When buying or selling a Spanish Property, it is very important to have an independent Spanish Lawyer to defend your interests in the transaction.
It is best to hire a lawyer before you set out to inspect possible purchases. You will want a lawyer who is fluent in English and Spanish, with experience in Real Estate. We help guide you through the purchase process and inform you of every step of the way, right from the start before you sign any contracts or part with any money.
Once you have found the property you wish to buy, we will carry out a search to make sure it has a clear title with no debts or encumbrances and that it complies with the Law. Then we will draft a a private purchase contract, where a holding deposit is paid, usually 10% of the purchase price, and the balance is paid on completion usually 30 to 60 days after, when you sign the Official Title Deeds (Escritura) in front of a Spanish Notary. At this point you receive the keys and take possession of the property.
The deeds then are sent to the Land Registry and once the Stamp Duties and Taxes have been paid, you receive the original registered deeds some weeks later.
Once the deeds have been signed, we arrange for the electricity, water, gas, local rates, refuse collection and any other services to be changed in to your name and to be debited in your Spanish Bank Account.
For us to be able to act on your behalf and carry out these tasks, we arrange a POWER OF ATTORNEY in the UK for use in Spain. All you need to do is sign it once in front of a UK Notary, and that is all the paperwork taken care of. This avoids you having to travel to Spain in person and spend time filling in forms and dealing with the Spanish bureaucracy.
Accounts you need set up: To buy in Spain, you will need an NIE Spanish Tax number, Foreign Exchange Account and a Spanish bank account. It is best to set these things up in advance in order to save time and money. We arrange all this for you included in our services.
Selling your Spanish Property: it is a lot easier than buying a property, nevertheless there are tax implications and contracts that need to be prepared and deeds to be signed, so it will save you a lot of stress and money to have us assist you with the sale and explain the process. It also makes it much easier for the buyers to communicate with us, which avoids delays and legal complications.
Updated on 2017-09-29T12:16:18+00:00, by .