|
How do I go
about researching and deciding? I find the range of properties
available to be quite bewildering and choosing one is an important
decision.
Our properties are set out in categorised listings (villas, apartments,
townhouses, etc.)
All are arranged in price order.
Start where you think
best. Every Moraira property description has link to place the
property in your short list.
You can add and delete in order to establish your short-list.
If you need further details about a
particular property then there is resister interest form on every
Moraira property description.
If you prefer we will send you a list of
properties that match given parameters. To request this list we have
a general Moraira property enquiry form.
PLEASE NOTE: Finding the right
property can be a frustrating business. Good, clean properties, at
the right price only remain on the market for a few weeks. Many
buyers have their ideal property sold "over their heads".
The solution is to first visit and view with us so that we have a
fair idea about what you are looking for. The, if you don't find a
property on the first visit, we will put you on a waiting list. As
soon as something likely comes along we would let you know, often
even before the listing is uploaded.
The only problem then is that you have to get here quickly.
Your Moraira property purchase could be a life-time on off so it
would make sense to go to a little trouble. With such a variety of
cheap flights the expense is, relatively, not an issue.
What do I need to know about Moraira-HOMEFINDERS?
Moraira-HOMEFINDERS is part of the
VillaServers Moraira Group. To be precise -
M J King (X-0161385-V) t/a -
Villa Holiday Services
Camino del Campamento 128
03724 Teulada-Moraira
Spain
VHS and it's predecessors have traded
from the same address in Moraira since the 1970's and are, or have
been, involved in all aspects of Moraira real estate and associated
services. For Further information please visit the following
websites -
Moraira-HOMEFINDERS.com - You are here right
now.
VillaServers.co.uk for
villa holidays in Moraira
and owners rental services.
Moraira-Info.com - our
local advertising info and
portal for Moraira with the Business Directory of Trades and
Services.
<BACK to Top>
Why should I trust the Moraira-Homefinders?
This website is
designed to provide an information service for property buyers.
VillaServers (Villa Holiday Services) is a
Moraira-based company specialising in villa management and tourist
renting.
We have been trading in Moraira since the 70's and have helped 100's of clients
buy and sell their properties, have managed and rented them and
assisted with renovations and improvements.
Consequently, you should trust our judgement
and the help and advice
offered (especially in these FAQ's), and the guidance of our
Moraira Property Consultants in selecting and viewing properties.
Please note that we
insist that you employ a qualified professional to act for you.
You could ask why you should trust
Moraira-Homefinders to arrange
your Viewing Trip - please see the next FAQ.
<BACK to Top>
Why should I
use Moraira-Homefinders to organise my Viewing Trip? Why no go on a
normal Inspection Flight or make my own way?
Our inspection trips are arranged, just like
any other holiday, by the VillaServers Holiday Consultants.
Normally, flights, accommodation and a hire-car are included and you
would be expected to pay for the package. Nevertheless can
most certainly put the whole package together for you at minimum cost and
with the least inconvenience.
You are free to visit any Moraira agents or
developments you choose. In fact, if you have not made a prior
appointment with us we may not be able to show you around.
If you purchase a property from
Moraira-HOMEFINDERS as a result of your Property Inspection Trip then
part, or all of the cost will be refunded.
If you go on a Normal Inspection
Flight you are tied to just one company. That is not to say that you
cannot view other properties (except that they might make this very
difficult for you) but, of course, you would not get your costs
rebated if you purchased elsewhere.
Currently there are so many
"agents" selling properties in the Moraira Area it would seem that
"every man and his dog" were doing it and you might find that those
you elected to meet were a complete waste of time or showing you
properties advertised elsewhere at an inflated price.
<BACK to Top>
How do I know that the Developers and Agents have not increased
the asking price to cover the cost of the Inspection Flight rebate?
That
is exactly the point! Overseas
Property Agents often charge the Developer or Agent a fee of around
3% on a successful sale but sometimes even more.
The cost of the Inspection Flight Rebate has to come from somewhere
and most Moraira Agents and Developers have to increase the asking price to
cover these costs.
You would certainly find that they would be pleased to accept a
lower offer if you just "walk through their door" as an independent
buyer.
<BACK to Top>
Do
Moraira-HOMEFINDERS receive a commission?
Yes of course - otherwise we could not
even afford to maintain this website!
<BACK to Top>
How
do I get Started search for a Moraira property?
Decide first on the Moraira area, the type of property and how much you intend to pay.
You should then arrange your
financing.
If you are searching in earnest
for a Moraira property, logically, you would need to know exactly
how much you can afford before you start as there is the
possibility that you locate your "dream" home and it's a real
bargain. If the price is right then the vendor might not be
prepared to take it off the market without a substantial
(non-returnable) deposit.
Then you would be in a real quandary about what to do. You might
not know if you can borrow the required amount or even if you
could afford the repayments.
Then
arrange your Moraira Viewing Trip.
Finally make your appointments.
<BACK to Top>
How do I
arrange a mortgage with a Spanish bank?
Spanish bank branches are
governed by their head office and the local manager does not have
the final word about mortgages. However, the manager will give you
an idea about how much the bank is prepared to lend secured
against the Spanish property.
Currently this varies between 50% and 100% and depends on the
valuation and your ability to repay the loan.
Once you have chosen a
property the bank would carry out a valuation and check the
escritura (title deed) and building licence.
You would have to provide the escritura and proof of your income.
In the UK the Revenue and Customs Service provide a certificate or, in case you
are self-employed, your tax declarations would be required.
If you purchase through
Moraira-HOMEFINDERS, we would help with this.
<BACK to Top>
How do I
arrange my Moraira Viewing Trip?
Simply go to
the
VillaServers Rental Website and chose a property. The Holiday Consultants will organise your
accommodation, hire-car or transfer and advise you on finding and
booking suitable flights.
Explain that the purpose of your trip is property viewing.
<BACK to Top>
What if I prefer to make my own way to the Moraira Area?
All you need to do is let us know when you
will be in the area and make an appointment.
<BACK to Top>
Who
should I bring on an Viewing Trip?
Most certainly you should bring
your partner or other person involved in making the decision. If you
intend to buy then you would need the means to pay a deposit
(typically €3,000) to have the property removed from sale.
<BACK to Top>
Can I bring friends and or family and make a holiday of it?
There is certainly no reason why
not! In fact, taking time off to relax around the pool or enjoy a
meal in a local restaurant etc. with friends or family, would give
you a better feel for what living in Moraira is all about.
It is for this reason that we have included normal Moraira villa holidays in
the scheme.
However, we do not recommend that
you attend viewing sessions with more than 3 persons (better just
the two decision-makers).
This is because we would want to get you around a selection of
properties as quickly as possible. The property could be occupied,
and we would want to limit the intrusion, or it could be a new
property, and work would have to stop whilst you were inside the
building.
Nevertheless, if you get to the stage when you have established a
short-list, then it might be an idea to take friends for a second
opinion.
<BACK to Top>
What comprises the Moraira Accommodation and Travel Package?
Accommodation, for 4 to 7 days, in
a villa or apartment plus services (cleaning before and after
occupation, bed linen, towels, bathroom mats, kitchen towels and a
small "welcome" provision pack) plus a suitable hire-car collected
and returned to the airport (or a taxi transfer both ways).
<BACK to Top>
How do I arrange
my flights?
You would probably want a cheap
flight supplied by one of the Low-fare Airlines (EasyJet, BMI Baby
etc.). You may not be aware but the regular airlines (BA, Monarch,
Iberia etc.) are also providing flexible fares which, during the Low
Season are about the same cost as the Low-fare airlines.
We have a special
Cheap Flight Finder which will help you with this.
<BACK to Top>
May I view properties whilst on a normal Moraira holiday?
Yes, of course! However, it would
be best to arrange this beforehand.
The only problem is that during the Peak Season (July and August) it
is normally too hot to be driving around all day and, anyway, most
of the re-sale properties are let to holidaymakers.
<BACK to Top>
How do I research the properties I wish to view?
Simply start with the
search facility shown on every page. Keep a list of properties of
interest so that you can find them again - best copy the link to
NotePad of add it to your favourites.
<BACK to Top>
How much
deposit is required if I decide to purchase a property?
Normally 10% but generally the
vendor would require an immediate payment (usually 3,000 Euros)
in order to take the property off-sale.
Please see the next FAQ.
<BACK to Top>
Is the deposit
returnable if I don't proceed with the sale?
Normally the deposit is not returnable.
However there can be exceptions to this which should be stated in
a contract. Sometimes, for example, the Developer or Agent
may have agreed to secure financing for you or the contract might be
subject to you securing your own mortgage.
In the case of a re-sale property it is possible that a problem may
arise during the title search (such as a planning irregularity, a
debt or incorrect title deed description over the area of land). In
such cases the deposit would be held by the agent or your abogado
(Lawyer)
and, as the sale could not proceed as contracted, an agreement would
have to be reached or the deposit returned.
IMPORTANT PLEASE NOTE - Before
signing or paying anything you should elect a legal representative.
This could be an abogado or an API.
If the vendor's agent is an API then you can leave everything in the
agent's hands.
The simple, easy, secure way -
1. Arrange your financing. Open a
bank account with a nominal amount. Arrange the mortgage (if
necessary). The bank or mortgage consultant will obtain a mortgage
offer in principle.
2. Elect a legal representative (abogado
or API)
3. Found a property - Don't pay,
sign or agree to anything! Simply put the vendor (or agent) in
touch with your legal representative and/or bank (or mortgage
consultant).
<BACK to Top>
Are the
sales agent's commission and legal fees included in the price?
All sales commissions are always
included in the asking price but not the legal fees or the notary's
charges or the transfer tax.
<BACK to Top>
What is an Abogado?
An abogado is a lawyer, one who is
trained and licensed to practice law generally.
<BACK to Top>
How do you
define a "Developer"?
A Developer is a company, or
sometimes an individual (sole trader), who provides newly-built
properties. Sometimes a Developer will offer a plot of land and
provide a house from a list of basic designs (with can be modified)
or design you a house from scratch.
A Developer may also offer a finished house or one under
construction (so that you can choose your own floors, tiles and
other finishes) or even a house "off the drawing-board" (with
planning consent already arranged).
Some Moraira developers offer re-sales
as well. This is because they sometimes take a re-sale in
part-exchange for a new house, or agree to sell it for a client or
because a client goes back to them to sell.
<BACK to Top>
What extra
costs are involved over and above the purchase price?
The extra costs depend on the type
of property and, in the case of new a building, the contractual
arrangements. These are -
a) The Escritura: In
the case of a re-sale this is usually a simple document. If the
property is new then the building may already be on the escritura.
However, the Developer may sell you the plot of land and build the
house for you. In this case there would be another "escritura de
obra nueva" when you register the new building. This would involve
more Notary Fees.
If you have a mortgage then there is another escritura for this.
b) Land Registry Fees: Any
escritura has to be registered at the land registry and there are
fees involved.
c) Taxes: The transfer tax
on a re-sale property is around 7% of the value declared on the
escritura and this is the same for a plot of land.
In the case of a new property the transfer tax depends on whether
the land and building are transferred together or separately.
There is currently a tax of 1% on the declaration of a new
building but the Developer may (or may not) have included this in
the price.
Overall this is an issue far too
complicated to be specific about but, as a general rule you should
allow between 8% and 10% to cover these extra costs.
<BACK to Top>
What is an Escritura?
An escritura (precisely - "Escritura
Publica") is a document signed before a Notary.
In the case of a property transaction it contains (at least) details
of the buyer and vendor, the vendor's claim to the title (previous
transaction), the property's fiscal details, a full description of
the property, details of all of the boundaries, rights or way and
access (if not on the boundary to a public road), the value declared
by both parties for the transaction and that this amount has been
received by the vendor (or otherwise) and a declaration by
the seller to the effect that it is sold free of charges or
encumbrances and all of the debts have been paid (or otherwise!).
This escritura is not proof of title until it has been registered at
the land registry and endorsed with the registration details.
<BACK to Top>
What is a Notary?
- simply a public official who is
qualified to notarise and archive any type of document.
There are European laws which
govern Public Notaries and a central registry.
Many English lawyers and commissioners of oaths are Public Notaries
and they all provide documents with a special seal relating to their
European registry details.
Spanish Notaries, additionally, are
governed by code of practice relating to property transactions.
Among other cautions they have to obtain a certificate from the land
registry showing details of the property registration with existing
charges or liens (if any), a copy of the last rates bill, a
declaration that the Community of Owners Contributions are paid and
that there the "Plus Valia" tax has been paid by the vendor.
Additionally, the Notary has to ensure that certain other taxes, due
to be paid by both parties, are secured with a retention.
It should be noted that a Notary
Public in another country is not governed by the same code of
practice as a Spanish Notary, in fact, lots of these vital cautions
are impossible due to the distance involved and lack of local
knowledge.
<BACK to Top>
Once I
have finalised the purchase what do I do about maintenance
and/or renting?
Some Developers already have
schemes in place. VillaServers
may be interested, if you purchase a property within the Moraira
area or there are other Renting and Management Agencies that we
would recommend.
If the rental income is vital, and
once you have established a short-list, then
VillaServers may be able advise you on the
renting potential of each property.
If we cannot do this then we would certainly put you in touch with a
management and rental agency in the area.
<BACK to Top>
How much can I
expect to earn from renting the property?
This is almost impossible to answer
as it depends on the property and for which periods it is available
but 5% of the value is good going. If rental income is important
then we suggest that you
CLICK HERE and try to decide which property you would want for a
holiday at any time of the year.
<BACK to Top>
Suppose I
need to make alterations or improvements?
VillaServers are experts in all aspects of Moraira property management, can assist with any project and/or recommend
the necessary trades-people.
If you purchase a new property and require alterations immediately
then you should ask the developer to incorporate these in the new
building.
If you are interested in a resale and speak to us then we will give
you an estimate of costs.
<BACK to Top> |
