How can we help you to purchase a property in Spain?
We will assist from A to Z as soon as you start looking for a property, until your property deed is in your hand and the keys are in your pocket.
we work with all the well known real estate agencies in Spain and we will make sure you will find the property that suits your needs and wants whether it being residential or commercial
Private Purchase Contract
What is the private purchase contract?
A contract signed between the vendor and the buyer prior to completion of the final purchase to legally formalize the initial purchase agreement between the two parties.
How do we protect you?
We will review the contract on your behalf prior to you signing it and explain its terms and conditions and make sure to review all clauses to make sure that your interest is protected. We will provide you with valuable advice on whether or not it is in your interest to sign the contract in its current format.
Power of Attorney
What is Power of attorney?
The Power of Attorney is a document that gives authorisation to your lawyer to act on your behalf. A condition of every POA is that all actions taken on your behalf must be to your benefit.
What do we do for you?
We will explain the content and ramifications of the Power of Attorney and provide a translation. We will ensure you are entirely aware, informed and comfortable with the document prior signing it.
Due Diligence
What is due diligence?
Research that must be carried out prior to the purchase of a property in Spain.
The research conducted will be dependent on whether the property is a new-build or a resale.
What do we do for you?
We will undertake a comprehensive study of the property and ensure that the purchase is entirely
legal, transparent and safe and that your interests are fully protected.
Registration of Property Deeds
What is the registration of property deeds?
The notarised deed (escritura) must be registered at the local land registry department. It is in your interest to get this done as quickly as possible after the purchase is conducted.
What do we do for you?
We will handle the entire process for you and register the property on your behalf ensuring that it is done quickly and efficiently.
Utilities & Services
What is utilities & services?
You will need to get water, electricity / gas, community of owners (where relevant) and
council tax changed into your name.
What do we do for you?
We will handle the whole process and make sure all changes are made correctly.
Taxes
What are the taxes to consider on a property purchase in Spain?
Upon purchasing a property there is a 10% tax that has to be paid to the government once and only once, this tax is called ITP.
What do we do for you?
We will handle the whole process and make sure all taxes are paid correctly.
You will be able to request/obtain a mortgage from a Spanish bank or lenders depending on your country of origin.
The set up costs will amount to approximately 2-4% of the amount borrowed.
This can be done via bank transfers which will take 3-5 days or you can use a commercial foreign exchange company which may offer better rates and faster transfers. The regulation vary on each country, we strongly recommend you to check with your local financial institutions in advance.
Newly built properties have a 10 year construction guarantee and a certificate from the architect. Surveys will not be carried out on resales unless it is specified as a requirement in which case it will be arranged.
If the seller is non-resident then the buyer is required by law to pay 3% of the purchase price to the tax office to cover the seller’s potential tax liabilities. However, this does not impact the purchase price and simply means that 97% of the price will be paid directly to the seller with the remaining 3% going to the tax office.
indication prices are:
Council tax: €400
Community fees (where applicable)
You can appoint us as your fiscal representative and we will take care of your tax returns.
***We hope that you have found this guide useful and informative regarding your Spanish property purchase.
If you want any further information on the purchase process or any of our services then please give us a call or email, or visit us at one of our offices.***