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All you NEED to know About buying property in Spain!!!

Posted by admin on 11.07.2019
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Purchase Steps

1. First of all we will find a property that will satisfy all the requirements and criteria that you have.

2. After negotiating the best price for you, we will sing the reservation contract. Between you and our company, at which point you will need to provide us with the reservation payment. Payment amounts and time frame for finishing the deal varies form deal to deal. All negotiable.

3. The following steps will be done simultaneously:

Making sure there is no debts and all the papers are in order,

Opening bank account,

Getting the NIE (identification number for foreigners), this step is very important and will long waiting line better to be done ahead of time. Even prier to finding the right property,

Scheduling the deal with the assessor- spanish lawyer,

Transferring the money left to finish the deal to your spanish bank account, ordering check for finishing transaction.

4. We also offer legal support for all deals, execution of a mortgage loan, residence permit and other services. You should also be prepare for the cost that will be on you besides the purchasing of the property itself. See below:

  • a. The tax is equal to 10% from the cost of property. This we can help you to post pone up to 1 year or brake into payments, additional charge of 50€.
  • b. Payment for notary services, register, preparation and execution of documents will vary depending on the city of the singing any were between 800-1500 euros.
  • c. Getting NIE number including setting up appointment and escorting for applying 100€
  • d. Registration of NIE number with tax office 40€
  • Obtaining Secundo Acupacion certificate, necessary for changing water contract 320€
  • d. Changing electricity contract to your name 150€ if no need in installing new water meter, 300€ other way.
  • e. Changing water contract to your name, 150€ if no need in installing new water meter, 300€ other way.
  • Registration with comunidad 20€.
  • Registration with tax office IBI 30€.

All the Expenses above beside the notary you can do yourself or look for other company that can help you.

The cost of your residential property will vary base on the city and your personal usage but to have an idea look below:

  • IBI tax : €100—250€ per year.
  • The tax if you aren’t a resident: €20—100.
  • Comunidad: from €10-50€ per month.
  • Water: from 15€ min using or not.
  • Electricity: from 15€ min using or not.

There is noway to include all the procedures and paperwork, needed for purchasing a property, in one article. And there will be plenty of questions you want to be answered. And we will gladly answer them all and will provide you with all the information so that the process of purchasing the new property in foreign country would not seem so scary and complicated!

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