Terms of service

 

 

Property Photos and Viewings
While our property advertisements feature photographs to give you an idea of the properties, they might not always perfectly reflect the exact items and layout. We highly recommend visiting the property in person. For new build properties, meeting with the developer will give you a clear understanding of what's included in the price. Keep in mind that some items in photos might be for display purposes only, and developers or owners might change materials and qualities during development.

Legal Assistance
We can recommend a reputable lawyer in the area, but you are also free to choose your own. Your chosen lawyer will handle important details such as checking charges or embargoes on the property register and confirming that the seller is legally authorized to sell the property. The seller will need to provide several documents, including the title deed (escritura), a simple informative note (nota simple informativa) detailing any outstanding charges, and a receipt for paid local property tax (impuesto de bienes inmuebles). If you're buying land, your lawyer will also need to verify that a house can legally be built on it.

Reservation Process
Once you find a property you wish to purchase, a reservation deposit will be required to take the property off the market. The deposit, ranging from €3000 to €5000 depending on the property price, will be held in a protected client account. The purchase contract will specify an obligatory completion date, and failing to meet this deadline may result in losing the deposit. The deposit is only refundable if the seller fails to meet their obligations as stated in the sale/purchase contract.

Further Payments
After your lawyer completes the necessary property searches and is confident for you to proceed, a further 10% (minus the initial deposit) will need to be paid. This usually happens within two to three weeks after the initial deposit and can be paid directly to the property owner(s) or their lawyer. The final payment, which includes the outstanding balance and legal fees, will be arranged to take place at the Notary office.

Necessary Documentation
To complete the sale, you will need an NIE (Foreigner Identification Number), which a local lawyer (gestor) can obtain for you. If you can't be in the country for the final step, you can grant power of attorney to a trusted person, ideally a solicitor or the property agent.

Additional Costs
We recommend budgeting an extra 11-12% on top of the purchase price to cover all expenses. These costs include:

Stamp Duty: Either 10% of the purchase price or 10% of the rateable value multiplied by 3.7, whichever is higher.
Notary Fee
Land Registry Fee
General Administration of New Title Deeds
For land or garage spaces purchased directly from a builder or property promoter, VAT may apply instead of stamp duty, generally charged at 21%.

If you're buying with a mortgage, additional expenses include:

Stamp Duty: As above.
Notary Fee
Land Registry Fee
General Administration of New Mortgage Deed
Bank Survey
Mortgage Arrangement Bank Charge
Other considerations that may incur costs:

Property Surveys
Solicitors Fees
Life Insurance
House Insurance
NIE Numbers
Bank Commissions
New Contracts with Utility Companies (if applicable)
 

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