- Information
- Costs
- Financing
- Agent
- Search
- Proposal
- Closing
Services to buyers
Ready to buy? Do you already know what you want?
Whether it's the first time you buy, or have bought before, you have to ask yourself why you want to buy. Are you considering moving to another area because of a lifestyle change, or is it a possibility and not a necessity? What would you like your new house to have, that does not have the current one?
Surely you will have your reasons, but it is very important, before starting the process of searching for a property, to be clear about the needs that we want to solve, the wishes we want to fulfill and the aspirations that we intend to achieve.
Based on all this, let's start by developing a housing model, either in the center of the city, in the periphery or in some residential development. Always seeking to define areas and characteristics with the greatest possible precision, as well as establishing a price range.
With this information you can start the search process, something you can do for yourself simply or counting, totally or partially, with the help of a professional. A professional, of course, will save you time and money.
What expenses will I have?
Agree. So you have already decided that being an owner compensates in the long run, but there are some expenses that you will have to know and that will depend on the price of the property.
Notary, it is where the purchase document of the dwelling is raised to public, what is normally known as the deed of sale. It is an obligatory step to be able to register it in the Land Registry.
Tax of asset transactions and documented legal acts, it is the tax that is paid when the transmission of the property takes place, (VAT in the case of the housing of new construction to release).
Property registration, it is where the deed of sale has to be presented to register the property in our name in the public registry, once the Tax on Patrimonial Transfers and Documented Legal Acts has been paid. This is a fundamental process to preserve our property in front of third parties.
Many times all these expenses are estimated between 8% of the price of housing and 16% if we have financing costs.
The foundership
The most common is that when buying a house you need financing, especially if you buy it for the first time. According to specialized magazines, eight out of ten buyers finance their purchase, although this figure varies depending on the credit policy of the banks at each moment.
In order to grant a mortgage, the financial institution is based on the real guarantee, that is, the appraisal value of the property to be purchased (% of financing) and the buyer's ability to pay, that is, the income it has (capacity of indebtedness).
The most usual is to grant between 75% and 80% of the appraised value, as long as the quota that goes out to pay does not exceed between 30% and 40% of indebtedness for the buyer. Based on these data, in some cases it will be possible to negotiate and obtain up to 100% of the appraisal value in some cases.
The most difficult thing is to know, according to your economic situation, which financial entities can grant you the financing and, among these, who can grant you the most favorable one for your interests. At this point, it is important not to be confused by the requirements of linking the mortgage to other financial products, normal practice in credit institutions.
Before making an offer for any property, it is essential that you know your real possibilities of getting adequate financing. It is highly advisable that you have some prior approval as this can help you in negotiating with the owner.
Indeed, the owners value very much that the people who are interested in their property will not have problems later with financing, since this will depend on the sale.
We will help you find the best loan through our financing department, as we have professionals with extensive experience in this area.
The real estate agent
Do I need an agent?
Buying or selling a property is somewhat complex. At first glance it may seem that it is enough to look at a series of magazines and search the web to find the house you are looking for at the right price.
But one of the rules of the real estate market is that each property is unique. No two houses are the same, even two models that look identical on the same street, it turns out they are not.
The houses are different, and also the contracts, the financing options, the prices and the conditions to be negotiated, the registration data, the notary information, etc. This is where it makes sense to work with professionals who know their work perfectly.
When buying a home, something that will surely be one of the most important investments we make in life, you should not take unnecessary risks. You do not have to gamble on it. Everything has to be perfectly controlled and to know at every moment what is being done.
If I do not use an agent, do I save money?
It is a mistake to think that buying through a real estate agent is going to be more expensive. A good agent manages to achieve your purpose successfully, saving you time, money, complications and most importantly, risks. A good agent selects the best properties in your area and gives you a series of services that you should evaluate to weigh the value they give you and make a decision accordingly, so do not forget that you are playing a lot in buying your house.
When buying, do not play it, trust professionals.
We start?
Come on!Looking for your house
Every year thousands of new and used homes are sold. There are no alternatives, but when there are so many, the challenge is to find what adapts to your needs.
The housing market is complicated because those that are for sale are always in motion.
If we could have a complete list of all at one time, this list would be obsolete in a matter of minutes, since new homes could be sold and others sold.
Housing search strategy
Each of us is different, and that is why it is so important to make a list of all the things we want in a home. Consider variables such as price, location, size, services, (things like swimming pool or very large kitchen) and design (one or two floors, old, modern, etc).
The next thing to keep in mind with your priorities. If it were not possible to get everything you want for that price, what are the most important things? For example Would you accept fewer bedrooms in exchange for a larger kitchen? More distance to work in exchange for more land and less price?
We will sit down and analyze your objectives and your price range. When we have a list of properties to visit, you can see the ones that most interest you, and reduce the list to your top priorities. In this way, you can start your search without pressure. Then we will make the appointments and visit the properties together in person. It is when you can really start comparing one house with another. We will have selected the best available, so do not be surprised if the first or second ends up being your absolute favorite with our real estate company, you will discover the difference between searching and finding.
The purchase proposal
After the hard task of looking for housing we finally find one for which you decide the most critical moment arrives "The negotiation".
The normal thing is to try that the owner accepts a series of requests that surely you will do, like for example, that you adjust more the price, and it is in this point where more importance has the figure of the mediator with experience, that is to say, a person that you help to achieve your pretensions but do not put the operation at risk: do not forget that the objective will be to obtain the best possible price and be able to adapt to other conditions but the result has to be to be able to buy the home.
On many occasions when the buyer and seller feel alone to negotiate, the agreement is not usually closed because one party tries to take advantage of the other and the negotiation is broken.
After having gone through the entire search process and finally selecting the home, you should not take the risk of not reaching an agreement with the owner: remember that the result has to be to buy the house you have selected and this It will always be much easier with a professional mediator.
Someone who knows how to approach positions between two parties that apparently have conflicting interests will help a lot to reach an agreement.
Remember that in a negotiation, there is not only the price factor; there are also other equally important conditions such as: date of deed, delivery of keys, furniture, subrogation of the loan, etc.
Finally, point out that in our Agency we ask the buyer and decided to make a written offer accompanied by 1% of the amount offered, and where the DNI and the signature of the bidders.
The art of doing good business is based on having a good intermediary.
The closing
The private contract
At this point it is especially important to know what documents we should use in order to formalize the parties' wishes in writing.
The parties must first know the different documents that can be used to formalize the agreement and the differences that exist, for example, between the criminal, penitential and confirmatory.
What must be avoided is a possible conflict in the future for not having clarified the interpretation of the agreement reached.
In an operation in which you as a buyer do not have to assume any risk, it is a temerity to formalize a contract of sale without the advice of a professional. Formalized the contract and "only" is to process the mortgage (if necessary) and sign the deed in the notary.
Do not be nervous, quite the opposite; It's the beginning to get the keys ...