SPAIN is a wonderful country full of new unique experiences waiting for you such as gastronomy, history, architecture, affordable property, the sun and beaches.
However, being in love with Spain and dreaming about moving to this country is not enough to make your plans run smoothly, especially when it comes to purchasing property and the complexity of the related legal aspects.
So, if you are ready to buy property in Spain, you may have decided on the area, the type of property you would like to purchase as well as your budget. The following list of do’s and don’ts will help highlight the safe way to purchasing property in Spain.
- Contract a lawyer. Nobody else can take care of this process more efficiently than an experienced property lawyer. A good metaphor: would you build your own home in Spain with your hands? Probably not. You would usually buy it either off-plan, new-build or second-hand, through a developer or an estate agency, correct? Therefore, the best person to carry out the purchasing process in Spain is a registered and experienced lawyer.
- Be tax savvy. The purchasing process involves different taxes, including non-resident tax once the property is on your name. The Spanish tax man will not forgive any mistakes, so our recommendation is to get advice on what taxes you will liable for, so you are prepared once you legally own the property.
- Make a Spanish will. You should create your Spanish will once you’ve bought property in Spain. It’s a simple procedure that will make the inheritance procedure easier and less expensive compared to only having a will from your country of origin.
- Try a DIY purchase. Big mistake. The purchasing process is not only an exchange of signatures and cheques at the notary. Many people end up paying high costs trying to do it themselves or through people who are not experienced in the legal side of purchasing property.
- Ignore check-ups. Here are some powerful questions: Does the property have any debt in tax, utilities, community fees? Is the property fully registered at the land registry office? Not revising some critical points could come back later in the form of expensive bills and fines.
- Make a ‘risky’ deposit. When you contract the services of a law firm there will be a team of lawyers who will carefully review all the down payments. In Spain, it is quite common to pay a deposit to reserve the property. However, if you have not hired a lawyer to carry out your home’s purchasing process, how would you know your deposit is being kept in the correct way.
Sun Lawyers is a Spanish law firm founded in 1985 with offices in Cabo Roig, La Zenia, Campoamor, Playa Flamenca, Calpe & Javea. Our team of English-speaking lawyers represent both residents and non-residents of Spain in all aspects of legal, fiscal and property law, with giving every client a personal experience a priority. As many people remain in the UK throughout the buying process, we often deal with everything via email and phone.
Phone: (+34) 965 321 193