What about buying a house in Spain and buying real estate? Chances are you’re still renting. And you’ve spent time in Spain researching real-estate laws and deciding on the area of the country in which you want to live. You should never rush real estate purchases. Buying real estate should benefit both you and your household. Make certain that your purchase is the correct one. After all is said and done, you’re still asking, “How do I buy Spanish property?” The answer is simple. Follow the local town rules and regulations for real estate purchases. Remember that each jurisdiction anywhere in the world has its own process for acquiring property.
Hire an Abogado to check the house. Is it legally for sale? Lawyers in Spain are called Abogado. The title means the same as, Solicitor, or Barrister in Britain or a Lawyer in the United States. Most lawyers in Spain can speak English very well. Do however; choose your Abogado after asking around for references among expatriates. You’ll want the Abogado to be objective and most important, to be working for you. Choose a bilingual Abogado (Spanish/English) if Spanish is not your first language.
When the time comes to sign the “contrato privado de compraventa,” (legal contract) it’s time to pay the deposit. Be certain that your Abogado (lawyer) has checked all the legalities and is satisfied with the real estate paperwork. If this is not the case, do not hand over your deposit on the house. Be aware that the deposit, although placed into escrow, is non-refundable, and this contract is legally binding.
Some house sellers, before the actual purchase, routinely ask for a Documento de Reserva (reservation contract). This contract takes the house off the marketplace. Before the final Escritura de Compraventa (sales contract) is completed, talk to your Abogado. You’ll find that a Gestor can introduce you to a good notary. There is another professional who plays a part in the sale of real estate.
At the signing meeting he or she will read aloud the property deed with your Abogado and possibly an interpreter (if needed). In Spain signing is done by you and the seller in the presence of a notary and if a mortgage is involved, a bank representative will be in attendance. Here you sign the Escritura de Compraventa. You now have your own home. All realty charges, other fees, and taxes are usually paid by the seller. You will usually pay the property registry fee, and transfer tax.
Now you must register it with the Registro de la Propiedad. Numerous knowledgeable sources tell you to add about 10% of the total property cost to the total bill so that you can handle the Valia taxes and your legal fees.
Sam Tonzenger writes articles primarily for http://www.spain-tips.com , an internet site with topics around how to find property in spain . His articles on bureaucracy in spain and how to find property in spain are published on his website .
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