So, you've decided to up sticks and move to Spain!  That's a fabulous decision and Spain is a great place to live and enjoy life, as many expats will tell you. 

The first step is obviously to find your dream home in the sun, and this is where an estate agent can be of real help to you. 

Estate Agent::  Your agent will have an extensive knowledge of the areas, and also be au-fait with dealing with the local authorities and can generally make the whole operation a much smoother ride.  

We recommend starting your search on--line and looking out for recommended estate agents in your chosen area. Facebook groups are a great place to start and you'll be able to find various Facebook pages in the areas of your choice where expats will help you with any queries you may have in relation to finding a professional in the area.

The Estate Agency profession will be officially regulated from October this year, and all estate agents should be registered  with the regional government from then on, although you will find many that are already registered. It is so important to locate an agent that knows his business.

Once you have contacted your agent of preference they can assist you in finding the right property for you.  Just let them know what you are looking for and they'll source a property that meets your needs (if it's not alreaady on their books, of course).

And the day will arrive that you find the perfect property for ytou.  What are the following steps?  In the first place:

Placing an offer.  The price of the property is an indication, and it is customary to make an offer, but never too low that it may offend the seller.  If this offer is accepted, then the following steps will be to

Sign a sale contract.  This contract will hold personal details of both buyer and seller, a full description of the property that is being purchased, any specific clauses, such as the property being sold furnished or not for example.  The price is obviously included and a sell by date.  This is the date by when the sale should be completed before a Notary Public.  Normally, it is your agent that prepares this contract and it will be translated for you.

NIE numbers:  This is an ID number for non spanish residents and is essential for purchasing in Spain. 

Bank account: Your agent can recommend banks where you can open an account., and assist with this process.  

Currency transfer:  There are various currency transfer companies, ask for information for this much quicker and cheaper way to get your funds to Spain ready for the completion on your lovely new house.

Completion:  All property transactions are completed before a Notary Public.   He is there to make sure all the relevant paperwork is provided for the purchase to go ahead and he witnesses the signatures on the deed. 

What can I expect to pay apart from the price of purchase?  

Tax:  Depending on where you are purchasing additionally you'll be required to pay between 6% and 10% (new buidls are required to pay 10% VAT) of the price in transfer tax.  This must be paid within 30 days of purchase, after that interests will accrue on the initial amount. 

Notary Public Fees: The Notary Public will also charge for his time and the document of purchase (Escritura) he drafts and signs on the day of completion. 

Land Registry: The final step after payment of taxes is the registration of the deed in your the new owner's name, which is why the deed will be sent to the Land Registry for the purchase to be recorded in the new owner's name.  

Who takes care of filing the tax forms and presentinf the deed for registration at the Land Registry?

For a small additional fee, by far the easiest and quickest way is to pay the Notary's administration department to take care of the whole process. All you'll have to do is transfer all the taxes and fees to the Notary's office, and they take care of the rest.  Once it's ll done they will call or email either you or your agent, when the deed is ready for collection. 

Additional optional costs:

Will I need a laywer? Both the buyer and the seller may instruct lawyers to handle the procedure on their behalves, and if it makes you feel more at ease, then we recommend that you do so.  Your estate agent will, however, obtain all the necessary paperwork for the completion to go through, and will check that any debt there may be on the property is cleared, such as mortgage cancellations, etc. 

Surveyour:  Whilst it's not common practice to use surveyours in Spain, However, if you prefer for a survey to be carried out on the property, your estate agent will be able to recommend one to you.

Should you need further information on this or any other matter in relation to purchasing property in Spain, please do not hesitate to contact us on the following numbers.

Gareth on 00 34 605 15 19 40

Phil on 00 34 711 03 36 86

Anna on 00 34 615 82 85 68