What are the pitfalls of buying property in Spain?

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

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  • 06/07/2022 at 5:16 PM #121149
    Reuben

      Hi All,

      I’ve heard many stories of the Spanish property dreams turning into nightmares.

      Can anyone tell me what are the pitfalls to avoid?

      Reuben

      12/09/2022 at 5:47 PM #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

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