Out There Blog

Fears of hidden fees, high commissions and dodgy developers are certainly common, but is buying a home in Spain really such a risky venture? It may have been once, but standards are massively improving thanks to conscientious companies like Pearl Overseas, recently launched by Facilisimo, the major Spanish property portal.

They say a pearl is formed from a single grain of sand, and Facilisimo’s single idea was to offer British buyers the local-knowledge advantages enjoyed by Spaniards. This unique idea grew into Pearl Overseas.

Firmly on the side of the buyer, Pearl Overseas caters to Britons looking to buy with confidence. After hearing all those Watchdog horror stories, homebuyers are naturally concerned and confused about who to trust and which developers are reputable and why.

In such a climate, property companies that strictly demand high standards and promise to go through their developments with a fine tooth comb are worth their weight in gold.
Pearl Overseas is one such venture, as shiny-new and precious as its name suggests.
 If companies, like people, are judged by the company they keep, then Pearl Overseas boasts the highest of pedigrees. Its is working in partnership with Barclays Bank, well known and well trusted by millions of British consumers and the biggest foreign bank in Spain.

Along with Barclays, Facilisimo has joined forces with Premier Mortgage Services to deliver the first-class real estate service that is Pearl Overseas. This is a truly exciting venture because never before has a channel existed whereby Brits can buy in Spain with the local-knowledge confidence of a native Spaniard, coupled with a rigorous pre-vetting procedure that is somehow typically British.

Any potential homebuyer will tell you why pre-vetting is paramount. Dreaded scenarios include the one where you’ve invested your savings in a seemingly dream house only to discover that it isn’t properly insured, the plumbing is dodgy or the developer is teetering on the edge of bankruptcy. It is common sense to have the house scrutinized beforehand so you can move in with the assurance that nothing can go wrong.

Unfortunately few companies are genuinely selective in terms of which properties they will and won’t have on their books. This is where Pearl Overseas is vastly different to most – it ensures that all its properties have undergone a strict due diligence process before being made available. This is carried out by an independent law firm, whose impartiality is vouchsafed by the fact they represent the buyer rather than the developer.

In short, they act in the homebuyer’s best interests. This is a striking departure from the usual modus operandi of developers, whereby ‘impartial’ law firms pre-vet properties on behalf of the developers themselves. Nevertheless, this high standard does not mean impossibly high prices – there are houses and apartments to suit every purse, with properties starting at £100,000 (from which the azure sky is the limit). Its 20 or so developments, containing around 1,500 residences, sit in areas beloved of British tourists such as the Costa Blanca. But apart from the traditional haunts, it offers properties in up and coming areas like Almeria and Costa de la Luz.

As Pearl Overseas expands to 150 developments, the bar will be raised and standards set to an all time high, providing safer investments for British customers either buying to let, retiring, or setting up a summer retreat where they can sip sangria and escape the British summer.

With the arrival of Pearl Overseas, property disaster stories and ropey contracts look set to become a thing of the past.

To find out more visit Pearl Overseas