LOVE SPAIN
Spain is one of the most popular Europe and destinations for a second home as well as relocation. Life in sunny Spain may seem a dream away but when you take the time to look at the options of locations and prices it may well become more attractive than you may of first thought.
Some people want to live by the sea with a huge number of some of the best beaches in the world. Others prefer the cooler climate of the mountains and valley locations, close to gold courses or even locations in towns with a fantastic traditional atmosphere.
Whatever the choice for most people it is about investing in the future, Spain Property Guide is here to help you with your decisions on all aspects of purchasing your dream home in Spain. We have a wide range of chosen agents offering a wide range of experience located across the country in the most popular areas for foreign buyers.
BUYING PROPERTY IN SPAIN
Living in Spain is fantastic, we are happy to help you every step of the way. From your initial enquiry, we are here to guide you through the process using the most experienced and dedicated team of professionals.
Trusted agents with a proven track record, legal and financial advice from selected and trusted companies and by working in partnership with Citizens Advice Spain we can always get your questions answered
on almost any subject that refers to living, working or having a second home in Spain.
WHAT YOU NEED TO KNOW
The Price, there are some amazing properties to buy at even more amazing prices. When you consider what you can get for your money you will see that Spain is more affordable than you may of first thought. Find your dream home and make a sensible offer,the agent will work hard on your behalf to secure the best deal available working directly with the vendor.
ADDITIONAL COSTS :
There are some additional costs to the purchase price so allow approximately 10-15% in additional costs.
Taxes:
For new build property there is VAT of 10% also stamp duty of up to 2% and for used properties (re-sales) there is a transfer tax of 8-10% depending on the region you buy, there is no stamp duty on a used property purchase.
NOTARY COSTS :
In Spain, the sale must be taken through a notary, this process is to exchange the purchase contract. The buyer is responsible for the notary fees. The fees vary depending on the purchase price.
REGISTRATION FEES :
The new owner must register the property with the land registry, this usually cost around 0.5% of the purchase price. Utility Connection Fees: To connect a property to the utility of water, electric or gas there are fees to pay or if it is a simple reconnection there are also fees. When the services remain in operation there are fees for changing the subscription.
Financing the purchase, there are some specialised banks and lenders that will help you with a mortgage or loan for buying overseas property. You may even get advice from your own high street bank. For further advice on property finance for overseas property please ask us for details.
COSTS :
Naturally depending on size and how much you will use the property will depend on the running costs of a Spanish home.Most properties are subject to a community charge, waste disposal, home insurance, and IBI (property tax) this is annual.
REQUIREMENT ANALYSIS
• Review your wishes and needs
• Criteria
• Budget
• Location analysis
PREPARATION
• Financial review
• Additional cost review
• Appoint a legal representative
• Spanish tax identification NIE
• Property watch
• Get to know the area selected
VIEWINGS
• Plan your travel date
• Your agent will arrange the viewings to suit your diary
• Property brief and information pack
• Commitment and responsiveness
BIDS
• Negotiation
• Advice
RESERVATION
• Review of property and legal documentation
• Draft of the reservation agreement
• Conditions
• Reservation deposit
CONTRACT
• Signing of the purchase contract
• Deposit10% of the purchase price less any reservation deposit
ACCESS
• Establishment of liquidation settlement
• The resolution of mortgage or loan
• Assistance at the notary
• Transfer of property documents
• KeyDelivery
POST COMPLETION
• Quality monitoring
• Continued support and advice
