Spanish Properties

Carlo1

Junior member
15 0
We are thinking of buying a property in Spain via the Atlas International company click here for their web site http://www.atlasinternational.com/en-gb

Has anyone here had any dealings with this company, or know any one who has. We have heard so many horror stories recently of people paying large deposits for properties abroad and then the building company they are dealing with going bust and taking the deposit with them.

Atlas appears to be a reputable company, they have been in business for 25 years, but one can never be sure can one.
 

TheBramble

Legendary member
8,394 1,170
Know nothing about Atlas, but do about the Spanish property/tourist business.

After the Madrid bombings, there was an immediate and dramatic impact (negative) on tourism bookings, property and tourist/leisure industry related sectors.

I am sure it is only temporary, but bear this in mind when/if you go forward with a purchase/lease. You can get a very good deal by bringing the initial offer down to a silly starting point (50% as a guide) at the moment.
 

Airthrey Capital

Well-known member
370 18
Carlo,

Creo que Bramble tiene razon. Ahora mismo los precios de las casas en Costa del Sol son muy barato.

Pero, cuidado!....lo que necesitas es un notario que conoce bien lo que hace.
 

TheBramble

Legendary member
8,394 1,170
Yes, but as I say, it's only a temporary situation. Costa property prices have shown regular and long-term increases to date and expectations are that they will continue to do so after the Madrid effect has passed.
 

oatman

Senior member
2,879 22
If you're concerned, it would be best to find an established UK company with overseas affiliates or branches.
 

neil

Legendary member
5,167 748
Always, always use a lawyer. Think with your head - not with your heart.

Why not go over there and rent for a while, look around?
 

jonnyy40

Experienced member
1,329 11
Which province is it that's passed a law allowing the local government to compulsorily purchase in order to provide housing for local families?This has been hijacked by developers to legally confiscate people's gardens and build luxury homes.Is it also the case in Spain that a person's debts remain with their property,even when it's sold??
 

Red Eye

Junior member
13 0
If your looking to buy mainly for investment purposes on the costa del sol, these guys are probably your best bet..... www.newspanishproperty.com . We bought through them after looking at many companies, they were very honest and gave us a great lawyer. Our off plan investment (bought not even a year ago) has gone up 30% already, as these guys specialise in this area and get pre-publicised prices.

Although our property won't be built for another 2 years we are going to sell it now, and make our 25-30% TAX FREE! Then buy another.

Happy hunting. :D
 

Red Eye

Junior member
13 0
Thats very funny.... well done!
 

Red Eye

Junior member
13 0
If you buy before developers start marketing the new project, you can make 10-15% in the space of days if you time it right. Of course make sure you use a reputable developer and check out their previous projects.

Eg. Property price 200,000 euros (30% deposit put down, guaranteed mortgage starts upon completion of property).....4 weeks later 15% rise due to the start of heavy marketing and more buyers.....decide to hold for 1 year, another 15% rise in prices that year......property now worth 260,000euros.

Heres the interesting bit (and completly legal in Spain, done through lawyers).......You market your property for a BARGAIN 250,000 pounds. The buyer now has to pay you the 50,000 euros + your deposit in CASH ( both parties lawyers are present at exchange of cash). This leaves the buyer with the mortgage which will only start upon completion of build.

The buyer gets 10,000 euros discount and a property that will increase X% in the time it takes to build.....and you get a pocket full of cash to lay as deposit on your next purchase... :D

This process happens all the time in Spain, and until The Spanish Goverment put in solid laws, people can carry on making money TAX FREE.

Once you have accumulated enough cash, and want to start spending some (aswell as re-investing of course), you open an offshore account.
You are still a UK resident,paying UK tax from your occupation in the UK!

1. You need someone in the know, to get you on board early.
2. You must be careful and pick a plot/apartment that is one of the best in the development. This will make getting rid of it alot less stressful, as you will sell it quick.
3. You must use a good lawyer that you can trust.
4. You must use a big developer with a reputation to uphold.

After making a bit in UK property over the last 5 years, I am now investing in Spain, I think annual returns will be better over the next 5 years at least. Thats just my opinion, so good luck to all you investors out there whatever your investing in... ;)
 

Red Eye

Junior member
13 0
Excuse me one minute while I stop laughing... :LOL:

Ok, I'm ready now....
Not quite, he's West Indian!.......but he's also very good.

You missed your vocation Chump, Peter Kays gonna be knocking on your door begging for material!!

You sound like your very knowledgable from your wise one liners, but how can I be sure when you don't back it up with anything?

If you know something I don't, please tell me. This is a 'discussion board' after all!

looking forward to another take on the Mongolian joke, be careful not to kill it though!! :|
 
 
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