Your FREE guide to buying property privately

It is quite normal to be somewhat apprehensive about buying-inc.asp property privately in the Canary Islands, especially if it is your first time buying in the Spanish property market. However, if you follow the number one rule of buying property abroad and hire a reputable local lawyer to represent your interests, you should be able to have your mind at rest that the process will go smoothly.

Why buy property privately?

One thing that most property buyers often forget when buying property with a real estate agent is that the estate agent’s client is actually the seller. This means that the estate agent can be expected to act primarily in the property owner’s interest (and their own), which is to close the property deal as quickly as possible for the highest possible price.

While a real estate agent may be helpful at providing you with basic advice as you hunt for property in the Canary Islands, driving you around the area and handling some of the paperwork involved, few estate agents actually manage to be totally unbiased. As a result, you, the property buyer, can easily end up with a false sense of security that your estate agent is adequately representing your interests in the property transaction.

On the other hand, when you buy property directly from the owner, you can usually negotiate a better price, since the seller is saving thousands on real estate agent’s fees. Some of the money you save should go towards hiring a lawyer who is truly independent and who is much better suited than any real estate agent to advise you on the legal aspects of your purchase and to make sure you avoid any potential pitfalls along the way.

Find out more about buying property on the private market in our step-by-step guide to buying property privately.