any problems. You just hear the bad stories but make sure that the legal work is done properly. Look into the reputation of your lawyer too.

 

Thread: Purchasing a Property - What are the Essentials & the Pitfalls !!

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30 Nov 2012 1:25 PM:

Totally agree with Floella. Many people have made a move to Spain for a more relaxed pace of life (for me, it was to see my child. Getting home at 10 pm at night after work and a demanding five year old didnt really work). Many of them have made successful careers, enjoy the Spanish culture, speak the language and have a very mixed base of friends. Others have come here to retire and are happy knowing that the weather is much better and Spain has a lot of wonderful experiences to offer.  Not all professionals are dodgy, there are many very geunine business people here too.  I would love to see a documentary on a more positive note. There are many feel-good documentaries about other holiday destinations and people settling there; why not here? A sort of one step further from A Place in the Sun where you see how people continued after they had taken the big step. Good luck John.

Thread: Living In Spain Documentary Film

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23 Nov 2012 9:35 AM:

At least the government is trying to do something to improve the situation. As John says the biggest slice of tax income does come form ordinary people and one reason the country is in a mess is that people hav avoided taxes for so long. And they do have a purpose. But it will be interesting to see how effective these measures actually are.

Thread: NEW REGULATIONS re CASH, TAX ON OVERSEAS ASSETTS and automatic Residencia and

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