Spanish Selection Property for Sale Rental and Purchase In Spain

n	We highly recommend you take advice from a English speaking Abogado/Lawyer, who will best advise you on all aspects of buying abroad, such as the costs involved on any purchase and they will also have your best interests at heart.
n	Your Abogado/Lawyer, with your instruction will make the necessary checks to make sure there are no infringements against the property.
n	Approximately 10% of the property (advertised price) needs to be added for legal costs, such as legal fees, land registry and the government tax currently at 7%.
n	Land Registry - a search of the property to confirm the status of deeds, i.e. concerning rightful owners and possible debts, as under Spanish law debts on properties are transferred to the new owner at completion of purchase!!
n	A fiscal number - (N.I.E.) is required in order to purchase property in Spain. Your Abogado will advise you on how to obtain one.
n	We highly recommend opening a Spanish bank account as early as possible even with a small sum to start the paperwork procedure.
n	There is competition from banks here and should you require a mortgage they are open to (non residents and residents) but subject to status.
n	When you are happy that your finances are in place and your Abogado/lawyer has advised you to go ahead dates can then be agreed by both parties.
n	Staged payments for new builds are normal (but can vary), on re-sales e.g. a deposit, the Purchase Contract is now drawn up, a further 10% once your lawyer is happy with all the checks, the remainder at the notary. Completion is normally 1 - 2 months.
n	Notary - Parties involved usually meet at the Notary where the whole procedure is overseen. The Notary will confirm 'Clean Title Deeds' and the property escritura details in English.
n	Payments are now completed and you will receive the new keys to your Spanish home. PLEASE NOTE THAT THE ABOVE IS JUST A GUIDE AND INFORMATION CAN CHANGE