Accompanying the purchase of real estate
Wonderful colorful country Spain.!. Many would like to buy a property on the Spanish coast. It is a popular destination on the Spanish real estate market – Boanka Costa (Costa Blanca White Coast), which is associated not only with affordable prices, but also with the unique climate of this coast. Intensive construction in recent years led to the rapid growth of sales in this market.
It is important to prepare all the documents for real estate!
A particular difficulty of buying property abroad is not only connected with the fact that you need to navigate in a foreign law but also with the need to communicate in Spanish.
If you have already found a property on the Costa Blanca, the experienced lawyers ALFA REAL ESTATE will help to pass all stages of the transaction and will relieve you from unnecessary doubts and possible errors, you only remains to contact us.
- The signing of the deposit agreement.
Usually a deposit when buying a house is from 3 to 6 thousand Euros. By signing the contract of deposit in case of cancellation of the contract (for example, you find another house) the amount of the deposit retained by the property owner. If the owner decided not to sell after the signing of the deposit contract – he will pay you double the amount of (+ will return the deposit the same amount).
Request from the registry of property rights to real estate (nota simple informativa), the certificate of payment of the property owner of the property tax (of IBI), a certificate of payment of the owner of payments under the maintenance of the building (cost HOA), if necessary, the certificate of suitability of accommodation (cedula de habitabilidad) and urban housing certificate (cedula urbanistica, cedula de aprovechamiento urbanistico).
Checking the purity of the transaction: the lack of rights of third parties are registered in the Registro de Propiedad, no outstanding tax liabilities and other debts.
- Registration NIE (NIE, alien identification number).
It should be your personal presence or notarized power of attorney. Necessary documents: the contract of deposit, deposit confirmation, passport.
- Opening your bank account.
Required documents: passport, certificate of employment (where, by whom work indicating salary), reference 2NDFL (or a copy of the tax declaration SP).
You make the first payment (approximately 10% of the purchase price, if you buy the new building, depending on the conditions of the builder, from 10% to 50%.
Closing the deal: signing of the deed of sale (contrato de compra-venta) in the notary’s office, where you finally calculated for the property (as a rule, payment is made by bank check).
If you take a mortgage for the purchase of real estate, before the signing of the deed provided by the bank the necessary documentation and wait for decision of the bank on the mortgage.
- Taxes and other costs
Usually when buying a property for taxes and other expenses should be planned around 10,5- 13% of the cost of housing, and if you take a mortgage somewhere around 15 to 16%.
Tax on documented legal acts:
the 1.5% of the cost of housing, specified in bill.
When buying a new property:
VAT – 10% of the property value (or 21% when buying commercial property or land).
When buying a resale property:
The tax on onerous transfer of property – 10% of the cost of housing
Execution of documents (translations into Spanish, assurances and so on.) -300-500 Euros.
Notary fee (depending on the value of the property, availability of mortgages and so on.) – 600-1000 euros.
The registration fee (in the register of property in Spain) -300-400 euros.