How to buy property in Spain

And here I am, with days to go before I have to pay the x% on a 2 bedroom first florr apartment in the Condado de Alhama project (Polaris), and I take a trip to see the Eagle in Sierra Golf. And now what do I do.. ? Sincerely not sure which to go for. Has anyone else been in the same position? And if so, what made you choose Sierra Golf?  I'd really appreciate a few thoughts on this one. Cheers. Andy.

Hi Andy, some dilemma eh?  Whichever you choose you're in a fabulous part of Spain and you'll enjoy it.  We bought at SG because you seem get more for your money.  Very good prices at a site that has just won a Property In Spain award for the best property site in Murcia for 2006.  We can't be sure until the development is complete, but it is supposed to be a fairly low density build - as compared to some other sites - who really knows?  In any case, what we've seen so far is quite well laid out, with good size gardens - perfect for outdoor living.  SG doesn't have the same famouse endorsements as the Polaris World sites, and hopefully that may be reflected in community and golf fees !!

Some people are already selling on - below current developer prices - check out the discounted member sales on this site.  I did see an Eagle for sale on another site, but the notice has been removed so it may have gone.

Whatever you decide to do, good luck and let us know how you get on.

Kind regards,  Jane

Sorry Andy forgot to add that you should also check out the article on this site about Polaris World.  It's worth reading.  SG isn't marketed with the same 'lifestyle' design concept, but is in the same area and will have some leisure/shopping/medical/sports facilities.       jane.

Hi Jane,

I don't know how these other people can manage to sell on their properties on SG because I have been told by both my Agent and Solicitor that Grupo Masa will not allow anyone to resell until completion , the Notary work done and the transfer of title deeds completed.

I still have no idea of completion but the way things are proceeding it is looking like Mar-Jun time.

Regards, Roger Davis

Hi Roger, thanks for the info.  When we originally bought (many moons ago) our agent said that buyers could sell the contract on.  We haven't tried, so you probably know more than we do now.

Members on another SG web site have been told that the deeds will definitely be ready at completion, apparently this is unusual for masa. people who bought at their camposol site years ago are still waiting.  Anyway, if it is true and if completion is April/May time, then it shouldn't be too long before you can sell on.  Hopefully the new law reducing capital gain tax will be in force by then too.  Good luck.  Jane

Hi Roger, just a quick update on the sales of contracts.  My son has put his Green for sale on this web site.  We have had a some general interest enquiries and two seriously looking to buy.  The serious enquiries told us that they know MASA will not allow the contracts to be sold on.  One has talked about entering into a pre-completion contract, to sell immediately completion takes place.  Apparently this was done previously on the MASA site at Camposol. I don't know if it's true but maybe people are finding ways around it.

I know the market is very flat and wonder if MASA are have problems selling the new phases, they'd want to make re-selling contracts difficult if that's the case.  My son could only just break even on his investment after legal costs.  At this rate, he may end up actually losing money if he does find a buyer.  I'm hoping this doesn't reflect the market value of my own house on SG, but it doesn't look to good at the moment.

Best wishes,  Jane