CONVEYANCING & PROPERTY
BUYING PROPERTY IN SPAIN
Whether you are buying a property in Spain for the first time, moving home, taking on a new and exciting renovation project, buying off plan or adding a new property to your existing portfolio it is always important to have an experienced solicitor working for you. At DRM Abogados we will quietly and confidently handle all the legal issues in the background and manage your risk so you don't have to.
Buying property in a different country does not need to be stressful. Our lawyers will help you navigate the complicated legal processes and explain to you all the intricacies of the property transaction you are undertaking in a clear and straightforward manner. At all times, we will ensure that your investment is safe and that your property is built in accordance with legality.
Our specialist team of Spanish and English property lawyers have helped hundreds of people buy a new home. We will guide you on every step of the way, from pre-contract right through to completion. It is our job to make the entire process as smooth as possible and to ensure that the property you are buying is legally sound and lives up to your very high expectations.
At DRM Abogados we recognise the importance of undertaking a thorough due diligence process before buying and so we offer a comprehensive conveyancing service that goes above and beyond what most Solicitors in Spain would normally undertake. On this regard, we can assist you with the following:
Land Registry Search
We will conduct a land registry check to ensure that the property/land you are buying matches the registrations in the Spanish Land Registry. This will also confirm that the vendors are the legal owners of the property and provide us with information on any charges, such as a mortgage, registered against the property as well as any other debts or embargos.
Building Permissions
We will check that the property has been built in compliance with all planning and building regulations. As you may be aware, there have been many widely publicised horror stories in the press regarding properties built illegally in Spain. Carrying out these checks prior to your purchase will reduce the risk of any potential problems arising in the future. As part of this process, we will also ensure that the property has a valid First Occupation Licence or Habitation Licence.
Utilities
We will obtain up to date debt statements on the accounts of the different utility providers, the Local Authority and Community of Owners. In Spain some of these debts can be claimed against the property even if they accrued at a time prior to you becoming an owner, so it is important that all debts are settled prior to completion.
Property Survey
Whilst it is not mandatory in Spain to commission a private survey of the property you are buying, it is always advisable to do so. A surveyor or an architect can undertake a detailed inspection and report upon the physical condition and structural stability of the building you are buying. At DRM Abogados, we will obtain quotations on your behalf and arrange the visit to the property. If you are purchasing with the aid of a mortgage from a Spanish bank, the lender will commission a valuation of the property which is a different and more basic report prepared solely for the benefit of the bank.
Private Contract and Payment of a Deposit
Many overseas buyers often make the mistake of handing over a deposit at the outset, often directly to their estate agent or the Seller itself, and without having a Solicitor review the terms and conditions in which the money is being handed over. Our advice is always that the deposit payment is not released until we have undertaken thorough land registry checks. Once these are undertaken, we will draft a private purchase contract and agree the terms with the vendor’s solicitor directly.
Setting up Utilities
Upon completion, we can assist you set up all utility accounts in your name. The utility providers often will insist on setting up direct debits to your bank account and we can assist you in obtaining a bank account.
NIE Certificate
When purchasing a property, overseas buyers need to obtain an NIE certificate. A NIE Number is an identification number for foreigners in Spain. You will require an NIE if you intend to buy or sell property, enter into any contracts, such as mobile phone contract, open a bank account, start up a business or even to simply work in Spain. As part of our service, we will help you apply for the NIE certificates.
Energy Efficiency Certificate
As from 2013, all property sold in Spain are required by law to produce an Energy Efficiency Certificate. We will ensure that this document is in place as part of our conveyancing service.
Spanish Bank Account
When purchasing a property in Spain, you will need to make payment of various bills usually by direct debit. As part of our conveyancing package, we will assist you in opening a Spanish bank account with a bank of your choice.
Completion Statement
Prior to completion you will receive a Completion Statement which details all of the associated costs of purchase. The main disbursements to budget for are Land Registry Fees, Notary Fees and the Spanish Property Transfer Tax. Example costs based on a purchase of € 100,000 are approximately as follows:
Mortgages
Many clients purchase their property with finance from a Spanish bank. Whilst obtaining finance has become more difficult in recent years, it is still possible to obtain finance of around 60% to 70% of the property value. There are additional costs to be considered when purchasing a property with a mortgage, as the lender will charge a set up fee and there are additional taxes due. If you are buying with a mortgage, we will liaise with your mortgage provider throughout the conveyancing process. We are also able to obtain mortgage quotations upon request.
Power of Attorney
Many clients are not able to attend in person on completion day either because they are not in Spain or due to other commitments. This is however not necessarily an issue. We can draft a Power of Attorney to enable us to sign and complete the purchase on your behalf.
Notary Signing
Completion is formalised before a Public Notary. This is usually at a Notary office close to where the property is located. We will attend the notary signing, either with you or with a Power of Attorney to act on your behalf. The notary will typically take around 2 hours of your time.
Title Deeds
Following the notary signing, we will ensure that all taxes are paid and that the Title Deeds are sent to the Spanish Land Registry for registration. You will receive the formal Title Deeds back from the Land Registry approximately within one month after completion.
We pride ourselves of our local expert knowledge and will provide you advice in a language you will understand. As part of our service we can:
We only charge simple, upfront fixed costs and you can get a full quote for the cost of our services by calling us today on (+34) 952 78 04 54 or by contacting us online for a free consultation without obligation. We will get back to you as quickly as possible.
Buying property in a different country does not need to be stressful. Our lawyers will help you navigate the complicated legal processes and explain to you all the intricacies of the property transaction you are undertaking in a clear and straightforward manner. At all times, we will ensure that your investment is safe and that your property is built in accordance with legality.
Our specialist team of Spanish and English property lawyers have helped hundreds of people buy a new home. We will guide you on every step of the way, from pre-contract right through to completion. It is our job to make the entire process as smooth as possible and to ensure that the property you are buying is legally sound and lives up to your very high expectations.
At DRM Abogados we recognise the importance of undertaking a thorough due diligence process before buying and so we offer a comprehensive conveyancing service that goes above and beyond what most Solicitors in Spain would normally undertake. On this regard, we can assist you with the following:
Land Registry Search
We will conduct a land registry check to ensure that the property/land you are buying matches the registrations in the Spanish Land Registry. This will also confirm that the vendors are the legal owners of the property and provide us with information on any charges, such as a mortgage, registered against the property as well as any other debts or embargos.
Building Permissions
We will check that the property has been built in compliance with all planning and building regulations. As you may be aware, there have been many widely publicised horror stories in the press regarding properties built illegally in Spain. Carrying out these checks prior to your purchase will reduce the risk of any potential problems arising in the future. As part of this process, we will also ensure that the property has a valid First Occupation Licence or Habitation Licence.
Utilities
We will obtain up to date debt statements on the accounts of the different utility providers, the Local Authority and Community of Owners. In Spain some of these debts can be claimed against the property even if they accrued at a time prior to you becoming an owner, so it is important that all debts are settled prior to completion.
Property Survey
Whilst it is not mandatory in Spain to commission a private survey of the property you are buying, it is always advisable to do so. A surveyor or an architect can undertake a detailed inspection and report upon the physical condition and structural stability of the building you are buying. At DRM Abogados, we will obtain quotations on your behalf and arrange the visit to the property. If you are purchasing with the aid of a mortgage from a Spanish bank, the lender will commission a valuation of the property which is a different and more basic report prepared solely for the benefit of the bank.
Private Contract and Payment of a Deposit
Many overseas buyers often make the mistake of handing over a deposit at the outset, often directly to their estate agent or the Seller itself, and without having a Solicitor review the terms and conditions in which the money is being handed over. Our advice is always that the deposit payment is not released until we have undertaken thorough land registry checks. Once these are undertaken, we will draft a private purchase contract and agree the terms with the vendor’s solicitor directly.
Setting up Utilities
Upon completion, we can assist you set up all utility accounts in your name. The utility providers often will insist on setting up direct debits to your bank account and we can assist you in obtaining a bank account.
NIE Certificate
When purchasing a property, overseas buyers need to obtain an NIE certificate. A NIE Number is an identification number for foreigners in Spain. You will require an NIE if you intend to buy or sell property, enter into any contracts, such as mobile phone contract, open a bank account, start up a business or even to simply work in Spain. As part of our service, we will help you apply for the NIE certificates.
Energy Efficiency Certificate
As from 2013, all property sold in Spain are required by law to produce an Energy Efficiency Certificate. We will ensure that this document is in place as part of our conveyancing service.
Spanish Bank Account
When purchasing a property in Spain, you will need to make payment of various bills usually by direct debit. As part of our conveyancing package, we will assist you in opening a Spanish bank account with a bank of your choice.
Completion Statement
Prior to completion you will receive a Completion Statement which details all of the associated costs of purchase. The main disbursements to budget for are Land Registry Fees, Notary Fees and the Spanish Property Transfer Tax. Example costs based on a purchase of € 100,000 are approximately as follows:
- Notary Fees: €700.00
- Land Registry Fees: €500.00
- Property Transfer Tax which is calculated as a percentage of the purchase price and varies from region to region - Valencia 10%; Andalucia 8%; Cataluña 10%; Balearics 10%; Canary Islands 6.5%.
Mortgages
Many clients purchase their property with finance from a Spanish bank. Whilst obtaining finance has become more difficult in recent years, it is still possible to obtain finance of around 60% to 70% of the property value. There are additional costs to be considered when purchasing a property with a mortgage, as the lender will charge a set up fee and there are additional taxes due. If you are buying with a mortgage, we will liaise with your mortgage provider throughout the conveyancing process. We are also able to obtain mortgage quotations upon request.
Power of Attorney
Many clients are not able to attend in person on completion day either because they are not in Spain or due to other commitments. This is however not necessarily an issue. We can draft a Power of Attorney to enable us to sign and complete the purchase on your behalf.
Notary Signing
Completion is formalised before a Public Notary. This is usually at a Notary office close to where the property is located. We will attend the notary signing, either with you or with a Power of Attorney to act on your behalf. The notary will typically take around 2 hours of your time.
Title Deeds
Following the notary signing, we will ensure that all taxes are paid and that the Title Deeds are sent to the Spanish Land Registry for registration. You will receive the formal Title Deeds back from the Land Registry approximately within one month after completion.
We pride ourselves of our local expert knowledge and will provide you advice in a language you will understand. As part of our service we can:
- arrange valuations and/or surveys
- undertake a thorough due diligence on the property you are about to acquire
- draft and exchange contracts in English and Spanish to your specifications
- deal with all completion arrangements on your behalf
- advise you on the tax implications and assist you comply with all your tax obligations
- register your interest in the property
- arrange the transfer of utilities
- set up bank accounts
- obtain your NIE number(s)
- contract building and contents insurance on your behalf
- mortgage advice
- apply and obtain planning permission
- liaise with estate agents
We only charge simple, upfront fixed costs and you can get a full quote for the cost of our services by calling us today on (+34) 952 78 04 54 or by contacting us online for a free consultation without obligation. We will get back to you as quickly as possible.