Most people believe that property for sale in Spain is a difficult marketing campaign for Spanish real estate agents. If statistics are to be believed, research companies are saying that at least 50% of building companies are out of business because of a sluggish housing market performance. The house prices in Spain have fallen and even sharper declines are predicted. Investors, who until a few months ago were still thinking that the Spanish housing market would not burst, have been proven wrong. Spain, the land which was once the most undoubtedly preferred choice for second homes, especially among British buyers, is now suffering from downfall and desolation. No one at this stage would dare to be tempted by any available property for sale in Spain…or would they?

Amid the clouds of despair with the Spanish housing market, there is somebody who manages to disagree. Beatriz Corredor, Spain’s housing minister is of the opinion that the property market should recover by the second half of 2009. Therefore, this time should be treated as an opportunity in disguise, especially for those looking for bargains in the Spanish property market. But is that being said to try and boost the property market and the Spanish economy? After all, it was Spain’s booming property market that considerably contributed to the overall wealth of Spain.

Property veterans tend to disagree with the Spanish housing minister. A period of about three years has been estimated by the market gurus, for the Spanish property market to recover from the slump, and the recovery process is anticipated not to be an easy one. As the forecast for the Spanish property market is not bright, is there any point in still looking for property for sale in Spain? Yes. The Spanish housing market is currently facing a slump and that fact is not a secret. The credit crunch has hit the country, which includes an increase in fuel costs and an increase in inflation, but buying a property for sale in Spain is still a possibility. If you’re not looking to make a short term gain on the property and willing to research carefully for a property, then there are bargains to be found, for example; properties in Costa del Sol, Mallorca and even Barcelona are now becoming available with an affordable price tag.

Property for sale in Spain is also great if you are a cash buyer, and although the exchange rate against the pound is low, it is still worthwhile investing in a Spanish property. When you do find your property for sale in Spain, do take legal advice, ensure your lawyer is registered and is fluent in the language. Be aware that like in the UK there are extra costs involved in buying a property, for example; the buyer will be liable for a transfer tax (IVA) and stamp duty. To change the deeds of the property into your name will incur costs, and in total expect to pay an extra 10% of the purchase price.

When it comes to buying a property for sale in Spain, a seller of a second-hand home should provide various documents that includes; the title deed of the property, proof that community taxes are up to date, and real estate taxes have been paid. For a new property you will need some different documents that include; a deed of declaration of a new construction, an occupancy permit, and a certificate of rateable value of the property.

In conclusion, an initial glance of the Spanish property market doesn’t look rosy. However, good property for sale in Spain can be still be found if you take the time to research different Spanish regions.

First off, watch some late night infomercials on TV. And possibly order some real estate tapes from Carlton Sheets. This will provide you with a positive upbeat attitude and a sense of false confidence that is essential in order to go bankrupt. Believe that after listening to some tapes, you can compete with people that have done this 7 days a week for years.

Second. For your first investment, buy in a city you know little to nothing about and avoid using a buyers agent who does know the city. Go directly to the sellers agent. The best way to make a truly horrible decision is to avoid any outside advice. The best part of this is that avoiding a buyers agent usually doesn’t save you any money since the selling agent simply makes more when you deal with them directly.

Look for a discount or a distressed property over a good long term investment. Late night infomercials and Carlton Sheets talk a lot about this. Getting equity at the point of sale. One thing about distressed properties with desperate sellers is that they frequently are in crappy areas with low appreciation rates. Buying a property at under market rate in an area with low appreciation potential versus a property in a good area is the kind of short sighted thinking that will really help you reach the goal of bankruptcy and foreclosure.

When you talk to people including your realtor, try to spend time talking about all the crap you learned from your book or light night infomercial. The more you listen to other people, the more you might get different perspectives and the higher chance you might learn new things. This could really hurt your chances of going bankrupt so avoid listening to anyone. Remember you know everything even if you only got interested in real estate last week.

Be positive to the point of stupidity. Alot of investors I know always think about how their situation would be affected by a 10 or 20 percent drop in the market before making a purchase. You should avoid this kind of thinking. You need to be blinded by greed. You should only fantasize about how you are going to double your money.

When calculating your monthly cashflow, assume that you will have 100% occupancy all the time and no maintenance cost. While you are at assume that its going to rain money tomorrow.

Also, be stubborn when renting your properties. Decide upon a number say $900 a month and refuse to budge. Come up with some bizarre logic about how the property deserves $900 a month. Lose months of rent having the property sit vacant instead of going down $50 on the rent. Instead of responding to the market make statements like “Well the markets wrong then”.

As you move closer to foreclosure, don’t alter your spending habits. Don’t move into a smaller house or cut spending. Act like nothing is wrong.

Overextend, overextend, overextend. Are you approved to buy one house. Why not buy 5, heck why not 20. Instead of building up a portfolio of properties over time, gaining experience along the way, just buy alot of properties next Tuesday.

Alot of people are getting into the foreclosure game. Their is no reason you should be left behind. Throwing caution to the wind and filling your eyes with greed and you should find yourself walking down the golden path to foreclosure.

This is not a definitive guide to foreclosure. Alot of people end up in foreclosure due to many things unforeseen events like unpreventable family illness, divorce or job loss. This is simply a guide to what I call elective foreclosure.

Once you’ve given notice to terminate your tenancy, there are a number of steps you must follow before you vacate your rental property.  If you want all your deposit monies back and/or be able to rent another property, follow our essential guide below.

1.  Clear up any outstanding rental payments to the letting agent/landlord and ensure you receive any money they agreed to pay you (again best to have this in writing) eg money for repairs you carried out, re-decoration etc.

2.   Make sure you cancel your rent payment in time and on the correct date as sometimes it can be hard and a lengthy process to get the monies back.

3.  Discuss with your agent about cancelling utilities including gas, electricity, phone/internet/cable, water, TV licence and your council tax.

4.  Ensure on the day you move that the meter readings (gas, electricity and water) are independently checked (you need to give 10 days’ notice).

5.  Don’t forget to change your address for everyone! Use www.moveme.com for help.

6.  Ensure your insurance will cover your items while they are being moved.

7.  Set up your utilities and services in your next home (you may be able to transfer your TV licence).

8.  Have all the keys ready to hand back to the agent/landlord on move out day. DO NOT give them to a new tenant yourself.

9.  Keep hold of your tenancy agreement and paperwork until you have had your deposit returned in full.

10.  Ask for a reference ‘to whom it may concern’ which states you were a good tenant and paid your bills on time.