What a foreigner must know to buy a property in Spain
To buy a property is not an easy task, but if you know the steps to take, and get the right advice from the suitable person, you could obtain a big advance in this section and definetly a safe option to not to be wrong at the moment of buying a property
The purchase of property abroad continues being a guideline at historical highs of property purchase by trimester of years before and has rised up to a 15% by international investors
Each person who has decided to invest in property in this territory must know all alternatives and prices to avoid risks and fraud, legal specifications in real estate in the country, and of course to count on good advicers.
It is absolutely essential to know which are the measures , ways and forms to realize an effective and satisfying purchase
Steps to consider……
1. Knowledge and investigatation.It is important to evaluate before paying anything what and why you are going to pay.That means to check out the place where you buy , which are the access, transport routes…..anyway , everything what leads to a good solution and purchasing doesn´t turn out into a nightmare.
2.It is overriding to be sure, who is the payment of the house, for this you have to go to the property registration to check out the regulatory and legal situation to avoid fraud or real estate swindle
3.To make a payment you must also know the merchandise and property registration which the company offers and that it counts on authorization of necessary rules, to check out that the project has all necessary and correct licences. For this reason lawyers must go along with the future buyer and avoid that there are clauses included,excluded or misused.
4. If it is a new house, you must pay the VAT, that means that other taxes of patrimonial transmissions have to be cancelled. In both cases it has to be supported by the tax over the documented legal acts.
5. Property registration. This action allows to certificate that you are the only owner and to show that you have all rights of the just acquiered property. It is equally important to seal and sign the purchase with a register,to show that the seller is the legal owner, which permits that all accounts and legal bases are clear and not to present any inconvenience in order to completely enjoy your new property just acquiered by a real estate Company ,the satisfaction of having done a good work and avoiding real estate swindle.
These steps show you clearly how important it is to have everything controlled following the steps and special rules to make a satisfactory and safe purchase.
For legal advice in the moment of property acquierment we can help you proccessing documents and papers, please contact us.