Buying In Lanzarote

When choosing a property you should decide whether the property you are buying is intended for long term visits, permanently relocating or holiday lets and your choice of location should take into account your needs such as schools, medical services, public transport & amenaties.
Once you have decided on a property you will be required to pay a deposit which is usually 10% of the intended purchase price, the deposit is normally held by a lawyer, if for any reason you decide that you cannot proceed with the purchase you will forfeit the deposit paid, but if the seller changes his mind, the deposit must be returned to you in full.
 

When buying a property on a complex there is always a community association of which you must become a member, each property owner on the site own a percentage of the communal areas and is responsible for making a payment to the association for their upkeep, you should always ask how much the monthly payment is and whether the payments for your intended property are up to date.

When you buy a property you become liable for any ouitstanding bills, for example water, electric, local rates & community fees, you should always check that all bills have been paid.