Before buying a property in Spain, there are many important points to consider. We also bought a finca in Majorca years ago and would do a lot different today.
Before buying, make sure that the seller is the legal owner and that the item is not debt or encumbered. I would definitely request the cadastral extract beforehand. We had the problem that the cultivation of our house was not legalized! I would definitely recommend you invest your money in something less stressing!
In case you are still interested, I advise every foreigner in Mallorca to have a first check by a specialist. After all, an investment in a property is not done every day. Have heard a lot of negative cases.
If you want to make a good use of your money, instead of buying a house you should buy real estate periods.
I bought 3 periods in Majorca 5 years ago and it works really good, we are very happy - you still got the best benefits of buying a house but the investment is worthier!
Sounds great but I know nothing about that. How interesting is this? How could I inquire? Thanks
Much more interesting than a traditional second residence and much less headache!!
And the good thing is we don’t have to always get back to the same place.
There must be various options but the company we bought with is Global Great Hotels. I believe it’s one of the biggest players in Europe but I don’t know about any other name.
Thanks Anne. How can we contact them to have some information? Do you have a phone number or a website?
Have you bought one now? I was just wondering because I am thinking of buying a property too as a second home. Where in Spain do people recommend?
I own a property in Estepona actually. There was a lot of building work out there and we were on holiday and got it cheap. As some of the comments say thought, there is a lot of red tape so you have to make sure you have the right notary. There are plenty of English speaking ones in that area though and they want the investment.
sO, @austin Did you buy a property with Global Great Hotels in the end?
Actually we just didwe went with themreally happy
@austin.wright I have just seen this sorry, good for you!
thanks we are excited to get started already
that's right well I guess its a crazy time and what with everything else going on we're just keeping our heads down
how are things over there with you regards Covid?i think your in the states?
not to be a party pooper but is overseas investment, especillay at this moment in time especially if you are in the US a good idea?
no its a valid question, if a little personal but I guess this pandemic has meant different things to different people and we have adopted the carpe diem attitude in that as soon as we can fly, can get over to our favourite place we will and until then we will invest. It gives us something to look forward to both in terms of vacation and investment so yes we are carpeing us some diem!
this is not the time to rain on someones parade in my opinion
good for you