When buying a resale property (a property that has changed hands at least once), you must pay the transfer tax or ITP in Spanish, which is levied on a sliding scale depending on the purchase price. In this section, a series of treatments was born before the signing of the binding contract between the two parties: the so-called care of the property. Buying a property in Spain is really nice, here are our 10+ reasons why you should buy a property in Spain? In our office, we dealt with many foreigners who wanted to buy a property. And now we want to help YOU. Hello and thank you for this excellent information and guides on buying a property in Spain. I would like to know that in order for a foreigner to NEVER ask to buy a property in Spain, the applicant must provide a contract of sale signed by the seller or real estate agent as the reason for the request for NIE? Thanks in advance, Ali Jannati Hello, I have the same question as Mariela. We are U.S. citizens and have loans in the U.S., but we wanted to buy a property in Spain and we were wondering if we could get a mortgage in Spain. The «contrato de Reserva» expresses your intention to buy and removes the property from the market, this is the reservation contract. As a general rule, you will have to pay a holding fee of €3000 to €6000. The funds are held in trust for 14 to 21 days and you have time to examine the property during that time.
At the same time, a purchase contract is drawn up and legal checks are carried out. It is not technically mandatory for a notary to conclude the sale. However, it`s always a good idea to have a trusted lawyer to do your due diligence. As a buyer, it is your duty to register the property. A notary or legal advisor can help you with the process. If you are the one selling the property, you will mainly have to pay between 19 and 24% (assuming you are a tax resident), depending on the case, on capital gains tax (there is a scale). This tax rate is applied to the benefit of the property. This means the difference between the sale price and the price you paid when you bought the property. With your NIE and all your documents, it is easy to open a bank account in Spain. Are you careful when buying outside the Eurozone? Your local bank may charge a hefty fee to convert your local currency into euros or send money to Spain.
We have found a good partner to help you with cost-effective management, read our detailed article to learn more about: How to pay for your Spanish property in euros – € while living in a non-euro country? The NIE is the identification number you receive as a foreigner and it is essential for any type of economic activity or financial transaction (such as the purchase of the property), as well as for registration as the owner of the house. Waste disposal is managed at the municipal level. There is also an annual fee that you have to pay to the municipality for garbage collection. Yes, any foreigner can buy a house in Spain. Nevertheless, there is a difference. If you are not a Spanish citizen, you need to take an extra step before buying. There are many real estate agents in Spain who are used to doing business with expat buyers. They can often provide you with valuable information about the area and help you with your property search. However, beware of scammers. Never trust an agent who demands upfront payments or suggests they can «get your property faster than others.» Hello, I am interested in moving to Spain and selling my property.
Would you like to contact us for further technical questions Do you dream of settling in a villa on the Costa del Sol or an elegant apartment on Barcelona`s Ramblas? Our guide to buying property in Spain explains how to make these dreams come true, from legal requirements to pitfalls to avoid. Hi, I am looking for properties in the south of Spain on the Costa de Sol or the Costa de Blanca I am a British citizen and I am in the process of selling my house in the UK. And I can be a cash buyer, but will I have permanent Spanish residency and how much tax has to be paid and how do I get permanent Spanish residency and how long does it take? Sincerely, Andreas All documents submitted to the Spanish authorities must be translated by an official translator and, in some cases, stamped «Apostille». The buyer then arranges a mortgage that may be necessary, although they should have already discussed their needs with the mortgage lender. The purchase contract (escritura de compravento) is usually signed before a notary, after which the total sale price, taxes and other fees are due. The Spanish real estate market is fully prepared for foreigners who buy a property there. This means that there are many websites and real estate agents that work in almost every language. Yes. In addition to local agencies, there are many international real estate brokerage firms that can help you find a property. You can also visit popular websites such as Thinkspain, Servihabitat, Idealista, and Kyero. This could be the most tedious part of buying a property in Spain.
There are different offers for gas, electricity and water that you can compare before accepting one. Sometimes you will find that the previous owner had policies that you can easily adopt. Of course! There are no restrictions on the purchase of property in Spain, whether commercial, residential or land. Spain encourages investment by foreigners, both resident and non-resident. Remember that if you buy a house worth more than €500,000, you can apply for a Golden Visa. DAFO: This is a certificate that clarifies the situation of the property and that there are no problems regarding the house or its location. Hello! We are currently in Arras for one property, with 31st October being the agreed completion date in Compraventa. Since one of the sellers has not properly updated/submitted his inheritance status (there are 14 heirs in total), we have not yet confirmed a company date as all documentation has been submitted to our Gestoria. Our cancellation in our current apartment is also on October 31st.
The real estate agents assured us that we should be able to sign in mid-October instead of the initial estimate of September 30. Today we have our first meeting with the notary to sign the Acta de Transparencia. Is there anyone who could perhaps give advice on what we can do, if anything, to avoid further problems? We are concerned that not everything will be processed and that the keys will not be processed in time to be able to move. Thanks in advance! Dee Let`s analyze the real estate buying process in more detail. There is also a type of insurance known as home insurance. This type of insurance covers your belongings at home. You should have this type of insurance if you plan to rent your property on a regular basis. Remember that as a buyer, you have the right to choose your mortgage provider, notary, etc. You don`t have to go with what the real estate agent suggests.
Also, you should always negotiate their fees as they might try to charge you more. The buyer is also responsible for registering the property. The notary may provide this service for a fee and/or inform the registry office that the sale took place without completing the full registration. The price of the property depends heavily on where you buy it. Some of the most expensive places to buy in Spain are San Sebastian, Barcelona and Madrid. You can find much cheaper properties somewhere like Alicante or Valencia. Below is a table of average property prices in different regions of Spain. In addition to the purchase price, when buying a property in Spain you also have to pay: this part of the process is undoubtedly one of the most important, since a careful analysis of the contract is necessary so that no party is harmed. The purchase of a property that has problems with the town hall for urban planning reasons, and this is something you discover after the final payment. is certainly harmful. Hey! I come from Morocco and I want to buy an apartment in Spain for 50k euros, does this guarantee me a residence permit? Can I buy a property in Spain if the only way to enter Spain is through a tourist visa? Our lawyers can help you find a property in Spain. If you feel confident enough, you can also search for a property yourself using portals such as Idealista.com, fotocasa.
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