Over the last decade more and more people are choosing to buy property in Tenerife.
Buying an property in Tenerife is a great investment. Many people choose to buy an apartment in Tenerife to use as a “better value” holiday home. Instead of spending money on a hotel to enjoy a holiday in Tenerife an increasing number of people have realised the investment of potential of owning property here. Instead of spending thousands of Euros on accommodation money can be invested in property that you own. After decades of taking holidays the financial outlay incurred can easily pay for a studio apartment or a bank repossession property in Tenerife that can then be resold or used by yourself and your family or even rented out to others to use.
Other people have contacted us with a desire to change their lifestyle completely and to buy property in Tenerife to use a permanent home. Leaving their country of origin to spend all of their time in the wonderful atmosphere and fantastic climate that this island is famous for.
If you wish to buy property in Tenerife for any reason, including buying a business in Tenerife then the use of a Tenerife Estate Agent is essential for your safety, security and of course a successful and stress free purchase.
Lupain Properties S.L: are a Los Cristianos based estate agency in Tenerife. We have been selling property in Tenerife since 1996 and we have helped thousands of clients achieve their dream of buying property in Tenerife.
Our skilled and professional team provide you with a complete service from start to finish ensuring that your successful property purchase in Tenerife is in the safest of hands from your initial enquiry to completion.
Buying property with Tenerife Estate Agents Lupain Properties S.L. is a simple and straightforward procedure once the potential legal requirements of the purchaser are understood and applied.
1. Register Your Property Enquiry With Us
Initially you need to contact our office staff to register your intention of buying property in Tenerife.
Our skilled customer relations and enquiries team can discuss and resolve any problems or concerns that you may have with buying property in Tenerife and if you are unfamiliar with the island give you a helping hand in choosing the right area for you.
2. Start Searching Our Property Portfolio
Once we have a clear and accurate understanding of the type of property and location that you desire we can then begin to make arrangements to view properties. As many of our clients are not based in Tenerife our customer relations team will begin to organise the viewing of property with one of our experienced property consultants for a specified time when you will be visiting the island.
3. Viewing Your Chosen Properties
Our sales team will arrange a custom made timetable for you to view properties at a time that is convenient and that suits you.
You can arrange to be met at your place of accommodation or you can meet with us over a coffee at our office which is based in the Cristian Sur complex in Los Cristianos.
4. Make The Owner An Offer
As soon as you have found the best property for you to buy in Tenerife will contact the owner of the property with you offer both verbally and in written form.
Once the offer has been accepted we will take a 10% deposit to secure your new property purchase in Tenerife.
5. Property Searches and Checks
Once the deposit has been paid our staff will request an immediate application for the Title Deed Search of the specific property.
This search will ascertain whether there are any outstanding debts associated with the property. This search includes debts incurred by mortgages and other financial agreements.
Once this search procedure has been completed and everything concerning the purchase is correct our staff will then create a purchase agreement that both you and the current owner of the property will sign.
6. Sale Agreement Paperwork
Between four to six weeks later the paperwork will be checked by a Spanish Notary who will once again check and finally confirm the terms and conditions affecting your purchase of property in Tenerife.
Following this you will required to sign the title deeds.
if it is not possible for you to attend the signing in person we can arrange a Power of Attorney which means that someone else can sign the title deeds on your behalf which removes any unnecessary stress involved with returning to the island at an inconvenient time.
After this you will be required to provide bankers drafts to the total of the purchase as agreed in the purchase agreement.
If the property you are buying has a mortgage then you will need to provide a seperate bankers drafts equal to the amount of the mortgage which is then paid to the bank of the seller of the property.
The local tax office will then pay back 3% of the purchase price if the seller is a non resident of the island.
7. Other Additional Costs
You will be required to have further finance to cover additional costs.
a. Registry Costs: Equal to 6.5% of the purchase price of the property.
b. Notary Fees: Currently these fees are around €400 but this can vary according the property being purchased.
c. Plus Valia: This local tax is confirmed by the local town hall and is around two hundred Euros in total.
d. Lawyer Fees: These come to €1,200.00
8. Final Completion
At the end of this simple and straightforward process you will now be the proud owner of your own property in Tenerife!
With more than 1,500 properties available to buy in Tenerife we are certain that you find just what you are looking for in our online portfolio.
We look forward to speaking with you soon and taking the first steps on the way to completing your purchase of property in Tenerife.