What do I have to do to be able to buy a house in Spain?
See our legal guide
What are the advantages of living in the village? In the country?
Depending on what you most wish for. The countryside offers peace and tranquillity although , of course, you have to drive to the shops .
The villages can be a little noisier depending which one you choose but there are always shop, banks and restarurants within easy walking distance and as you will be speaking on a regular basis with the local people you may find that your Spanish improves rapidly.
What is the advantage of living in the country or in the village for children?
If you have children of school age, maybe you are considering a property near to the village. Through our experience we know that children tend to learn faster if they are integrated into the community. They will make friends quickly and will learn Spanish better if they live in the village.
Can I/we get a mortgage in Spain?
If you decide to apply for a mortgage in Spain we can help you to find the most convenient one by putting you in touch with the local banks. The bank will send a valuer to the property. The bank will lend a percentage of the total of the valuation of the property, normally around 70%, although this can vary depending on the bank. The bank will ask for the following documents for the process: A copy of your passport, a copy of you NIE number, your permanent address, marital status, your wage slips and the properties that you have in your own country.
If I have to go back to my own country, how can I be sure that everything will go to plan?
Your lawyer and ourselves will supervise the buying process and update you on a regular basis. Your lawyer will ensure that all paperwork on the property is in order and arrange the sales contract. We , for our part, will keep in touch with the sellers of the property and ensure that are fully cognizant of what they have to do to complete the sale. We are only a phone call or an email away and you can ring us at anytime. For us communication is very important and you can be sure that you will always know what is happening.
What happens if I can’t go to the Notary for the signing of the title deeds?
It is possible to give power of attorney to your lawyer so that they can sign in your name.
Is it possible to buy a property from abroad?
Yes of course, if you have to go home and think a little about the properties you have viewed and then decide to make an offer on a property that you have viewed you simply telephone or email to tell us what offer you wish to put forward and we can negotiate with the vendor on your behalf. Once an offer has been accepted and you have paid the 3000 € deposit to take the property off the market, we will contact your lawyer and we will let them have all of the documentation to start the process.
What happens if we change our minds about the chosen property?
Once you have signed the documentation for the property and have paid the deposit, this is considered an official intent to buy the property. This deposit is not refundable, unless, it specifies in the contract and for a justifiable reason that doesn’t permit the operation to go through. It is extremely important that you are absolutely sure about the property you would like to buy and that you are not under pressure when signing the deposit documentation. This deposit will be refundable if when your solicitor revises the documentation they found that it is not possible to sign the title deeds of this property.
How long will it take from signing the contract until everything is finished?
It depends on yourselves and the seller, as well as the necessary documentation and your lawyer but between 3 weeks and 3 months.
When will I/we receive the keys to the property?
You will receive the keys when the title deeds are signed before the Notary and the payment is completed, this is when the property will become yours.
When do I/we need to insure the house?
The house insurance starts to be your responsibility from the moment you finish at the Notary’s office. Most Spanish insurance companies offer policies which show the building and the contents separately. To obtain a quotation you will need the following documentation:
- Full name and NIE number.
- Date of birth.
- Full address of the property.
- Build size.
- Contents value.
If you don’t live in Spain permanently, the insurance company may also need:
- Number of doors and windows that the property has and if they have window grills and/or security glass.
At Cómpeta Properties S.L. we offer house insurance, so that you don’t have to worry about anything. We can let you have a quotation, quickly and under no obligation.
Do I/we need to make a will in Spain ?
You should have a Spanish will covering your assets in Spain.
When and how can I/we make a will?
This is something that your lawyer will do when you are buying and it is normal to sign this before the Notary on the same day as the signing of the title deeds.
Lawyer or Gestor
This is your choice although a lawyer is specialized in buying and selling. The Gestor is similar to an accountant and carries out activities in relation to payment of taxes etc they also do a lot of house conveyancing.
What do I need to be able to sell my property?
The documentation that you need to supply is the following:
- Copia simple of the title deeds.
- Copy of the Nota simple.
- Copy of the last IBI bill (that should correspond to the current period).
- Copies of latest utility bills (water, electricity, telephone…).
- Copies of the owners NIE numbers.
Together with this documentation, we will fill in a “permission to sell” form, that the owners need to sign to confirm that they are willing to put their property on the market with us, as well as the conditions agreed between the sellers and us, as the estate agency.