When purchasing a house in Spain, there are three steps:

A booking agreement is signed to start the process. Typically, this process entails making a deposit of about 1% of the purchase price.

The down payment contract – or agreement – must then be signed, and 10% of the purchase price must be paid.
Later, the purchase deed must be signed in front of a notary public.

Finally, the remaining purchase price will be paid, making you the official owner.

There are three steps to buying a home in Spain:
To begin, a booking agreement must be signed. Usually, this procedure involves a down payment equal to around 1% of the purchase price.
Following the signing of the down payment contract or agreement, 10% of the purchase price must be paid.
After that, a notary public will witness the purchase deed’s signature.
Last but not least, the balance of the purchase price will be paid, making you the legal property owner.

  • The Escritura (deeds), also known as the IBI (property tax), of the property;
  • Receipts from public utilities;
  • A list of the furnishings;
  • First-occupation license;
  • Invoices for community fees from the community if purchasing on an urbanization;
  • The minutes of the community’s general meetings for the previous three years;
  • If the property has undergone any additions, which ones are they?
  • Does the land registry provide a listing of every piece of property?

Due diligence is finished between the deposit contract and the booking agreement being signed. Before depositing a substantial sum of money, you must ensure that everything is in order.
All necessary paperwork must be made available to you by the agency in order for you to review it.

You must request an updated extract from the land register. By doing this, you can obtain information regarding the area’s legal registration, the owners and any loans the property might have in the form of a mortgage, deferred obligation, or preferential purchase rights.

Additionally, you should look at:

  • A copy of the seller’s purchase/acquisition deed.
  • A certification of compliance attesting to the suitability of the property for the application;
  • Certification for building technical inspection reports (ITE, as it is abbreviated in Spanish).
  • Cadastral citation, a 20-character alphanumeric code that serves as the property’s official and legally binding identification.
  • The most current property tax (abbreviated IBI in Spanish)
  • The latest utility bills
  • A declaration stating that the community of owners has no significant obligations.
  • Verification that the property complies with all relevant local zoning regulations; we also suggest obtaining copies of the most current minutes of the community of owners and a certificate from the local council.

This list is not exhaustive; depending on the circumstance, additional things may frequently be needed.

The most frequent issue with city apartments is that the surface is not the same as stated in the land registration, certificate of aptitude, or cadastre. Additionally, especially in the attics, we need to look for any unauthorized structural alterations or extensions. In this regard, one of the most frequent issues is learning that a building needs work and that each owner must contribute substantial cash or, that a technical assessment was unsuccessful. As a result, you need to exercise caution whilst unlawfully renting out your property to tourists in major cities like Barcelona in order to avoid paying fines.

In rural locations, the most frequent issue is that often that a home is constructed on a property that was intended for agriculture rather than standard habitation or that unauthorized additions were made to the building.

Depending on the region where the property is located, a large range of potential legal concerns could surface.

This depends on what stage you are at in the buying process. If, after making the reservation or down payment, you discover problems throughout the due diligence process, you may ask for a refund. However, the agreement for the reservation or deposit must have contained this clause. In some circumstances, it is advantageous to go ahead and make the purchase if the ultimate cost is decreased to reflect the fault.

Only if the defects are discovered after the sale will you need to take the seller to court. Your rights in this regard should be covered by the notarial deed, but under Spanish law, the buyer is safeguarded in the event that difficulties are unreported.

The Buyer shall pay all expenses related to the acquisition of the Property. They are as follows:

Tax on Property Transfers (ITP) Depending on where you are, but typically 10%

  • Registration fees for properties
  • The sole debt owing by the seller is the surplus value or capital gains tax.

Yes, a non-resident can apply for a mortgage in Spain. You need to check the terms and talk with a few banks. You can expect to receive a maximum of 70% of the original purchase price. The bank will then require proof of your financial situation in your country of origin before basing its offer on that evidence.

As an alternative, we can work with highly skilled mortgage brokers who can help you in your native language.

You should sign Spanish wills as soon as they are finished, if possible. It is strongly advised to make a Spanish will immediately because you now possess a Spanish asset. Any knowledgeable attorney will advise you to do this in this situation.

Following the completion of all necessary steps, your attorney will procure the deed, settle any taxes due and notary fees, and register the property in your name.

That’s it, really. Have fun in your new house and let us know if you require any additional help.

BREXIT questions

You’ll be relieved to learn that there aren’t any new limits or criteria to be a native of an EU country in order to buy a house in Spain, if you haven’t dug too deeply into the changes that Brexit would entail. In general, there won’t be any weird or new laws to deal with during the procedure or the transfer if you wish to invest in Marbella real estate.

If you haven’t looked too thoroughly into the changes that Brexit would imply, you’ll be relieved to find that there aren’t any new restrictions or requirements to be a native of an EU country in order to buy a house in Spain. If you want to invest in Marbella real estate, there won’t generally be any strange or novel laws to deal with during the process or the transfer.

You might be worried about your ability to sell and any potential consequences if you decide to do so. Other than taxes, which can be difficult to predict, you’ll find that there aren’t any extra costs or rules in your way.

If you want to promote your home in Spain, you might be interested in getting in touch with our experts.

The regulations governing rental properties can vary from one location to another when it comes to tourist rentals. Therefore, except from this commonality, there are no restrictions in place that should apply to landlords who are not EU nationals (and no apparent plans exist that could create issues either).

The majority of consumers will regard pricing as crucial. There are certain things you should take into account regardless of Brexit, such as Spanish VAT and stamp duty, which do not specifically target expats. Aside from possible variations in foreign conversion rates, there won’t likely be any additional fees for you to cope with.

The signing of the deed, in front of a Spanish public official, completes every real estate transaction in Spain by confirming the parties’ identity and approving the transaction. Even though there won’t be any distinctions following Brexit, it would be a good idea to get advice from someone who is familiar with both Spanish and UK real estate deals.

As our team of industry professionals who have been in the business for years can attest, finding the appropriate property for sale in Spain isn’t always the easiest task to complete alone. Fortunately, whether you’re looking for luxury villas or fincas for sale at the Costa del Sol, our team at Luxury Property Finder Marbella is here to assist you every step of the way.

Due to our market expertise, we’ll be happy to help you find the perfect property to meet your needs. If you’re interested in purchasing a buy-to-let, a vacation home, or even a permanent residence if you intend to live on the Costa del Sol, why not let our property professionals attend to you right away?

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