TEN GOLDEN TIPS FOR A SUCCESSFUL PURCHASE IN TENERIFE

Congratulations: you have decided to purchase a property in Tenerife!

This is the very first step in your search for your own place on this subtropical island.

At Tenerife Online SL, hundreds of satisfied buyers have come before you.

If this is your first purchase in Spain, here are some important tips to avoid pitfalls and make your purchase a success.

** Tip 1 : Make a financial plan , so that you can be sure that your budget fits what you are looking for.

** Tip 2 : Do you want to take out a mortgage loan in Belgium for this purchase ? This is possible if you already own property in Belgium. If you do not own property in Belgium, you can also apply for a loan in Tenerife. We will also give you more information about this.

** Tip 3 : Take your time for your purchase and don't let them tell you that there is time pressure. This is often done to speed up the sale, especially by agents who sell under commission from a large real estate office.

** Tip 4 : Choose a real estate agent with a physical and professional appearance office in Tenerife.

Many "real estate agents" who offer properties in Tenerife work from home without an office. They have a professionally beautiful website and make an appointment on location to go out with you to arrange a sale. Some receive you in an external office that is not theirs. Because these real estate agents do not have an office and work for dozens of agencies, they have no responsibility. You get the most beautiful stories and promises. But where and to whom do you tell your story if a problem arises?

** Tip 5 : Take an officially recognized office under your arm for your search. They work with a RAIC number. If you choose an office that carries out all the administrative tasks itself, you are guaranteed to come out much cheaper than with a purchase through an independent agent. We always make a complete simulation of the costs in advance before you start the final purchase procedure.

** Tip 6 : Many offices state that they have a Belgian BIV number as a recognized broker. This is certainly mandatory for a purchase of real estate in Belgium. But in Spain the Belgian BIV does not apply.

In fact. In Spain and Tenerife, the profession of real estate agent is not recognized as it is in Belgium. Anyone can become an agent and sell homes without any conditions. And this is where the danger of a bad purchase lies. However, an estate agency can register with the Spanish government and thus obtain official recognition. But you do not just get that registration and recognition. Proven experience, thorough knowledge, a physical office and no ongoing legal file are the minimum requirements. In the Canary Islands government, this recognition is called the RAIC.

We have a RAIC number.

** Tip 7 : A Belgian notary is not a Spanish notary . In Belgium, the notary will prepare the purchase file for the signing of the deed. In Spain, the notary does not do this. This is done by a Spanish lawyer. We do all this for you ourselves, so that you do not have to hire a Spanish lawyer.

** Tip 8 : It is important that you can still rely on your real estate agency after the purchase. If the agent you bought from does not have his own office, this will be difficult. Think of key management, cleaning, repairs, annual tax return and accessibility in case of problems (leak, loss of key, repair, etc.). Many offices are only accessible during office hours from Monday to Friday. Our office, on the other hand, is accessible 7 days a week. This means that we are also available on weekends and public holidays in case of urgent cases.

** Tip 9 : Legal follow-up : choose an office that can continue to assist you in your own language. For example, think of the annual Spanish tax return for your real estate. It can also happen that your personal situation changes after a few years (new partner, donation, emigration, etc.), and that also has consequences for your situation as an owner in Tenerife. Here too, a legally skilled advisor remains very useful.

** Tip 10 : Enjoy your search. And that is perfectly possible when you follow the previous 9 tips: you are then completely free of worries and you only have to focus on the fun. Namely: 100% quality time on the island of eternal spring.

All these tips are not only useful, but also important. Because of the red tape in Tenerife, and the limited knowledge of many local sellers, the risk of a purchase with problems is real…

• We are officially recognized by the Canary Islands Government under the number RAIC 0085.

• We are members of the Tenerife South Real Estate Agents (TSREA), all of whom have signed a quality charter in which they commit themselves to guiding and protecting the buyer.

Customers who buy from Tenerife Online enjoy a PRIVILIGED status. We offer a total package, which means that you can sleep soundly after your purchase!

Jean Martin Vandenhoeck