Our buying experience in Andalucia

Do you have a query on how to get things done in Andalucia, where to find things, who to call? Find out by posting and hear about others experiences.
User avatar
spanish_lad
Andalucia Guru
Posts: 5951
Joined: Fri Apr 15, 2005 10:13 pm
Location: Alhaurin el Grande since 99

Our buying experience in Andalucia

Postby spanish_lad » Tue Jan 11, 2022 6:25 pm

So after 6 years of looking, having seen many houses, and driving all over the coast.. we have finally found something.

We found a house on idealista, that we knew the area of.. so I looked it up on google maps and found it. Its 4 bedrooms, 120m2. Lounge is 30-40 m2. it has about 1000m2 of land

We decided to go before work one day and have a look for it, and as we pulled up outside around the 25th of november we saw there was a car there.. some people inside throwing furniture and stuff into the "garden"

We spoke to them, it turns out they were the owners son and his wife, clearing and cleaning for sale. The house has been "not lived in" for at least 3 years, although they had visited and used it as a weekend getaway with the kids and had bbq´s etc. A campo house.

They were expecting the agent, with a couple, to look around but they hadnt turned up yet, so they invited us inside to have a look and a coffee, which we did. We got their number and went to work.

We thought about it all day, and decided to speak to the agent, to see if we could find out some more information. So we drove into Malaga and found the agent that had it listed.

The usual blah blah "lots of interest" blah blah .. we´d heard it all before. But then she had a phone call about the house we were asking about, and she let out too much information.. "yes yes, it has a nota simple.. of course you can get a mortgage if you have a good profile etc etc oh, you want to see it ? I´ll call you back in 5 minutes..."

Totally random, but she didnt know that we were coming so theres no way it could be a set up.

She asked us.. and that was it.. I asked for their bank details and put the minimum deposit of €3000 by transfer straight away, and emailed her the screenshot.

that was it, we walked around the house for 5 minutes, found out that it has paperwork so we put a deposit on it. Scary / stupid maybe... but its 10 minutes from the airport, 3 minutes from the a357, 5 minutes from 3 petrol stations, 10 minutes from Lidl ... Position wise, It couldn´t really get much better.

On the next visit she explained the process, and that the avaliable mortgage is €110,000. The payment would be a little over €300 a month, and the next step is to get it valued. So they arranged that, we paid for it, another transfer (this time €484) just like before and we waited.

Two weeks went by, and nothing happened, so we called them. The had heard nothing, so they said they would call, and then call us back to let us know.

She called back and told us that the house had been valued low, but wouldn´t say why. The Tasador (valuer) has offered to return the money, so we filled in the forms and sent them off.. then waited. She said we could try another tasador, to see if they give a different answer, if we want we can pay that now... we said no, we´ll wait for the refund.. it was all sounding a little .. fishy ?

Then it was christmas, so obviously we heard nothing. I recieved the refund into my account on the 31st of december. So i paid the new tasador company on the 1st of january, by transfer, it was cheaper this time, at €425... and we waited.

We recieved a phone call yesterday - the 10th of january.. that the valuation had come back at €138,000 so in theory, the maximum mortgage that we can get is €110,400 (80% of the valuation). The asking price on the property is €120,000 - a very good price for the area its in. Admitedly, its not perfect by any means, it does need some work.. but it should be no issue at all.. little by little.

We are now waiting for the bank to call us, and give us a password for their online banking etc, and to digitally sign paperwork with the bank.

Then we have to put the rest of the money into the account that they have set up for us, its going to be about another 15,000 € apparently.

To break it down, if it all goes to plan :

the asking price is € 120,000. The valuation was €138,000. The mortgage at 80% of that will be €110,400. The house has a nota simple. It is on the catastro. It does NOT have an AFO. It does NOT have an escritura (that we have seen so far) The mortgage has been pre-agreed, and the bank are aware of everything. It is Unicaja.

We have paid, so far, €3000 deposit and €425 for the valuation. We didnt argue the asking price, or make an offer. its a good price. Everything else is paid by the bank, but we have to put the money in the bank first, ie; they take care of all the payments.

The total that we still have to pay is €14,465. Out of that, the comission to the agent is 7865 (6500+iva) and the other 6,600 is fees / transfer / gestoria etc.



According to the agent, now that christmas is out the way, we should have the keys before the end of the month. :shock: :crazy: :wtf: :wtf: I cant believe it.. after 6 years of renting, we will finally own our own place. We´ll be spending half the money monthly.. and be able to paint the walls whatever colour we want, and put up pictures and shelves where we want.. and if something breaks we wont feel scared to call the owner ... :cry: We are so happy its unbelievable..
Alhaurin el Grande since ´99, working at the airport since 2011.

Pamela1
Andalucia Guru
Posts: 2138
Joined: Wed Jan 08, 2014 3:30 am
Location: Co Durham/ Granada Province

Re: Our buying experience in Andalucia

Postby Pamela1 » Tue Jan 11, 2022 7:58 pm

Congratulations spanish_lad, it sounds like you have found what you were looking for. I wish you all the best...

User avatar
gerryh
Andalucia Guru
Posts: 7886
Joined: Sat Jan 12, 2008 6:17 pm
Location: Cajiz, Malaga

Re: Our buying experience in Andalucia

Postby gerryh » Tue Jan 11, 2022 8:06 pm

Good luck.
Hope it all works out OK for you. :thumbup: :thumbup:
Cheers
Gerry
Gerry Harris

User avatar
spanish_lad
Andalucia Guru
Posts: 5951
Joined: Fri Apr 15, 2005 10:13 pm
Location: Alhaurin el Grande since 99

Re: Our buying experience in Andalucia

Postby spanish_lad » Tue Jan 11, 2022 8:49 pm

Sorry, it was alot longer than i expected, i just got carried away when i was writing !

Its not so much "look at me look at me" .. but to explain the costs and things involved with the purchase and to answer peoples questions if any should arrise.
Alhaurin el Grande since ´99, working at the airport since 2011.

Pamela1
Andalucia Guru
Posts: 2138
Joined: Wed Jan 08, 2014 3:30 am
Location: Co Durham/ Granada Province

Re: Our buying experience in Andalucia

Postby Pamela1 » Tue Jan 11, 2022 9:02 pm

Relax spanish_lad, you didn't come across as " look at me" I enjoyed reading your post, it's good to see positive news and stories..I think the detail in your post will interest quite a few readers. :thumbup:

User avatar
costakid
Andalucia Guru
Posts: 5296
Joined: Sun Feb 13, 2005 11:55 am
Location: malaga este

Re: Our buying experience in Andalucia

Postby costakid » Tue Jan 11, 2022 9:21 pm

it was a long post and I was expecting bad news at the end. Glad it was good news and I wish you well. Nothing like owning your own place.

User avatar
spanish_lad
Andalucia Guru
Posts: 5951
Joined: Fri Apr 15, 2005 10:13 pm
Location: Alhaurin el Grande since 99

Re: Our buying experience in Andalucia

Postby spanish_lad » Tue Jan 11, 2022 9:52 pm

costakid wrote: Tue Jan 11, 2022 9:21 pm it was a long post and I was expecting bad news at the end. Glad it was good news and I wish you well. Nothing like owning your own place.
after many disappointments over the 6 years, it might well be coming together.. fingers crossed !!!
Alhaurin el Grande since ´99, working at the airport since 2011.

User avatar
chrissiehope
Andalucia Guru
Posts: 3571
Joined: Sun May 07, 2006 7:52 pm
Location: Cheshire & near Antequera

Re: Our buying experience in Andalucia

Postby chrissiehope » Tue Jan 11, 2022 11:26 pm

¡Enhorabuena !
Alexandr for President (Squire for PM !)

Outside of a dog, a book is a man's best friend.
Inside of a dog it's too dark to read (Groucho Marx)

olive
Andalucia Guru
Posts: 4076
Joined: Wed Oct 12, 2005 7:13 pm
Location: Poniente, Granada

Re: Our buying experience in Andalucia

Postby olive » Tue Jan 11, 2022 11:33 pm

Yes, good luck. Hope you are soon in your own place.

katy
Andalucia Guru
Posts: 13537
Joined: Thu Jun 24, 2004 3:45 pm

Re: Our buying experience in Andalucia

Postby katy » Wed Jan 12, 2022 12:43 am

That’s wonderful SL so pleased for you. You deserve it. Lovely news. When’s the housewarming
:lol: :thumbup:

User avatar
IreneD
Andalucia Guru
Posts: 2280
Joined: Wed Oct 15, 2008 7:35 pm
Location: Canillas de Aceituno

Re: Our buying experience in Andalucia

Postby IreneD » Wed Jan 12, 2022 2:20 am

Congratulations, SL, I'm really pleased for you. I hope you'll be very happy in your home

1bassleft
Resident
Posts: 460
Joined: Sun Nov 05, 2017 7:00 am
Location: Benalmadena Costa

Re: Our buying experience in Andalucia

Postby 1bassleft » Wed Jan 12, 2022 2:25 am

As others have said, it's nice to read of a good outcome. Your post may well be of use to someone searching the forum, but it doesn't have to be - I also wish you well.

elusive
Andalucia Guru
Posts: 3076
Joined: Sat Apr 07, 2012 11:49 am
Location: East of Malaga

Re: Our buying experience in Andalucia

Postby elusive » Wed Jan 12, 2022 9:18 am

Congrats! Hope all goes well!

qe2ex
Andalucia.com Amigo
Posts: 124
Joined: Mon Apr 01, 2019 10:36 am
Location: Earth

Re: Our buying experience in Andalucia

Postby qe2ex » Thu Jan 13, 2022 5:01 pm

Congratulations. :-)

malagaPG
Newbie
Posts: 1
Joined: Sat Aug 21, 2021 3:57 pm
Location: Campo near Antequera / India / London

Re: Our buying experience in Andalucia

Postby malagaPG » Sat Jan 15, 2022 8:03 am

Congratulations, But I would double check that they will definitely lend you 80% of the valuation. Normal lending practice globally (maybe not in Spain?) is a percentage of valuation or purchase price, whichever is the lower.

Also, be aware that the 8% Stamp Duty is not on the purchase price, but what the think the value should be - This cost me an unexpected extra €6,000!

markwilding
Andalucia Guru
Posts: 7493
Joined: Fri Aug 14, 2009 11:02 am
Location: Bilbao Spain

Re: Our buying experience in Andalucia

Postby markwilding » Sat Jan 15, 2022 10:10 am

Great post,
I read it over my tea and toast this morning so not too long. It’s a pity we don’t get more posts that show that dealing with this kind of stuff is less daunting that people imagine if done properly.

Good luck!

User avatar
spanish_lad
Andalucia Guru
Posts: 5951
Joined: Fri Apr 15, 2005 10:13 pm
Location: Alhaurin el Grande since 99

Re: Our buying experience in Andalucia

Postby spanish_lad » Sun Jan 16, 2022 1:07 am

malagaPG wrote: Sat Jan 15, 2022 8:03 am Congratulations, But I would double check that they will definitely lend you 80% of the valuation. Normal lending practice globally (maybe not in Spain?) is a percentage of valuation or purchase price, whichever is the lower.

Also, be aware that the 8% Stamp Duty is not on the purchase price, but what the think the value should be - This cost me an unexpected extra €6,000!
The Estate agent has said that it will be 80% of the valuation. I've told them that we can not continue with the purchase if its anything less, and they said not to.worry.

I'm worried about this too, I've read the same thing. There's a big difference between 80% of 138 or 80% of 120.

We are still waiting for the bank to call us.and confirm everything, they have to give us a password for the online banking apparently, then we go to.the bank.and sign the paperwork, if we agree to the online forms.
Alhaurin el Grande since ´99, working at the airport since 2011.

maureenscot
Resident
Posts: 661
Joined: Mon Jan 25, 2016 5:37 pm

Re: Our buying experience in Andalucia

Postby maureenscot » Sun Jan 16, 2022 2:46 am

keep us posted as things progress. Best of luck

User avatar
Wicksey
Andalucia Guru
Posts: 4919
Joined: Mon Sep 20, 2004 1:21 pm
Location: Axarquia coast

Re: Our buying experience in Andalucia

Postby Wicksey » Sun Jan 16, 2022 11:39 am

I do hope it all goes through for you SL. It sounds like it's in an ideal position for you and a bargain too.

User avatar
spanish_lad
Andalucia Guru
Posts: 5951
Joined: Fri Apr 15, 2005 10:13 pm
Location: Alhaurin el Grande since 99

Re: Our buying experience in Andalucia

Postby spanish_lad » Mon Jan 17, 2022 11:19 am

We have had a call off the estate agent - the bank should be calling us today. :eek:
Alhaurin el Grande since ´99, working at the airport since 2011.


Who is online

Users browsing this forum: Bing [Bot] and 6 guests