What is the process?

When you contact a Estate Agent the first thing you should check is the license of the Agent. It is important that the office displays an official registration with either the G.I.P.E. (Confederation Europeenne de L’Inmobilier) or the A.P.I. (Colegio de Agentes de la Propiedad Inmobiliaria), you should avoid any agent that can not provide you with any of these licenses.
The Estate Agent should be able to help you in finding your property according to your needs and requirements, and with the process of buying, giving you all the information regarding the legal procedure and realistic costs of the purchase. A competitive Estate Agent should have an extensive portfolio of properties covering different price ranges and locations. In addition, the Agent should be aware of new developments ensuring that the developer has the licence and permission to build, if it is necessary the Agent should arrange a search at the land registry to make sure that the developer is the owner of the land and has the building permission.

There are different reasons for buying a property, some people buy with the purpose of having a second home to spend a few weeks, or even the whole year in Tenerife. Other people purchase properties as an investment. The Agent should be able to advise you about the different options and the best investment opportunities.

When a purchaser finds his ideal property, the first step is to sign a contract between the vendor and the purchaser. The contract describes the property and the different clauses with the rights and obligations for both parties. The contract is in Spanish and the Agent should be able to explain it, making sure you fully understand all the clauses before you sign anything.

When you buy a property under construction, the contract is between the buyer and the developer and he holds the deposit until the construction is finished. When you buy a second hand property, the contract is between the buyer and the owner who usually gives power to the Agent to sign on his behalf, the deposit is held in a clients account until the new owner signs the “Escritura”, Title Deeds in the Notary. During this time, the Agent must do all the necessary search to make sure the property is free of charges and encumbrances stating who is liable for taxes and costs involved in the transfer of ownership.

As you can see, the Agent is not just someone who sells properties, the Agent will look after your interests helping from choosing the right property to signing the Title Deeds.
We are here to help you do this.