Reply To: What are the pitfalls of buying property in Spain?

Spain Buying, Moving, Owning & Living Overseas What are the pitfalls of buying property in Spain? Reply To: What are the pitfalls of buying property in Spain?

#121798
Freddy22

Here are top ones

  • Failing to get your registrations in place before the buying process – NIE number, Spanish bank account
  • Not doing a proper job researching the property
  • Understanding ALL the costs involved in buying a house and beyond
  • Failing to understand the contracts
  • Proper checks on the legal status of the property eg illegally built
  • Setting up an account with a currency specialist – a ridculous number of people lose a tonne of money to bad exchange rates

Using recommended experts will significantly reduce the risks eg a good independent lawyer, agent and currency specialist, but you still need to some work yourself.

Best of luck!

Freddy