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Plenty of residents of the UK and Northern Europe are discovering that purchasing property abroad is an attainable and desirable goal. Since decent capital growth is offered, lower air prices and interest rates have made purchasing property in Spain more desirable. Spain offers short air travel time, outstanding sunshine and plenty of potential growth. If you’re willing to disregard bad press and follow some underlying rules it can be very safe to buy in Spain. The following is a fundamental guide for those interested in purchasing real estate in Spain:

• When considering purchasing property first look to arrange your finances.
  Consider using a Spanish mortgage expert to guide you through the process.


• Before you sign any binding contracts, seek expert legal advice.
  


• Set yourself a maximum budget and stick to it
• Be ready in case deadlines are stretched.
  
• Wait until you have the funding in place before committing yourself to a private purchase contract.
  
• Be prepared for the Spanish purchase procedure, which is different in Spain than in the UK and elsewhere in Europe.
• Make sure you completely comprehend how taxes are incurred depending on the type of ownership status you select If you don?t seek specialist advice

Before you make any purchases, it would be wise for you to approach the situation with a list of questions that for your Spanish Lawver. There have been a lot of situations where buyers from abroad do not get the results they seek because they either asked the wrong questions or did not ask questions at all before hand. Before signing on the dotted line you should get answers to some of the following:

• Is the site where the property is located listed as urban or rustic? What complications can come from purchasing land that is rustic.


• What costs will need to be taken into account, such as typical attorney’s fees and taxes?


• Are licenses already in place, for instance property contracts or first liens of residency?




• Did you purchase this product directly or was it a cessation of contract?


• Will there be any under declaration in this purchase?


• Will further costs be incurred by you such as capital gains, inheritance, income or other taxes?


• Do you need to pay any extra deposits? At what point in the process are they considered nonrefundable?


• Are there any additional legal costs or fees to be paid?