Looking for a
suitable property

The whole process starts with determining your requirements and your
budget. Are you looking for an apartment, house or villa? If you wish to buy
for investment purposes (rental income / capital gains) or to enjoy it
yourselves (as a holiday home, permanent residence or to stay in Winter). If
you need a mortgage, your current bank can help you determine how much you can
borrow. If you want a loan in Spain we can help you as we have very good
contacts with several major banks. When you find an interesting property on our
website, you can request a visit through the website by phone or email, also if
you have general or specific questions.

Buying costs

It is important that you are aware of the additional buying cost when you
are putting in an offer:

New construction

· 
VAT (IVA) rate
of 10% of the value of the property.

· 
Stamp Duty
(AJD): rate of 1% of the value of the property.

· 
Other buying
costs (notary, solicitor, registration fees, local taxes, etc.): + – 3% of the
value of the property.

Total additional buying cost new build: +- 14%

Resale

· 
Transfer tax:
rate of 10% of the value of the property.

· 
Other buying
costs (notary, solicitor, registration fees, local taxes, etc.): + – 3% of the
value of the property.

Total additional buying costs resale: +- 13%

Purchase Contract
(compromise)

Once an agreement is reached on the price, the purchase contract (also
called compromise) is signed. You have to pay approximately  3000 euro deposit upon signing the purchase
contract. The amount may vary depending on the price of the property, for more
expensive ones being a bit higher.

Formalities

To buy a house you need to have a NIE number and a bank account in Spain.
Of course, we ensure that these formalities are taken care of.

NIE:

NIE stands for Número de Identidad de Extranjero and represents an identity
number for foreigners.

It is a tax number that every person who buys a house in Spain needs.

Bank account:

The utilities (water, electricity and gas) and taxes are paid by direct
debit from a Spanish bank account in Spain.

Solicitor

In Spain, the notary only has an administrative function. He checks the
identity of the owners and signs the deeds, he does not perform any preliminary
checks. Hence it is very important to choose a solicitor who can check
everything for you. He checks whether all documents of the property are in
order and that there are no outstanding debts, so you can feel confident that
there are no problems with the property. We work together with solicitors who
we trust and who provide an excellent service.

Notary

Both buyers and sellers go together with their solicitors to the notary.
When signing of the «escritura» (deeds) at the notary, the balance of
the outstanding sales price, the notary fees and registration fees are paid by
the buyer and the seller hands over the keys of the house.

From this day you can start enjoying your property and holidays in Spain.