SPANISH VILLAS / PROPERTY / PROPERTIES FOR SALE CASAS SE VENDE 55,000 EUROS

Until 31 October 2008 we have reduced the price of property number 567 to 55,000 Euros. That is a saving of 10,000 Euros on the regular price. This offer is first come first served and only relates to property number 567.

Each Spanish property / villa is for sale for 65,000 Euros for a quick sale.

I am aware of several local estate agents that have identical Spanish properties / villas on the same street for sale for 80,000 Euros to 100,000 Euros - a search on the internet will confirm this (see Mercers, Luzdelsol, Propertunities, Spanish Villa Sales etc). Due to other commitments I have not yet completed the purchase with the builders (I have only paid 50% plus IVA of the purchase price to the builders on each of the Spanish properties / villas). The sale of the Spanish properties / villas is by private contract, which is fairly common in Spain, due to me not completing.

To protect you, the purchaser, the monies (65,000 Euros plus taxes) therefore need to be paid over to a Spanish solicitor. The solicitors will then immediately prepare the papers etc. to transfer the Spanish property / villa into the new purchaser's (your) name. The monies will then be transferred to the builders (the final 50%) and the balance to me, and the keys will be given to the buyer. The solicitor will withhold 10% of the money until the new escrituras / title deed is received in the buyer's name.

The contract with the builders does not allow a transfer before completion - hence the private sale. The private sale process of Spanish villas / properties is much simpler and quicker than what perhaps the above sounds like! Should clarification be required then please get in touch. Spanish solicitors perform private sales of Spanish properties / villas as described above on a regular basis, and in reality the transfer/sale is a seamless procedure. The only downside for the purchaser is that since the initial completion  has to be in my name (even though in reality I would only own the property for probably a few seconds whilst all of the paperwork is signed at the solicitors - transferring ownership to the new purchaser (you)), you will not be able to get a mortgage on the property to complete the purchase - you will need to obtain funds by other means.

Obviously as soon as the paperwork is completed at the solicitors and the transfer of the Spanish property / villa has been registered and you receive your escritura (title deeds) then you will be free to raise a mortgage on the Spanish property / villa.

Over and above the agreed price of 65,000 Euros ono, the purchaser will also be required to pay the following to the solicitors to complete the sale:

7% IVA on the selling price (Spanish VAT), 650 Euros notary fees, 350 Euros land registry fees, and about 500 Euros legal fees.

For the avoidance of doubt the total price payable by you to take ownership of one of the Spanish properties / villas is 65,000 Euros plus IVA plus notary, land registry, and legal fees. From that money the solicitor will transfer the 50% to the builders which has not yet been paid, and then the balance will be paid to me. I have the signed contracts from the builders and also receipts from the builders showing proof of payment to the builders.