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    WANT TO BUY A PROPERTY IN TENERIFE?  WORRIED ABOUT THE 'CREDIT CRUNCH'?

You may be concerned that investing in Tenerife is a financial risk however Tenerife is probably a much safer option than you might
think. Why? Because the one thing that the island has to offer that few can compete with is the fantastic year round climate.  
Whatever else goes on in the world the sun keeps shining in Tenerife. It's one of the main reasons why people from less hospitable
climates were drawn here in the first place. It's the reason why they still come in their thousands year after year and why they will
always continue to come.

Whether you are interested in buying a property in Tenerife as a holiday home or somewhere to live, work or retire to, the value of
your investment will always remain strong. The Tenerife lifestyle and wonderful climate plus the fact that the island is a mere 4½
hours from the UK will ensure that Tenerife will continue to be a popular destination for holidaymakers and residents.

BUYING YOUR PROPERTY IN TENERIFE

Buying property in Tenerife needn't be the painful experience it is often made out to be provided you follow a few common sense
rules and take the same care over any transaction as you would in the UK.  When looking for property for sale in Tenerife your first
stop will probably be a local agent. Generally, estate agents (inmobiliaria) in Tenerife don't expect exclusivity when selling property in
Tenerife which is why you will often see the same properties on offer throughout the island.  Most agents will help you ascertain the
legal status of any property you may be interested in buying. If you are buying from a private seller it is important you establish
ownership before entering into any formal arrangements. You should also be aware that in Tenerife  you are responsible for any
outstanding mortgages or debts upon purchase of a property  therefore it is essential you enlist the services of a lawyer to carry out
a detailed check before parting with your hard earned cash.

As a general guide when buying property in Tenerife you should add approximately 8% - 10% on top of the purchase price to cover
taxes, legal expenses etc.

All  transactions will ultimately  be completed at the offices of a local Notary. The details of the transaction will be translated for you
so that you fully understand what you are signing for. The Notary will check  the terms and conditions of the transaction.  By law  the
buyer(s) and the seller(s) or their nominated representatives should be present. If you cannot attend, you need to grant power of
attorney  to the person (Lawyer, Estate Agent, friend etc) representing you. If the seller has a mortgage, you will probably be asked
to provide a bankers draft made payable directly to the sellers bank to pay off the mortgage.

One of the most important points to remember when buying property in Tenerife is not to be rushed into a decision. Think carefully
about your requirements and try to tailor your choice to suit your needs.  Are you looking for something right in the midst of the
hustle and bustle or do you dream of a quiet, tranquil getaway? Is the property going to be your permanent home or your winter
retreat? Is the property solely for your own use or do you intend to rent your property out to other holidaymakers to provide an
income? Are you looking for a retirement home or a business venture? Whatever your plans, Tenerife has properties to fit all of the
above, however only you know exactly what you have in mind for yourself so be careful to take time to make your choice wisely.

Due to the extensive development of Tenerife over recent years there are a wide range of properties in every area to fit every
budget. Once you decide on a particular area of interest it shouldn't be too difficult to find a property to match your requirements.
We at Essential Tenerife can help you locate a property and guide you through every stage from initial viewing to completion.

To view a selection of properties currently for sale in Tenerife visit our PROPERTY PAGE.  

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BUYERS INFORMATION