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Frequently Asked Questions:

This page attempts to list and respond to questions that many clients ask us.

Melanie and Zoë have put this page up due to popular demand:

Over the last three years we have interviewed and consulted with many clients and naturally the same questions, concerns and considerations appear in the course of our conversations. In an attempt to give our clientele a better background to, and a more rounded experience of, the purchasing and selling cycle we have decided to provide this page. The answers we give here come from our experiences and should in no way be considered as legal advice, which should be sought in any event, but our responses are, to the best of our knowledge, correct. Of course, ultimately, this is a client driven page and if your question is a typical one and it isn't here today - it will be tomorrow.

For the sake of clarity the questions are broken down into four main groups. You can go to either the beginning of the group that interests you (click on the brown heading, for instance: Pre Purchase Questions:) or you may jump to a particular question by clicking on the topic within that group (For example * What documents do I need?). There is a fifth group for "Miscellaneous FAQ's (frequently asked questions), not directly sales related, but generally, to do with life in the area (to browse this group, click on the brown bar labled "Miscellaneous FAQ's").

Pre Purchase Questions:

* Is there anything I can do before I arrive in Spain?

* What documents do I need?

* Do I need a lawyer?

* Do I need a surveyor?

* Do I need to have a Spanish bank account?

* Can I get a Spanish mortgage?

* How long does it take to buy a house in Olvera?

* What kind of a deposit do I have to put down to secure my house?

* Is this a good investment?

Purchase Questions:

* How do I transfer money?

* What is expected of me at the notary's?

* Is there an equivalent of rates?

* How much is my yearly tax?

* Is the property free of debts?

Post-Purchase Questions:

* How do I get water and electric in my name?

* When do I get my deeds?

* What architects, builder's, home care can you recommend?

* Should I become a resident of Spain?

Pre-Purchase Questions

There are a number of things that have to be put in place prior to the exchange of contracts. To facilitate the process it is a good idea to understand what is required of all parties and what to expect.

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Is there anything I can do before I arrive in Spain?

Email us your wish-list, budget and any properties on our website that interest you.

Open a local bank account, which is a very simple process here.

Let us know early on if you require a mortgage or other financial advice.

Organise your accommodation, available here in Olvera and Pruna there is a selection of hotels, guest houses and self-catering accomodation.

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What documents do I need?

To purchase a property in Andalucia you will need:

An NIE: This "Numero Identificacion Estrañero" has to be solicited through the National Police in charge of Foreign Affairs. You will need an NIE to conduct a number of transactions ranging from purchasing a car to acquiring a place in school for a child. This is an easy process that we can organise while you are visiting Olvera.

If you plan not to be present while the exchange occurs at the notary you will need to grant a Power of Attorney (PoA) to either a lawyer or someone that you trust. This document can be made specifically for this one transaction.

You will have to open a bank account in Spain, if you do not already have one, which requires a passport or NIE.

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Do I need a lawyer?

In short - "Yes": You do not legaly have to have a lawyer but we always strongly advise our clients to use a local lawyer.

On your behalf your lawyer will check the paper work and ensure that there are no debts on the property.

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Do I need a surveyor?

In Spain it is not a legal requirement to employ a structural surveyor, however we advise everyone to use one. This is always useful, in as much as you will have a checklist of items requiring attention and you won't have some unexpected surprise six months after you buy the property.

If you require a mortgage on your new home in Spain, the bank can provide a copy of their valuer's survey of the house, therefore saving you the cost of employing a seperate surveyor yourself.

We have a list of professionals who can help.

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Do I need to have a Spanish bank account?

A local bank account is necessary. You will need to pay utility bills in Olvera once you have a property, which you can arrange to be handled by direct debit. It is simple to set up internet banking allowing you to check on your accounts when overseas.

If you want a Spanish based mortgage, a local bank is often a must.

Olvera Properties has a list of local banks and can help you obtain a bank account.

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Can I get a Spanish mortgage?

Mortgages are available for non-Spanish residents: for a mortgage in Olvera you will need
º your P60
º last 3 months pay slips and work contract
º your bank account details in the UK,
º a bank account with the bank that is supplying the mortgage.
º your NIE
Nowadays you can only expect 60% to 70% of the purchase price, whereas residents can expect between 80% to 100%
You can either obtain a mortgage locally or by using a mortgage broker.

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How long does it take to buy a house in Olvera?

Of course this depends: while our fastest sale in Olvera Properties was accomplished within one week, the average time is more like a month. Often what this depends upon is ensuring that the money is in Spain and available for the purchase.

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What kind of a deposit do I have to put down to secure the house I wish to purchase?

It is a good idea to secure the property you wish to buy with a deposit, which in Spain the seller recieves.

In some cases, if you are unable to complete within 4-6 weeks we advise that up to 10% is deposited otherwise around a thousand euros is sufficient.

This is normal procedure in Andalucia.

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Is this a good investment?

Olvera Properties cannot answer that question for you: What we can say is that to date we have watched the house prices rise in Olvera faster than almost anywhere else in Spain. While the coastal regions have reached a "maturity" plateau, inland prices have continued to realise a good return in investment.

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Purchase Questions

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How do I transfer money?

As you may be transferring a large amount of money and the rates that most high street banks charge for this service can be very large, we can recommend the services of professional money moving companies that do the same service for less and often faster and more professionally than a bank,such as HiFX.

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What is expected of me at the notary's?

Once at the notary's office: you will be taken through the contract which will be read in Spanish, so it is advisable to have a translator present. Your lawyer will also be there to make sure that you have your interests looked after. By this time all the required paperwork has been lodged at the notary's in order to prepair the sale deed (escritura). The notary is a government official witness to the exchange of the contract.

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Is there an equivalent of rates?

IBI: "Impuestos Bienes Inmuebles" or "contribución" is about 1% of the value that the government place on the property per year. Thus, as a rough guide, a house with a value of 100,000 euros is taxed annually at under 100 euros a year

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How much are the yearly outgoings?

Much less than in the UK generally: The main expenses are the rubbish ("basura"), electricity, water and IBI. Thus the utility bills for a 100,000 euro house with a familiy of four can expect to pay:

rubbish -65 euros a year.
electric - 30 euros a month.
water - 15 euros a month.

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Is the property free of debts?

Yes: The lawyer and notary will not let you purchase a property without all the debts being fully paid off. For instance the vendors have to bring fully paid utility bills to the notary on the day of purchase.

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Post Purchase Questions

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How do I get the water and electricity in my name?

We can assist you in the transfer of utilities into your name.

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When do I get my deeds?

You recieve a copy of the deeds when you leave the Notary's office: The full registered title deeds will arrive at your lawyer's office within three to four months and they will inform you.

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What architects, builder's, home care can you recommend?

We have a list of merchants and proffesionals, which is as impartial as possible. We recommend that you get more than one estimate before you embark on any project.

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Should I become a resident of Spain?

Becoming a resident has some implications:
º You have the ability to get an 80% mortgage

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Miscellaneous Questions

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Bus timetables?

Olvera to Sevilla: 06:30 - 06:30 - 18:00 - 16:15 - 17:30
Sevilla to Olvera: 13:00 - 09:00 - 20:30 - 19:00 - 20:00

Olvera to Ronda: 07:00 arrives 08:30
Ronda to Olvera: 14:15 arrives 15:45

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Train Timetables?

Granada - Bobadilla - Almargen - Ronda - Algeciras:
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07:10 . . . . . 08:58
07:15 . . . . . 08:56 . . . . . 09:22 . . . . . 09:57 . . . . . 11:43
13:55 . . . . . 15:37 . . . . . 16:03 . . . . . 16:35 . . . . . 18:34
17:00 . . . . . 18:35 . . . . . 19:00 . . . . . 19:34 . . . . . 21:14
. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 20:54 . . . . . 22:25
.. . . . . . . . . . 20:25 . . . . . 20:50 . . . . . 21:20

Algeciras - Ronda - Almargen -Bobadilla - Granada:
. . . . . . . . . . .07:50 . . . . . 08:16 . . . . . 08:40
07:10 . . . . . 08:56 . . . . . 09:24 . . . . . 09:47 . . . . . 11:30
08:30 . . . . . 09:59
12:10 . . . . . 14:05 . . . . . 14:42 . . . . . 15:07 . . . . . 16:47
15:15 . . . . . 16:45
15:50 . . . . . 17:34 . . . . . 18:02 . . . . . 18:33 . . . . . 20:18
16:40 . . . . . 18:10
18:45 . . . . . 20:36

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Places to eat . . .

places in Olvera:
Antigua Estación Ferrocarril 661 463 207 or 637 858 103
Mi Pueblo
Juanito Gomez

places in Cadiz:
El Faro www.elfarodecadiz.com 956 211 068

Places in Sevilla:

Places in Arcos:

Places in Campillos:

Places in Zahara:
Al Largo, run by Stephan and Mona. 956 123 032

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Olvera Properties offers an exclusive and personal service to all its clients.
       Calle Maestro Amado, # 2; Olvera, 11690; Cádiz

 
       Office: Tel: (00 34) 956 120 261        Mob: Mel: (00 34) 615 434 307          Email: info@olveraproperties.com
       Office: Fax:(00 34) 956 120 372        Mob: Zoë: (00 34) 628 402 957