Call from Spain
On receiving your details, we will call you and discuss your visit. We will also speak about finances and deposits. We will again re-check on the type of property you are looking for. You will then need to book your own flights. Suitable accommodation will be arranged by us for your stay. Should you buy through us we will refund 250€ to cover your costs once 50% payment has been received.
Arrival
Upon arrival, you will be taken to your accommodation and left to freshen up after your flight. Then the hard work begins!!
Your Tour
We will guide you, but also be guided by you. We firmly believe there is a right area and property for everyone - it is just a matter of finding it! You will be shown numerous new or resale properties, depending on your requirements. One of which may be suitable for purchase.
Moving to Spain is a complete lifestyle change and we can assist with information on schools, doctors, cars, management etc. etc. etc.
Remember we once needed the same questions answered.
Buying
If a suitable property is found, you will sign a contract either direct with the builder or through a solicitor. A deposit will be paid at this stage and future payments discussed.
At this point a Spanish bank account will need to be opened.
Return to the UK
When you return to the UK, you will have queries that need answering. Remember, we, or our agent, are only a phone call away.
Updates
We will keep you updated to how your property is progressing as this is often a worry for people who have bought new properties that are still being built or have not even been started.
Returning to Sign
You will have to return to Spain to sign for the property on completion (unless power of attorney has been given to your solicitor.) Also, we will sort out your financial number, called a NIE. This is required for all financial transactions.
The End
Not quite. We don’t just dump you now the sale is complete. There will be numerous queries you will have that still need answering. This is the difference between a large, impersonal company and us.
Payment
Before Departure
3000 € approx Required as a Deposit for any property purchased.
You may find it difficult to obtain cash from a UK credit card from a Spanish bank. We advise that you bring with you either travelers cheques or cash
100 € To open a Spanish bank account
300 € To allow for survey fees if a Spanish Mortgage is required
Further payments will be due about a month after the initial contract. This varies according to the type of the property and also upon your own requirements.
Balance
Paid at the Notary on completion together with all fees including Mains connections, mortgage fees, etc.
Exchange Rates
We must remind you that all purchase price are in Euros. Therefore, the cost of your property will change with the foreign exchange rates. We can recommend a recognized broker who will assist you with exchanging your £‘s to Euros at the best possible rate.
Mortgages
Spanish Mortgages are readily available from all banks. The rates are linked to the European base rate and so do not fluctuate as much as those in the UK. The standard mortgage is usually fixed for the first year and are changed yearly if the rate varies.
Legal Expense
Remember you must add approximately 10% to 12% to the price of the property you have chosen to allow for local taxes and fees. These include the following:
PURCHASE TAX 7 % For all properties
SOLICITORS FEES We recommend a local Spanish (speaks English) solicitor who’s charges are approx 850 Euros. However, you are not tied to our solicitor, but be aware, prices do vary considerably
NOTARY FEES Including Land Registry Fees and Local Searches, Electric and water connections
MORTGAGE FEES Will be approx 1 1/2 %
Other costs to consider are the following:
Phone connections
All lights inside the property as these are rarely included
Furniture, when not included
White goods, when not included
Additional security for the property
Wills
We strongly advise that property owners in Spain make a separate Will to the one they have in the UK. A UK Will only applies if it is officially translated and signed at the Notary. The Will must be read and signed in front of the Notary so it is advisable to have your solicitor prepare this for the same time as you sign for the property. This will save a second trip to the Notary. If the property is in joint ownership i.e. Husband and Wife, 2 Wills are required (one for each of the owners)
The approximate cost is 150 Euros
Further tax information web site
Spanish Tax Info
Spanish tax info specialising in the provision of Spanish tax information, wealth tax in Spain, Spanish income tax, inheritance tax, double taxation Spain and capital gains tax in Spain.
Please be advised that this is only a very basic guide to buying and in Spain and the rules change with the wind! You will be taken through the process in full when you arrive in Spain. Don't worry it isn't as long as it appears!
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