Planning to buy a property in Javea? It is a lovely location situated on the eastern coast of Spain. The town has a completely diverse culture, and it is home to a million people. That being said, it is an ideal location to buy properties. However, there are a few things that you should keep in mind before finalizing any deal.
Initially, Javea was home to retired people from across the world who wanted to enjoy amidst the relaxing backdrop of the place. However, now you get to see young families living at this destination as well. This beautiful place features numerous beautiful lakes and forests and has a lot to offer to the visitors. Besides, nothing can beat the amazing lifestyle that the natives of this place lead. Javea is the best choice for people who work from home, are financially independent or have an exciting and profitable business idea that will prosper here. If you are also looking forward to buying property here, check out http://valuvillas.com for the best deals.
However, make sure not to shift from your homeland to Javea, for a job, because the job market here is very competitive, and requires a basic understanding of the Spanish language. However, if you plan to shift to Javea after retirement, there is no looking behind, just go for it! Also, you need to be medically fit and financially independent before you decide to shift here.
Steps To Book A Property In Javea
After weighing the pros and cons, if you have concluded that Javea is the destination where you want to stay, know what lies ahead. The process of buying a home in Spain is not easy, and you need to get there step-by-step.
Stay Updated with the Real Estate Market of Spain:
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You should keep an eye on all the new properties that get listed on several property websites. Also, stay updated with the overviews of the property market so that you know what is going on in Javea’s property market. In case, you are opting for a broker make sure to choose one who is genuine and reliable. A reliable contractor will have a website with honest reviews on it. Make sure to check it before going forward with that contractor.
Real Estate Agents Will Want You To Buy Expensive Properties:
Source: zillow.com
Since Javea does not have a prosperous job market, the real estate agents rely solely on the commissions earned by property sales. As a result of which a majority of the real estate agents will show you properties on the higher end. Hence, make sure to specify your budget beforehand. Also, make sure to connect with the previous clients of the agency and tally the property prices with them. Also, make sure to negotiate and then mutually decide upon the property prices.
Connect with a Legal Representative: A fiscal representative of a property lawyer will help you understand property law better. They will advise you on the tax liabilities, local laws and all other crucial regulations for the type of resident you are. They will make you understand the tax liabilities according to what type of resident you are. If you are not a native of Spain, there are high chances that brokers will try to loot you. Thus, it is of utmost importance to be aware of the laws and proceedings of the place. This will ensure that nobody will be able to take advantage of your naivety.
Obtain an NIE Number:
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The NIE number is known as the Spanish Tax identification number that is given to foreigners. You can obtain the identification number either from the lawyer or the fiscal rep you hire. A NIE number certificate has a validity of three months which means that you need to renew the certificate after every three months. All the property purchases that you make in Spain will be linked with your NIE number. The Government will further link all your tax proceedings with this number.
Consider Opening a Bank Account in a Spanish Bank:
To complete a purchase transaction of a Spanish property, it is mandatory to open an account in a Spanish bank. For the direct withdrawal of the amount which you need to pay for the property, a Spanish bank account is necessary.
Sort Out The Finances:
The tax proceedings in Spain are quite different as compared to the rest of the world. To ensure that you do not land in any type of trouble, it is advised that you seek professional help to help you deal with your finances and mortgage loans.
You should bear in mind that if you are buying a property with a mortgage, you will have to pay extra costs. Also, if you are buying a property in partial finance, you are not considered a cash buyer. Thus, it is recommended that when you are working with a real estate agent, mention your finances at the beginning, so that they are aware of the vital information.
Connect With A Fiscal Rep:
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A fiscal rep will be there for you to help you throughout the buying process, and they will help you understand the buying procedure. They will serve as a guide and explain every step of the way. The legal formalities in Spain are strong and you will have to abide by them to ensure that the property buying procedure goes on smoothly.
Final Word
The property buying journey of a foreigner starts from the point where they have to search the web for a property that suits their preferences well. Simultaneously, you need to also look for a genuine real estate agent. Once you have found the right real estate agent, you will have to pack your bags to fly to Javea.
Picking the right property is a tedious task, and you will have to start hunting for homes along with your agent. When you finally find your dream property and plan to buy it, then you will have to consult a legal representative regarding further procedures. We hope the above mentioned points will help you find your dream home.
