This is a small summary to buy a property in Spain

This is only a very small text, but with enough information to start the dream to buy a property in the Costa Brava.

 Enter your details in our contact form if you have any question, you are always welcome.

 

1-HAVE THE MONEY

 

This sounds obvious, when I say to my clients, but a lot of times buyers put the cart before the horse.  

Many times clients go to a real estate and begin to see many properties and when a property likes they want to start negotiating with the owners, and when we have an agreement with the seller. Then ask me about how works a loan in Spain, or They simply don't know that is necessary to pay taxes to buy.

So the first step is ask your agent about all the details, this is very important.

 

2- NIE NUMBER

 

A no resident person in Spain needs an identification number.

Spanish government ask for this number for all operations in Spain, buy, sell, receive inheritance and any other transactions.

This document is made by the Spanish police “policia nacional”

3-OPEN A BANK ACCOUNT

Account number is necessary to buy in Spain, the day of the transaction in the notary, the money must come from a Spanish bank.

The account number will be necessary in the future to pay supplies, insurance, tax etc.

 4-CHECK THE PROPERTY

When we find the property that we want, it is necessary to check that the property is in order and has no debts.

Very important check the following:

“Registro de la propiedad”

The property register is an official office in Spain, and is where all property in Spain is registered. They report ownership and any outstanding debts, for example to banks or town halls.

Is very important ask for a document called “NOTA SIMPLE”,  this document give all this information.

If in this document there are debts, it does not mean that it is not possible to buy this property, but the debts must be out before you buy, sometimes these debts go out the same day of the sale in the notary.

 

“Comunidad de propietarios”

If the property is part of a community of neighbours, for example buildings or houses with swimming pools, gardens, lift or others.

Is necessary ask the “ADMINSTRADOR DE LA COMUNIDAD” a certificated saying that all is paid on time, the day of the sale.

It Is important to ask for the future works to do in the future and if this works is already paid or no.

 

 

“Ayuntamiento”

Is necessary ask a certificated in the Town hall to know if there are debts.

 4-CLOSED THE DEAL

When we find the property of our dreams, is time to make a contract with the owners to book the property.

This, is before the day of the sale in the notary. This contract is a private document between both parts, Seller and Buyer.

There are different contracts, the contract most used is “CONTRATO DE ARRAS PENITENCIALES”.

 

 

In this contract there are basically this rules:

The price, the money that the buyer pay to the seller, the day that this contract is signed, and a dateline.

Also, other information, for example the m2, the address, names buyers, names sellers etc…

 

 

Usually the money to book a property is a 10 % of the sale price, and the time of the deadline is about two months. But this contract is a private contract between both parts, and all the agreements are possible.

One of the more important rules in the arras penitenciales, is that both parts, lose the same if they breach the contract.

 

If the buyer Don’t buy in the dates of the contract, lose the money that give to the owner.

In case that the owner change his mine and don’t want to sale the apartment, he must return two Times the money, that he received.

Alex Boix Esteva (Agente de la propiedad inmobiliaria)