We have just completed one of the quickest purchases for an overseas client ever. The whole process from arriving in Valencia from Australia to completion took just 15 days and today we want to tell you the story of how that happened and how it is even possible. Also the application for a Golden Visa has been made and will be accepted in the next couple of weeks as we have managed to do everything required to beat the clock as it counts down to the end of that particular visa. First though we'll answer the question how long does it take to buy a property in Valencia normally and then we'll tell you what we did to make this happen so quickly.
How Long Does it Take to Buy Property in Valencia Normally?
Generally, you will contact us a couple of months before you come over so we can work together to make sure you get the best selection of properties that suit your requirements. You'll arrive and we'll set everything up for you helping you to open an account get a NIE number, a power of attorney and more before looking at any property that may interest you.
If we do our job well and you are clear about what you want and things are available that suit you then you'll make an offer on a property and assuming we can get to an agreement on price then your lawyer gets to work making sure that there are no encumbrances or liens on the property that may make it difficult to buy and a contract will be put together for completion within 30, 60 or 90 days according to an agreement between you as a buyer and the seller. (I know, that's a long sentence and it has a lot of ifs and buts but that's how it works). However, we can reduce this time as long as the stars align and you as a buyer listen to us and work together with us. Let's look at what happened with a specific client this month. This is an express purchase done right, this is how to expediate a purchase quickly.
Arrival in Spain
Our client arrived in Valencia on the 5th of November from Australia. Our first contact was less than two weeks before via email after they were advised by a previous client of ours to talk with us as "we knew what we were doing". This is an important point, right from the start they came on a basis of trust because we had done such a good job with their friend. This is an important facet of our work, trust us and allow us to lead you by the hand because, it's true, we know what we are doing! We had told them of what they would need to make the application for the Golden Visa. They arrived with all of the paperwork. A good start!
The First Morning
My colleague Gavin met up with them for a coffee at 9.15. By 10am they were meeting with the lawyer to leave copies of the papers and then were off to the notary to sign a Power of Attorney just in case the lawyer had to sign for the property for them but also so the lawyer could apply for and pick up the NIE number. We had some constraints on the purchase and, as we often say, having constraints is a positive thing because it concentrates the mind.
- The property had to be ready for immediate sale
- There had to be no complications in place (Inheritance, family feuds, divorce etc...)
- Seller had to be available to go to notary for signing deposit contract as well as final sale
- It had to be over the 500k mark for a Golden Visa
- It had to match their requirements
- They had to like it!
The Second and Third Days
We put together an itinerary of nine potential properties that fit the bill (More than usual for a change) and on Thursday and Friday morning all of the visits happened one after the other with no major gaps, not even time for a quick coffee between visits! On the Friday evening the decision was made, an offer was placed and it was accepted. We informed the lawyer and provided the paperwork from the seller's agent so that they could do the due diligence.
The Second Week
The due diligence was done between Monday and Wednesday and then the deposit contract was put together and signed on Friday the 15th of November and a transfer made to the seller, just ten days after arriving in Spain. Meanwhile the client had instructed their bank in Australia to transfer their money to their currency company (not our recommended Currencies Direct but one they had used before there) and they in turn transferred the money into the client's newly opened account here. The deposit payment was made from this account. We also got a certificate from the bank at this point to demonstrate that the funds were in place to complete the purchase. This is important as we wanted to make the application for the Golden Visa before completion without waiting for the property to be inscribed in the property registry.
The Last Three Days
Our client enjoyed their last weekend in Valencia knowing that they had made a deposit on a property they loved but on the Monday they had to fly back to Australia. Just 13 days here and that included two weekends so effectively just 9 working days. On Wednesday the 20th we signed at the notary's office for the property using the Power of Attorney left for the lawyer. Payments were made to cancel the mortgage and to the owner. The lawyer then rushed off to the tax office to make the payment of the taxes immediately to add this into the Golden Visa application. On Thursday the 21st the application for the Golden Visa was made.
It's not only the speed of the operation that may surprise but the fact that we were able to find something that suited the client so quickly and get the purchase over the line, signed, sealed and delivered with keys in hand.
Remember this is not always the case. It required the stars to align, trust to be in place and us to organise everything using the professionals we know and trust at every stage to get everything done quickly and on time. We know the lawyer well and know they are very quick with their due diligence and they know, as we do, the process of the Golden Visa off to a T. We knew the selling agent and they knew that when we bring a client we are serious and know what we are doing so they supported us with their client, the seller. We found a place that could be sold immediately because there was no chain, no encumbrances, no tenants and a desire to get the operation done quickly on both sides and the people we work with at the bank and the notary knew about the speed required as did their currency company. I can hear you saying "This doesn't really sound like Spain!" No it isn't but as I keep saying in this article...
"We Know What We Are Doing"
...and we organise it all so it looks like clockwork.
Pride
It's things like this that we are most proud of in our work. Doing a job well, doing it quickly and making our clients happy. The relationships we have built up over the years here in Valencia allow us to organise all of this from start to finish and make what is supposed to be one of the most stressful things you can do, buying a property, as smooth as silk. Yes, it can be done here in Spain! Three days later, Saturday morning as I write, we got a lovely review too
Property of the Week - Perfection is Possible
Perfection is relative I guess but when a property like this comes up for sale and you have the means and the motivation, I can’t think of any reason you wouldn’t buy it. If you’ve been on the ground and in the game for a while I imagine you are tired of trawling through the portals looking for something new/decent/not falling down/ridiculously overpriced/a dark cave/on a noisy road or all of the above.
So I don’t really need to say much about this one at all, completely renovated and in immaculate condition, lovingly maintained by the delightful owners, I believe it ticks every single box on the wish list for our our type of client, take a look at the pictures and the Virtual Tour then get in touch to come along and see the finer details for yourselves. There really is nothing quite like it in the whole of Valencia right now (and I haven’t seen it for a while either) and one of you lucky people can get as close to perfect as possible.
The Golden Visa clock is ticking and a viewing is highly recommended before it’s too late, if I don’t win the lottery and buy it myself in the meantime. Oh and BTW, there’s no swimming pool, you have to walk 250 metres for that, maybe it’s not for you after all……
If You Liked This...
Then make sure to click on the images below to be taken to our other related articles mentioned in the text above. If you want to get ready to buy in Valencia then these are essential steps.
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