Buying a house costs a considerable investment, and it has various depending factors within it. And also, this is a process that takes a long time, and you will have to face certain difficulties as well. If your intended buying property is located in another country, the process can be a little bit harder than usual. However, buying property in Spain doesn’t have to go with so many difficulties like other countries, and a foreign buyer can do it easily. So here are several steps that you need to follow when you are buying property in Spain.
The first step to consider on buying property in Spain is the market research. You need to take plenty of information to know if this would be the perfect time for an investment in a property. There must be a knowledge of the current market and the value of the same kinds of properties. So you will acquire the needed security to buy your needed property.
Then how is this real estate market has to be studied? These are the ways.
Once the market research has been done, you will find the perfect property you have been searching for. Make sure to study the main characteristics of it and the legal situation it holds.
Take a look at of
In addition to these, it is required to have official certificates like Energy performance and the Technical Building Inspection. And also need to take the former guaranteeing conservation of your property and the latter guaranteeing for use all energy consumption as a right.
How can you take this Technical Building Inspection?
There are several documents to be submitted here. Those are
Remember that these all certificates are mandatory, and those are necessary for the serious consequences and the cases of noncompliance.
What is this Energy Performance Certificate?
This can be identified as an official document, and it is done by qualified technicians to list all those energy characteristics within a property. Energy performance certificate has been a compulsory thing since 2013, and it has to be requested when the property is up to rent or sale. You can obtain this certificate through contact with a competent technician.
When buying property in Spain, the first thing you should ask yourself is that if you really need to buy a house. If you don’t own the possibility, check for mortgage financing, and it will offer you a mortgage loan once you have completed the characteristics.
Requirements to have a Mortgage Loan are
For this task, the bank will ask you to know these factors.
Once your research has been completed, the purchase-sale contract has to be there. And ensure the seller is undertaking all the sell property after signing that contract. Everything has to be agreed with your seller, which is specified on the contract, and it is crucial. And then, the property should be handover with the price of the payment.
Generally, a real estate lawyer in Malaga and Nerja will be represented here to formalize, and the contract will be registered on the Land Registry. This is an act of having full protection and to consider as a sole owner. It will be better to have an English speaking lawyer in the Malaga area so that your works can be easily done as a foreigner.
These are the payments of the tax series, which are calculated depending on the purchase property price
Finally, it is time to consider all the costs from the whole process
To save your time with money, detect property problems, and avoid all those problems arising from this process, you can have help from a specialist. A specialist will help you know all the necessary documentation to resolve any probe, and he will guarantee you an effective and quick purchase. We recommend you get help with an attorney in Malaga for buying property in Spain. You can easily reach out to our Nerja or Fuengirola office.
Other articles might interest you:
What taxes do non-residents who own properties in Spain have to pay.
What is NIE number and why do you need one in Spain.
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