THE PURCHASING PROCESS

Negotiating the purchase

Negotiations with the seller over the purchase of a property should not be limited to agreeing on a price. Many other issues are involved at this bargaining stage and all your requirements should be covered in detail. You may be willing to accept all the seller’s terms, but in other cases it might be necessary to prepare a counter offer. Remember that this offer can be made subject to the approval of your lawyer or the bank that is going to provide your mortgage.

Other issues that could form part of the negotiations are completion dates, methods of payment, fixtures, fittings and furniture or establishing who will pay the taxes involved in property transactions.

Your estate agent, who has probably acted very efficiently in helping you to find a property, may not be so skilled when it comes to this kind of negotiation. He may at this stage suggest bringing in a lawyer who can use his expertise to ensure that the offer is legally sound and that any agreement is in your best interest.

PREV.     NEXT

1. Finding a Property.
2. Real Estate Agents.
3. Choosing a Lawyer.
4. Negotiating the purchase.
5. The Reservation Contract and Deposit.
6. Exchange of Private Purchase Contracts.
7. Completion.
8. Registry.
9. Special Considerations when buying Off-Plan.
10. Fees when buying.
11. Taxes when buying.
12. Other Expenses.
13. Differences between the contract price & the amount actually paid.

Selling

1. Real Estate Agent & Lawyer.
2. Fees when selling.
3. Taxes when selling.

Charges Taxes & Expenses for Property

1. Service Charges in Communities.
2. Annual Real Estate Tax. ( IBI )
3. Rubbish Collection Tax.
4. Capital Assets Tax.
5. Property Owners’ Imputed Income Tax.
6. The Tax Returns.
7. Insurance.
8. Mortgages.

Other Legal Matters

1. NIE – Identification number.
2. Open Spanish Bank Account.
3. Making a will in Spain.
4. Inheritance Tax.
5. Investment Opportunities on Spain.

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