Buying Your Ideal Property in Spain with Voss Homes

"Every Question is a Good Question"

We want to make purchasing your dream property as stress free as possible by “holding your hand” from beginning to end and even after you have moved in.  Take a look at our "What our Clients Say" page by clicking HERE.

 From the first time we meet, we will make sure you are aware of what our area has to offer and to have all the legal & financial information you require. 

We want you to be 100% happy with your new lifestyle and property so make sure you ask everything you want to ask so you receive the right answers. No matter how trivial you think the question may be.

 Here is a brief summary of some of the information you will need to know.

 The Costs.
The property price the estate agent gives you does not include legal and financial costs. You need to  add on roughly 10% to the property if it is a resale property price to give you an idea of the total cost. This will prevent any unexpected surprises later on. This changes to 12% if you are buying with a mortgage due to extra notary & bank costs.

This cost is made up of 8% for the government tax (10% if it a brand new unregistered properties) and 3% for legal & land registry costs including solicitor fees, NIE number applications, opening bank accounts, mortgage applications, changing over utility bills, debt checks against the property and notary fees etc.  

IMPORTANT: The townhalls have recently gave all properties a new rateable value. Therefore, if you buy a property that appears to be a real bargain the rateable value maybe higher than the price you are actually paying. 

This means you will have to pay 8% purchase tax based on the rateable value, not what you are actually buying it for. It worth getting your solicitor to check first to avoid bad surprises later. 

eg. If you buy a property at €100,000 you think you will pay €8,000 in purchase tax, but if the rateable value is €140,000 you will pay 8% on that which is €11,200. €3,200 more. 

Nie Numbers.

Your solicitor or conveyancer will apply for your NIE numbers once you have found your ideal property. It can be applied for in person and your legal person can collect it for you. Do not be rushed into getting this before you have found the ideal property. Your legal rep or agent can arrange for a bank account to be opened with you.

Currency Exchange.

Voss Homes recommends Currencies Direct who have an office in Mojacar and England

Payment Process & Completion Date.
Having found your ideal property one of the first steps is to instruct a local, recommended legal representative (Abogado, Gestoria or Asesoria) and to pay a reservation deposit of €3,000. 

You will be given a receipt (Reservation Contract) as proof.  The property is then taken off the market and the agreed purchase price is confirmed.  

The properties legal paperwork is sent to your legal represtative to carry out their checks. This usually takes 2 to 3 weeks. At this stage you may be required to pay a further 10% of the purchase price and then sign the purchase contract (Compra / Venta) which includes the property details, price and likely completion date.  

Once everyone is ready the completion date is set at the Notary. This is usually 1 to 3 months after paying the original €3,000 deposit. 

We will attend the Notary with you for the completion to make sure you understand the process  Normally the buyer(you), the seller and both parties legal representatives are present aswell. However, if you think you may be unable to attend then it is wise before hand to give your legal representative written permission (power of attorney) to sign for you.

At the completion, the remaining monies are paid and the property is then registered in your name and you are given the keys. Usually within a week or two your solicitor / conveyancer will arrange with you to pay the taxes etc.

 

CONGRATULATIONS!  

You will be given a draft copy of the deeds (escritura).  The original will following in 1-2 months once it has been updated.

Once you have been given the keys we will accompany you to the property to make sure you know where everything is and how it works. 

If your dream property requires renovation, a little TLC, swimming pool etc., then we can help with builder´s quotes, applying for permissions, mortgage applications, purchasing furniture / furniture removals, insurances, internet / telephone connection, sky television and general day to day queries.

Thereafter please feel free to contact us if you need help or advice.

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Contact Us

Office
(0034) 950 616 827

Sales
(0034) 678 002 006 & 667 891 741

Rentals
(0034) 659 077 998

Teléfono Español (0034) 685 448 460

 

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