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Acquiring a new built villa or apartment can be challenging, especially without a deep understanding of the procedures involved in such property transactions and without knowing the true advantages of using real estate agencies. The first question that will arise for the buyer-investor when considering a new construction home will be, "Should I purchase a new built property, freshly finished, through a real estate agency or directly with the developer?"
As emphasised, the process of acquiring a property, whether brand new or previously owned, involves numerous steps and documentation that must be followed meticulously and in accordance with the laws of each country. It’s always beneficial to be accompanied by property experts. It is crucial to choose an agency with experience, honesty, and guarantees.
The presence of a property agent will provide the reassurance that everything is proceeding correctly. In our blog, under the legal advice section, you can find information on many aspects to consider in the purchase of a property. However, this will only further convince you of how valuable the personalised guidance and support of property agents are.
ADVANTAGES OF USING PROPERTY AGENCIES
1.The agency’s commission is never paid by the client.
For those familiar with property transactions, this statement is obvious, but we do not want to assume that all our clients are aware of it. The commissions of agencies never come out of the buyers’ pockets; it is always the sellers who must pay them from their profits. Therefore, in the case of new construction, it will be the developer-builder who pays the property agency its fees, not the client. Hence, the service provided by the agent to the client is free.
2.The agency’s vision is more objective.
For the developer, their project is the best. They may not see any flaws and certainly won’t compare it to other constructions in the same market range. Agents at Christie’s International Real Estate have among their company values always telling the truth, both the pros and cons of property. And if, for any reason, there is a better proposal in Christie’s exclusive property portfolio, the client will be informed.
3.The agency has peripheral knowledge of different property areas.
The property developer may not know every detail of the vibrant and ever-changing property market. They know their product, their properties, very well, and perhaps also part of the area where their development is located. But after years of experience the agents at Christie’s International Real Estate - Madrid, Malaga & Marbella are the experts in this paradisiacal area in southern Europe. Let us give you a couple of simple examples. On the negative side, our agents will know if a noisy road is planned to be built near the development in the future. On the positive side, our agents will tell you if it’s an area with good international schools or nice beach clubs.
4.Agencies know the pros and cons of developers.
Not all developers are the same. The agency will inform you if the developer is reliable or not. Some developers may cause many difficulties when it comes to fixing certain defects that may arise during the period they are responsible for as builders of the property. In Spain, this period is ten years. Our agents know all the developers on the coast. They will be able to tell you if a developer/contractor truly uses the best quality materials and if they leave clients satisfied even during the after-sales period.
5.Each client of the property agency is treated in a personalised manner.
When a buyer contacts our agency, the assigned agent focuses on their needs. Sometimes choosing a suitable property can be a quick process, sometimes it can take months. Each client is attended to in their original language, all necessary questions are answered, they are accompanied on each property visit... and thus, step by step, with thoroughness and patience, they are guided until the buyer’s ideal home becomes a reality. In the case of new built, the agent’s expert eyes will be very helpful for the buyer. If there is an option to customise the chosen property off-plan, the agent can make suggestions about materials or finishes, for example, or if one is going to purchase one of the last units of the development, the agent will know how to negotiate the best price.
6.Agencies have special deals with developers.
Something many clients are unaware of is that developers have special signed agreements with certain agencies. This always greatly benefits clients. It is not the same to buy a property with Christie's International Real Estate - Madrid, Málaga & Marbella, which is a leader in the sector and has preferential treatment with many developers, as it is with other agencies. Many properties in are only offered exclusively or as pocket listings (very private sales) to Christie’s.
7.Property agencies offer additional services.
When using the services of an agency for the purchase of a new home, please be aware that there will be a before, during, and after. If you are coming from abroad and need help getting here, the agent will inform you of options; if you need advice on choosing a lawyer and notary, the agency will provide it; if you need help afterwards with moving, decoration, cleaning, renovations, renting, or even reselling your property, the agency will do it or provide you with a list of the best providers. That is why Christie's International Real Estate - Madrid, Málaga & Marbella can boast of customer loyalty. Because many of our clients know that, compared to a developer, we offer a whole range of additional services, and many of our clients have already had a life long journey with us.
NEW-BUILD PROPERTIES IS A GUARANTEED INVESTMENT
Investing in properties under construction in Spain offers a secure and guaranteed avenue for investors, a point of notable assurance that merits attention.
Under Spanish law, the protection of consumer funds is paramount. Regardless of the project's stage, whether it involves off-plan purchases or developments nearing completion, developers are obligated to ensure their financial stability through either a bank guarantee or an insurance policy. At the outset, developers are required to secure an insurance policy or bank guarantee to facilitate the commencement of the project and to safeguard clients' investments in the event of any delays or failure to deliver the property within the agreed timeframe. Moreover, funds received from buyers must be held in a dedicated, segregated account managed by the developer, ensuring that these funds are exclusively allocated to the intended building project and are not diverted for other purposes.
For any inquiries about high-end properties in Madrid, Malaga & Marbella, do not hesitate to contact us. We will accompany you throughout the process of buying new construction or resale.
