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Now is a good time for buying a property in Spain as a holiday home or just as an investment, as European interest rates are low and there is a wide selection of property options available as repossesions properties, apartments, villas or coastal and inland houses.
Buying a property in Spain is an exciting experience made easy with the right advise and experience. However, you must go looking for your home with an open mind. You'll soon realise that it is virtually impossible to find exactly what you want, so you may need to compromise on some issues. Using our professional service will protect your interests, making the purchase of your home in Spain a risk free and stress free experience.
Note: this will give you some idea of the processes involved – it is intended as a general guide only. At Inmoinvestments we will guide you through your own property purchase with our customary care and attention to detail.
- Getting your NIE Number
For any fiscal activities as buying a property or a vehicle you will need your Tax Identification Number. This application can be done by us and it normaly takes about 1 to 2 weeks to obtain your NIE Number depending on the foreigners officce. - Open a bank account
You will need a spanish bank account to transfer the founds once you have found your property. This is normally a simple process but we are happy to assist you if required.
- Settle on a region - Mostly of our properties are located on the Costa Blanca. Consider the location first and foremost. Decide on a particular town, village, development or urbanisation where you'll want to spend a lot of your time, or even live permanently. Research the area to find out what it is like in different seasons, what facilitates are available and the travel times to different places.
- What type of property you are looking for - The area, size, number of rooms. But keep an open mind. It could be worth looking at different types of properties in different residential areas. By looking at a variety of homes you'll build up your knowledge of the present market values in the area you are looking.
- Research about all legal issues and costs involved. We will inform you about all legal process and costs involved in your property purchase. Furthermore we will get you in touch with our solicitor if required.
- Organise your administration - There are administrational factors that need to be considered prior to your house purchase.
- Making an offer - Make your offer in writing if possible (of course, subject to contract), and include not only the price, but also the amount of deposit, when you are prepared to pay it, when you are prepared to complete, what you consider to be included in the price.
- When an offer is accepted - A private contract will be signed and a deposit will be paid on the property, to take it off the market. Afterwards the deeds (Escritura de Compraventa) will be prepared for signature with all parties in front of a Spanish Notary. When the balance of the purchase price is paid and vacant possession of the unencumbered property is granted, the sale is completed.
- Immediately after completion - The notary will fax details of the title deed to the local land register to inform them of the identity of the new owner. This will prevent the property from being sold twice. The notary and the land register act together to protect and guarantee your interests. Afterards we will arrange for the transfer to your name of utilities and services such as water and electricity and organise their payment through a local bank.
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