Se Venta: Properties For sale
Great news, your looking to buy your property in Spain..we’d love to help you.
One of the most popular region’s of Spain, and one we at GlobalHolmes hold close to our heart is the Costa Almeria. An area we believe you will not only fall in love with, but somewhere that will have the perfect Spanish retreat for you.
Be it a holiday home that’s close to the beach, one of the many well kept designer Golf resorts or a plush Villa high up in the mountains, you’ve come to the right place.
With a fantastic portfolio of Spanish properties for sale, and more properties added daily, we know we have something for almost everyone.
Have a look or contact us direct..
We’d love to hear from you
Embrace the Spanish way of life
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FAQ’s: buying Property in Spain
We have listed a few of the important facts you’ll need to be aware of when making your purchase in Spain. We believe these to be important and useful and will hopefully help you somewhat when making your purchase.
If you have any other questions please feel free to ask, we’ll be happy to help.
Do i need one?
An N.I.E number is issued by the Spanish authorities to identify foreigners (Numero Identificacion de Extranjeros). This is needed as an identification for various kinds of authoritative purposes:
Making transfers or paying bills via your Spanish Bank account.
Purchase a property in Spain.
Granting of a loan or Mortgage in Spain.
Purchasing a Car.
Working as an employee or self-employed person.
Water / Electric / Telephone Contracts
It will be requested when:
Opening a Spanish bank account which initially can be done using a passport
Buying a property in Spain
Granting of a Mortgage
Use of a transaction that involves an invoice in your name
Paying Taxes such as Non Resident Taxes / Property Tax or IBI.
Please note that the NIE Certificate does not show or prove whether you are Spanish tax resident or non-Tax Resident in Spain. It is only a number that identifies you as an individual in front of National, regional or local Spanish Inland Revenue.
They are a number of methods that you can obtain your Nie Certificate.
Going to Spanish Embassy in your home country.
Through your Legal Representative/ Accountant / Abogados or Lawyer in Spain.
The Buying Procedure
Your Quick-step guide to Buying a Property in Spain:
Buying a property in Spain, be it as a main home, holiday home, or as an investment should be an exciting time in all our lives. Many of us have dreamed of owning a beautiful home in the sunny, warm climate of Spain. All too often, many buyers get caught up in the dream and fail to fully understand the buying basics and the complete Spanish purchase process. As a result, buyers are often confused, wishing they had the right knowledge and guidance from the start.
Step 1: Do your initial research:
Do some basic online searches to understand the area of preference that suits your criteria. When choosing an agent, check that they are based in the area you want and most importantly they are the listing agent. If you use a third-party agent, this may affect your negotiating power. Always open email communication in advance as this will help the agent offer advice for you consider. Remember in Spain to allow purchase costs on top of the agreed price which is approximately 11-12% overall.
Step 2: Decide on your main criteria as this is a personal choice:
Is the property for investment or personal use?
Do you want a ready-built property or something off-plan?
Calculate your approximate budget (to include the purchase and mortgage costs if applicable)
Step 3: Understand your budget and affordability:
How much of your own money do you have, or do you want to put into buying a property?
Calculate your net real monthly income as the bank will request this information if requiring a Mortgage.
Understand how much mortgage you can afford and obtain. Contact banks / broker for specific mortgage advice.
Step 5: Organise your search to view your properties:
Select specific properties for viewing by email and ask questions. Please don’t choose according to price as this can affect your shortlist. If you need to compromise to buy in one location over another, decide prior what is the most important.
Plan any viewing trips accordingly. GlobalHolmes can assist you with this so that you can be shown around any selected properties on your visit to Spain. Remember to spend time in the area. A property is key to the lifestyle as you will live here.
Allow time in your visit to make a shortlist and view properties again if necessary.
Step 6: Find the right property:
Ask GlobalHolmes, your agent, questions, so you can make an informed decision.
Understand initial payment terms & total costs before submitting an offer.
If an offer is agreed, then engage independent solicitor / Abogado to work for you.
Step 7: Engage a lawyer to do your initial property checks and consult a mortgage broker/bank to ensure you can obtain the mortgage you require:
Your Lawyer will start the process and run important property checks
This is known as the Decree 218.
If required, your lawyer can accept POA to apply for your NIE certificate and open a bank account
The initial offer to reserve will be drafted and signed by all parties. This information is used for the PPC. (you will be asked to pay an initial holding deposit at this stage to take it off the market)
Confirm final price & deposit amount, agree terms and conditions (negotiable between buyer and seller) & set an estimated completion date in writing.
Reservation deposit £3,000
Remainder of deposit to 10% £6,600
Final Payment of 90% on completion £86,400
Property Purchase Expenses
Property price £96,000
Transfer tax 8% £7,680
Notary fees (approx) £600
Land registry fees (approx) £600
Legal fees (approx) £1,500
* Transfer tax is based on the sale value or the cadastral value whichever is the highest.
When buying an overseas property, it's vital that you get reliable independent legal advice before you purchase a property. Make sure you are dealing with a solicitor and not a translator who is offering legal advice for which he or she will not be qualified. Instructing an overseas property lawyer will be an additional cost, but this needs to be factored in to your figures. Using a lawyer when buying abroad is probably even more important than when buying in your home country. You can make sure a person is a solicitor by visiting the “Consejo General de la Abogacia” at www.abogacia.es . Not all solicitors offer the same service so one sensible approach is to ask friends and acquaintances for recommendations.
An independent lawyer will help to inform you about possible problems and issues, and protect you from future problems with your new home. Your lawyer will conduct relevant searches such as the Decree218, check licences and ensure the property has been built legally without any legal claims on the property from a third party.
The property is free of debts, encumbrances, charges, and is up to date in all its payments.
Title deeds are properly executed.
Local council documents are transferred.
Taxes and costs to be paid in the transaction are correct.
Other essential requirements,e.g. application for NIE number (identification number for foreigners), are taken care of.
Electricity, water, community of owners if applicable , rubbish collection and rates can be set up by direct debit.
Local lawyers are also more likely to know about regional urban plans, the problems specific to the region, and the reputations of local developers. They are on site to do any of the many legal checks that may need to be done, and can readily accompany you to the signing of the deeds before Notary. Lawyers who are not locally based, for example Spanish lawyers in London, have to operate over the phone, or through associates, all of which may decrease their speed and effectiveness whilst increasing the cost to you. Conveyancing from other areas can attract an extra fee so it may not be cost effective. There are also the inevitable delays when information and documentation has to pass through the extra middleman. Please ensure that your legal does not subcontract the work to a local if they are outside the region. Entering into a property transaction is one of the most complex and expensive transactions that you will most likely ever undertake so do not pay more.
Typically, lawyers fees will be between 1% - 2% of the purchase price, although can vary by property price. Don't be tempted to scrimp on legal costs - following the right process now could save you a lot of time and trouble down the line!