When you are looking to buy a property in Javea, you might wonder where to find the best property for sale and how the process will work differently from what you are used to back home. But no worries, we’ve got your back!
In this blog post we will give you a quick guide on everything you need to know when buying a property in Javea, Spain.
When listing your property with Estate Agencies in Javea, there are many to choose out of. The difference with what you’re used to is that sellers in theory could list with as many agencies as they want.
The problem with doing this, is that the process might become a bit complicated, as agencies among each other can share properties out. We always recommend sellers to list with a maximum of 2 agencies, just so everything stays as simple as possible.
Imagine if a seller is listing with 5 different agencies and all those agencies will go out to show the property to their clients. In that case all clients interested in the property will be spread over the 5 agencies. This means that every one of those agencies will have less experience in showing the house, as they will be out there less times.
Also, if a seller lists with a maximum of 2 agencies, arranging viewings will be simpler. The two agencies will know about almost all the viewings planned and so the seller doesn’t have to think about it and manage the planning himself. The fact that it is possible in Javea to share properties out among estate agencies, makes sure that other agencies with clients interested in the property will still be able to show it when they contact the agency it’s listed with, and go out there with an agent who has seen the property various times.
In Javea, most estate agencies will charge either 3%, 4%, 5% or 6% commission. The amount of commission is a decision made by the agency itself and reflects the core values of the agency. For example, it is not uncommon for franchise agencies with a big international name, to charge a higher commission rate because of their great brand awareness.
The brand awareness of international agencies is something they have working for them, but we would also want to recommend you to have a look at the smaller, local agencies. Because local agencies usually started up in the area, they have a lot of valuable connections and more experience in the area itself. You will often find great properties they can offer because of this. Smaller, local agencies will also mostly charge a lower commission rate because they have in general less costs than the bigger multinationals.
In Javea, estate agencies work together. This means that if a buyer reaches out to a specific agency and they gives them their criteria, they will look at other agencies’ portfolios to see if they have anything listed that meets the buyer’s needs. If so, the buyer’s agency can ask the other agency to show the buyer the property together with them, and if a sale comes out of it, the two agencies will share the commission.
The positive side of this is that it gives the the buyer the possibility to deal with one agency in the entire process of buying a house in Javea, and the buyer can pick the right agency for him based on for example experience and language. The buyer also wouldn’t have to look at all the agency’s portfolios to see if there is anything he likes, as the agency he is dealing with will do this for them.
Because there are many estate agencies active in Javea, you might wonder where to look for when choosing one you would like to work with. First of all, it is important to choose an agency that’s able to attend you in your native language. You will probably buy a house in Javea only once in your life, and especially when in another country, it is important to be supported in your native language so there will be no miscommunications.
Another thing to consider is the experience of the agency. Estate agencies who are active in the area for a long time know what is out there. They will know what you can get for a certain price, can advise you on the possibility of making an offer and if what you are looking for is feasible. It can save you a lot of time and frustration to work with an estate agency that knows where to look for and advises you on what is possible and what isn’t.
Once you have found the property of your dreams, a reservation must be made to make sure the property will be yours and nobody else can go for it anymore. Making the reservation is quite easy. Your Estate Agent will ask you to deposit an amount of (in most cases) 5.000 euros (reservation fee) in the bank account of the agency.
In case there will be found any defect of title, breach of planning consent, or previously undisclosed/unknown planning applications that could affect the enjoyment of the property, the buyer is still entitled to cancel the purchase and receive a refund of the reservation fee.
When this payment is made, the property is reserved for the seller and the the seller and his/her your agent can continue with the next steps, which include arranging all the documentation with lawyers and the banks.
Once all of this is done, a further payment due by the buyers for 10% of the sales price must be done. This is a non- refundable payment. This payment should be made to the sellers’ account usually in about 3 weeks after the payment of the reservation fee.
The sellers are obliged to keep up payments of electricity, water, local and municipal taxes, as well as any other bills that correspond to the property, until the date of the signing of the title deeds. The seller also has to state that no embargos or other debts have been placed on the property.
Once everything is in place, the day will come where the buyer, seller, lawyers and estate agents meet in the notary. The notary will be chosen by the buying party. Signing the Compraventa contract is pretty straight forward, but usually takes quite some time because the notary will prepare the documents on the day itself when everybody is present. When everything is signed it is time for the seller to hand the keys over to the buyer and all is done.
If you are looking for properties for sale in Javea, Villalux is here to help you. We have a full portfolio of houses, villas, townhouses and apartments for sale in Javea. Because of our 25 years of experience in the area we know what is out there, and we are able to find you the property that fits your needs. If you are from the United Kingdom, United States, The Netherlands, Germany or Belgium, don’t look any further. We will support you in your native language and will advise you on everything you need to know about buying a property in Spain.
Author: Romy Lagarde | Date of publication: 16-10-2021
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