About Buying in Spain

1. Decide on the basics
   How much you want to spend, what type of property and number of bedrooms you require.
   If looking for holiday/rental homes you should consider coastal or golf club properties that offer maximum amenities.
   Golf course property offer all year round rental potential.
   If it is a permanent/semi permanent home then you may want to consider town, village or country locations that offer all the municipal services on your doorstep and a more tranquil lifestyle.
2. Select a region
   Most northern Europeans are looking for the warm winters – you can therefore narrow your regions to the Costa Blanca, Costa Calida and Almeria.
   Choose an area that suits your lifestyle and needs at the outset, consider which factors are important to you ie: work, healthcare, education, employment/business, sports, leisure and academic activities.
   Too wide a scope can be confusing and frustrating so be prepared to do your homework - its time well invested when you consider you are spending your hard earned money on a Spanish home. 

1. A reservation is made, paying a deposit of approximately £2000. This freezes the price and takes the property off the market.
2. The contract of sale (contrato privado de compraventa) is drawn up in which the method of payment and delivery date are agreed. At this stage the first part of the payment is made (usually between 25% and 50% of the total price). Developers are flexible, therefore each payment schedule is negotiated individually with the developer to suit both parties.
3. During construction one of our services will be to keep you informed of the building work progress, allowing you to maintain peace of mind during the term of construction.
4. On completion, the last payment is made (or you initiate payment of the mortgage). At this stage the official Deed of Sale (Escritura Publica de Compraventa) will be prepared by a Spanish Public Notary (Notario) and signed by both Purchaser and Vendor.
5. Once signed, you receive a temporary copy of the Escritura (know as a “Copia Simple”) and the original is sent to the Land Registry for registration. It is then returned to the Notary who will hand it to you some weeks later. Meanwhile the Copie Simple is your official notarised Title Deed to the property.

New Properties

New Properties: 7% VAT (of purchase price)
Notary and Land Registry fees:  0.7% (approximately)
Stamp duty:  1%
Electric and water contracts: 240.00:-€uros (approximately)
Plus Valia (Land Tax): 1% (approximately)

Resale Properties

Resale Property: 7% Transmission tax (of purchase price)
Notary and Land Registry fees: 0.7% (approximately)
Electric and water contracts: 240.00:-€uros (approximately)
Plus Valia (Land Tax): 1% (approximately)

Our Costa Blanca office has a fully licensed solicitor in Spanish Law and offers professional legal advice in a conveyancing package FREE of charge to those clients who purchase a property through PARSON International.

Property conveyancing includes: 

1. Personalized property search to ensure the property/land is free of charges / encumbrances
2. Payment of administrative taxes and fees from clients account on clients behalf:-
   • Notary Fees
   • Land Registry Fees
   • Transmission Tax
   • Stamp Duty
3. Service contracts for water, electricity, community fees and town hall rates
4. Opening of bank accounts and arranging of direct debits for service contracts and town hall rates
5. Verbal translation of title deeds
6. Property insurance, mortgages and financial matters.
   This package offers prospective purchasers a cost saving of 1200 -€uros

Other services that we provide :

Fiscal identification numbers: 90:-€uros per person
Power of attorneys: 150:-€uros
Last will and testament: 150:-€uros per person
Yearly fiscal representation: 150:-€uros per person
Tax return declaration: 300:-€uros
Residence permits: 300:-€uros per person

(all of the above include notary fees and translation)

Mortgages

Employees: P60 and last 3 wage slips
Self employed: Business accounts (last 3 years, each bank may vary)
Retired persons: Pensions and other income (only up to age 72).  Property purchase contract or copy of title deed