Category: Real Estate

Mortgages of Property in Spain

July 28, 2017

he mortgages the property in Spain is a common source to access a property. Buying a property in Spain is a daunting task due to high property prices unless you have enough saving to deal with the whole payment. It is necessary to apply for a loan or credit that will normally be secured by a mortgage on the purchase of a property.

The Procedure

ü Need to choose a bank for mortgage

ü Personalized information file (Ficha de Informacion Personalizada FIPER)

ü Provide the source of provision of funds

ü In case of already committed to a bank, property to be valued report from an appraisal company

ü Binding offer (Oferta vinculante) issued by the bank

ü Signing a deed before notary

Note: It is advisable to hire an administrative manager to look after the whole process in this regard.

Mortgage Costs

You have to bear some extra expenses to mortgage a property in Spain. Common expenses in this regard are stated as under.

ü Notary

ü Mortgage taxes

ü Land Registry

ü Appraisal of Property Fee

ü Administrative Management Fee

ü Insurance Fee

ü Bank Processing fee

Besides this all, you must keep an eye on the following factors too if you decided to mortgage a property in Spain.

Interest Rates

The interest rate is the ‘price’ charged by banks for giving a loan. This interest is calculated on a percentage or rate on the outstanding amount. Banks in Spain are free to set the interest rate they wish, although they tend to reduce it if the mortgage has good guarantees (for example, being on the primary residence) and if the amount is less than the value of the mortgaged property. The interest rate may be fixed or variable, as is held constant or not over the life of the mortgage.

Borrowed Amount

Usually, banks in Spain can grant mortgages in Spain up to 80% of the appraised value of the property. However, this can be variable because of various factors like the adoption of additional guarantees, your financial capacity, whether it is the primary residence or other financial debts.

In case you choose a variable rate for the mortgage a property in Spain, you should be extra cautious and ask for a lower amount, which allows your borrowing capacity, since a rising on interest rates may cause an increase in periodic installments in the future.

The Terms and Conditions for Mortgage

It is very difficult to obtain a mortgage in Spain if you have already crossed or nearby the age of retirement.

For the larger amount of money, the repayment term of mortgages in Spain is usually for a long period of time. In some cases, it may reach the limits of over 40 years.

In addition, you should consider whether you are interested in mortgages that are offering more favorable interest rate, in return for your engagement to the bank, in the form of insurances (home, to guarantee payment in case of death or long-term unemployment, permanent disability, etc.) and some other products.

home inspection

Preparing The Home For The Holiday Season With Home Inspection

July 18, 2017

Autumn is here and serves as a transitional winter, in our case for Thanksgiving and Christmas. It is time to make a transition in our home as far as decorating is concerned. However, before thinking about decorating, we must begin with a thorough cleaning of the home. Here we share suggestions as a “preparation guide” for the coming season:

In the kitchen area the cleaning of the cabinets, the cupboard, the refrigerator and refrigerator is a must. A clean and organized cupboard will make it easier for relatives to help prepare the dishes for the holidays.

As a general rule we must get rid of what is damaged or, what is not needed, and fix or replace what is damaged in the home.

To make the visit of relatives who spend the night in our home a pleasant; we must make sure we have clean pillows, sheets and towels in good condition. It is also time to clean or retouch interior or exterior paint if necessary.

As far as decoration is concerned, after cleaning the windows and windows, it is time to change the light curtains that we had put for the summer time by the already clean ones that we had kept. If you do not usually make the change of curtains, then clean those you have and place them again. If you want to know about Commercial Property Inspection visit Commercial Property Inspection Tampa

Before making changes to furniture and decorations, you should:

Clean the windows and the screens.

Shake or clean curtains or any window treatments.

Pick up the “closets” or the wardrobe.

Clean the lamps and walls.

Change the batteries of the smoke detectors.

Check the appearance and cleanliness of furniture and carpets.

Clean the exterior of the home: we must replace diseased plants – if any – and pay for them.

The accessories and summer cushions that we had placed so far must be changed by some who have warmer colours like yellow mustards, oranges and browns.

It is a good time to use tablecloths and decorate the table with grandmother’s dishes, with dry leaves, candles, pumpkins and wood branches. If browns and oranges are not your colour, use a less traditional combination using the greyish blue colours combined with yellow post and silver or bronze as metal.

If you want or need to buy a new furniture is the ideal time as the special furniture and home equipment begin. Always remembering that as long as you can, a quality furniture is a good investment. It is also the time to prepare for the celebration of Thanksgiving and the arrival of visitors and family members for the purpose of celebrating and sharing. Therefore we must prepare our home and the environment to enjoy the maximum of them.

May this fall season serve as a preamble for Christmas where metallic colours take centres stage in the decoration of the home?

How & Why To Invest In Real Estate Overseas

May 27, 2017

When you’re looking to buy real estate, it’s important to think of what people with money want to buy. There are tons of different options out there, but with people wanting to travel overseas, especially when they get older, it’s hard to find homes where you’ll make the most amount of money. If you begin by buying overseas, a great thing to consider is that it’s a great way to diversify. However, there are a few things you should consider before buying overseas.

Real Estate

Buying home overseas can sometimes be difficult if you have no experience handling business in the country that you want to buy in. However, if you do preliminary research and understand everything you need to do for that particular country before making the buy, you’ll be far better prepared to deal with the challenges and roadblocks that may come up later. You’ll want to understand that you need to make sure that you’re getting everything you need out of your future purchase.

Not only is the house and it’s foundation important to understand, but it’s also important to understand the dynamics of the city you’ll be buying in. Just like you would know all the local information before buying a house where you live, you’ll also want to know everything that comes with a house overseas. This is important for understanding the kind of buyer that you’ll be needing to sell to or promote your house towards.

If you need cheap flights to get the information on the places that you’ll be buying and the cities henceforth, then a great idea is to shop at Orbitz so that you can save money and have less headaches when it comes to your flights. Making necessary trips and understanding the dynamics of the places you’ll be buying and the people you’ll be saving to is important to successfully selling the home.

real estate

The 10 Real Estate Tips for Successful Investing in 2017

May 18, 2017

With the market in full process of normalization and stable prices, 2017 has all the ingredients to mark a milestone in the real estate market after years of hardship. Investment in real estate has ceased to be the exclusive preserve of large national and international funds and has become attractive to the small and medium-sized investors, who have regained their purchasing power thanks to the opening of credit by banks.

Of course, it is not gold everything that it seems and that is why the General Council of Schools of Real Estate Agents of Spain has drawn up a decalogue of recommendations to carry out a real estate investment with success in the year that has just begun, already Whether to buy a home, a place or a house to rent and there is good income of realtor tampa fl.

A member of the General Council of Real Estate Agents’ Colleges and president of the Valencia API Council, explains that it is very important to get away from the rush and make a very well-thought-out investment . “We are talking about operations that move very important economic amounts, so we must carefully study all the factors before buying,” he says.

In addition, he does not hesitate to ask the prospective buyer “not to be emotional, but rational” and encourages to analyze “every aspect that may affect future profitability, such as price, comparison with other neighborhoods or if the type of property is adequate for the rent claimant that exists in the area.”

Here are the 10 real estate agents’ tips for successfully investing in real estate in 2017:

  1. – First, investment in residential housing is usually more profitable than investment in commercial premises or offices in smaller cities, although this second option is more attractive in large population centers.
  1. – Choose a good area with revaluation prospects, as it is the fundamental factor to make a successful investment. The location of the house is the key factor, since it is ideal to be in a dynamic area, modern and equipped with all services (green areas, shops, public transport, educational centers …).
  1. – It is essential to study carefully the expectations of rent or sale in the area, depending on whether the investment is long or short term, respectively.
  1. – In the case of betting on an old house, it is necessary that the purchase price is sufficiently low and the reform affordable , so that it is possible to obtain the desired profitability.
  1. – It is advisable to invest in an area within the same nucleus of population in which you reside. In this way, minor issues can be managed personally. In the case of major problems, it is necessary to leave them in the hands of the expert, i.e. the real estate agent.
  1. – The areas near university centers and the neighborhoods of expansion of the cities have a high guarantee of success when acquiring a house for rent.
  1. – It is very important to take into account aspects such as the number of bedrooms, the availability of elevator and garage , the age of the house, its general condition, orientation or sunlight received and whether the area is quiet or noisy . A house in good condition, perfectly equipped and with good lighting has many more possibilities to be rented or sold.
  1. – The buyer is facing one of the best moments of recent history to obtain a mortgage loan under advantageous conditions due to low interest rates and the mortgage war unleashed. It is necessary to consult as many banks as possible and negotiate to obtain the best credit offered by the market.
  1. – It is necessary to avoid investing in communities or urbanizations where the community expenses are very high , are distributed among a few neighbors, or have luxury services, as it represents a significant reduction of profitability.
  1. – To ensure the success of the investment, especially among investors who are not experts in the sector, it is advisable to have the advice of a Real Estate Agent. This professional is an expert in the area in which he wants to invest, he will help avoid unnecessary risks and will allow completing all the real estate operation without mishaps and in the desired term.

For more information please read this