Do you wish to acquire a property in Spain? There are three common issues, that may come as a surprise for a foreign real estate investor.
The first cultural shock when investing in Spain is that you may see the same property on different websites of different agents and at different prices. The reason is that it is very common to give the sales mandate to several agencies, and the message of changing the price does not reach all of them.
The second cultural shock is that in Spain the down-payment is normally paid directly to the seller. You can do it with a decent due diligence and do what the Spaniards normally do. It is recommendable to use a help of a local advisor to conduct the due diligence in order to spot the possible issues beforehand.
And finally, the third are the square meters. There are three official and legal ways to calculate the square meters in Spain. You always buy what you see, so you cannot make a claim if you notice afterwards, that there are square meters missing. When you compare the price per square meter of different properties, make sure that you know that the square meters are compatible and calculated in the same way.
Please have a look at the video below and get to know of the three cultural shocks when buying a property in Spain.
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