Buying a property in Spain
Do you dream of a property in Spain? At Serneholt Estate we have everything you need to make that dream a reality. Buying a property in Spain doesn’t have to be difficult or complicated, as long as you get the right information about the buying process. We have many years of experience selling properties, so as a client, you can feel confident and safe with us. We have produced a simple and helpful buying guide that you can read in peace and quiet. Naturally, If you have any thoughts or questions, we’re only a phone call or email away. A successful property purchase for you as a client is a job well done for us as estate agents.
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When we sell a property, we maximise the marketing of it to our clients and other estate agents. However, we know that there can be reasons for wanting a less public sale of your home. Thanks to our large client register, we are in a good position to match a property with the right buyer without anyone else having to know. We call it the Secret!
THE BUYING PROCESS IN THREE STEPS
The first step of the buying process is preparation in the form of, among other things, financing, choosing a legal representative and arranging a NIE number.
VIEWING & BIDDING
A successful viewing is about commitment and perceptiveness by the estate agent. This means that you will only see properties that we are sure meet your requirements. When you have found the right property, we will help you negotiate the price and terms with the seller, after which a reservation agreement is usually signed. In connection with this, a reservation fee (usually 6,000 Euros) is paid either to your legal representative’s client funds account or to our client funds account. The private purchase contract, which is drawn up by the legal representative after the legal checks have been made, is signed within 2-3 weeks. In connection with this, a down payment of 10% of the purchase price is usually paid, minus the reservation fee.
As a buyer, it is not necessary to be on location during the purchase. If it is not possible to be on location, we will help you with the necessary documentation so we can manage the whole process for you. The notary receives the payment and is responsible for paying taxes and fees, and distributing the final payment to the seller. The seller receives 97% of the purchase price. The remaining 3% is paid by you as the buyer to the Spanish Tax Agency. This is a form of security that the seller will meet his/her tax obligations and declare the capital gains of his/her sale in Spain. Once the seller has met all the regulatory requirements, this is refunded to him/her.