1. what steps do you need to do to buy a property in Spain?

After the presentation of the property by our company, you need to make a decision on the purchase of a particular property.
– sign a reservation contract
– obtain a tax identification number NO
– set up a bank account with a Spanish bank
– Notarized contract of sale of real estate with simultaneous translation during purchase
– Perform post-purchase activities: payment of taxes, registration of real estate, change of entity on service contracts

2 What is an N.I.E. tax identification number?

The application for an N.I.E. number is submitted to the Police Station along with a copy of the passport or ID card. Stamp duty is charged for obtaining the number. You will need two photos. The N.I.E. number is used for all legal and tax activities.

3 What is a reservation agreement?

To reserve a property, a reservation contract must be signed, the buyer is required to pay a deposit of about 6000 euros. The above amount is credited to the purchase amount.

4. do you need a law firm when buying property in Spain?

Hiring a lawyer guarantees security when buying property in Spain. A power of attorney signed by the client in the form of a notarial deed is needed for the lawyer to represent the client during the purchase of the property.
We can draw up such a power of attorney before a notary in Spain during the client’s first visit to Spain. If the power of attorney is granted in Spain it is sufficient for the attorney to start acting on behalf of the client

5. what does a law firm in Spain do after signing a power of attorney?

Your lawyer will check your chosen property, for example, whether a building permit has been granted, whether the property is not encumbered with debts and free of credit, whether the plot is owned by the developer.
The lawyer will ensure that the client receives a payment schedule with a list of all required fees at each stage of the purchase.
During the process of signing the Notarial Deed at the Notary’s Office, clients using the Legal Office are always accompanied by a lawyer who oversees all the documentation, making sure everything is as it should be and in accordance with Spanish law.
Once the deed is signed, the lawyer will rewrite the contracts for the utilities, can act as a tax representative before the Spanish Tax Authority, establish standing bank orders to pay bills.

6 Why open a bank account in Spain?

A bank account in Spain is necessary to complete a real estate transaction and then to pay current bills for water, electricity, gas, telephone, internet.

7. Is it possible to take out a mortgage in Spain to buy a property?

For the purchase of real estate in Spain, you can take a mortgage from a Spanish bank, currently the own contribution is about 40%, everything depends on the documentation of the borrower and the bank’s decision.

8. what is the language of the deed?

The contract is drawn up exclusively in Spanish, nevertheless during the purchase it should be translated simultaneously by a translator appointed by the buyer.