Fears for property buyers in Spain

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Spain has warned overseas property buyers planning to invest in Spanish property not to cut corners.

The British embassy is highlighting the importance of overseas property buyers not taking short cuts when buying property in Spain.

The Spanish property market is very favourable and attracting attention from property buyers around the globe.

Many Brits have been investing in Spanish property whilst they are still available at bargain prices, but in desperation not to miss out on a good property, buyers are not gaining necessary legal advice.

Alex Brown, Embassy property adviser said: "You should exercise extreme caution if an estate agent, promoter or lawyer urges you to cut corners to save money or time.”

Brown continued: “The Spanish property conveyancing system is different to the UK. When you choose an estate agent, promoter or lawyer to help with your purchase, check that they are qualified, reliable professionals and have significant experience of operating in Spain and expert knowledge of how the system works,"

To make the purchase of a Spanish property as fast as possible buyers are not filling in important paperwork and those not seeking legal advice are doing so to save more money. Cutting corners is going to lead to a difficult situation later on.

Brown added: "Although the vast majority of British property owners enjoy life in Spain and have had no problems, thousands of British expats are facing some kind of legal problem with their homes, some because they were advised to cut corners during the purchasing process.”

“We strongly urge people to check the advice in full, make sure they use fully qualified, reputable advisers throughout the purchase process, and avoid any kind of ‘dodgy deal’ that could end up costing huge amounts of heartache and hard-earned money later on.”

Not following the law and guidelines when purchasing property is going to cost Spanish home-owners a large amount of money in the future.

Transfer Money to Spain

If you are thinking about investing in Spanish property, it is definitely a good idea to consider the logistics of transferring money abroad.

So before you find out how to send money abroad to Spain be sure to compare the market before you finalise your choice of Spain mortgage.

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