How to buy a house in Spain.

  • Red Rose Property Spain by Red Rose Property Spain
  • 7 months ago
  • 0
How to buy a house in spain

Buying a house in Spain.

If you are contemplating buying a house in Spain as a foreigner, you’ll need to navigate through some essential legal procedures before you can call any property your own.

The Spanish property market is marked by its unique characteristics, and it’s imperative to conduct thorough research before taking the leap into homeownership in Spain. Knowing what to anticipate when embarking on a property acquisition journey in Spain can save you from potential pitfalls as you establish your life abroad. Factors to stay attuned to when purchasing property in Spain encompass guarding against property scams, navigating high capital gains tax implications, and staying ahead of fluctuations in the dynamic Spanish real estate market.

The steps to be followed when acquiring a house may not always seem straightforward, and it’s vital to have a crystal-clear understanding of the taxes and expenses you’ll encounter on your path to property ownership.

Whether you are seeking property in the idyllic coastal regions such as the Costa del Sol, Costa Tropical or Costa Blanca or in one of the white washed villages of the Axarquia region, this comprehensive guide is designed to offer you invaluable insights, ensuring a seamless transition to property ownership in Spain.

What to do when buying a house in Spain.

The only thing you need when buying a property or house in Spain as a foreigner (in legal terms) is the NIE (Número de Identificación del extranjero). This number, which is unique to each individual, is essential to carry out any transaction in Spain. Since it must appear on all documents that you sign or are issued in Spain, you must have it before signing the deed. The NIE is not complicated to obtain, but it does take a long time; ask Us to make it easier for you to obtain the NIE in order to speed up the process as much as possible. We are able to help you with this whole process, just contact us.

In addition, although it is not compulsory, having a bank account in Spain will make all the formalities easier, as it will make payments faster and will probably save you some commissions.

Finally, remember that once you are the owner of a property in Spain, you must appoint a tax representative if you are not resident in Spain

When buying a house in Spain, let us help you with this legal process, we have an independent law firm working aside with us.

The process of purchasing a property in Spain.

When buying a house or property in Spain you have to have the following in mind.

The costs of acquiring / buying a house in Spain are mainly paid by the buyer, and vary from region to region. Taxes and other paid by the buyer include:

  • Property transfer tax 6–10% (existing properties) / VAT (or IVA) at 10% (new properties)
  • Notary costs, title deed tax and land registration fee 1–2.5%
  • Legal fees 1–2% (including VAT).

You can read the whole process of buying a property in Spain also on our website.

Buying a house in Spain after the Brexit.

When you are British and you are thinking of buying a house in Spain to retire you are still allowed to do so. However, you will be subject to the Non-EU regulations, which make the path of buying property in European Countries a little bit more complicated. Applying for a Spanish Non Lucrative Visa might speed the process of purchasing the house. We can help you applying for the right permissions and Visa’s together with our independent law firms in Malaga and Granada.

Property lawyers in Spain for buying a house in spain

If you are going to buy a property and want to save yourself future problems, it is advisable to seek advice from a property lawyer in Spain. The savings far exceed the cost of legal fees. Contact us now when you need help with finding an independent lawyer.

Buying your home is usually the largest investment for most individuals. Even those who own several properties tend to invest cautiously in the real estate market. Real estate companies always use the services of lawyers before making an investment.

In short, the services of a lawyer are often more useful for preventive than corrective purposes. But most people still hire them when it’s too late.

The effort to find a good advisor can save you a lot of trouble.

How does a lawyer helps you, buying a property in Spain.

Before entering into the purchase of a property, basic tasks of research and analysis must be carried out. It is important to check that the property is in order and that the contracts of purchase and sale and, where appropriate, a mortgage loan, will not end up causing problems.

Red Rose Property Spain when buying a house in Spain.

  • We can help you with NIE and VISA.
  • We can help you obtaining a mortgage.
  • We can help you with the right property lawyer.
  • We do have a huge netwerk with not just houses for sale in Spain but we’re also able to help you when you have specific wishes for a new house in Spain, Just fill in our Wishlist for a Spanish house.

Red Rose Property Spain is a small family business/ estate agency on the Costa del Sol in Spain. We stand out in the property market by being different in working and sevice towards our clients.. We give personal attention to every house in Spain we have for sale and pay attention to our clients’ requirements like no other estate agency in Spain can.

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