To buy a house in Spain. Houses for Sale in Spain

buy house spain

How to buy a house in spain

There are many ways of buying property in Spain. The type of contract will depend on the type of property, whether new build or resale, the nationality of the buyer (understandably, sellers are more keen to get a binding deposit from an overseas buyer), the speed with which the buyers want matters concluded, and how much they trust the seller.

If all the due diligence can be completed quickly it is possible to buy a property in Spain in a day or two, but never attempt to buy quickly if it means skimping on your legal protection.

Compared to many countries’ cities, Spain’s are clean, safe and well-managed, with extremely good shopping both in street markets and high-end international brands.

And of course, the café culture in tapas bars and street cafés is unsurpassed. The rental potential for a property in the city can be very tempting too.

What to look for?

Know that whatever is stated on a later contract, the seller must provide what is listed on the initial sales information, including all services and facilities.

So when conducting a viewing, they check that the property matches what is listed on the details in terms of quality of materials, state of repair, views, the local neighbourhood, noise, access to transportation, etc. They bring any issues to the attention of the seller or agent showing them the house and, if they are not convinced by the agent’s explanations, they may return accompanied by a professional architect or surveyor to inspect it and get a valuation to correct it.

Any company selling or promoting housing should make the following information available to the public:

1. The trade name, company name, address.
2. Where appropriate, the details of the seller/owner entered in the Companies Registry. (Or just ask for the simple note, “Nota Simple”, of the property – which contains all the information).
3. A map showing the location of the property and ideally a floor plan.
4. A property description, showing its gross overall area and ideally its internal usable area (see box, right) and, where appropriate, a general description of the building in which it is located, the common areas and ancillary services.
5. Energy performance certificate (CEE), listing materials used in construction including acoustic and thermal insulation, building and common areas, and ancillary services. Make sure that it is stamped as being registered with the Regional Authority as only then will it be accepted by the Registrar. The certificate is valid for up to ten years. It has to be.

Expatriates living in Spain will usually

coast valencianExpatriates living in Spain will usually already have an NIE, as you need one for many transactions; certainly anything that involves paying tax. Property buyers arriving from outside Spain, however, will need to get one. NIE stands for número de identificación de extranjero and is essential for buying property, obtaining mortgages and getting utilities connected. Since Frank and Diane are buying the property jointly they each need an NIE.

It is not complicated to get, but it can take from one day to six weeks. Since you need it to sign the escritura, you will need to apply at an early stage in the buying process. It is often the first thing you do after agreeing on a property, and often the estate agent will help, taking you down to the immigration or tax office and ensuring you have all the correct documentation.

Most people apply in person but you can also apply via a Spanish embassy or consulate by following this link: http:// tinyurl.com/pvf2un3. You can applythrough a representative, or by post

Eight things your lawyer should review

guide-to-buying-property
Guide elaborated by Registradores spain

1. Who owns the property, and therefore who has the right to sell it.
2. If there are debts against it. For example, a mortgage or court judgement.
3. If there are sitting tenants in the property.
4. If it is subject to any special rules such as subsidised housing.
5. In case of an urbanisation, whether the seller is up-to-date with the community fees.
6. If the annual real estate tax (the former “contribución urbana”) has been paid.
If it has not been paid within the last five years, the new owner will be responsible for payment.
7. For new or off-plan homes, if insurance is in place to cover any damage that may result from structural defects of the building.
8. For Subsidised Housing (VPO), or Appraised Price Housing (VPT), if there is any prohibition against selling it or any rights of first refusal from the authorities.

 

Your lawyer will get all the information

A buyer could also get the information herself, or the seller, estate agent or administrative manager could do it for you. Either way,do not hand over any money other than a reservation deposit or sign any contract other than a reservation agreement until you have checked this information.

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