Find out all you need to know about buying a property in Spain
There are a number of potential pitfalls for those who consider a property purchase in Spain, but with help from our specialists the process can be easier and simpler than you might have thought. Buying a home in another country may seem like an intimidating prospect, but with expert guidance from Simply Costa Developments it can be extremely stress-free.
In many ways, the process of buying is similar to the UK. The buyer views the property, makes an offer and the seller decides to accept or refuse that offer. An estate agent is usually involved but this isn’t a legal requirement. If the purchase is agreed, both buyer and seller sign a contrato privado de compravento, a preliminary agreement. The buyer will then need to pay a 10% deposit.
There will also be other payments that need to be paid. The estate agency fees will be paid by the seller, but the buyer will have to take care of issues such as property transfer tax, notary fees and legal fees. Taking out a Spanish mortgage obviously involves a major monetary commitment, so be sure to get advice from our team before signing on the dotted line.
Any foreigner who buys a property in Spain will need to obtain a NIE number. This is an identification number for non-Spanish people, and it’s a legal requirement. If you and your partner are purchasing the property together you will both need a separate NIE number. You can apply for one in Spain, or at a Spanish consulate in another country or you can appoint someone to apply on your behalf.
Of course, there are many different reasons for moving abroad, including an opportunity to start a new job, a desire to join friends and family members who already life there and a chance to retire and live out your days in the sunshine. Whatever your reason might be, it makes sense to speak to the experts about the financial implications that await you.
To find out more about what needs to be done, call Simply Costa Developments. Our advisors can offer all the guidance you need, so contact us on +34 682 66 22 89. We look forward to hearing you, and to advising you accordingly.
Words from our customers
Thank you both for your efforts and we shall certainly pass on your name to anyone we know who wishes to sell in the future. My best regards
A huge THANK YOU to you and Neil for everything out have done for me, you have been BRILLIANT. Wishing you both all the joys of Christmas and may 2018 bring you Health, Wealth and Happiness.
Love Pat xx
Thank you so much for all your help in getting this completed so efficiently. Best regards