With a Real Estate Advisor, save time, money and … worries!

Our job as a Real Estate Advisor in Spain is to assist and advise you throughout the process of acquiring your property in Spain.

As a Real Estate Advisor, we support you from the definition of your project to the signing of the sales contract with the notary, and even beyond. Going through the request for financing from banks, the search for real estate, the negotiation of prices, administrative and legal controls, the choice of notary, contractual support for the purchase, etc.

We bring you the experience, the listening, the advice and the availability of a real estate professional to find and buy real estate in Spain at the best price and in complete safety.

THE REAL ESTATE ADVISOR

You are planning to buy an apartment or a villa in Spain. You want to make it your main home, a pied-à-terre or your second home. Or you want to make a rental investment. But you don’t have time, you’re not there, you don’t speak Spanish. Or you simply want to go through a professional intermediary to guarantee your interests. We can become your Real Estate Advisor. The real estate professional in Spain who will simplify all administrative, legal, technical, financial and tax procedures. Your trusted partner who will save you a lot of time and money! And that will save you from “headaches”.

A Real Estate Advisor (“asesor personal inmobiliario” in Spanish or “real estate personal shopper” in English) is an independent professional hired by a potential real estate buyer. It is an activity that has been operating successfully for years in countries like France, the United Kingdom and, in particular, in the United States, where a large part of real estate transactions are finalized by real estate advisors. This is a recent service in Spain.

The term “property hunter” is the most frequent term heard, but we do not find this expression very happy. We do not go “hunting”. That of “real estate researcher” would be more suitable. For our part, we prefer that of “real estate advisor” because it goes beyond research. It also involves the concepts of study, advice and assistance.

THE BUYER’S EXCLUSIVE PARTNER

We are primarily addressing buyers, individuals or professionals, who do not have time to prospect and visit, do not live on the spot, do not speak Spanish, do not trust local agencies or ignore the laws of Spanish real estate. As a Real Estate Advisor, we offer them our expertise. We visit, control and select real estate that meets the wishes of our client, the buyer. We assemble the bank loan dossier and negotiate the purchase price with the seller. Finally, we support the buyer in all their legal, administrative, financial and contractual procedures. And, if the client wishes, we can also manage the services or work related to the accommodation, once the purchase has been made.

Our role is complementary to that of real estate agencies. Our support allows for a “balanced” negotiation. The real estate agent will defend the interests of his client, the seller. While we exclusively defend the interests of the buyer without any conflict of interest with the seller. Unlike the real estate agent paid by the seller. Not having a real estate advisor is like “going to trial without a lawyer and negotiating with counsel for the other party”.

We can also advise you and direct you to other services (bank, notary, insurer, interior designer, entrepreneur, etc.), before, during and after the purchase.

SAVE TIME, MONEY AND SECURITY

80% of our clients are from other countries and non-resident Spaniards, the rest are French-speaking residents of Spain. About 90% of the operations we support are successful. In the opinion of our customers, we save them:

Time, our customers save at least three-quarters of the time they should have spent (research, making and managing appointments, visits, counter-visits) if they had decided to carry out the process themselves. This can take several weeks or even months.

Money, on saved trips and trips, but also when negotiating the price at fair value. We will always negotiate better: we know the market; the language and we live in Spain.

Problems, including hidden defects, administrative, legal and financial problems (see our articles “Pitfalls to avoid before buying” and “Pitfalls to avoid during buying“).

We are involved in the research and in the process of acquiring your property as if it were ours. We are committed to offering you tailor-made real estate research, guaranteeing a safe purchase, and providing you with the best-personalized advice.

Our missions are detailed below: property search, property control, price negotiation, NIE and bank account, legal support, à la carte services.

1. THE SEARCH FOR PROPERTY

By finding the property for the buyer, we save them a lot of time and we assure them of a selection of the most suitable properties for their request.

Specifications

First, you describe in detail your real estate project. We define together the research specifications: location (region, city, coast, interior), type of habitat (villa, apartment, duplex, penthouse, etc.), use (main residence, secondary residence, rental investment), characteristics (surface area, bedrooms, terraces, garden, swimming pool, etc.), services (transport, shops, health services, etc.), budget (acquisition, works, mortgage), and any other criteria that seems essential to you.

We jointly validate the feasibility of your project. Then we sign a contract, which details these specifications, and the services we are required to provide.

Selection and visit Properties

As a real estate advisor, we have a perfect knowledge of the Spanish real estate market. We then prospect for you the available property, which correspond best to the specifications. Most often between 30 and 50 properties. Locating a quality property is our job. And for that, we have a network of contacts: real estate agencies, notaries, trustees, lawyers, property managers, banks, developers, etc. For each property we select, we send you by email a written report and a photo or video report of the property and its environment. With its advantages and its defects.

After the research phase (2 to 3 weeks), we organize with you, depending on your availability, one or two days of visiting the 5 or 6 properties that caught your attention.

Tip: take advantage of this period to apply for a bank pre-agreement if you wish to make a mortgage loan. We can assist you in this process (see point 7.d below).

2. CONTROL OF REAL PROPERTY

You selected your property at the end of the previous phase. In some countries the control of the property is carried out by title companies and in some by notaries. In Spain the buyer is responsible for this control. Administratively, legally and technically.

Questions

And the questions are many. Are there any debts on the property? Does the accommodation have all the certificates allowing its habitability? Has the entire built area been declared? What is its actual area? In the case of a condominium, what work is planned or in progress to take care of? Are the payments for co-ownership charges, taxes and miscellaneous charges up to date? What is the energy consumption of housing? In the case of an old building, has it been checked as required by law? Can you use the accommodation to rent it to tourists? Etc.

Controls

With our lawyer specializing in real estate law, we provide all these checks for you. They are often difficult to achieve for people who do not speak Spanish or who are not used to reading technical, accounting, legal or administrative documents.

  • the “Consulta descriptiva y grafica de datos cadastrales” (cadastral description),
  • the “Cédula de habitabilidad” (certificate of habitability),
  • the “Nota simple informativa” (document from the Property Register ensuring that the property is free of all charges),
  • the “Certificado energetico” (energy certificate),
  • the “Certificado de aptitud” (building technical inspection certificate for old buildings),
  • the “Licencia turistica” (the license to use accommodation in tourist accommodation),
  • and the previous deed of sale.

Then we check at the town hall the municipal projects planned in the area. You shouldn’t be surprised to see a tower being built instead of your sea view!

Then, in the case of a joint ownership, we check all the documents related to this joint ownership. The latest annual accounts, minutes of general meetings over the last 12 months, directors’ fees, outstanding payments from the various co-owners, work planned or in progress, etc.Finally, we check the status of current payments. Latest receipts from IBI (Spanish property tax), electricity, gas, water and telephone.

We also tell you the amount of taxes (ITP), fees and charges that you will have to pay on your acquisition.

We send you one or more reports detailing these operations.

3. THE NEGOTIATION OF THE PRICE

In addition to checking the property, we will negotiate the price with you with the owner and / or his representative.

We help you buy the desired property at its fair value, by negotiating at the best price. For this we have price estimation tools, based on the value of equivalent properties in the area. In addition, residing in Spain, knowing the market and speaking fluent Spanish, the real estate advisor will find it easier to negotiate at the right price than a foreigner who does not reside in Spain, does not know the market and does not speak the language. Some agencies tend to have a price for “foreigners”. It’s up to us to bring them back to market reality!

The previous documentary analysis (see 2. Control of real estate) will also help us put forward arguments aimed at reducing the price. It can also happen that the same property is offered by several sites at different prices. Depending on the case, we get 5 to 15% discount on the price originally requested. This largely offsets the cost of our services.

Negotiation is a fundamental step. Getting the best price requires perfect mastery of the market based on experience combined with the ability to negotiate with serenity and openness to dialogue. Professional negotiation, adapted to each particular case, and based on technical and human arguments allows us to obtain the best possible agreement for a secure investment.

4. OBTAINING THE NIE AND OPENING THE BANK ACCOUNT

You cannot be an owner in Spain without having the NIE, the “Número de Identidad de Extranjero” (foreigners identification number). It is a unique and exclusive personal number that the Directorate General of Police assigns to foreigners. This number appears on all public documents that will be sent or transmitted to you. But it is also necessary for all requests directed to the administration; and on most acts between private socio-economic and professional people. The NIE is therefore essential in the case of the acquisition of real estate. We assist you in this approach which is not very complicated but which is often quite long (allow 1 to 3 months). If you want to get it faster, we offer below (part 7.a) a quick formula (3 weeks) and an express formula (5 days).

Opening a bank account in Spain is not an obligation, but we strongly recommend it. First with the purchase because if you pay with an account abroad, the procedure is a little more cumbersome. Then for the payment of your current expenses (taxes, electricity, gas, water, condominium fees, etc.) and the possible collection of your rents. We support you in several banks for the opening of an account. If you mortgage with a bank in Spain, it will require you to open an account with them.

5. LEGAL SUPPORT

Our lawyer specialized in real estate law takes care of the analysis and control of legal documents of the purchasing process:

  • The “Contrato de reserva” (reservation contract ensuring the blocking of the property).
  • The “Contrato de arras” (sales agreement).
  • And the “Escritura” (the notarial purchase deed). And possibly the mortgage contract.

As far as possible, we will recommend an English speaking notary. This will allow you to understand the content of the contract. We also control, in the case of a bank loan, the mortgage deed drawn up by the bank. We ensure, in the end, that the transaction is entered in the Property Register.

6. COST OF OUR SERVICE

All of our real estate advisor services are subject to a contract signed between you and us. This contract contains the details of the operations that we carry out for you, the duration and the conditions of execution, as well as the amount and the terms of payment of our services.

Our rate is 2% to 3% of the purchase price of the property. This sum is only due in the event of success. In case of failure, you pay only the requested advance which amounts to € 800. The services of our lawyer are included in this price.

The amount of our services is largely amortized by our ability to negotiate a substantial reduction in the price of the property chosen. But also by the savings in travel costs (plane / hotel) of our non-resident customers as we are able to maximize your time and thus save you money.

7. REAL ESTATE ADVISOR SERVICES

Besides our global service, we offer more targeted services. If you are interested in one or more of them, please contact us by email at spainpurchase@yahoo.com. We will give you a personalized quote.

a. Quick or express obtaining of the NIE

You need the NIE urgently; you cannot wait for the 1 to 3 months planned. We offer two options, a quick procedure in less than 3 weeks, and an express procedure in 5 days.

b. Property control and / or legal support

You have already found your property. Our mission may be limited to the sole control of the property which is presented in part 2 above. Or / and legal support as defined in part 5 above.

c. Reading and checking legal contracts

Our mission can be limited to the only legal support which is presented in part 5 above.

d. Financing

We can seek financing for your property (most often not more than 80%). 

Our advice: always have a pre-financing agreement before the research with the creation of a bank file.

e. The Golden Visa

You are a non-EU foreigner and you wish to invest more than € 500,000 in property in Spain. You are then entitled to the Golden Visa, a permanent visa for you and your family members. We are at your disposal for this procurement procedure.

f. Tourist rental income declarations

Since last year, every owner in Spain is required to declare quarterly to the “Agencia Tributaria” (the tax service) his tourist rental income. We can provide this service for you.

g. Official appraisal of a property

Whether you are a seller or a buyer, we can have a tasacion carried out, that is to say an official estimate of the property which will allow you, among other things, to build your bank file, but also to better negotiate.

We remind you that if you are interested in one or more of the previous services, you can contact us by email at spainpurchase@yahoo.com.

8. General information on the acquisition of property in Spain

To understand what a real estate advisor in Spain is for, we recommend that you read the following three articles:

The pitfalls to avoid before buying

then

The pitfalls to avoid during the purchase

and

The pitfalls to avoid after buying

This article is an update to a October 2019 article.

The partial or complete reproduction of this document is authorized with mention of the source below:

© buyinghomespain.com – February 2020 – Real Estate Advisor, save time, money and … worries!

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Buy in Spain at the best price

safely and securely.

Call on a real estate advisor

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With more than 20 years of experience in real estate acquisition procedures in Spain, we are at your disposal to assist you with all the necessary steps from the search for a property to services offered after the acquisition. When you are buying a home in Spain we help with organizing the visits of properties, the legal verification of the properties, the obtaining of a mortgage, the administrative procedures and the signature of the different notarized documents.
Do not hesitate to contact us!
Send an email to spainpurchase@yahoo.com
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