Property Buyer's Guide
Buying Property For Sale in Spain, whether it is always a very big decision, and of course, a serious commitment. A decision of that magnitude requires the best team of experts and advisors who know and understand the local property marketplace and can help you to make your all-important overseas property purchase.
The focus of SpainForSale.Properties service is on the sale and rental of preferred residential properties in the most sought-after locations of the Costa del Sol and other prime locations of Spain. Finding you a new or second home is our passion. Whether a Luxurious VILLA, a semi-detached TOWNHOUSE, a multi-generation house, an APARTMENT, a seaviews PLOT or a vacation luxury property – our excellent network of worldwide locations and direct, uncomplicated channels of communication allow our customers to access a wide selection of LUXURIOUS PROPERTY offers. It is important to us that you feel comfortable in your new home and that it meets your expectations one hundred percent. That is why the needs and preferences of our customers always come first in all that we do.
SpainForSale.Properties has elaborated a step-by-step guide for property buyers in Spain. 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.
Getting Started – is it possible for you to buy in Spain?
Buying a property and living in Spain is straightforward if you are a national from another EEC (European Economic Community) country. In fact, Spain encourages investment by foreigners, both resident and non-resident. You will require a financial number which can acquire by visiting a police station with your passport. This is typically done on the day for Spanish or EU citizens but may take a few weeks for others. If however, your nationality falls outside the Euro zone you may be able to buy a property but there might be time restrictions as to how long you can stay in the country. Furthermore, there are certain guidelines as to work permits for non EEC nationals. You can find out information pertinent to you by accessing the Spanish Embassy website or through a variety of internet websites. There are also specialist emigration organizations that will often do a free consultation letting you know your options.
Finding a Property For Sale in Spain – where should you start?
The Spanish property market has many pecularieties, and it pays to do your own property market research before buying a house in Spain. 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 really want, look at various types of properties in different residential areas with an open mind. Knowing what to expect when buying a property in Spain can help reduce any pitfalls of setting up your life abroad.
If you are looking a property in Marbella, Balearic Islands, Barcelona, Madrid or other Spain prime location search for property with SpainForSale.Properties – the best place to search for Spanish property. Home to sun, sea, beaches and tapas – and a long standing favourite with Brits – Spain holds strong as the most popular overseas destinations for holidaymakers and investors alike! The lure of the dream villa in Spain is still as strong as ever with more Brits having bought property in Spain in order to regularly holiday there or relocate permanently. With villas, fincas, apartments and larger houses for sale, there is a great range of property in Spain and SpainForSale.Properties is the best place to find the very latest property in Spain.
Once your Spanish property purchase is in motion, you do not want to be held back by delays, communication issues, or any confusion over the property completion. An independent, impartial, English-speaking solicitor with expert knowledge of Spain and the specific area in which you are buying your property is key to a smooth property purchase. Our team of lawyers will answers any legal queries.
The seller of a second-hand Property For Sale in Marbella , Spain should provide to the buyer the following documents:
– The title deed of the property
– Receipt of payment of the real estate tax for the last year
– Receipt of payment of the tax on the increased value of Urban Land
– Certificate that any community charges (if applicable) have been paid up to date
– Latest copies of domestic bills so that you can take over the services such as electricity and water
The seller or developer of a new property in Spain should provide to the buyer the following documentacions:
– Deed of declaration of new construction
– Occupancy permit
– Certificate of rateable value of the property
– Normally, before the purchase of a property is made official, there is a prior agreement drawn up between the buyer and seller. This document will identify the two parties and set out the terms of purchase. You can lose any deposit you have paid if you pull out of the purchase and there is a penalty clause in the contract. In the case of the seller defaulting then he has to pay twice the amount. When it comes to signing the contract, this has to be before a notary, in the form of a public deed. This ensures that the details are entered onto the public records.
Finance – how much does it cost to buy a property in Spain?
The process of buying a property in Spain usually runs as follows. First, the buyer makes an offer, usually through the seller’s estate agent. If this is accepted, then the buyer and seller sign a preliminary contract (contrato privado de compravento) and the buyer pays a deposit, typically 10 percent of the purchase price. The buyer then arranges any mortgage they require, although they should have already discussed their needs with the mortgage provider. The contract of sale (escritura de compravento) is usually signed in front of a notary, at which point the full sale price, taxes and other costs become due. In Spain the transaction costs of buying and selling a property are moderate, at around 15 percent of the property value. So, if your property price is 1,000,000 Euros it could cost 1,150,000 Euros (more or less) by the time you complete and take possession of the property. It’s important from the start that you clearly understand how much a property will cost you as this will determine what price range you can look at.
Some people need to take their time and view properties during four or five trips, until they feel really comfortable with their eventual decision. Others are lucky enough to find a property and have the confidence to purchase on their first visit to Spain.
Buying a property in Spain can be the ideal investment. However is one of the most important decision of your life. It’s also one of the most complex transactions you may ever undertake. If you have a question about buying property in Spain, please, feel free to contact a professional Real Estate Agent from SpainForSale.Properties. A property agent who knows and specialises in the areas of Spain where you want to buy can match your requirements more effectively and will make your property search and the buying process in Spain far easier. Having a trusted Real Estate Agency in the region, who can answer any questions or address any concerns you may have, means you can make the most of your time on your viewing trips in Spain and rest assured you are in safe hands.
SpainForSale.Properties s team members are at your disposal to answer any of your questions regarding the Spanish real estate sector. Send us an e-mail or contact us – we are delighted to help you. Or, if you prefer, you are also welcome to visit us in our shop at any time. Pass by and let us offer to you a professional advice.
We look foward to seeing you!
Puerto Banus (29660).
Marbella, Malaga, Spain.
Telephone: (+34) 952929636 || (+34) 619341469.