10 questions you should ask your real estate agent

What is the location like?

The area in which the property is located will determine the price. Is it close to bars and restaurants? Is there a school nearby?

Who is the owner?

Sometimes more than one family member is the registered owner and the agent should be able to show you a mandate to sell signed by all parties.

What is the legal status of the property?

Does it have the ‘Licencia de primera ocupación’ or First Occupancy License, and has all construction workbeen completed and correctly registered.

What is included in the price?

Make sure to you know what is and, more importantly what is not included in the asking price.

Does the property have any debt?

Unpaid taxes such as IBI or community fees can all pass on to the new owner if they have not been paid.

What are the purchase costs?

Stamp duty in Andalucia is currently fixed at 7 per cent for a resale property, for a new build, instead of stamp duty you will pay 10 percent IVA (VAT). To this you need to add lawyer and notary fees.

Are there building guarantees?

A new-build property will usually have a 10-year construction guarantee.

Should I use a lawyer? 

Yes! It will make the process a lot easier and, assuming you find the perfect property you might want to move fast.

Can I rent out the property?           

There is new legislation giving local councils and communities greater powers to limit the number of properties which can be used for short-term rentals so ask.

What are the maintenance costs?

Urbanisations rely on owners paying a community fee in order to maintain the common areas and, the more facilities the higher the fees. So check the costs as you will be paying whether you use the facilities or not.