1. First phase: verifying the current state of the property
This phase consists of making sure the property that you wish to acquire truly belongs to who wishes to sell it and that it is neither seized nor mortgaged, before making any kind of payment to the seller or their agency. In order to help you make an informed decision, we make an assessment on the overall cost of your investment, including price, taxes, a withholding of 3%, lawyer fees and all expenses. This also includes the municipal added value tax to be paid by the seller and which we will withhold from the price should the seller be a non-resident within fiscal regulations;
In order to carry out this task, we will obtain a copy of the certificate of ownership or a payment of the last property tax from the seller or their agency. We will consult the Property Register and will inform you within 24 hours on the current state of the property.
2. Second phase: from sales agreement to change of ownership at the property register
We take care of the following:
- Preparing the sales agreement in English, as well as in Spanish, in order to ensure the following measures until an agreement is signed;
- Verifying the existence of possible debts (property tax, community expenses, water, electricity, gas);
- Assisting you at the signature of the sales agreement;
- Requesting and obtaining your Spanish non-resident identification number or NIE;
- Converting your non-resident identification number to a tax number at the fiscal administration;
- Fiscal domiciliation of the clients, should they reside abroad;
- Preparing the sales contract at the notary’s office;
- Requesting for funds at French or Belgian banks;
- Assisting you at the signature of the sales contract and making sure everything is translated correctly;
- Preparing and presenting tax models at the fiscal administration;
- Withholding 3% at the fiscal administration;
- Paying the land transfer fees, a 10% tax on the selling price;
- Registering the new ownership at the Property Register;
- Opening a Spanish non-resident bank account and setting up a direct debit for all property related expenses (water, electricity, property tax, waste tax, insurance, community expenses);
- Registering the new ownership at the Land Register, as well as at the resident’s association;
- Contracting services such as water, electricity, gas and insurance.
