Under £50,000 will now buy you a property in Playa del Ingles.
Buying directly from owners and not via estate agents is increasing popular and not particularly complicated.
A Notario is the official who oversees the purchase transaction and will charge a fee of around 3-400€.
You may need some translation help dealing with the Spanish owners but we can provide that, so if you are interested in buying a property here in Gran Canaria the following is a short overview of the process.
There are 5 official documents you need when buying a property here in Gran Canaria, to ensure everything is performed completely and correctly and that the proper and legal procedures are followed each of these documents are inspected by an authorized official called a Notario.
T
he Spanish do things little differently
In the United Kingdom each party, the buyer and the seller have a solicitor.
At the moment of purchase the solicitors exchange the contracts and for a short time the money paid goes through the solicitors account, not so in Spain.
Here the purchase fee is paid into the banks and only released to the seller after the Notario has collected and certified the signatures on all of the essential documents are correct at which moment the purchaser becomes the owner the and the seller is allowed by the banks to access the funds paid by the seller to him or her for the purchase of the property
The Economic wowes of Spains Gran Canaria continues to affect more families as unemployment grows as budget cuts take effect
With property prices falling there are dozens of new properties comming onto the market over this summer 2012.
Many sellers (Vendedors) know that estate agents may add a high service charge and that this may stop many buyers (Compradors) buying at this time.
Many estate agents (inmobiliarios) can wait for buyers to pay their current asking prices whilst many sellers want to sell as quickly as possible to either service debts or to sell before market prices drop further.
Some owners / sellers are finding that using local estate agents can slow the selling process down too much
