Buying A Property In Alicante - 10 Important Tips To Avoid Disaster

1) If you are really considering buying a property in Alicante, you will need an English speaking Solicitor that specializes in property and land law. I would suggest you either contact the British Consulate in Alicante, who will supply details of independent lawyers for UK property investors by phoning (+34) 96 521 60 2 or you can contact my own preferential accountant / Lawyer in El Campello (Alicante)... EasyTax

2) Important decisions to make before you purchase a property in Alicante, would be to decide on the area you would like to live in. Rural, in town, by the Alicante Golf course, or by the beach. If you decide on living in town, then you don't really need a car as local transport is excellent especially for somewhere like El Campello.

3) Once you have decided on the area you wish to live in, having taken into consideration, local amenities, schools, hospitals, etc. , just have a look around on your own and then have somebody phone on your behalf, so that you can deal with the owners direct. Avoid Estate Agents, but if you can't, make sure that you know what commission they are charging. In today's economic times, you can get them to as low as 3%, so if you have no other choice then make sure you negotiate the commission rate..

4) Bartering is quite acceptable in Alicante, so always offer less than the asking price. If the neighbourhood of your choice is full of "for sale" signs, then offer at least 20% less than the asking price.

5) Check over the property you are going to buy in Alicante with a fine tooth pick, as any relevant damage can also be considered at the negotiating table.

6) Mortgage options are beginning to become available again in Spain in general, but my tip here would be to get the loan for as long as possible, paying as little capital as possible. It just means you have more money yourself to spend every month. Most banks have English speaking staff, and you will even see some British high street banks in Alicante, including El Banco Santander.

7) You need to register yourself in the Town hall on the Electoral roll known as "El Padron", if you buy a property in Alicante, and also get a NIE number from the Immigration Office in Alicante, which will also act as your fiscal number for tax and employment purposes.

In Alicante Contact me personally for any paper work where interpretation will be required.

8) You will also have to pay a 10% deposit for the property, which is not refundable by Spanish law, should you be the party that retracts. If the vendors retract, then you will be refunded double the deposited amount.

9) When you sign at the Notary, you may have to carry quite a large amount of cash, so make sure that everything is ready for the big day. You will be provided with a translator for the reading of the new property or mortgage deeds by the Notary.

10) The vendor will be asked to pay a 500 euro deposit to pay bills which they are liable to pay for before the date of purchase, and any difference will be returned there after.