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Purchasing and developing Properties direct from the Builder

Buying a property direct from the builder

Properties for sale in Spain direct from the builder

Buying and developing property in Spain

 

Buying Direct from The Builder

 

Why have a used house when you could have a brand new Villa or Apartment with your own personal taste in all the finishing’s and appliances! Buying Direct from the builder can be cheaper than purchasing a second hand property in Spain by up to 30%, that with the fact the properties are built to the highest quality standards and with the most modern materials, it is easy to see why many Expats choose this option.

 

Bear in mind however, that you are will be buying and paying for a property that does not yet exist. Therefor care must be taken to protect yourself from some unscrupulous builders that are inevitably around.

 

Stage One of buying a property Direct from the Builder

 

Reservation Contract

 

When signing the reservation contract, you will be asked to put a down payment of between €3000 and €6000, this is a short contract with:

 

·     Developers / Builders Name

·     Company Details

·     A general Property description

·     Total price of the property

 

ALWAYS hire an independent lawyer to check all the paperwork from the outset. Be sure to get a copy of an approved building License at this stage and before any monies are passed over.

The monies paid on the reservation contract are deductible from the final purchase price of the property.

 

Stage Two of buying a property Direct from the Builder

 

Private Purchase Contract (Contracto Privado de Compraventa)

 

This is a long legal contract that will list:

 

·     Both Developers /Builders and the buyers details 

·     A full property description

·     The agreed Sales Price

·     The schedule of agreed staged payments

·     The Buying Terms

·     The time frame to complete the Build

 

A payment equivalent to 10% of the final build cost will be expected at this stage. Again this payment will be deducted from the final payment of the total build price. 

 

NOTE: The 10% payment is NON REFUNDABLE 

 

Stage Three of buying a property Direct from the Builder

 

Completion

 

This is where your property Build Direct from the Builder is complete, and it is time to go to the Notary to sign the Title Deed fro the property.

 

Stage Four of buying a property Direct from the Builder

 

Post Completion

 

You should have a Spanish bank account by this point; you will need it to for all you utility bills for your new property in Spain. The utility companies will not accept payment from overseas bank accounts.

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Exchange Rate: 26/11/2019 1€ = £0.8572

Content Copyright © 2019 Properties For Sale In Spain

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