What can I expect at the time of purchase?
If you buy a property in Spain, you will have to consider 13-14% additional costs.
This consists of 10% VAT and 3-4% other costs, such as tax, notary, register, land register, stamps, etc...
For existing buildings, this percentage is about 13% in total.
You will then have to deal with a different distribution of costs (e.g. transfer tax instead of VAT).
If you first buy only the land and then have a house built, very different percentages and rules apply.
In some cases, a different VAT percentage will be calculated on extra options you choose such as a swimming pool, garage, etc...
We will gladly inform you further about this, tailored to your personal situation.
In Spain it is customary to use the services of a lawyer during the purchase process.
The lawyer takes care of a few matters, including the application for NIE numbers (a kind of social security number one needs when purchasing property in Spain).
He also checks that everything is legally in order, checks the purchase contract and goes with you to the notary.
The lawyer can advise you on all kinds of matters, such as whether to make a will for the property in Spain.
It is your own choice if you want to use a lawyer when purchasing, it is certainly not an obligation, but it is strongly recommended.
We can refer you to a multilingual lawyer, who will assist you in your chosen language.
Counselling by a lawyer is not free of charge, but the costs are quite limited and, in most cases, fall within the additional costs mentioned above.
Because we only work with reputable construction companies we can vouch for the properties we sell, but an extra check-up by a law firm is for you and for us an extra security that makes you feel good and safe.