Our Service to property Buyers
We offer our clients a free, personalised property finder service. Our property finder service is 100% free, we are paid by the developer, seller or selling agent
We advice completely independent, we are not guided by commission rates. We are only working to find the best possible property matching your requirements. We source the entire market to identify and pick the selection of most suitable properties for you. We are in daily contact with multiple estate agencies, often local specialized agents, and developers to find the latest opportunities. We are liased to a multiple listing network of 200+ agencies, covering 95% of the stock in the market, including discrete high end listings, often not available on the open market.
As a buying advisor, we help negotiating for you the best possible deal. We work with the most reputable and experienced lawyers on the coast, with in-depth knowledge of the local legalities and ensure you a hassle-free purchase. Our after-sales services are setting us apart. Read more in the after sales section
Purchasing a property in Spain is a relatively straightforward procedure. The property registry shows immediately if the seller owns the property free of liens and encumbrances, therefore a critical step of the checklist.
Usually a private contract of purchase is drawn up wherein the details of the purchase are reflected – the legal description of the property, purchase price, form of payment, date of completion, date of possession, etc. Upon signing the private contract, a payment on account of the purchase price is always made which can vary substantially according to the terms of the sale and the date of completion. A quite normal deposit for completion within 30 to 60 days would be 10% of the agreed purchase price. On completion, a deed of conveyance, the “escritura pública”, must be signed by both parties at the office of a Spanish Public Notary.
Is a lawyer necessary?
It is advisable to appoint a local lawyer, who speaks the purchaser’s language; the lawyer will carry out a title search, and advise the purchaser on all aspects of the investment. Lawyer’s fees are around 1% of the purchase price of the property.
For new buildings, direct from the developer or builder, there is VAT (“IVA”) charged at 10% of the value, plus 1,5% Stamp Duty, and these are paid by the purchaser. On re-sales there is a property transfer tax according to a sliding scale, as follows:
- Tax Rate
- All re-sale properties
- Up to 400.000€
- 400.001€ – 700.000€
- From 700.001€
Notary and Registry fees are set by law and according to a sliding scale. Both fees together amount to approximately 1,5% of the purchase price.
Overall, taxes, legal fees and expenses directly related to the purchase of a property amount to approximately 10% of the purchase price.
N.I.E. (Foreigners’ Identification Number)
Any non-Spanish buyer must apply for an “NIE” number from the local Police Authorities. This number is required for any property transaction (buying, selling, utilities, insurance, etc).