Decided to buy Spanish property, but do not know where to start? Our guide takes you through all the steps of a home purchase.
Buying property in Spain:
The first stage. How to prepare and execute documents for the purchase of property in Spain:
When you pay cash, a passport needed, documents for opening a bank account. In the case of the purchase of real estate located in the restricted area, a certificate of good conduct is necessary. The transaction is made within 2 weeks.
To obtain a mortgage loan in advance, prepare a certificate of employment stating position, (PIT-2), a statement of account. For Russians in a Russian bank, a certificate NBCH (nbki.ru more information) from the Bureau of Credit Histories of a loan or if you have a mortgage, at availability of housing in Russia - certificate of ownership. If you are self-employed or in Russia you have your own business, you must provide income declaration. If you are a pensioner, you must provide a document of the pension fund, which indicates what year you retired and your annual pension.
Translation into Spanish done in Moscow at the Spanish Consulate or translate it to Spainish by an official interpreter. The transaction is required to have an alien identification number (NIE), which is similar to the Russian INN. You can get it at the Consulate of Spain in Moscow, or even in Spain. An NIE in Spain will help our real estate agency for transactions.
The second stage.
Arriving in Spain and a preliminary examination of the property and its choice: we select your property according to your preferences.
After you select the property you like, we begin to make the deal.
To reserve a property, a tentative agreement and a deposit of 5-10% of the selling price (3 000) is made. For a new housing, the contract is signed directly with the developer.
The third stage.
Preparing to buy: When a mortgage is required, an account is opened in a Spanish bank and application is made for a mortgage.
Getting NIE, if the buyer has not yet received it at the Consulate.
It Is determined on the date of signing the deed (Escritura Publica) at the notary.
The fourth stage. Signing the deed.
The signing of the contract between the parties takes place at the notary. Buyer pays bank check for the rest of the property amount, the seller gives the keys to the property, and the notary certifies the transaction. The copy of the Escritura Received and notarized. ''Escritura'' An official document by which the landlord may apply for multi-entry.
Then all the participants in the transaction pay taxes.
The fifth stage. Registration of the transaction.
The Notary sends the original Escritura in the property registery, where the registration of the new owner is made. After the registration procedure, that takes 1 - 6 months, the deed is awarded to the new owner.
After registration of the transaction at the notary, renewal of public services can then be done (contract for water, the light, garbage disposal, etc.) in the name of the new owner.
Expenditures for the purchase of real estate:
Tax and registration to private ownership, which includes: tax on the purchase of real estate in the amount of 10% of the project cost.
Execution of documents: The notary, the inclusion of real estate in the property registery, checking the property for any debt, property valuation, preparation of deed for signature, obtaining NIE, Nota Simple.