So buying process begins with the selection of a suitable object (of the house). Once you have chosen the most suitable house, begins the collection and preparation of all necessary documents. You will need to make a «test» of the real estate and all documents. Nota Simple, an extract from the state register of ownership in Spain will be really helpful, since this instrument will be able to trace the history of the property (the document will confirm that the house really belongs to the seller, the house is not under arrest, who was the owner of the house previously, whether hanging on it any debts; it also shows all the characteristics: footage, property type, number of rooms, etc.). Next, you need to check whether there is information in the State Register of Property (contract of sale property seller in Spain, registered in the State Registry of the Property, Seller confirms the ownership). Also, it is useful to ask for a receipt IBI (municipal property tax).
When you want to buy a house in Spain from the developer it’s necessary to check Declaración de la obra nueva (statement of a new building), as well as whether the object is registered in the tax authorities and the municipality.
Once you have chosen and checked the house to the drafting of the contract of sale. In it buyer and seller express their intention to buy / sell a house, the price is indicated, the terms of the transaction and payment. During the signing of the contract of sale the buyer will have to pay a deposit (10-20% of total cost); after receipt of funds to the seller, he has no right to abandon the deal.
You will be given the opportunity to choose between two forms of payment:
- Payment of the full value of the property + taxes and notary costs.
- Payment of 30-40% of the value of the house + tax and notary costs.
The next step in the design of buying a house in Spain is to obtain a NIE, Identification Number of a foreigner, you can get in the police department. Next, you need to open an account at a Spanish bank.
The next step on the way to buy a house in Spain – the signing of the contract of sale before a notary and notarization. You will have to pay the remaining amount in the presence of a notary. You are handed a copy of the contract of sale and house keys. At this point you are its owner, but will need to register a contract of sale in the State Register property that takes 1 to 3 months, and then you get the original deed – the main document confirming the right of ownership.
To buy a house in Spain is a rather complicated process which involves a number of costs, the amount of which depends on the type of property you buy:
– New property – 10%;
– Resellers – 7%;
– Social housing – 4%.
You should also consider the notary fees, which are dependent on the purchase price, the cost of registration in the State Register of property, payment of real estate agent and / or attorney.
How can you make the process of buying and design of the house in Spain is rather complex and requires skilled care lawyer, specialized in registration of this transaction and who knows the law and all the nuances of this process.
We will be happy to help you and to resolve any questions and doubts.