THE PURCHASING PROCESS

Real Estate Agents

Your first contact when you decide to buy property in Spain will almost certainly be the estate agent. In many countries, an estate agent is a registered professional who can be held financially responsible if he intermediates in a sale and the terms later turn out to be falsely based.

In Spain, anyone at all may act as intermediary in property sales.

After a new law in the start of year 2008 ( Decreto 218 ), it obligate the real estate agents to hold documentation like Title Deed, Nota Simple in there office, if any client wish to confirm the real estate information’s.

Estate agents usually ask for between 5% and 10% of the purchase price as their commission.

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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