Earnest money is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price (though the amount can vary with local customs and conditions). If your offer is accepted, the earnest money becomes part of your down payment or closing costs. If the offer is rejected, your money is returned to you. If you back out of a deal, you may forfeit the entire amount.
Listen to your real estate agent’s advice, but follow your own instincts on deciding a fair price. Calculating your offer should involve several factors: what homes sell for in the area, the home’s condition, how long it’s been on the market, financing terms, and the seller’s situation. By the time you’re ready to make an offer, you should have a good idea of what the home is worth and what you can afford. And, be prepared for give-and-take negotiation, which is very common when buying a home. The buyer and seller may often go back and forth until they can agree on a price.
Your real estate agent will assist you in making an offer, which will include the following information:
Remember that a sale commitment depends on negotiating a satisfactory contract with the seller, not just making an offer.
An inspector checks the safety of your potential new home. Home Inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of only repairs that are needed.
The Inspector does not evaluate whether or not you’re getting good value for your money. Generally, an inspector checks (and gives prices for repairs on): the electrical system, plumbing and waste disposal, the water heater, insulation and Ventilation, the HVAC system, water source and quality, the potential presence of pests, the foundation, doors, windows, ceilings, walls, floors, and roof. Be sure to hire a home inspector that is qualified and experienced.
It’s a good idea to have an inspection before you sign a written offer since, once the deal is closed, you’ve bought the house “as is.” Or, you may want to include an inspection clause in the offer when negotiating for a home. An inspection clause gives you an “out” on buying the house if serious problems are found or gives you the ability to renegotiate the purchase price if repairs are needed. An inspection clause can also specify that the seller must fix the problem(s) before you purchase the house.
There isn’t a set number of houses you should see before you decide. Visit as many as it takes to find the one you want. On average, homebuyers see 4 to 7 houses before choosing one. Just be sure to communicate often with your Hondon Property Agent about everything you’re looking for. It will help avoid wasting your time.
Many of your questions should focus on potential problems and maintenance issues. Does anything need to be replaced? What things require ongoing maintenance (e.g., paint, roof, HVAC, appliances, carpet)? Also ask about the house and neighborhood, focusing on quality of life issues. Be sure the seller’s or real estate agent’s answers are clear and complete. Ask questions until you understand all of the information they’ve given. Making a list of questions ahead of time will help you organize your thoughts and arrange all of the information you receive.
In addition to comparing the home to your minimum requirement and wish lists, you may want to consider the following:
Take your time and think carefully about each house you see. Ask your Hondon Property Agent to point out the pros and cons of each home from a professional standpoint.
Before you go on a house huntint, it is highly advisable to have a clear picture of the possibilities for financing, so that if we have found your villa in Spain, we can actually take further steps and thus prevent you from going to view properties. which ultimately prove unreachable.
In principle you can finance a maximum of 70% of the tax value of a property in Spain, so that means that you must be able to finance the remaining 30% of the selling price (or the appraisal value) and the buyers costs (between 10-13%) insert.
It’s not required, but it’s a good idea. Following the inspection, the home inspector will be able to answer questions about the report and any problem areas. This is also an opportunity to hear an objective opinion on the home you’d like to purchase and it is a good time to ask general, maintenance questions.
90% of our properties are within 30 till 45 minutes reach by car from the international airports of Alicante and Murcia.
Yes, it is a great time for buying property in Hondon valley and surrounding villages. Property prices have fallen significantly since the financial crisis. At this moment the real estate market on the Costa Blanca is recuperating just as in other parts of Spain and Europe as a whole. On top of this, investing in Spanish real estate at the moment is a smart choice because of the very low savings rate that banks are now offering to their clients. By investing in Hondon real estate, you benefit from your property’s value increasing over time, enjoying your property while you are in Spain and receiving rental income when you are away
The Costa Blanca and especialy the Hondon Valley is well known for its desirable climate. Mild winters and warm summers are typical on the Spanish Mediterranean coast. In the table the average temperature during the year is shown.