If you want to known how buy a property in Spain and if is safe that we will try to explains on this page.
We strongly recommend to inform yourself, and to avoid any problems in the future.
So is vital to carry out several of checks . As there are Public registries at the city Hall.
Lawyer to help to buy a property in Spain .
The next thing is that you choose an independent lawyer. In fact, choose a lawyer who has his specialty in Spanish land law ( urbanismo ).
Take a lawyer who is independent. That he works for you and not for the interest of the agent of the developer.
The Spanish system is different from the system at home, in Western Europe. So you should be sure that the layer is qualified and has experience in Spain.
He is there for you and will not ” corners” .
If your lawyer is based in Spain, ask for his registration number. And check his number at the association of Lawyers. In Spain = Colegio de Abogados.
Notary to help you to buy a property in Spain
If you buy a property in Spain a Spanish notary will be involved. So, he will prepare the contract of sale and issuing the public deeds.
Besides as a buyer , you have the right to choose your notary.
Indeed, the notary is a public servant and one of his duty is to inform you with free and legal advice. And this on all the aspects of the contract before you sign.
In addition it is a good idea to ask for his advice from the notary earlier.
So ask him any questions , you may have about the contract.
If you choose to work with some one in your home land make sure that they have experience in Spain. Besides ,check that they specialism in international Transactions.
Translators to help you to buy a property in Spain
The best is when you do not have a good understanding of Spanish, make sure that you get all contracts and documentation translate by an independent translator.
Mortgages to buy a property in Spain
In the same way, do your homework !
You should analyse a range of products offered by the different banks or companies.
Indeed, if you have any questions our doubts about the conditions and the terms as the lender to inform.
Then, check also if that the lender is listed as authorized to operate in Spain.
Like in your homeland, choose the mortgage which is the best for your needs and capabilities.
Pay attention to the interest rate and the repayment period.
Naturally,if you can not keep the mortgage repayment, the Spanish bank will repossess your lovely property.
In fact, if the value is less than the debt, the bank will pursue in Western Europe to recover the mortgage using the ” European Enforcement Order.
If you buy a property in Spain in certain area’s
If you consider to buy a coastal property for example at the Costa Blanca or the Costa Orihuela.
You should contact the office of the “Coastal Demarcation “. In this office in your region you get a certificate that the property is not affected by the Coastal Law.
Buy a property in Spain : Off plan ?
Indeed, buying off plan property is a risk. It is a higher risk than for example buying a existed resale property.
So once again do your homework.
Make sure you have a guarantee of the bank.
This guarantee will cover your stage payments.
In Spain developers of off plan properties are obliged to secure your deposits with a bank guarantee.
Also check the “land registry” if the future building is all ready registered.
This is the evidence that the building exist. Ans also that the work will be at the accordance with the design on the off plan.
The community of owners.
As the name said this community is the legal body which administers the affairs of your community.
This community cab inform you if you buy a house in resale if there are any outstanding debts. Such as telephone, electricity and water.
Renting your property.
Consequently, if you want to rent your house or apartment , you must ensure that you are doing correct, with the Spanish law.
So inform yourself because the regulations will depending on the region where “your house in the sun” is .
You must declare your rental income to the Spanish tax. It is complex, and perhaps it is better to ask advice of a professional accountant or tax adviser.