Gecko Towers
The sources of information available to the prospective Marbella property owner are virtually endless. Can I recommend that you focus on those objective, “honest broker” and third party pieces written with you, the prospective client, being the sole focus. With this in mind, please delve into our blog to find many and varied gems that will ease your Marbella/Costa del Sol journey
There are a many estate agents based in the Marbella region. Some have a depth of experience that drives a well-deserved and hard won reputation for attentive and effect service. In our experience the “hard sell” of a previous era is a less relevant today. The needs of better market-educated and insightful clients are constantly evolving.
Following a careful discussion as to what you are hoping to find, an understanding of property availability and, after developing a clear route map to achieving a desired purchase, only then should you ask to see examples in your target market.
Before you start sifting through oceans of online property details for your home in the Marbella area, you will need to narrow down your preferred locations and what type of property would be most suitable for your needs.
Many of our clients have enjoyed years of holidays in the region so they tend to be pre-determined as to where they would like to be; in some cases down to individual property developments and even the orientation of the property within the development!
For those who are less familiar with the Marbella area we have developed a simple guide to narrow down the prospects from a clear understanding of the Coast – please see here – Get to know the Marbella region.
Whatever your reasons for seeking a property in the Marbella region, shop around and take advice. I would, respectfully, suggest that you don’t sign up with too many estate agencies for a couple of reasons.
Most estate agents along the Costa del Sol, a few are more focused in the Torremolinos/Fuengirola stretch, or the La Cala/Elviria region or the Marbella/Nueva Andalucia/San Pedro de Alcantara or the El Paraiso/Estepona regions – making them micro region specialists – all have access to a property multi-listing sharing system. This effectively means that aside from those particularly resales – not new and previously owned properties – that an agency has exclusively from the seller, their personnel can show you virtually all of the same properties that are currently available on the market.
Sometimes, and this often depends on the depth of your relationship with the agency, knowing clearly what you want and being in the fore-front of the agency’s personnel’s collective consciousness, as and when they are asked to evaluate a property for listing, they will know whether it would suit you. Prior to adding it to their general listings you may get that 1 in a 100 call. “We’ve just seen a property that we think would be perfect for you….” I have received that call!
We have a number of best of breed real estate contacts as and when you need them. We know them well and have worked extensively with their team. We have been very impressed by their commitment to client service, transparency and fairness.
Aside from being as clear as you can be with your wish-list, your decision is who do you prefer working with? You may well be spending quite a lot of time with the agent and their team, visiting a variety of property, traveling distances in a car and probably stopping for lunch, so finding them engaging as people is pretty important. Does the agent empathize with your expectations, do they listen to your ambitions and do they “get” what you are looking for? There is simply nothing more frustrating than seeing a host of properties that are completely wrong for you for myriad of reasons.
It should be born in mind that the sales commission due to the estate agent, who makes the sale to you, will, usually, be paid by the seller. As the property’s buyer I’d recommend that you should resist any calls to make any contribution towards the sales commission, its an unusual request but into unknown.
The one thing that is currently proving to be a handicap, in some buyers achieving their ambitions of a owning a property in the Marbella region, is the lack of property stock. Much has been purchased and comparatively few older properties are coming back on the market.
To fill the gap between the increasing demand and the outstripped supply, many businesses both large and small, Spanish and international, are progressing with a host of different prospects up and down the coast. So much so, that the old 1990’s joke of what is the national bird of southern Spain? Answer “The Crane” 🏗….. has made a resurgence.
Many of these new development embrace green technologies and are, increasingly, environmentally aware. Once constructed they tend to offer a compelling rental operation often operated from an office located close to the urbanisation. This is a God-send to absent owners seeking to maximise on the year round market opportunities.
As you’d anticipate buying a property “Off Plan” presents a number of key considerations that your Spanish Lawyer (Abogado) will need to advice you of. Such a purchase does involve a deal of faith and trust. You will be placing a not inconsiderable sum of money as an initial deposit against a schedule of payments until the property is completed. Your Abogado will need to consider with you the legal protections available in Spanish law concerning your lodged funds, additional payments and the Bank Guarantees that the developer is obliged to offer you. Careful thought will need to be given as to when the Bank Guarantees mature to avoid any gaps between maturity and legal completion – when you take full legal ownership.
I make no apologies for my enthusiasm for this market and the prospects that are available to those who commit to a property purchase here. Equally, I do understand that at first sight this may appear to be a little overwhelming. That’s the reason people like me and teams at my disposal are here to calmly and carefully provide full guidance.
Should you be interested in discussing the process involved in buying a property in the Marbella region, we would be delighted to assist you. Please contact me to discuss your precise requirements.
Please note that our posts are for general interest. There is no substitute for proper advice tailored to your specific circumstances as provided by a qualified Abogado who is experienced in the application of the Spanish Law.
Nothing contained in this article should be seen or taken as the writer or the publisher providing legal, tax or financial advice. All details have been reasonably fact-checked and all efforts have been taken to ensure that facts are accurate as at the date of publication.
My details: Mark FR Wilkins, during usual business hours on +34 600 343 917 or e-mail me at mark@therightsgroup.com
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