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Press release content from KISSPR. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from KISSPR
Press release content from KISSPR. The AP news staff was not involved in its creation.

Nine steps towards your own property in Spain Report by Spain Real Estate

September 11, 2022 GMT

09/11/2022, Dubai, UAE // KISS PR Brand Story PressWire //

Investing in real estate in Spain - this topic is becoming more and more popular every year among expats who are looking for opportunities to profitably invest their money. To find out villas prices in Spain go over to the Spain-Real.Estate website.

Preparation steps

  • Select the property you are interested in

Choosing a home is a responsible step. You need to decide what type of property you want and are ready to buy. When choosing a property, you should, first of all, compare your budget, needs, and tastes with the offers of the Spanish real estate market, and it is also very important not to make a mistake with its location.

It should be noted that there is the possibility of choosing and buying housing online - in cases where a trip to Spain is impossible or difficult for any reason. Nowadays, this process has become much safer and more reliable.

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  • Get a Foreigner Identification Number (NIE)

Once you’ve made up your mind and have chosen a property, it’s time to move on to the buying process. And the first step in this is getting a Foreigner Identification Number (NIE). It is needed by any non-citizen of Spain who intends to make financial and legal actions in Spain that go beyond the scope of a tourist stay - buy a property or a car, pay taxes, sign an agreement with an Internet provider, get a mortgage. The approximate time for obtaining an NIE is from a week to two months.

  • Find a lawyer who speaks your language and Spanish

Buying a home and paying all taxes is a complex process with its peculiarities and subtleties. The help of a specialist who understands Spanish laws in the field of property is indispensable.

  • Open a Spanish bank account

A bank account in Spain is opened for both residents and non-residents of the country. For settlements with the seller of real estate and payment of further utility and tax payments, it is necessary to open an account in a Spanish bank. You can open it for free and close it whenever you want.

Actual deal steps

  • Sign the “Booking Contract”, or “Arras”

“Deposit agreement”, the essence of which is to reserve an object with its subsequent purchase at a price set at the time of making a deposit.

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As a rule, the property is booked for EUR 3,000 or EUR 6,000, and within 15-30 days, the booking is completed with payment of up to 10% of the cost of housing.

  • Apply for a mortgage (optional)

  • Sign a sales contract

You, your lawyer, the mortgage service provider (if necessary), and the seller (or his representative) meet at the notary to sign the bill of sale. The notary will read the bill of sale, the buyer and seller (or their legal representatives) will sign it, and they will also hand over the keys to the new house along with the Energy Saving Certificate and other documentation.

  • Pay taxes and other expenses

The purchase of real estate entails the need to pay certain taxes and fees. When buying a new home, VAT and stamp duty are paid, which depends on each province. When buying a second home, a Property Transfer Tax is payable. A notary fee is also paid, the price of which ranges from EUR 600 to EUR 1000, as well as a fee for registering the property.

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  • Register your ownership in the cadastral and property register

After signing and paying taxes, the deed is submitted to the Property Registry of Spain. Registration usually takes 1 to 3 months.

Real estate in Spain

Buying a home is one of the biggest investments most people make in their lifetime. So why take the risk without getting proper legal advice? Spain-Real.Estate is ready to provide you with support at all stages of this process!

Media Details:

Company name; Spain Real Estate

Email address: info@spain-real.estate

Address (country, city, street); Spain, Barcelona, Avinguda Diagonal 3



Source: Story.KISSPR.com



Release ID: 232092


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