Buyer Insights

Valuable international buyer insights we’ve drawn from the Kyero podcast

Have you listened to the Kyero Spanish Property Podcast yet? It’s a great way to hear stories from people who have recently bought properties in Spain and find out about their experiences. You’ll pick up useful tips and tricks you can use to make your own buyers’ international home buying journey easier.

To get you started we’ve picked four of the best podcasts that we think contain useful lessons to learn.

“We hadn’t sold our house in the UK”

In episode 28, Julie and Greg shared their experience of buying a three-bedroom townhouse in Los Dolses, Alicante. They explored the opportunity of a second home in Spain after Julie took early retirement. But everything happened a little quicker than they were expecting. The couple found their dream home before they’d had a chance to sell theirs in the UK. And while the buying process went smoothly, if it hadn’t been for the support of their agent, HomeEspaña, it may have been a different story.

Familiar with the UK process, Julie and Greg assumed they’d have to return home and sell their house before proceeding with the purchase and could therefore lose out on the property they loved. However, HomeEspaña were able to negotiate an extension allowing them to tie up loose ends at home without losing the purchase. This involved paying an additional deposit, but the agent explained the process and any risks involved and helped the couple to a successful result.  

“Instead of going through the buying process which would normally take around six to eight weeks in Spain, [HomeEspaña] got us an extension. So, we put the offer in in February and they got us an extension to complete until August.”

What this means for you…

Remember that the buying process differs greatly in different countries. This means that the international buyers you’re dealing with will not necessarily know how things work in Spain. Gain trust and provide great customer service by explaining everything in full. And when difficulties arise do everything you can to help buyers to find a way around them so you ensure that sale goes through.

“Tax that we did not know about until the last minute”

In episode 19, Thomas talked to us about making the move 6,000 miles from the USA to a three-storey house in Almuñecar, Granada. Living so far from the search area has its own challenges, but by working closely with Tropicana Estates they achieved a great result.  

The main issue that Thomas and his wife came up against was a misunderstanding of the tax process. As Thomas explained, “In Spain there is a tax that the buyer pays and it’s like a sales tax that we did not know about until the last moment. So, that was a chunk of change that we had not expected…I’m sure the agent told us, but it didn’t register.”

What this means for you…

It’s worth double and triple checking that your client has accounted for all the additional costs that will be required of them under Spanish real estate and tax laws. Tax requirements can be up to 10% in addition to the property cost – a lot for your international buyers to find unexpectedly at the last minute.

“You have to have a good solicitor”

Episode 16 featured James and Juliet, who bought a two-bedroom apartment in Barcelona to use as a weekend getaway from London with their two daughters. The couple explained how a great relationship with agent BeUrbane led to them finding the right property. But despite having a very good experience and a fast buying process there were still a number of frustrations. Not least the length of time it took to cover off the admin side of things.

All buyers require an NIE number before they’re able to make a purchase. But getting one can be a complex and time-consuming process. Juliet’s advice? “You must have a very good solicitor to really help you out with it. If you’re doing the NIE here [in the UK], that would be my suggestion. You have to have a good solicitor.” They credit their good relationships with both their solicitors and BeUrbane with making the purchase as painless as it was.

What this means for you…

Forge links with well-regarded solicitors in your area to find those that you would be happy to recommend. Take feedback from past clients into consideration when creating your list. Being able to help and guide your buyers in this way will positively impact your relationship with them and improve their experience overall.

Also, don’t forget to draw prospective buyers’ attention to the need for an NIE number at the earliest opportunity to make sure it will be arranged by the time of purchase. They’ll definitely thank you for it.

“Cars are really expensive in Spain”

In episode 23, Nikki talks about her spontaneous purchase of a three-bedroom cave house in Galera, Granada. Before buying, she and her husband didn’t know Spain at all, but a holiday at a cave house inspired them to uproot their lives in Essex and retire abroad. Helped by Spanish Inland Properties, their experience has been relatively stress-free apart from one thing.

“The only thing that I would do differently…is the car situation. So, whether to bring a car from England or buy one here. I would certainly research that element if you’ve got a good car in England.” Nikki goes on to explain that cars are really expensive in Spain. She suggests that expats should seriously consider importing their own car.

What this means for you…

Add value for your customers by learning more about the important decisions that expats face outside of buying the property. This could be whether to bring their own cars with them, where to school their children or how to manage medical conditions. Do what you can to learn more about these common concerns. By offering well-considered advice, perhaps based on your knowledge of other buyers’ experiences, you’ll be able to make a real difference. Customers will appreciate you going the extra mile to help them.

If you’ve had some recent customers that you think have a useful story to tell, get in touch and we might feature them on a podcast episode sometime soon.

 

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