Before buying a second-hand home | GR Estates
10/05/2024

Before Buying a Second-Hand Home

Are you thinking of buying a property in the Costa del Sol? Before taking the step towards purchasing a second-hand property, it's essential to follow a series of key steps and procedures to ensure an informed and safe purchase. As experts in documents and purchase-sale procedures in real estate agencies in the Costa del Sol, at GR Estates, we will guide you through this article on what you need to know before making that important decision. 

Research and Initial Evaluation

First and foremost, it's crucial to research the location and neighborhood of the property you are interested in. As GR Estates, a renowned real estate agency in the Costa del Sol, we understand the importance of finding a location that fits your needs and preferences. By comparing prices of similar properties in Fuengirola and other areas of the Costa del Sol, you can get a better idea of the market value and make more informed decisions.

Budget and Financing

One of the first steps is to assess your budget and determine how much you can afford to spend on a property. If you need financing, we recommend consulting with financial institutions to obtain a pre-approval for a mortgage loan. Our team at GR Estates can assist you in this process to facilitate your search.

Physical, Legal, and Technical Inspection

A thorough physical inspection is crucial before finalizing any deal. We recommend conducting this inspection along with a professional inspector to identify potential structural, electrical, or plumbing issues. This is especially important when considering new constructions in Malaga, where we want to ensure everything is in optimal condition for you.

As part of the process, it's necessary to request legal and technical information from the seller regarding the property. This includes the property title, construction plans, permits, and maintenance records. These details are essential to ensure transparency and legality in the transaction.

Negotiation and Offer

Once you are satisfied with the property after inspection and evaluation, it's time to submit an offer to the seller. At GR Estates, we provide guidance in negotiations and help you in crafting a competitive and fair offer.

Preparation of the Purchase-Sale Contract

When an agreement is reached, the purchase-sale contract is prepared. This contract should clearly outline all agreed terms, including price, delivery conditions, deadlines, and responsibilities of both parties. Our legal experts can assist you in this phase to ensure everything is in order.

Legal and Notarial Verification

It's crucial to have a lawyer specialized in real estate law review the contract and verify its legality. Additionally, the notary public will certify the contract's signature and ensure the transaction's legal validity. At GR Estates, we work with qualified professionals to ensure a legally sound process.

Payment and Closing

The payment and closing of the transaction are critical steps. Payment is made according to the agreed conditions in the contract, and on the closing date, final documents are completed, and the property is transferred. We will be with you every step of the way to ensure a successful and hassle-free closing.

Property Registration and Delivery

After closing, the change of ownership is registered in the corresponding office. Finally, the physical delivery of the property to the buyer is carried out, including the handover of keys and necessary documents. At GR Estates, as leaders in the real estate market in Fuengirola and the Costa del Sol, we are committed to providing you with the best service and guidance at every stage of your purchase. Our goal is for you to enjoy your new property with complete peace of mind and security.

If you are ready to take the step towards your dream property in the Costa del Sol, Contact Us today to start your search informed and successfully!

GR Estates, your trusted partner in properties in the Costa del Sol!

The GR Estates Team