Many residents of Britain and North Europe are finding the idea of purchasing foreign property a more desirable and realistic goal. Because these properties offer a good level of capital growth, lower airfares and low European interest rates have made buying in countries like Spain more attractive. You will enjoy lots of sunshine and it’s just a short trip to Spain. It may not have been a good idea to buy in Spain in the past, but it can be done more safely if you stick to some general guidelines. Here is your basic buyers guide for purchasing real estate in Spain:

• When considering purchasing property first look to arrange your finances.
  Consider using a Spanish mortgage expert to guide you through the process.


• Before you sign any binding contracts, seek expert legal advice.
  


• Avoid overstretching yourself financially.
• Be prepared for time deadlines to be extended.
  
• Wait until you have the funding in place before committing yourself to a private purchase contract.
  
• Be prepared for the Spanish purchase process, which is different in Spain than in the UK and elsewhere in Europe.
• Make sure you completely comprehend how taxes are incurred depending on the type of ownership status you select If you don?t seek specialist advice

There have been many instances where international buyers have been unable to get the results they seek because they didn’t know what questions to ask. Before you sign a contract, you need to think about the next few questions, and others that you may have:

• Is the property’s land pastoral or urban? What complications can come from buying land that is rustic.


• What costs will need to be taken into account, such as typical attorney’s fees and taxes?


• Are there any licenses in place, such as building licenses or first licenses of occupancy?


• If the property is under a decade old, does it include a 10 year building warranty?


• Is this a result of a foreclosure or direct sale?


• In this specific purchase, will any be under declaration?


• Be sure to ask what extra costs you might be liable for, such as taxes on capital gains, inheritance taxes or income tax.


• Do you need to pay any extra deposits? At which stage of the transaction are they deemed nonrefundable?


• Are there any additional legal costs or fees to be paid?