FAQs
Holiday Rental is not always possible in every location.
Ask and read the regulations before you Buy. Anywhere in the World
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The questions are the same from place to place, so we have
selected a number of the most common questions from our featured
sites.
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SPAIN |
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| Q: |
What’s the weather
like in the winter? |
| A: |
Much, much warmer than Northern
Europe with a lot less rainfall. Most people on the
Costa del Sol don’t even feel the need for central
heating and with over 320 days of sunshine every year,
overcoats are a rare sight even in December and January.
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| Q: |
What if the builders run into major
problems and can’t finish the property? |
| A: |
As described above your money is bank
guaranteed. However the days when this kind of thing used
to occasionally happen is very much a thing of the past.
New Spanish and EU laws have been in place for many years
now to protect the interests of the purchaser. |
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| Q: |
Should I use a solicitor from my own
country? |
| A: |
This is not at all necessary, as your
lawyer back home would still have to use a local Spanish
lawyer resulting in you receiving two sets of legal bills.
All communications from your Spanish lawyer will be in
your own language. |
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| Q: |
What other costs on top of the purchase
price can I expect? |
| A: |
Normally you should allow an additional
10% on top of the purchase price for legal and notary
fees, Land Registry, VAT or Transfer Tax and Stamp Duty.
Your lawyer will give you a detailed estimate as part
of his quotation. If you’re considering a mortgage,
the bank may charge an arrangement fee and the cost of
a survey. |
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| Q: |
Is there a building guarantee with
a new property? |
| A: |
New properties have a 10-year guarantee
very similar to the NHBC guarantee in the UK. Although
this type of guarantee has been compulsory in many Northern
European counties for many years, it only became compulsory
in Spain within the last 2 years. Most things we buy in
this world have a guarantee, so it obviously makes sense
to have a guarantee on such a large investment as a property. |
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| Q: |
What are community fees? |
| A: |
Community fees apply for properties
that have the benefit of services such as a swimming pool,
24hr security, up-keep of gardens and general maintenance.
As part of the Golden Promise we will ensure you have
all this information before you make your final decision. |
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| Q: |
Is the property freehold? |
| A: |
Yes. |
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| Q: |
Can I get a mortgage? |
| A: |
Yes, they are readily available and
mortgage rates in Spain are generally lower than most
European Countries. |
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|
| Q: |
I’m buying a new property, will
I be able to inspect it before I complete? |
| A: |
Absolutely! With a new property, before
you instruct your lawyer to complete the purchase, we
will inspect the property with you and detail anything
that might need putting right. Once rectified to your
satisfaction, the title deeds can be signed. |
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| Q: |
Do I have to be here for each stage
of the legal process? |
| A: |
No. You can instruct your lawyer to
act on your behalf, even for the final completion. |
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| Q: |
What if I change my mind before completion?
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| A: |
You are committed to the Private Purchase
Contract but some people do sell their new property before
completion and can benefit from profits of up to 30% or
more on the money they initially invested! |
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| Q: |
Should we learn the language? |
| A: |
If you’re planning to work in
the Spanish community it is advisable. Otherwise you’ll
soon be getting by in Spanglish and picking up the useful
phrases which add to the quality and fun of life. Spanish
is regarded as one of the easier lan-guages to learn and
many people get started using a phrase book or basic cassette
tape. For the more serious there are dozens of low cost
language schools that cater for students of all ages and
ability! And for the less serious there are probably more
English speaking establishments on the Costa del Sol than
anywhere else in Spain. |
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France  |
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| Q: |
If I am buying in France who
do I talk to or how will I know what is good. |
| A: |
A: If you know some person who has bought a property ,ask their opinion. Always search our links page for information as we update often !
Logon to this company and get great information and properties from our links page.
Buying Property in France - the Legal Process
https://www.french-property.com
Buying a property in France: the legal process of French property purchase in France, including information about contracts, notaires, fees, taxes, surveys and ...
Information on France - Guide to Living Working Moving to France (french-property.com)
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Portugal
Golden Visa – Residence Permit For Investment Activities (cchomes.pt)
NON HABITUAL RESIDENT REGIME
NHR Regime –General Overview
This regime was introduced in 2009 to attract individuals and their families to Portugal by making it beneficial from a tax perspective to become a tax resident.
NHR status can result in salaries, pensions, dividends, tax on interest and investment income originating in a non-Portuguese source being exempt from, or being subject to a preferential rate of, personal income tax.
The only requirement to benefit from the NHR status is become a Portuguese tax resident, not having been a Portuguese tax resident in the previous 5 years.
The NHR status can be maintained for 10years.
To find out more please click here.
GOLDEN VISA – Residence Permit for Investment Activities
What is the Golden Visa?
The Portugal ‘Golden Visa’ is a temporary residence permit for non-EU citizens, providing the advantage of being part of the European Union, living and working in Portugal while maintaining residence in another country, with visa exemption for travelling within the Schengen Area and without obligation to reside permanently in Portugal. There is the possibility to obtain permanent residence after 5 years and/or acquiring Portuguese citizenship after 6 years.
To find out more please click here.
SMART CURRENCY EXCHANGE
How Smart Currency can help you
You could benefit from their cost-effective, safe and easy way to transfer your regular payments to Portugal. Smart Currency Exchange is able to offer exchange rates of up to 4% better than the local banks, there are no bank charges and their traders, unlike many others, are not remunerated on commission so can offer you impartial guidance.
To find out more please click here.27 (cchomes.pt)
Real Estate Agent in Central Algarve, Portugal Keywords: Algarve, property for sale, luxury villa, holiday apartment on the beach, countryside villa with views, Golden Triangle, Villa zum Kauf, Ferienapartment am Meer, Landhaus mit Panoramablick, luxuriöse Immobilien (cchomes.pt)
USA
LAS
VEGAS  |
|
| Q: |
Loan applications and
other forms require Social Security Numbers - SSN. I don't
have one. |
| A: |
A I.T.I.N. - Individual Tax Identification
Number can be applied for - see form W-7
Instructions. this is what you need, however we used
our Passport Number and our own S.S.N. / TaxNo.. The I.T.I.N.
Number is a big help. |
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| Q: |
Can I get a mortgage in Las Vegas? |
| A: |
Yes. But it is a bit slower than home;
also keep records of money transfers as you will be asked
to account for the deposit etc. (Money Laundering Prevention
rules).
It is important to let your Broker / Lender know that
you are a foreign national. |
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| Q: |
Where would you recommend me to buy
in Las Vegas? |
| A: |
Las Vegas is expanding so fast
and I don’t know a lot of it. But I like the West
and Southwest, Henderson in the Southeast and for retirement
Sun City Anthem.
For Luxury, Spanish Trails on Tropicana West and Lake
Las Vegas are just two out of at least four excellent
communities.
The standard in Las Vegas New Home Communities is
very good. |
| ARIZONA |
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| Q: |
If I am buying land who
do I talk to or how will I know what is good. |
| A: |
In any event get information form
any source available.to see an example of what you should expect
from a Quality Realtor.
Click Here |
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