Who will oversee the purchasing once I return to home?
Please be confident that we will be monitoring the progress of your purchase. In the case of new constructions to ensure that the stages are going ahead as planned and in the case of re-sale properties to ensure that once the property has been inspected for encumbrances that the signing of the title deeds can take place as soon as possible thereafter. We will endeavour to keep you well informed at all times.

Can I purchase a property from overseas?
If having returned home you wish to make an offer on a property you have seen we can put this to the owner of the property on your behalf. Once it is accepted we can arrange for the contract to be sent to you or your solicitor by fax or courier. You will be required to sign and return the contract and transfer the deposit before your offer is officially accepted.

Purchasing a Property - what happens next?
Once you have decided on the property you wish to purchase and the terms and conditions have been negotiated with the vendor then a deposit of 10% of the purchase price is required to secure the property and as official confirmation of your intent to purchase that property. The remaining 90% is payable on the signing of the title deeds before the Notary.
If you are purchasing a new construction then the constructor will ask for stage payments to be made on the property. These can vary dependent on the constructor.
Your appointed solicitor will then carry out all necessary searches on the property; to ensure that it is owned by the vendor, it has planning permission, there are no outstanding debts or charges on the property and other legal encumbrances.
Once the searches on the property are satisfactorily completed and the deposit has been paid in accordance with the terms and conditions of the contract then the title deeds are signed by both the purchaser and the vendor before the Notary.

What if I am unable to attend the Notary to sign the title deeds?
It is quite normal for your solicitor to have Power of Attorney in order that they can sign the title deeds on your behalf. You will need to have transferred the final balance for the property plus taxes to them prior to the signing of the deeds and completion of the contract

The Notary (Notaria)
This is a solicitor appointed by the Spanish government to witness the signing of all legal public documents. In this case the title deeds (escritura) of the property. He represents both the buyer and the seller. The Notary fees are around 1% of the purchase price of the property and must be paid at the time of the signing of the deeds. The Original signed document is retained by the Notary who will apply for a formal change in the land registry. The purchaser will receive an initial legal copy of the title deed which is signed and stamped by the Notary. The official title deed can take a while to be processed and until then this is your official proof of ownership and must be kept in a secure location.

Taxes
We recommend that you allow a sum of around 10% of the declared price of the property to cover payment of purchasing fees e.g. land registry fee, notary fee, legal fees and taxes.

Plus Valia (land/capital gains tax)
This is generally paid by the owner or the buyer (depending on the agreement) when they sell the property. The tax is calculated on capital gain of the land.
Transfer tax is calculated on the increase in the value of the land from when it was last sold. The calculation is based on the rateable value of the property and is a 'one-off' payment.

What if for some reason I am unable to complete on the purchase?
Once you have signed a contract to purchase the property and paid a deposit this is considered an official intent to purchase the property. It is therefore extremely important that you are absolutely certain that this is the property you wish to purchase and that you do not feel under any duress to sign the contract.

How long does it take between signing the contract and completion?
The whole process usually takes 8 weeks.

Will my deposit be refunded if the searches are returned unsatisfactory?
Yes, if for whatever reason the searches are returned unsatisfactory, you will receive your deposit back in full. It is for this reason that the initial deposit is not paid immediately to the owner but held by your solicitor.

Do we have to use your solicitor when we purchase a property?
No. You are free to use a solicitor of your choice however can recommend one in the local area if required.

When will I receive the keys to the property?
As happens in the UK you will be given the keys on the completion of the signing of the title deeds and paying the balance with the owner at the notary.

What is an NIE Number?
NIE number ( Numero de Identificacion de Extranjeros)
You will be required to have an NIE number for any financial dealings you may have in Spain. This is a simple, but sometimes lengthy process which involves filling in a form with your solicitor, you also need to supply a colour passport photo, a photocopy of your passport and your passport, the solicitor will then obtain your NIE number from the local police station. The NIE number can take anything from 1 week to 5 weeks to be obtained and we strongly advise you to apply for one as soon after you arrive in Spain. The price for this is generally included in the fee for the conveyancing however, if you wish to apply for one earlier the fee is normally around 60 Euros.

Will I need a Spanish Bank account?
Whilst it is not a necessity to have a Spanish Bank Account to purchase a property in Spain we strongly recommend it. We can help you to open an account at the bank of your choice. The cost of opening a bank account for non-residents is ususally free.

Community Fees
These are payable yearly and the average price depends on the size of the property. These are paid in respect of services ie. Street lighting, refuse collection, police.

Water
If your property has a mains supply then there is a standard charge for water which is approximately 12 Euros payable every 3 months. The charges for consumption are in addition to this.
If you have a supply from a balsa, underground store, then the fees are dependent on consumption and are payable when the water is delivered.

Electricity
This is very dependent on how much you consume, there is a standard charge of around 12 Euros payable every 2 months and then a charge for consumption in addition to this.

Telephone
The standard charge for a telephone line installation from Telefonica is around 180 Euros. The line rental and call charges are then payable every 2 months.