When you wish to buy a house in Spain, these are the key things you should have done before the purchase of your dream home in Spain. This checklist will guide you through the process.
- Hire a lawyer: Engage a reputable lawyer specializing in Spanish property law. They will assist you throughout the process, ensuring all legal aspects are properly handled.
- Property Documentation: Have the property documentation checked, including deeds (escritura pública) and cadastral data (nota simple). Confirm that the seller legally owns the property and there are no liens or debts associated with the real estate.
- Property Description: Verify if the property description matches the actual conditions, including boundaries, dimensions, and the presence of attached constructions (such as a pool or garage).
- Planning and Building Permits: Ensure the property has the necessary building permits, especially for recent changes or constructions. Confirm it complies with zoning regulations and is not subject to fines or legal actions.
- Community Rules: If the property is part of a community, review the community rules, fees, and any ongoing disputes. Understand your rights and responsibilities as a property owner.
- Property Taxes and Debts: Have the tax status of the property checked, including transfer taxes (ITP), local taxes (IBI), and community fees. Check for any outstanding debts or unpaid utility bills that may become your responsibility upon purchase.
- Utilities and Services: Confirm that the accommodation has access to essential utilities such as water, electricity, gas, and sewage. Also, check the availability of internet and telephone services in the vicinity.
- Technical Inspection: Conduct or have a thorough technical inspection, including a structural examination, to identify potential issues or hidden defects that could affect the value or safety of the property.
- Mortgage and Financing: If you need financing, research different mortgage options and ensure you understand the terms, interest rates, and associated costs. Seek professional advice to determine the most suitable option for your situation.
- Contract Review: Have your lawyer draft the purchase contract (contrato de compraventa) to ensure your interests are optimally represented in the contract.
- NIE and Residency: Obtain a Spanish tax identification number (NIE) if you are not a resident. If you plan to become a resident, research the requirements and the process for obtaining residency in Spain.
- Notary: The purchase contract and property transfer must be executed before a Spanish notary (notario). The notary has a different role in Spain. They will register the transaction but will not conduct an investigation into the property; this is the lawyer's task and responsibility.
- Property Deed Registration: Register the property deed (escritura pública) with the local cadaster (Registro de la Propiedad) to ensure legal ownership and protect your rights as the property owner. Your lawyer can also handle this for you.
- Tax Declaration: Comply with Spanish tax rules by declaring the purchase of real estate and all applicable taxes to the relevant tax authorities. You can enlist a “gestor” if needed.
- Insurance: Consider taking out home insurance to protect yourself against potential risks, including damage, theft, or liability claims.
This checklist serves as a general guide, but it is crucial to consult a qualified legal professional who can provide personalized advice based on your specific circumstances and the region where the property is located. Laws are constantly changing and are specific to each of the Spanish autonomous regions.
We have also written an E-book that can provide you with additional information and is highly valued by our clients as very useful and informative. Download it here for free.
Immofy is happy to assist you in navigating this process seamlessly.
