Benefits of Owing and Timeshare Resales

Sell timeshare:

They provide a kind of comfort, security and benefits of excellent accommodation facilities with customers having their own preferences of tourist destination and often want to visit these places every year at a fixed time. They can manage the rush of tourists to these places and makes it possible for people to get accommodation in desired places especially during peak tourist seasons. People can enjoy the properties whenever they are on vacation at a fixed time of the year every year. along with accommodations in luxury resorts and amenities like swimming pools, basketball or tennis courts, libraries etc. When people want to opt for a new tourist location or simply change the time of visit, Sell timeshare process can be followed by which they can just transfer the ownership to another timeshare owner and trade weeks with them in exchange for their properties. The main advantage of this concept is that worries about accommodations needs not to be done but just to pay the fees one time only and can enjoy the benefits as long as ownership doesn’t get over. Their prices are excellent and often discounts are also offered.

Timeshares for sale:

There are usually many amenities to take advantage of when staying in own time share. Pool passes, club house memberships, golf courses, private docks, and other amenities that make families vacation even more enjoyable. Timeshares for sale process can also be done in a community that has a lot of families. Timeshare process gives families many opportunities to make friends and create wonderful memories. There are many time share communities and other vacation spots that people may want to visit. They always come up with the solution of offering timeshare properties which give people shared ownership of these properties for a certain fixed period on paying a certain price, mostly one time. Direct Transfer of timeshare contract allows to get out of timeshare quickly. But the major disadvantage is that getting rid of timeshare properties is difficult. When people feel that they cannot afford to maintain the property, they simply sell it which in turn means business for the timeshare companies. Often when they want to transfer the ownership they do-not have to face harrowing experiences of paperwork, find a suitable buyer easily, communicate with the companies, pay additional fees.

Timeshare Resales:

They creates substantial savings over renting and provides superior vacation value. They do-not allow people to pay more for a hotel room than what it costs to stay in timeshare. Instead of paying for a room, people can receive a fully equipped spacious vacation timeshares which include kitchen, living room, bathroom, one or more bedrooms and a private balcony or patio. Some come with hot-tubs and fireplaces adding towels, linens, TV’s, kitchen utensils and maid service. By pre-paying future accommodation expenses at today’s prices, people are saving on the higher cost of future vacation lodging. The timeshare is owned by the owner year after year under he decides for Timeshare Resales. The advantage of timeshare is that the owner has the opportunity to vacation in the same resort location year after year. If he would like to visit a different location, then the owner has the opportunity to trade in his timeshare week in exchange for a different location of similar value.

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Benefits of Owing and Timeshare Resales is a post from: Sell Time Share | ResaleReview.com

When we are looking to sell our own home, it is extremely easy to find a real estate broker. There are many to select from, you can likely name the most prominent ones local to you right off the top of your head. But now you may be asking, “Can I sell my timeshare?” Well there is information you should about regarding how to sell your timeshare.

It is crucial to understand that most standard real estate companies do not have any experience in how to resell timeshares. Perhaps you may find some in the popular holiday destinations like Florida, but for the most part, you will need to locate a specialist broker.

It should be noted that you can’t be too hopeful regarding the value of your timeshare. Regardless of the information you received at the time of purchase, a timeshare should never be bought as an investment. Valuations are generally around 30% – 50% less than the original price, so you cannot expect the value to have risen– far from it. Having said this however, the majority of those who purchase timeshares buy to them to enjoy, which is what holidays are for – to enjoy!

Finding the right broker is really important so you need to make sure you do your research carefully before deciding on which one to use. The first tip is that you should find a broker close to where your property is. This may seem obvious, however a lot of people will actually choose a broker where they live, which might be thousands of miles from the timeshare, and they have no clue what it is worth or how to attract people that come into that area.

The company you choose should be professional and be maintaining a good reputation in the area. Ask them for references and/or contact details of customers they have helped in the past. If they are comfortable giving this information to you, that is a good sign. Be sure to follow up with these details and ask the broker’s clients what their experience was like with this broker.

Also, find out which timeshares in your development have recently been sold and then ask around to see if you can find out who sold them. You are trying to find a company that has experience with how to resell timeshares. Ask lots of questions, like, how do they advertise, and what are the average timelines for selling in your area.

Now, of course, cost is probably the most important consideration. You need to beware of brokers who ask for high costs up front, you should find one that doesn’t ask for this. All brokers work on commission, but each one will charge you differently, so you need to find out exactly what all their fees are, including taxes, then carefully compare them with others. When you have collected all this information, then you will be able to make your decision about exactly how to sell your timeshare.

Whichever broker you choose, it always beneficial to get some valuations beforehand. Especially if you are trying to sell your timeshare for cash. This will arm you with knowledge before you approach a broker, to be able to discern whether or not they are advising you according to your best interests.

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Selling Your Timeshare: Choose A Broker That Is Good For You is a post from: Sell Time Share | ResaleReview.com

How Do I Sell My Timeshare?

Many timeshare owners are asking themselves this question – “How do I sell my timeshare?”. The truth is there are no easy answers. You have to keep your expectations realistic as it is a buyer’s market out there and you would be very lucky to get a good price for your timeshare. But if you feel the need to get rid of your timeshare as soon as possible, here are some things you should pay attention to.

What to Keep in Mind when You Sell Your Timeshare

You can ask the resort for help. Some properties have a newsletter or a website where timeshare owners can advertise listings either for sale or exchange. Take a look at the prices quoted to get an idea of the value of your timeshare. Then list your timeshare with an asking price is within the range quoted by other sellers.
Don’t get scammed by timeshare resale companies that do not deliver on their promises – and there are many of them out there. There are a lot of firms that promise you they will sell your timeshare for a good price in no time at all. Some will charge an upfront fee for their service, but ultimately fail to deliver.
In case you choose a timeshare reseller to help you, select one that provides its service on a commission basis after the sale is completed. Negotiate for the rate. Look out for extra charges mentioned in the fine print. Also ask for and follow up on references. If you have a deeded week, the sale must be closed with a legal title company, just as in the case of a home sale. There are many reputed title companies specializing in timeshare sales that you can choose from.
Be careful not to sign an agreement with the timeshare reseller that obligates you to sell exclusively through them. Before you sign any document, read through it carefully.

Options Other Than a Sale

Renting your timeshare is a good option until you get a buyer. If your pricing is right, you may end up with a repeat rental income that can add up to a significant amount.
Exchanging your timeshare is another option you can consider. For an annual fee, you can list with a timeshare exchange company and trade with other owners at timeshare resorts around the world.
Donating your timeshare to a charity will qualify you for tax deductions and you will also get rid of the burden of maintenance fee once and for all. Charities generally auction the timeshare to raise money.

Remember not to act in haste when the thoughts of ‘I have to sell my timeshare‘ keep plaguing you. You cannot expect to find a suitable buyer immediately. Take an informed decision only after evaluating all the options. Or look for a reliable company that can help you get rid of your timeshare.

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How Do I Sell My Timeshare? is a post from: Sell Time Share | ResaleReview.com

Copyright (c) 2010 Richard Marquette

(This submission is intended to provide only general, non-specific information. This article is not legal advice and is not intended to be taken so. This article may not cover all the issues related to the topic discussed. If you have any legal questions, you should always consult with an attorney familiar with the process and the laws in the state where your property is located.)

Congratulations! You’ve reached a purchase agreement for a deeded timeshare…….. Now what do you do?

First of all, it is vital to remember that every timeshare closing has two basic parts; the completion of the transfer documents and the completion of the developer or HOA process requirements.. If you don’t complete both parts- your transfer won’t be completed!

I strongly recommended that Buyers and Sellers use a contract that details the full terms and conditions of the sale before you proceed to the closing. Each state may have various legal requirements and disclosures that should be included in your contract. Your resort management may be able to give you a referral to a preferred title company or attorney to assist you with the closing process for your timeshare. If the offer was made through a brokerage, your sales agent should walk you through this entire transfer process (hint, hint…..nudge, nudge… wink, wink….).

Each states legal requirements for a binding contract may vary. If you’re not sure, always consult with your legal counsel..

I recommend you address the choice of a third-party closing agent in your contract. Normally, the party paying the closing costs has the right to choose the closing company and escrow agent. I never recommend that you accept a closing agent with a direct relationship to the other party in your sale. An impartial closing agent who is familiar with your specific resort can be the most important part of your transaction! The transfer process itself can vary greatly by resort, and you should always confirm that your closing agent has experience with your particular resort.(Remember, as a Seller you’re responsible for the property until the transfer completes and as a Buyer you can’t get access until everything is finished- you don’t want to wait while your closing agent learns through trial and error!)…. A closing agent may be able to provide you with references of past clients for the same property. I recommend that you choose a closing agent that is able to provide title insurance, or that offers deed preparation from an attorney licensed in the state where the property is located.

Your contract should also address the issue of an initial good faith deposit from the Buyer. This money should be placed into an escrow account within a specified period of time. Cancellation penalties for both parties should be defined in the written agreement, as well as instructions for the escrow agent to disburse funds in the event of default.

A specified closing date is also strongly recommended! Always allow a reasonable period of time. Closing durations can vary greatly by resort. For some closings, the transfer may be able to be completed within thirty days. There are also resorts which may take six months to a year for completion!

When you have both executed the purchase and sale agreement, you will proceed to the verification and estoppels process. During this process, the ownership details will be verified for the buyer, and the exact transfer processed required by the developer discovered (Even if you’ve completed a prior transfer at this resort in the past- verify the process again! It’s common for a developer or HOA to change the requirements without notice!).. Never trust a verbal estoppels.. Request everything in writing to protect both parties! The Buyer should always request a copy of the estoppels document to review prior to closing.

Many developers have a Right of First Refusal for resale contracts at their resorts. You will provide a copy of the sale and purchase contract to your resort management company. Most will have a set period of time while they consider the transaction. You should always receive a written waiver that should be submitted to the county clerk for recording with the new deed. There may also be various other procedures that your developer may require such as buyer pre-qualification, prepaid transfer fees, etc. If the resort exercises their right of first refusal, the developer will then replace the buyer in the transaction. If you are the Seller, all the terms of the original contract should still be followed- you simply have a different buyer. If you are the Buyer, any escrow deposits you made should be released back to you and you start looking again!

You should not confuse the estoppels and verification process with an opinion of title. I always recommend a title search be ordered for each transaction. The estoppels can provide you with verification of resort controlled issues such as maintenance fees and assessment balances, unit type, usage type, etc.. The estoppels will not be able to confirm clear title can be transferred. Liens, judgments, bankruptcies, etc. can all wreak havoc for a Buyer- and often will not be discovered until long after the transfer took place. Locating a Seller years after a closing to clean a title issue is often impossible.

When the verification process is completed, your title agent will prepare the final closing statements along with the new deed for execution. Follow the execution instructions completely! Each state may have different requirements, and your closing agent should provide you with specific instructions to sign your full name as shown on the document, and to provide for proper witness and notary requirements as needed. Failure to do so could result in the deed being rejected by the county or the developer.

The executed documents will then be reviewed by the closing agent and submitted for recording into public records, along with any tax related notifications. Time frames can very widely- but your closing agent should be able to give you an estimate for how long this process will take. If you want to close quickly, you may want to request and pay for an expedited delivery service- as often the county clerks will process these ahead of general mail deliveries.

Once the deed has been recorded and the local assessor notified of the ownership change, the resort must be now notified of transfer. Your closing agent will finalize the transfer process by submitting a deed copy (and any other specific resort requirements such as a transfer fee payment) to the developer or HOA to acknowledge the ownership transfer. This internal process can at times be the most frustrating delay you will face. Transfer times can vary by transaction, and can range from a few days to several months. As before, your closing agent should be able to provide you with an estimate of completion- and should have scheduled a follow up call with the developer or HOA to confirm the ownership has been transferred. Some resorts will send out a new owner information packet to notify the Buyer, but many do not provide any formal welcome letter. Sellers generally will not receive any type of notification of completion from the resort, so be sure to save copies of your correspondence with the closing agent!

Transferring a timeshare ownership can be a complicated process, but when done properly it should be a step-by-step progression that follows the above outline.

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Basic Closing Process for Deeded Timeshare Ownerships in the United States is a post from: Sell Time Share | ResaleReview.com

What are Timeshares?

It worked well, and the idea spread throughout the world.1

There are two main types of timesharing plans: deeded and non-deeded. With the deeded type, you buy an ownership interest in a piece of real estate. In the non-deeded plan, you buy a lease, license, or club membership that lets you use the property for a specific amount of time each year for a stated number of years. With both types, the cost of the unit is proportionate to the season and the length of time you want to buy.2

Before You Buy

As with any major purchase, you need to understand what you are getting before you sign any papers or pay any fees. The general information should be accompanied by careful analysis and perhaps even professional advice that concerns all aspects of a particular timeshare purchase.

Before purchasing a timeshare consider the following points.3

* A major reason people buy timeshares is for the convenience of having prearranged vacation facilities. Therefore it would be wise to determine whether you will be able to use the timeshare facility regularly. When evaluating a timeshare with units in several locations, consider whether sufficient units are available at the sites you prefer at the time you want to use them.
* Question any investment claims made by the seller. The future value of a timeshare depends on many factors. Resale of timeshares is almost impossible.4 So, if you are considering buying a timeshare, do it, realizing that you will probably not be able to resell it; and, even if you are able to sell, you probably won’t be able to sell it for anything close to your original purchase price. Closing costs, broker commissions, and financing charges also must be considered as part of the investment costs.
* The total cost of a timeshare includes mortgage payments and expenses, such as travel costs and annual maintenance fees. The annual maintenance fees usually rise to equal or exceed inflation and could add hundreds of dollars to the purchase price. To help evaluate the purchase, compare the total timeshare costs with rental costs for similar accommodations and amenities for the same time in the same location.
* Do not act on impulse or under pressure. Review all documents or have someone familiar with timesharing review them before you make a purchase. Do not be pressured into making a purchase without having a couple of days to think about it. Find out if the contract provides a cooling-off period during which you can cancel the contract and get a refund.
* Be sure everything the salesperson promised orally is written in the contract.
* Remember that exchange programs, which offer the opportunity to arrange trades with other resort units in different locations, cannot be guaranteed. When you trade your timeshare unit for another, expect one of approximately the same value.
* Many timeshare sellers offer gifts to potential buyers who will listen to a timeshare sales presentation. Consider the value of these gifts or prizes. Most are of little value.5 It would be to your advantage to attend a sales presentation only if you are interested in the program.
* Your timeshare will be a good place to vacation only if it is run properly. Therefore you should consider researching with local real estate agents, Better Business Bureau, and consumer protection offices, the track record of the seller, developer, and management company before you make your purchase.
* If you are considering buying a timeshare on property where the facilities have not been completed, get a written commitment from the sellers that the facilities will be finished as promised, and require that a certain amount of your money be held in escrow.6
* Find out what your rights are if the builder or management company has financial problems or in some way defaults. Make sure that your contract has both non-disturbance and nonperformance clauses. A non-disturbance clause ensures that you will continue to have use of your timeshare unit in the event of default and subsequent third party claims against the developer or management firm. A nonperformance clause allows you to keep all your ownership rights even if a third party is required to buy out your contract.
* If you have any questions or complaints regarding timeshares or a timeshare that you have purchased, contact the Real Estate Commission of the state in which the timeshare property is located, as well as the Correspondence Branch, Federal Trade Commission, Washington, DC 20580.

How Timeshare Resale Scams Operate

If you already own a timeshare, be cautious about people who offer to help you resell the timeshare for a fee. Because many of these types are rip-offs, be careful to deal only with legitimate sales companies. Companies that use questionable resale practices operate like many other telemarketing scams. You might be contacted by a telephone salesperson or through a postcard, asking you to call a particular telephone number about selling your timeshare. The salespeople are likely to tell you that the market for resale of timeshares is “hot” and that their company has a high success rate in reselling these units. They may even claim that they have extensive lists of sales agents and potential buyers for timeshares and for an advance fee of hundreds of dollars these salespeople promise to sell your timeshare for a price equal to or greater than the amount you originally paid.7

The market for resale is actually extremely poor, because there is no secondary market for timeshares.8 Currently American consumers own 1.5 million timeshares. Approximately 870,000 of these are presently available for resale, with 845,000 for sale far below the original purchase price. In truth, over the past 20 years, only 3 percent of owners who have wanted to sell their timeshares have been successful, and the vast majority of those have had to sell below their original purchase price. So, it is highly unlikely that a company can sell the timeshare at all, let alone for the original purchase price.

There are some precautions to consider if you decide that you want to resell your timeshare and are approached by a resale company. (1) Do not agree to anything over the telephone. (2) Ask the salesperson to send you written materials to study. (3) Ask for company references of customers who have used their services. (4) Ask where the company is located and in what states it does business. (5) Ask if the company’s salespeople are licensed to sell real estate by the state where your timeshare is located, and check with the state licensing board to verify the information. (6) Be cautious of any company charging an advance “listing” fee for its service.9

Conclusion

Timesharing is not an investment product and is not intended as a way of making money. It is, though, a financial commitment to your leisure enjoyment. So, how much is leisure and preplanned vacation time worth to you? This is the question that must be asked before you decide to buy a timeshare. If it is not worth thousands of dollars in initial investment, plus hundreds more in maintenance fees, then you should probably stay away from timeshare promotions. But if, on the other hand, you enjoy preplanned vacations and realize that timeshare is not a money making investment, then it may be a good choice for you.

What are Timeshares? is a post from: Sell Time Share | ResaleReview.com

Nice 2 bedroom townhouse for sale in La Siesta, located at the end of La Siesta in a quiet urbanisation with a nice communal area with swimming pool. The property has a nice sized tiled patio, leading to the dining area and lounge. To the right is the American kitchen and utility area. Upstairs on the second floor you will find the main bathroom between the two bedrooms. Going up another level – you will reach the large sized solarium which has nice views of the lakes. The urbanisation is located right next to the natural park. This property has been recently reduced for a quick sale, original price was 89995 euros – now only 71995 euros, reduced by 20%. Contact the Resale Centre for more details or visit www.resale-centre.com property reference: RSC983.

Bargain La Siesta Property For Sale – 2 Bedroom Townhouse, Costa Blanca is a post from: Sell Time Share | ResaleReview.com

Timeshare Resales at The Plantation House Resort

Located on the tip of Captiva Island, Plantation House is surrounded by a bay, Redfish Pass, and the Gulf of Mexico. The resort has a yacht harbor, a boat ramp, a marina, and a sailing school. You’ll also find a nine-hole golf course, tennis courts, a swimming pool, and a picnic area on site. In the evening, enjoy one of the area’s many fine restaurants. Guests have a choice of a variety of timeshare resales at The Plantation House Resort timeshare Resort.

In addition to the reservation opportunities at the resorts featured in out Resort Collection, membership in Hilton Grand Vacations Club is further enhanced through our partnership with leading exchange companies. Members enjoy the familiar comfort of spacious accommodations while exploring dazzling destinations at over 3,700 resorts in more than 100 countries. Whether for a few nights at a time, or for week-long stays, an extraordinary collection of exchange resorts awaits our Member’s discovery.

At Hilton Grand Vacations, we understand that vacation preferences vary from person-to-person and family-to-family. Our affiliations with renowned travel partners offer Members the chance to indulge their spirit of adventure and explore the world.
Have you been dreaming of setting sail to exotic ports-of-call on a luxurious cruise vacation? What about a photo safari in the wilds of Africa? Are you a road warrior and ready to introduce your family to the sights and sounds of the American landscape?
How do waves lapping along the side of your own private chartered yacht sound?

Immerse yourself in a truly unforgettable island experience at South Seas Club. In the heart of South Seas Island Resort, this charming property provides immediate access to all of the resort’s extensive resources, including golf, tennis, marina facilities, a recreation center, and superb shopping and dining. Guests indulge in sweeping views of the adjacent golf course and the turquoise waters of the Gulf of Mexico, as well as the seclusion and tranquility for which Captiva is well known. The fun continues beyond the beach, where delightful shops, restaurants and cultural activities are plentiful on both Captiva and Sanibel islands.

Located at the tip of Captiva Island, Plantation House is built on the site of the original manor house at South Seas Resort. Designed to blend with its surrounding beauty, the resort architecture incorporates detailed natural wood and ‘Old Florida’ tin roofs. Your vacation provides a perfect opportunity to explore all the amenities available at South Seas Resort, including golf, tennis, a recreation center, marina facilities, shopping, and dining. Check out the timeshare resales available now.

To learn more about how to purchase timeshare resales at The Plantation House or any other worldwide timeshare resales, please call Mark Nayman at 800-555-1353.

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Timeshare Resales at The Plantation House Resort is a post from: Sell Time Share | ResaleReview.com

The Marbella Property Buyer’s Guide – a Step-by-step Guide for Property Buyers

Christopher Clover is the founder, owner and Managing Director of Panorama, Marbella’s longest established real estate agency.

The buyer’s problem in finding the right property, negotiating its purchase and closing the sale is much more difficult than in one’s own country. As in most resort areas, everybody seems to be in the business, from the taxi driver to the hall porter in the Hotel. Property is everyone’s favorite subject of conversation. And almost everyone has an opinion, many of which can easily confuse a potential buyer.  Where to start?

Finding a property 

Some people spend years looking for a property. Others are lucky enough to find a property and have the confidence to purchase on their first visit to Marbella. Yet others need to take their time and view properties during three or four trips, until they feel really comfortable with their eventual decision. 

What type of property are you looking for, and in which area?

Many potential buyers think they are looking for one type of property and end up choosing something totally different. Unless you are very clear about what you want and are equally sure that it exists, look at various types of properties in different residential areas with an open mind. This exercise will also help you build up your knowledge of market values in the area, a major advantage in negotiating and ensuring that you are getting fair market value for your money when you buy. 

Choosing a reputable estate agent can save you time and there are many highly qualified agencies on the Costa del Sol, alongside more opportunistic and less qualified ones. In the past, qualified agents have either been APIs (Agentes de la Propiedad Inmobiliaria) or GIPEs (Gestores Inmobiliarios), but recent legislation allows anyone (!) to open a real estate agency. It is therefore extremely important to look for an established, experienced agency with an excellent track record and good recommendations from non-interested parties. A recommendation from your lawyer or a long-time resident should point you in the right direction. 

Good agents will really listen to you and interpret your requirements. They will share their market knowledge and  experience with you and, if they exhaust the properties suitable for you from their direct portfolio, they will work with properties from the portfolios of collaborating agencies to find the right properties to offer you. Key qualities to look for in a good agent are: experience, professionalism, product knowledge, sincerity, good communication, a friendly desire to help you in any way possible in your property search and, above all, not pushy! 

If you do not feel comfortable with your agent you shouldn’t hesitate to move on. But when you find one who is easy to work with and understands what you are looking for, stay with that agent until you find the right property, or until you are satisfied that you have been offered all the properties available through that agency and its collaborating agencies. Sticking with an agency motivates the agent you are working with to pull out all the stops and come up with the right property, as well as saving you from having to tell the same story to every new sales agent you approach.

A few points of advice

Compromise always pays dividends

It will be almost impossible to find exactly what you want, even if you build it yourself and if you do find it, don’t be sure your partner will agree with your choice. Find a property that you are both happy with (even if this means compromise!) 

Do you mind being a pioneer?

If you want to buy in a new or not fully built-up area, remember that empty land plots will be built on one day and that you may find yourself in the middle of an ongoing construction site for many years to come. 

Protect your investment

Make sure you have enough land around you to protect your privacy and views from a prospective building project. 

Ensure the protection afforded by the law is given to you

If you are buying property under construction, the developer is legally required to provide an insurance policy or bank guarantee to protect your payments in the event of incompletion. The developers must also provide proof of ownership, as well as planning permission and licenses, and since 2002, an insurance policy against building defects. A lawyer experienced in property transactions will anticipate these items.   

Buy for your own use first and foremost

Unless you are absolutely sure that your children or grandchildren will visit you, it is generally a mistake to buy with their use as the main consideration. Time and again, people end up selling their enormous homes when their family doesn’t visit as often as envisaged.  Purchase primarily for your own use, taste and objectives. 

Realistically analyze the potential costs of modernizing an older villa or apartment that has romantically taken your fancy

Reforms and unexpected repairs can be expensive surprises. That said, second hand properties will often have a better location and may be less expensive than newer properties.

Look at comparables

The best rule for determining the value of a property is to take real sales prices of comparable properties recently sold. To enable you to do this your agent must have very good market knowledge. It will also help to have seen enough properties yourself to get a basic knowledge of the market. 

Think ahead to the day you sell

A property bought today is an important part of one’s assets. It is therefore advisable to take into account not just personal preferences but also general investment criteria, such as location, design factors, quality of finishes and facilities.   

Negotiating the purchase 

Your agent may not be as skillful in negotiating the price of your offer as he or she was in helping you find the property in the first place. Don’t hesitate to seek out the Sales Director or Managing Director of the agency to help you negotiate your purchase. Experienced estate agents are generally better at handling the commercial elements of a sale (this is their job) than lawyers are, and will do their best to bring what are often opposing viewpoints (yours and the seller’s) together in harmony, as any good negotiator should do. Your lawyer can always be consulted during the negotiation to ensure that the offer meets his or her legal criteria, and become actively involved in more complicated negotiations. 

In making an offer it is important to feel out the bottom price of a seller but at the same time qualify yourself as a serious bidder. Too low an offer will not engage the interest of the seller, and might prove counter productive. 

Try to get all your negotiating points together at one time rather than negotiate piecemeal: this saves time and often, unpleasant surprises.

If your offer is too low, your strategy can boomerang and it may simply insult the seller, and you may not even get a response. It’s important to know how much property is really worth in the market, and to you. Find out if the seller has rejected other offers and what they were. What is the minimum offer that will engage his interest?

Make your offer in writing if possible (of course, subject to contract), and include not only the price, but also the deposit amount, when you are prepared to pay it, when you are prepared to complete, what you understand to be included in the price (for example furniture and fittings if applicable), and an often neglected point, that all machinery equipment and installations should be in good working order. 

Show the colour of your money to the seller. He will certainly take your offer more seriously if you have a healthy deposit ready for immediate action in a bank account in Spain. This is normally in the area of 10% of the purchase price. Many agents today also offer credit card facilities, wherein a small deposit from €5,000 to €50,000 can be taken to “seal a deal” with a seller, and the deposit remains in the agent’s client account during the week to ten days it can take the lawyers to prepare the private contract and a transfer of the 10% to arrive.

Municipal Added Value (Plus Valía) tax (the increase of the index value of the land since it was last purchased to its present sale). This tax corresponds, by its nature, to the vendor who is responsible for its payment, unless otherwise negotiated.

Measure the land you purchase. If you are looking to buy a plot of land and no topographical survey exists, it may be advisable to negotiate a “Euro per square metre” price subject to survey, to avoid any unpleasant surprises. 

Good psychology dictates that you should leave room to improve an initial offer. However, if you believe your offer is realistic and perhaps have a second choice in mind, it can be a wise strategy to let the seller know that if he doesn’t accept your offer, you will be offering on another property before considering any counter offer from him.

PROPERTY PURCHASE COSTS

TRANSFER TAX (I.T.P.) 7% - Payable by the buyer for the purchase of any Real Estate (villas, flats, land, commercial premises, garages), provided the vendor is not a developer or normally trading in the business of resale properties.

VAT and STAMP DUTY 7% + 1% – For any VILLA or APARTMENT, or GARAGE that is annexed to an apartment, where the vendor is a developer, promoter or habitual trader in these generally new properties.

VAT and STAMP DUTY 16% + 1% – For PARCELS OF LAND, COMMERCIAL PREMISES or COMMERCIAL GARAGE SPACES, where the vendor is a developer, promoter or habitual trader or a company. This covers virtually all NEWLY URBANIZED LAND PARCELS and NEWLY BUILT COMMERCIAL PREMISES. This only covers resale properties when the vendor falls into one of the above categories.

NOTARY and PROPERTY REGISTRY FEES - Approx 2.000€ for both. The cost increases according to the number of pages or complexity of the title deed, and value of the property.

MUNICIPAL ADDED VALUE TAX (PLUS VALÍA) - The Plus Valía tax (described earlier) can be as little as a few hundred Euros or as much as many thousands of Euros on a property with a lot of land that hasn’t changed hands in many years. This tax corresponds, by its nature, to the vendor who is responsible for its payment, unless otherwise negotiated.

LAWYER’S FEES 1% Appox. Lawyer’s fees are in the order of 1% of the selling price, more or less, depending on the lawyer and the price of the property.

Summary
The total official costs involved in purchasing a constructed residential property should be less than 8% for resale properties or less than 9% if VAT is paid on the purchase price, plus lawyer’s fees. 

When an offer is accepted, always get a lawyer to check the land registry (the last word on property ownership, where any liens and encumbrances will show up). He will prepare a private contract that will bind both parties to the deal, and eventually prepare the public deeds for signature in front of a Spanish Notary, when the balance of the purchase price is paid and vacant possession of the unencumbered property is granted, thereby completing the sale. There are excellent lawyers in Marbella, most speaking fluent English and other languages. The best way to find one is by personal recommendation, or by asking your agent. 

Of course, many of the above comments are more intended for the purchase of resale properties, as new developments have a fixed price list and payment schedule, often with very little room for negotiation, at least with respect to price. Sometimes some extras or modifications can be negotiated within the purchase price, depending on the policy of the developer.

In summary, finding and buying a property in Spain can be as simple, or as complicated a procedure as one wants to make of it. The old rule of Caveat Emptor, (Let the Buyer Beware!) always holds true. And a final tip: listen to your intuition! It is often one’s best guide!

By Christopher Clover

Copyright © 2007 Panorama Properties S.L.

All rights reserved

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Questions to Ask When Selling Timeshare

When selling your timeshare company stability and viability are very important. As such, you will want to know how long the company has been in the business of selling time shares. If they are new to the process you will do yourself a favor by moving on to a more experienced reseller. If the company has been in business for a long while, that still doesn’t necessarily mean they will be a good company to use. You will want to know what their monthly average is in selling time shares and what kind of time shares the specialize in if they do specialize in one. Find out if they will give you references that you can call.

Find out as much as you can about their advertising campaign. What are they doing in order to attract potential buyers and what kind of exposure will your timeshare property have. Compare what the company will be charging you with what you are to receive for that charge.

What do they believe sets them apart from the multitude of other entities vying to sell your property. What in particular do they do that will potentially sell your timeshare faster than other providers? No not be lulled into a sense of security by a sales person telling you that your particular timeshare type is in such great demand that it will sell itself. Get an idea of what their sales strategy is and a ballpark idea of how long your timeshare may take to sell.

Do not sign an exclusive right to sell  unless you have complete faith in this company’s ability to sell your property, otherwise, make this an open agreement that allows for other agencies to sell the property. In the same vein, if a company gives you a verbal guarantee that they can sell your property in a specific amount of time for a set cost, they are in all likelihood up to something. No company can guarantee that they will sell your property in a specific time for a specific price unless they intend to purchase the property should it not sell.

In the current economic climate, timeshares are not high on the purchase priority list for many people, because of this, the timeshare market has suffered just as much if not more than the traditional real estate market. If you are trying to sell your timeshare in this marketplace, be prepared to either sell at a greatly reduced value or be prepared for a long time on the market.

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A nice sized 2 bedroom and 2 bathroom townhouse for sale just 3KM from the main town centre of Torrevieja, a short drive away from the award winning blue flag beaches of the Orihuela Costa and close to amenities, bars, restaurants and shops. Nice sized lounge and dining area, with a downstairs bathroom, separate kitchen with utility / storage room. Upstairs you will find the two bedrooms and main bathroom. On the third floor is the solarium with views of the surrounding salt lakes. The property comes fully furnished to a good standard, and is now marketed for only 79995 euros – reduced from 99995 euros for a quick sale. Contact the Resale Centre on (+34) 965 714 031 or visit www.resale-centre.com – property reference RSC981.
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www.fincalinkup.com bring you this amazing bargain property near the town of Torrevieja. Only 30 minutes to either Alicante or Murcia airports and 5 minutes to the beaches. This property is being sold at a truly amazing price and you need to be quick to get it. It has 2 bedrooms and enjoys a community swimming pool. It is within walking distance of many facilities and also has spectacular views to the blue lake. Contact us at info@fincalinkup.com
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How to Buy a Property in Brazil

This guide will assume that you have decided to buy a property in Brazil and explain the stages you need to work through to complete the purchase process successfully.

The first thing to know is that there are no restrictions on buying Brazilian property, with the exception of some designated areas near beaches or frontiers or other areas deemed as important to national security.

Apart from that, foreigners can only buy rural property if they plan to move to Brazil within 3 years from the date of acquisition.

So, you have found your ideal property in Brazil and want to know what to next:

Step 1: Reserve the Property with a Small Deposit

As with a massive proportion of overseas property purchases, the first step in buying a Brazilian property is to reserve the property. This involves signing a reservation agreement, and paying the deposit, which will usually be stated/agreed in advance of signing the reservation agreement, and also clearly stated in the reservation agreement itself. This deposit will be taken as part of the purchase price.

Step 2: Due Diligence

Before signing the contract (preliminary purchase contract if buying off plan, sale and purchase contract if buying a key-ready or resale property), due diligence is vital, meaning that buyers should minimise their risk by checking the following:

If buying from a company/entity:

Ask to see the company registration certificate.
Ask for proof that the signatory has authorisation to sign

If it is a private seller:

Ask to see proof of identity
If applicable make sure attorney of seller is authorised to sign on their behalf

If buying Off Plan Property:

Check the planning permission/consent
Check the building licence
Check all other relevant permissions for the commencement of the project
Ask to see at least one bank guarantee, insurance and/or assurance to ensure the completion of the project, or an escrow system to provide security for the buyer’s property payments
Enquire about the independent quantity surveying (QS) system during the construction period

In all cases:

Check the title certificate for the land
Check the administration certificate
Check any lien, debt, development finance, or encumbrances against the land and/or the project

It is best if the above due diligence checks be done through a local law firm or conveyancing lawyer. You should be able to get recommendations from previous buyers through online forums, but again, try to be sure of their impartiality, and/or seek multiple referrals.

Step 3: Obtaining Cadastro de Pessoa Física (CPF, i.e. Tax Code)

This is basically the Brazilian equivalent of the UK’s Unique Tax Payer Reference (UTR). It is basically a fiscal number, which must be obtained by anyone purchasing Brazilian property. It is a number unique to you that will allow the authorities to assess any tax owed, and allow you to pay said tax.

Step 4: Exchange Contract

After your due-diligence is completed and you have your CPF, you can exchange contracts with the seller. The first instalment will usually be required at this stage.

Step 5: Deed of Sale

The property transaction is finalised with the buyer and seller signing the Deed of Sale before a Notary (Oficio de Notas o Cartorio). The Notary’s duty consists of identifying the buyer and the seller, and ensuring that all legal requirements have been met, and that the amount due to be paid has been settled.

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