Buying a Property in Spain
Many experts agree that this is a good moment to invest in the housing market in Spain. Not only for its low prices, but also because the government has passed a new law to encourage foreign investment with the hope of improving the economy of the country. All foreigners, whether EU citizen or not, can buy a property in Spain provided that they follow the different steps to successfully acquired the desired house or land.
Spain counts with diversity of climate, gastronomy and culture which makes it appealing for foreigners who wish to settle their permanent residence in Spain or get a house for holiday purposes only. Moreover, in addition to the Mediterranean lifestyle, Spain counts with excellent educational institutions, well distributed services and public transportations and excellent infrastructure, which makes it even better for living with your family.
>Our Law and our staff counts with years of experience helping clients from different countries to acquire properties in Spain. We operate throughout the entire Spanish territory, even though our main office is in Malaga. Our attorneys and staff are fully bilingual (Spanish-English), thus they can assess you in your own language.
Our main goal is to protect your interests, therefore our attorneys will take every necessary step to prevent you from being object of a fraud or skipping any document that could cause you problems in the future, for we understand that navigating the legislation and procedures of a different country can be difficult for you.
Finding an Estate Agent would be advisable in order to evaluate the different options that are being offered in the market. However, the attorney guiding you through your conveyance process shall equally request certain documents to prevent any pitfall. In this regard, we would need to verify the following information:
Who is the owner(s) of the property: your vendor shall be the legal owner of the property. We can check this by requesting a “Nota simple” in the Land Registry and/or reviewing the tittle deeds.*
If it is up to date with taxes or IBI (“Impuesto sobre vienes inmuebles” in Spain): We can check if such property is compliant with the Town Hall duties by verifying if the taxes are being paid at the local Town Hall Tax Office.
If it is a duly registered property: we can verify that property is duly registered at the Spanish Land Registry and also, request a Certificación Catastral to check if what it is said in the property deeds about construction and characteristic of the same does correspond with what was declared and registered.
If there are no legal matters affecting or related to the property: our attorneys always check that it is not encumbered with any debt or mortgage and there are no further legal proceeding in connection therewith.
If the constructor or promoter is compliant with law: for properties that are still under construction, we can check that the company constructing it counts with all permissions and licenses set forth in the Law.
*You must know that some properties can’t be sold by the “owners” in Spain for they are part of social programs.
Once we are completely sure that the property is compliant with Law, we can help you and represent you, if necessary when opening a bank account, getting the mortgage, drafting the purchase agreement, dealing with services (water and electricity), paying taxes, registering the property in the Land Registry, etc. Always, bear in mind that you will need your passport and a NIE number to be able to buy the house or land. Our Law Firm will help you throughout the full process, thus write us and learn more about our services.