Buying a house in Spain normally is a simple task if you know the steps to follow. Plenty of properties are bought and sold in Spain every day without any problems, however you should learn how to do it before starting the purchaising process.
Below is a step by step guide of how to make the purchasing process with a real estate The Grand Selection.
On our website salemarbella.com there is a wide range of luxury homes for sale. You can search for properties in the favorite area. If you have questions regarding the area you are most interested in Marbella or what type of property is the best for you, please contact our agents and they will provide you all the information you need about Marbella and surrounding areas.
Do not worry if you can not find the appropriate property for you on our website, because we have a large database with plenty of properties for sale. Contact us and tell about your preferences and we will help to find the best property for you.
Once it is decided which property you would like to purchase, our real estate agents will organize a private tour to visit them. A luxury car will pick you up and take you to the selected properties. If you want to spend several days visiting properties, our representative will provide an accommodation in any of the 5 star hotels in Marbella we work with (the price for the hotel the stay will be deducted from the final price of the property).
When you know for sure which property you would like to purchase, the reservation deposit needs to be made. It will guarantee that the property will be saved for you and it can not be sold to another interested party. The deposit can vary between 5000 € and 15000 €, depending on the price of the property. The deposit is advisable to pay a lawyer or real estate agent, never the owner; this facilitates the money return process if the deal is finally canceled.
Upon delivery of the reservation deposit a contract is signed, which includes all the details of the sales price of the property, the names and supporting documents of both the buyer and the seller. If there are any special purchasing conditions it must also be indicated in the reservation contract.
In Spain it is essential to hire a lawyer for a sales process. The attorney retained must perform several checks in the Land Registry. This process guarantees that all the property documents are correct, it does not hide any lien or debt and that the selling person is really the homeowner.
After the above process is done, the final sale contract between the buyer and the seller is signed. At this point it is necessary that the buyer pays 10% of the propriety price (less than the deposit paid earlier). This contract is another indication of the agreed sale price and date for the final transfer to the ownership of the property.
Once it is signed, if the buyer decides to cancel the purchase, the deposit would not be returned, if the seller wants to cancel the purchase, the double of deposit must be paid to the buyer, unless some other agreement is reached.
Payment of the total amount for the property must be made on the date specified in the purchase agreement. When it is done, the documents are signed by a notary and a lawyer change the proprietor´s name at the office of a Land Registry. The property is purchased.
If you are not a resident of Spain, you need to obtain a Certificate of Non-Residence, indicating a tax number, which is also required when paying the tax. This document is also known as NIE number. To get an NIE number it is necessary to request it in a police station, Spanish consulates or Spanish embassies.
If you purchase a property for investments, The Grand Selection will be glad to help you with it. Our website www.thegrandselection.com offers luxury properties for holiday or short term rental. We will inform you about the availability, prices and what conditions may be more profitable. We can also offer you the long term rental or the property for sale.