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Monday, 6 January 2014

Buying A Property In El Campello Makes Sense In 2014

At this moment in time here in El Campello and in many other small towns and villages in the area of Alicante... 

...there is a very big crisis in the property market. Why? - That is easy to work out.... The Council had no idea that an economic crisis was on the cards, and allowed too many building licenses to be granted, and so now we have a glut of unsold brand spanking new properties, mainly apartments, although there are some villas in the local regions of Busot and El Campello too.

This property glut has also lead to problems for people to sell their properties on the second hand market too, and to top it all the banks are making things difficult by only giving mortgages to customers that will buy one of their own private stash of repossessed properties.

So what options would I recommend to purchase a property in El Campello?

Well that would depend on whether you want to purchase a new or second hand property, but in both cases you have the power to negotiate the selling price. For new build options you will have very good conditions to get a good mortgage, although you will need a solicitor to guide you. All of my personal recommendations will be listed at the end of this article. The same solicitor would be able to take care of all requirements for a property purchase including property taxes, notary, tax advice, and making sure it is a properly conducted property transaction with every minor detail being looked into, and explained to you in English.

If you ever require a second opinion, then I am always available for free consultation for anything regarding buying or selling property in El Campello or anything related to living and working in here too. Now moving on to second hand properties, you may find problems to find a mortgage, so you may want to check with your own Uk bank first, though from 2014 the Banco Santander are now advertising 1.98 % mortgages on TV, so that could be a good option.

I must say at this point that I would try and buy privately as your English speaking solicitor will take care of everything, so do avoid high street estate agents in El Campello. Although there are some very professional Estate Agents here, you don't want to be paying their commission if you can avoid it.

Make sure you visit several properties in your preferred area of El Campello, and compare prices. Then offer 20 - 25% less for the property you like most. Then it's a case of getting the lowest price possible, and come to an agreement drawn up before your solicitor. You may have to pay a 10% deposit of the agreed price or maybe a covering charge (€3000 - €6000 on average). Then it is just a question of going to the notary to sign the deeds with your solicitor on the agreed date, and finally moving in to your new home in El Campello.

Your solicitor will be able to give you legal advice about living, working, business implications, health, driving license etc... If you need any other service that your solicitor does not provide you can just contact me and I will find you somebody you can trust to provide any other service. I have been living here in El Campello now for virtually 10 years (27 years in the area of Alicante), and am now dedicating my time to promoting life In El Campello, a real winner for everyone.

Real Estate Professionals In El Campello

English Speaking Lawyer - Alvaro
English Speaking Accountant - Tomeu
Translator (me) - Andrew Edgington

El Campello Property
El Campello Property Videos

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