The procedure for registering the purchase of real estate in Spain

The procedure for purchasing and registering real estate is safe and transparent. For these purposes, we want to leave information about the general aspects of the transaction.

Registration of real estate in Spain: sequence of actions

1. Check the property through Nota Simple to obtain information about the property including address, area, and other details.
2. Check in the real estate register to confirm data before registration.
3. Obtaining a foreigner's identification number in Spain (ΝΙΕ).
4. Opening an account in a Spanish bank to pay for the transaction, going through the bank's compliance for questions.
5. Stages of completing a real estate purchase and sale transaction in Spain: Signing a preliminary agreement and making a deposit.
6. Solving financing issues, including the possible use of a mortgage loan.
7. Signing the final Escitura Publica agreement with a Spanish notary.

Additional costs when registering real estate in Spain

• When purchasing real estate in Spain you will need to pay taxes and fees:
• Transfer of ownership tax up to 10% for secondary housing or value added tax (IVA) for new buildings.
• VAT up to 21% when purchasing commercial real estate, can be optimized to 2.5% stamp duty.
• Stamp duty is about 1%.
• Broker commission 3-5%.
• Notary and registration fees also apply.

Features of purchasing with a mortgage

Real estate can be purchased with a mortgage, but it is necessary to prove the ability to make regular payments. Banks may doubt the stability of clients' income due to economic factors. The mortgage term is usually from 5 to 30 years, and early repayment requires additional interest.

Purchase of commercial real estate for a legal entity

Purchasing commercial real estate as a legal entity allows you to optimize taxes, including VAT exemption, if the property is used for business, including if the owner rents it out.

Help from professionals

Purchasing real estate in another country is a serious step that requires careful consideration of all aspects of the process. Consulting with experts will help you avoid unpleasant surprises and make your purchase more secure.

Do not hesitate to seek help from professionals who are always ready to share their experience and competence and apply them in your request. Remember that a properly organized purchase of real estate in Spain will guarantee your peace of mind and confidence in the future.