Buying Las Americas Apartment, South Tenerife

(Author: ClintJhonson | Article Views: 24 | Word Count: 785 | Published: Oct 17th 2007)

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The benefits of living in Tenerife are huge when it comes to people all over the world; the summer-like weather can be regarded as the main reason but every real estate agent is perfectly aware that the low cost of every day living together with the Tenerife apartments for sale are the main reasons why Tenerife is called “The Fortunate Island”. Many people are beginning to exchange their back home lives for this amazing tropical climate; no end is likely to approach when it comes to the constant demand for the Tenerife apartments for sale but the buyer should prepare himself for the many subtle differences that will appear when a transaction is made. The property is transacted in a slightly different manner when it comes to Las Americas Apartment, South Tenerife. This aspect is to be foremost in every buyer’s mind because buying a property in a foreign country can be quite tricky sometimes.

These properties are sold through different real estate agents who are also likely to offer these properties for sale; for instance, the buyer should verify whether the same property is offered by another real estate agent at a lower price because this situation can actually occur on the Spanish property market. The buyer can visit the property as soon as he sees the advertisement and he will be accompanied by the real estate’s representative. If the buyer is interested in that particular property, he should make an offer in order to deal with the real estate agent. Las Americas Apartment, South Tenerife has its value already established; the property owner will know the value of his own property and the buyer should expect only to a minimum negotiation. On the contrary, if the property has been for sale for a longer period of time, the buyer may expect a sort of discount.

Another rule that is quite common in Tenerife is that these properties are usually sold furnished. No formal and official survey system is to be expected in this case so every buyer should use his common sense and judgment in order to establish the real condition of the property he has chosen to buy. He should also remember that all the building standards are improved. So, the newer properties will be more likely to come free of different unforeseen problems that may be related to the architectural design. If the buyer’s offer is accepted, he will have to make a deposit. This deposit will reach almost 10% of the entire amount of money and this deposit should be made into the seller’s account. It is highly recommended to appoint a specialized lawyer who works independently of the real estate agent. The buyer should be very careful if the real estate agent suggests that this is not necessary; actually, having your own lawyer in order to represent your interests is highly recommended in order to avoid possible frauds.

A side by side translator should be also provided; you have to understand all the terms of the agreement. After signing this transaction, you have to be clear that if you do not manage to complete all its terms in the required time, your initial deposit will be lost. The completion of this agreement will take place six weeks later and the agreement will be completed by a local Notary who will confirm and check al the conditions and terms that are to be found in this specific contract. The seller and the buyer must be present but they can have their nominated representatives sent in order to be present at this completion. Additional costs are also to be expected and the buyer should provide his lawyer with sufficient amounts of money in order to pay for the transmission tax, the notary fee and the solicitor.

After all these transactions have been completed in the proper manner, the buyer should consider himself as the proud owner of Las Americas Apartment, South Tenerife; the council tax will be a low one and the daily rubbish will be collected for a hundred euros a year. If the buyer lives in a Spanish community, he will have to pay several community fees in order to maintain the existent pool, lifts and different communal resources. The gardens are to be taken care of too but all these expenses are not too high. Actually, water and electricity is metered according to the surface of the apartment. The last thing for a new buyer to do is to apply in order to get a NIE number. This number is used in order to register him and this application should be made as soon as the buyer owns the new house. Otherwise, just learn some Spanish, relax and drive carefully.

About the Author

Tenerife apartments for sale are to be bought in the presence of a translator because you have to understand all the terms that are implied by buying a Las Americas Apartment, South Tenerife

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