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The Buying Process in Spain

buying propertie in spain

Individuals, especially first time home buyers, often want to know what happens when they find a property they love. A deposit must be provided to have the property taken off the market, and legal steps need to be taken to ensure there are no issues with the sale. Once this has been completed, the drafting of a private purchase contract begins. The purchase cannot be finalized until all title deeds are signed and the balance of the purchase price has been transferred to the vendor. To learn more about this process and what it entails, visit the Buying Process Page of the site.

Mortgages

A person can only purchase a home if they have the necessary cash or obtain a mortgage to cover the cost of the residence. Most individuals find they must obtain a loan of this type, and Place 2 Live Spain can be of assistance here also. With so many mortgage options available today, a homebuyer may be confused as to which best meets their needs, and we work with clients to find the right product for them whether they are buying property for sale in Costa del Sol or another part of the country.

Home buyers find they can work with a national bank, a savings bank, a lender, or a mortgage broker to obtain the needed funds. What they often fail to realise is the mortgage lenders may vary greatly when it comes to the terms and costs. They assume that since the interest charged is regulated, all mortgages are alike, yet nothing is further from the truth. In fact, different branches of the same bank may vary in regard to what they offer. We work with clients to make certain they find the product that is right for their specific situation. Visit The Spanish Mortgage Market Page to learn more.

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