Understanding the process of what you’ll be required to do next, once you’ve had your offer accepted on a property to buy in Spain, is probably the most important part of the transaction.
Knowing upfront what’s expected of you, will allow you to move forward with your purchase without any delays or risk of losing your future home to someone else!
Once your offer has been accepted, the next step is paying a deposit. This shows the vendor your intention of purchase. You’ll either be required to pay this amount by a credit card or bank transfer.
If you’re being asked to pay your deposit in cash, say NO and walk away!
Credit card payments tend to offer good exchange rates. If you’re given the choice, it’s always better to pay in the currency of the country you’re in, i.e. Euros in Spain.
For bank transfers, you can use a currency company, i.e. Moneycorp, however if you haven’t already set up your account with them, you may need to just make the transfer direct from your own regular bank account to save time, as your deposit will be due pretty pronto!
Without paying a deposit on a property you wish to purchase, means you’ll risk it being sold to someone else.
If you’re not in a position to pay a reservation deposit, you’re not ready to make an offer just yet.
If you’re looking for a home to buy, before doing anything else, you’re going to want to check out www.QuesadaDeals.com to see a selection of the best area deals!
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