We have long had an FAQ page on our website which you can see here and in it we even have an embedded video all about the most frequently asked questions. However we thought it time to reiterate and add more questions of those that we consistently get asked. Equally we thought the best way to answer the questions was by way of the blog posts we have written because there is so much information on the site that you may get lost and not be able to find all of the information you want.
Saying that we do have a page with the most essential posts to get you a broad overview of what to do and the market in general in Valencia Property which you can see at the link but read on for more answers to our frequently asked questions about Valencia Property.
How Can I Work With Valencia Property?
At Valencia Property we use a hybrid version of the realtor model imported from the United States where the client chooses their realtor and works exclusively with them to identify and secure the house they are looking for. You can read about the full process here. To summarise, contact us well before you visit, fill in our form on the linked post and let us know what you want and contact us regularly before you come over so you are ready to hit the ground running.
What type of places does Valencia Property offer?
We generally work with properties that are pre owned meaning you can actually see what you will potentially be buying rather than working from the renders taken from the imagination of an architect. We have written about why this is in a previous post which you can see here. So our typical properties are apartments in Valencia, town houses around the city in the villages and towns near to Valencia and villas on the estates that are within half an hour of Valencia. We also outreach to beach and coastal properties to the south in Denia and Javea among other places and to the North also.
How do I Search for Properties on Valencia Property?
Simply go to our homepage and use the orange button just under the banner at the top that says "Search our Properties". It will expand so you can enter your requirements. Simply enter your requirements and click find your property.
Now... what happens if you don't get many good results?
This is where we come in with our actual job
What is on the site is just a snapshot in time at this moment. Our real job and where we stand out is finding the right places for the requirements of our clients. To do this you just need to send us your requirements which you can do by filling in the form mentioned above. You can also click here to be taken to the page where we talk about taking the first step or click on the image below.
Can Valencia Property help me with the legal aspects of buying property in Valencia?
Of course we can... but it won't be us. We will put you in touch with recommended lawyers who are totally independent from us. If the lawyer says don't buy for whatever reason then you don't. We have written about the process of choosing a lawyer here and there are loads of stories of people sufferring after choosing a lawyer recommended by the selling agent or developer. Ask us when you visit for the horror stories.
Are there any additional taxes or fees that I need to be aware of when purchasing property in Valencia?
Oh yes! What is it they say, death and taxes? Your purchase price isn't the full amount of course. Onto that price you should be adding 15-16%. We have broken down the costs in other posts here and here. Basically, 10% tax, 3% plus VAT for agency fee, 1% Notary, Registry and Gestor (It's slightly less) and typically 1% plus VAT for your lawyer. Something for 100k will really cost 115-6k for example, 200k will cost 230-232k. Bear that in mind. And bear in mind the reference value just in case.
What is the process for making an offer on a property listed or viewed with Valencia Property?
You go to see a property, you like it, you let us know your offer... well it's not quite that simple but a bit like that. Anything that you want to make an offer on consult us. We will know what the owner is likely to accept, what offer might insult them and make them shut up shop and not negotiate, the conditions we might get regarding time periods, furniture etc... We will have talked wih the agent, the owners unofficially and/or the developer and we will have a good idea of what is needed to get to an agreement. In fact we may well have told you what to offer as a guide. That's what we do.
There's one more thing though.You may need to put up a reserve to make an offer, especially in the city itself. This is to disincentivise people from just making ridiculous offers on everything. The reserve is usually around 3000 Euros. If the offer is accepted the money is kept as part of the 10% deposit contract and if it isn't accepted it is returned.
Some agents have been known to keep this deposit to place onto the next property you make an offer on. Be careful of that small print. They may never have another interesting property for you.
Does Valencia Property offer financing options for international buyers?
We don't offer financing options ourselves, after all we aren't a bank. However, we work with mortgage advisors who work with a huge variety of financial institutions to get our international clients finance on the properties they wish to buy. Truth is the majority of our clients buy without a mortgage having sold their property in their country of origin and come here to live permanently as opposed to having a second home. We have written before of course about the full process of getting a mortgage on your Valencia Property.
Is it possible to view a property before making an offer, even if I am not currently located in Spain?
Sure, we can make that happen... sometimes. We often sell properties through video and Facetime calls but, and this is important, only to clients who already know the area or the city and can make an educated choice based on that knowledge and also that they have been working with us for a time where we know exactly what they are looking for. You will need to be ready to buy though and have your ducks in a row, bank account, POA for a lawyer for completion, NIE etc... before we lift a finger for this service.
We will not do video visits for cold calls when someone asks for a video tour remotely any more.
Unfortunately we did this a lot during and post Covid and it just doesn't work.
If you don't know the exact location then you can't make an educated decision. So despite the fact that Kyero, ThinkSpain and other portals offer this option on their pages we refuse the requests from people wanting this service unless they are signed up as our client and already have experience and knowledge of the area or in the case of investment properties when the only important thing is the ability to attract a rental and the numbers involved.
Can I list my property for sale or rent on the website?
Sure you can, well for sale anyway we don't list many rentals as they are generally rented before we list them in general. Contact us through the "Sell My Property" page and give us details of it. We will then ask you for photos, details etc... before deciding on whether it would suit our portfolio and our clients (AKA Is there a market fit?)
Once we decide it is then we will come and take a look and start our unrivalled marketing of it; the photos, the 360 tour, the video, the drone shots, the sharing with our collaborating agents and clients, you know, the marketing plan. You might also want to contact us via mail, whatsapp or even, heaven forbid, phone us up so we can chat.
However, if you contact us for a property in the Canary Islands or you are asking a ridiculous price and have had it for sale for a couple of centuries then don't expect us to take it on. We keep a strict quality control on the site and a converted barn in the middle of a field 80km inland from Valencia isn't going to cut the mustard.
Are there any fees associated with using Valencia-Property.com as a buyer or seller?
As a buyer yes, as a seller maybe, maybe not.
In Valencia both buyer and seller pay the estate agent. Yes we know this is not the same as other parts of Spain, your country or "When I bought my property in Shoreditch from a developer in the early 90s". We have explained before the benefits of using a buyers' agent and we will continue to repeat it until we are blue in the face if required. As a buyer we charge 3% just like every other agent plus VAT. If you buy a second property then we give you a 20% discount on that fee.
As a seller we will only be charging you if the buyer is not our client, if that buyer comes from one of the agents we will be offering the property to and their client pays them. In this case we will be charging you as a seller 2%. If one of our buying clients decides to take your property then we won't be charging you anything as a seller.
You need someone on your side as a buyer. As an example here's a message we got on Facebook this week.
"Hi. We were in Valencia until yesterday and saw 3 apartments, but one of them wanted the money paid to Turkey or Kazakhstan (Russian), and another showed us a completely different apartment. The 3rd is wonderful but also an uncertain situation with 2 inheritors. ..... the property market is so different here in Spain, and complicated. Can you help?"
Yes we can and we have had a chat about this. The first situation is a scam, the second is a bait and switch (See our article about scams last week) and the last didn't suit them when they talked about it with me because it didn't tick their boxes but by then they were a bit frustrated by the first two. They now have us on their side and will be back soon we hope to find their perfect place.
How does the buying process work in Spain for foreign buyers?
The same as it does for Spanish buyers except for one thing. You must have a NIE number (Spanish Tax Number) to purchase whereas a Spanish buyer will have their DNI (Identity document) This is all part of the process of preparation for your purchase. Don't worry about the date of the linked article being 2018. If things change it will be updated here on the blog.
Therefore the process is find a property you like, make an offer, get an agreement, set a date for the notary, buy the property and enjoy. Simples! There is a longer, more convoluted explanation here though if that seems too simple.
Are the properties listed exclusively with Valencia Property or can I find them elsewhere?
We have some properties exclusively but usually you can find them elsewhere. You can find them on other estate agency websites, on property portals, or elsewhere in the depths of the internet. Even if it is a property exclusive to Valencia Property you will find it on social media, on property portals around the World and more. There is almost no property that is exclusive and only found on one website these days and if there is then the agent isn't doing a great job of promoting it.
If you prefer to work with the listing agent of a property we also have then, no worries, try it. They'll still be charging you and if they say they aren't then they will definitely be charging you, in fact overcharging you massively but hidden in the price.
Our clients often send us a list of all of their favourites they have found elsewhere and we make the contacts with the agents for them because they only want to work with us and in many cases they have tried to make contact to no avail.
There will be a second part of this post next week with more FAQs. These will include the following:
What types of services does Valencia Property provide to assist with relocation to Valencia?
How does the process work for renting out my property through Valencia Property?
What makes Valencia Property stand out from other real estate agencies in Spain?
What areas in Valencia and surrounding regions does the website cover?
Does Valencia-Property.com offer any additional services such as legal or translation assistance?
How many languages is the website available in?
Are there any frequently asked questions or guides available for navigating the website?
Do you have pocket listings?
And a whole bunch of others perhaps. Why perhaps? Well, that depends on you.
Are there any other questions burning a hole in your head that you need to know more about?
If so then contact us and ask away. We will be sure to include them unless they are of the "Will a man ever swim faster than a shark?" variety.
News of the Week
Valencia has announced the installation of 164 new charging points in and around the city for electric cars. This adds to the already large and growing infrastructure surrounding the electrification of vehicles in the city and region. It's logical as the EU starts to phase out sales of petrol and especially diesel cars over the next few years towards the goal of no new car sales of polluting vehicles by 2030-2035.
If you have any questions about where you can charge in and around the city, the apps you need, the prices and where you can get hold of an electric car just ask. I (Graham here by the way) am an extreme EV bore with an Ioniq 5 and would love to see your EV once you buy it and have a go in it. This is especially true for anyone getting the Ioniq 6, the Ora Lightning Cat when it comes out or any of the microcars like the Microlino that will be on the market in the next year or so. And if you want to bring a Lightning F150 from the States then I'd be interested in seeing that!
Tip of the Week
Get legal advice not Facebook advice!!!!!
The number of people posting questions on Facebook groups about Valencia such as, "I've just sold my property in wherever and I want to know if I have to pay tax on that money when I come to Spain to live" is ridiculous. Facebook experts are not real experts (In general) despite there being plenty of people who know what they are talking about in these fora. They are generally drowned out by those who are prime examples of Dunning Kruger, ever more sure of what they are saying the more wrong that advice is.
Here's the deal if you want to hear it from this blog (Also not tax experts but generally right), if you are a resident for tax in Spain and you sell a house abroad then you pay tax on the capital gain here even if you don't have to in the country where you sold it. How do you avoid it then? If you sell the house in the first half of 2023 you wait to come here until the second or third week of July and thus don't become a tax resident for 2023 in Spain, the 183 day rule. Next year, 2024, you will become tax resident, but next year you won't have a capital gain from selling a house right?
However, and very importantly, don't believe us here on tax in the same way you wouldn't believe those who spout bs about it on Facebook. Consult a tax specialist. You have a capital gain, you can afford it.
Property of the Week
Valencia Property presents this really impressively renovated villa on a huge plot of 2800m2 in Naquera on the Carrasca Urb. Walkable distance into town downhill and maybe take your scooter or ebike down for the short trip back.
The plot is amazing on many levels with a perfectly designed and looked after garden for those of you with green fingers, you'll want something to do outside as you find yourself in this particularly beautiful part of Valencia.
The house has been fully modernised in an atypical way using open spaces and prioritising the living area over everything else meaning you have a bright open plan living/dining/kitchen area with two bedrooms and two bathrooms. There is a huge semi wrap around terrace with those lovely arches that accentuate the views towards the green mountains of Naquera and underneath you have a garage, storeroom and old bathroom ready to be converted into more accommodation if required.
There is also an outhouse which has been converted into a modern one bed unit with kitchenette and bathroom.
The plot is pretty amazing though with a great fronton for exercise, impressive long driveway leading up to it and pool with filter and solarium area as well as shady play areas and plenty of opportunities for gardening and nooks and crannies for the family to hide away.
Set in the folds of the Sierra Calderona mountains just outside Naquera, one of our favourite vilages in the area, there are supermarkets, shops, cafes, bars and restaurants while being only 20 minutes from the coast and 25 from the city of Valencia itself. A beautiful place but not for you if you don't like gardening or paying for a gardener to look after it for you.
This property is high quality and ready to move into at the drop of a hat.
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