Don’t pay a deposit when buying your house in Torremolinos or another place on the costa del sol... unless you are certain this is the home for you. In Spain, once you hand over a deposit, you are committed to the purchase. If you withdraw later, you’ll lose your money, which is typically 10 percent of the asking price. There are plenty of properties on the market, so don’t part with any cash until you’re certain you’ve found the right apartment or house for you.
2 reacties:
When I pay a deposit for the property to buy....is the deposit going directly to the owner or does the notary or real estate agent keeps the money till I actually buy the house? What is normal procedure in Spain?
14 februari 2010 om 14:56Hope somebody can answer my question.
Theresa
Normally the deposit is going to the owner, but you can agree differently. The notary doesn´t store the deposit for you.
25 februari 2010 om 15:15So be sure you can buy the house when paying the deposit
Een reactie posten