FAQ'S
The
questions are the same from place to place, so we have selected
a number of the most common questions from our featured sites.
If
you have a question , just
e-mail us or log on to a web site in our links page that
sells property in your desired location .
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| Q: |
Is
it true I will save money going direct to the builder
to buy ? |
| A: |
No , You will not save
any money because if a builder gives you a house
cheaper than the list price they will loose all
their sales agents.
Also if you need help or advice the builder
will not have time to attend to you !
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| Q: |
Why use
a Realtor / Agent |
| A: |
.For
Buyers a knowledgeable Agent or Realtor can help
sort a lot of the selection problems . Determining
how much you wish to spend will help you focus
on properties in your range. They know the pros
and cons of each location and Developer.
Your buyer representative for the location can
shop for you and get the information you need
to make your decision. |
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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: |
What if the builders run into
major problems and can’t finish the property? |
| A: |
In
a lot of locations 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 years now to protect
the interests of the purchaser.
Always
ask the question |
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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.
You
may if you wish. |
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| Q: |
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| A: |
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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 . 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.
H.O.A in the USA |
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| Q: |
Is the property freehold?
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| A: |
Yes in most cases.
It should be your FIRST question |
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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. But the
fee can be high |
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| Q: |
I’m buying a new property,
will I be able to inspect it before it's complete? |
| A: |
Absolutely! With a new property, before
you instruct your lawyer / (escrow in the USA )
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? |
| 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% on the money
they initially invested!
U
S A is not the same |
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| Q: |
After my enquiries will I
get emails on a regular basis |
| A: |
No
One or two replies will be sent out Inviting you to
seek further information if you need to.
You may phone
or fax also ++353 (0)1 8390085 |
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| Q: |
Are the Legal requirements different to Europe
in the USA |
| A: |
A
good question , I can't answer clearly.
I
will point out that this is very important at
the early stage of your selection , Because
there are more difference between some of the
European Countries than between USA and Europe.
The Agents or their web sites will have this information
and you should study it!
The
selling and buying details vary between countries.
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Q: |
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A:
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| Q: |
What
is the land in Arizona like, will grass grow,can
it be used for Fruit or vegetables |
| A: |
I am told
anything will grow out there if you water it.
There is a
Citrus farm close by, and you have your own
Joshua Trees on some parcels.
It does get
hot in the Summer so you will need a well for to grow
fruits. |
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| Q: |
Are
the Homes in Arizona as good as Las Vegas |
| A:
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I
would say yes, but I did not get the opportunity to
look around the show Homes as I have done in
Las Vegas
or California.
Building codes / standards are
very good. |
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| Q: |
If I am buying
land who do I talk to or how will I know what is good. |
| A: |
Talk to
the agent and ask him for the Local planning phone numbers,
ask about Access ,Water , Electricity and get information
form any source available. Click
here to see an example of what you should expect
from a Quality Realtor.
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| Q: |
What
do I have to do to avail of free Buyer Representation
? |
| A: |
Just
contact your choice of Agent first. It is not
possible to agree a purchase and then introduce a Repsentative.
If you do end up in discussion with a seller always
inform them your Rep. [ give their name ] will be in
touch. |
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| Q: |
How will I know
a good Builder / Developer |
| A: |
Anywhere
in the WORLD you face this question ,so rely on
your agent and shop around a number of Builders.
Ask them to educate you on their construction process
and you will get to know a bit about what to look for.
In any event get information form any source avilable
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| Q: |
Can
I buy Land with a friend or relative.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXX |
| A: |
Yes, in
fact a number of Parcels are in various names.
I think you will be joint owners and split
the Parcel after the sale. eMail me Mick
@ mb-Ranch.com for more info
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| Las
Vegas NV. |
| 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. / Tax No.. 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. |
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| Q: |
Are the properties
Freehold? |
| A: |
Yes. But do take care as some older
homes may not be; and always ask that question. Also,
manufactured homes are often Lease Land, which to our
way of thinking is Leased. |
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| Q: |
Are the homes near the Strip? |
| A: |
Most new developments are minimum
35 to 45 minutes away. Watch for New Beltway – 215.
It is a ring road good for going from East to West and
avoids Downtown.
There is a good Public Bus Service and even 45 minutes
or more from the Strip (Las Vegas Boulevard) you still
have a wonderful Casino / Hotel near-by.
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| Q: |
Is the cost of living high? |
| A: |
A difficult question because we all
have various standards. However, you can eat out in local
food places for as little as $10 per person for an evening
meal and in quality food places near the Strip (Las Vegas
Boulevard) where the sky is the limit from $35 .
Most of the hotels offer Buffets at an average of $12
per person.
The supermarkets are good value (compared to Dublin) and
other stores are very good e.g. Wal-Mart etc. |
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| Q: |
What other attractions are
there in Las Vegas (should I need them)? |
| A: |
Of course you will need them if you
are there for six months or more a year.
Golf, Boating, Fishing, beautiful Red Rock Canyon and
Mt. Charleston are just some of the other places to visit
and enjoy while in Las Vegas. |
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| Q: |
Is it true
I will save money going direct to the builder to buy ? |
| A: |
No
, You will not save any money because if a builder gives
you a house cheaper than the list price they will loose
all their sales agents.
Also if you need help or advice the builder will
not have time to attend to you !
Some builders have a sales agent
who makes a living at that location ,and that agent will
rely on other agents to bring in clients. |
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