Steps in the purchase of a property in Costa Blanca

Steps in the purchase of a property in Costa Blanca

Holidaydream Estate Agents

In Holidaydream Inmobiliaria we offer and we handle all the steps involved in buying a home in Spain.

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Control documentation homes before starting any procedure of sale

We prepare contracts of sale

We help get the NIE number and open a bank account in Spain

We prepare the public deed at the notary.

We assist and accompany the day of Notaría

We help you rent your home

We recommend the best professionals for the maintenance of your home (Builders, Gardeners, Architects)

Or if you prefer legal representation (Legal Services), we present the best professionals in the area

Information for buyers

Spain is a member of the European Union and has a strong legal system in real estate law and notarial law. With the help of professional advisers, homeownership is legally secure.

The citizens of the Member States of the European Union (EU) are not subject to any restrictions on the purchase of real estate in Spain. For citizens outside the EU must take into account some peculiarities, but in principle, the acquisition of a property is not a problem.

Tax ID number NIE / NIF

NIF tax identification number or N.I.E. or identification number for foreigners).

All foreigners who want to buy rent, open a bank account in Spain need this number.

We can do this formality for you if you wish.

Making the purchase

In Spain there is no special requirement to purchase a home.

From Holidaydream Inmobiliaria we recommend making a private contract and then go to a notary and make the deed of sale.

In the private contract must be written all agreed terms, sales price, inventory, payment, date of writing, etc.

Reservation payment

At the conclusion of private contract written, in general, 10% of the total price, which is deducted from the final payment when they go to a notary and made Deed of Sale and property rights pass to buyer is deposited. Public Deed of Sale is prepared by the notary is a prerequisite to registration Land Registry (Land Registry)

Notary / Registry of Property

Before signing the Deed of Sale, notaries ask the property registration a simple note of the property they will buy, with this document, the property is reserved for five days. If other notaries solictaran a simple note, it would be rejected.

The buyer and seller must identify themselves to the Notary and can only be represented by a power of attorney. The notary reads the sales contract prepared a few days before the signing, with all the verified data, Cadastral reference, be paid local taxes IBI (property taxes) Pick-up of solid waste, Certificate Energetics, agreed the price with the deduction of deposit paid in advance.

Payment can only be done with a certified bank check. not cash.

After the signing of all parties and the notary, the property is the name of the buyer.

The same day the notice sent electronically to the Land Registry information to be registered in your name.

After the appointment with the notary, the property is registered in the office of the Land Registry on behalf of the new owner, which guarantees, under European law, absolute protection of their property rights.

Acquisition costs a house in Spain (Costa Blanca)

Buyer pays the legal and registration expenses of the property. The costs are 11-12% of the purchase price.

Disaggregated as follows:

  • When buying a second-hand property, the buyer pays tax of 10% (Impuesto de Transmision Patrimonial ITP) of the value of the property.
  • When buying new construction, 10% IVA / VAT (Impuesto Sobre el Valor Añadido) plus 1.5% of A.J.D. (Actos Juridicos Documentados) of the value of the property.

Under Spanish law, the cost of real estate agent commission is paid by the seller unless otherwise agreed. You do not have to pay anything to the real estate agency.

Future expenditures

  • IBI (property tax)
  • Solid waste collection (garbage)

This tax is 0.4 to 0.7% of the appraised value, depending on the municipality.

These taxes are paid annually in the fall and is based on a percentage of the appraised value of the property, its estimate is subject to local regulations.