You must follow a number of advices and steps
before you are given the keys of your house in Spain, steps as much in the
search as in the management and the purchase. Though, in addition, you will
later have to add the recruitment of the supply (water, electricity, gas or
telephone), and the payment of some taxes to obtain the residues disposal or
the permission on the passing of vehicles if it is a single-family home.
You will also have to think about the way of
payment, if it is going to be in cash, or by means of mortgage loan.
First steps
(investinspain.org)
Search of housing
The most usual thing is to look for a house in coastal areas in Spain, being the most demanded the east and south coasts, possibly because of the climate. It is in these zones where the climate and the temperature are practically constant throughout the year. It should be pointed out that inside these areas some zones are more expensive than others.
The most important estate agency, in my opinion are:
It is important to find out if the websites
that we visit are really professional and trustful. In Spain, due to the great amount
of an operation that have been made in the previous years, exists a great
professionalism, but that can be tarnished because of the current desire of
selling.
From my point of view, the most ineteresantes web are:
fotocasa.es, idealista.com, pisos.com, urbaniza.com, portae, tucasa.com, inmonet, globaliza.com, facilisimo.com y yaencontre.com.
In this link, you'll find all the real estate deals from banks:http://www.hablandodebolsa.com/2009/05/inmobiliarias-de-bancos-y-cajas-comprar-inmuebles-a-los-bancos.html., http://todoproductosfinancieros.com/portales-inmobiliarios-los-lugares-de-las-subastas-inmobiliarias/.
Off-plan property or under construction
If
the housing that you like is off-plan, it does not mean that it is not finished
because it is under construction, but because it has not still been started to
build, or it does not even have the license of construction yet. All that is
very important, especially in the current circumstances, in which credit practically
does not exist for the promoter or for the final consumer.
If it is under construction they will have to
show you his corresponding Building
permission (still in force), and inform you about the deadline for
completion and handing for the subsequent signing in the notary’s office. You
should even be informed about which Construction Company is executing it.
In the event that only plans of his future
house exist, the situation gets complicated. In this case it would be important
to have a planning permission, to be informed about the dates of beginning and
end of the job, and also to be informed about the bank that it is going to
finance the construction, that being the case. It is important to know that the
planning permissions have an obligatory deadline that has to be fulfilled, besides
the postponement with a justification.
All that will be very important to guarantee
the deposit that you leave as reservation for the future purchase and to avoid later
return problems because of a non-accomplishment of the works, etc...
The right way then, is signing a reservation contract, and the payment
of a sum in the signing moment. There will be also included in the contract the
way of payment of the approximately 20 % of the property value up to the
delivery date. Lawfully, all the money contributions must be guaranteed by a
bank (Legislative Royal Decree 1/2007,
of November 16, by which it is approved the text of the General Law for the
Defense of the Consumers and Users and other complementary laws).
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New-build finished housing
Working on the assumption that the housing is
finished and is a new construction, and in light of the possibility of signing
the deeds immediately, it will be important to be shown – at least – the building permission, the document certifying a brand new building,
the First Occupancy License and installers’ bulletins to contract all
the supplies.
It
is indispensable to make a visit and to observe in great detail all the
possible incidents or mistakes you could see, and to take them down on a
document that you will have to sign together with the seller, who will have to
give you a due date for its corrections.
It is extremely important, that before the
purchase-though it is later attached to the deeds- you ask for a certificate in the Land Registry to
confirm the owners’ identity and the existence of burdens on the same.
Housing of the second hand
If the housing of is of the second hand, will stay to his coast everything what does not negotiate, existing a term of six months to claim the secret vices.
You will be able to give a down payment deposit to reserve the above mentioned house up to signature of the deeds. The sign is in the habit of being 10-20 % of the total price depending on the quantity. It is important to know that in these contracts of security, if the possible buyer does not finish the operation it will lose the anticipated quantity. Nevertheless if the seller desists from the sale, it will have to return the double of the deposited quantity.
The owner
Before singing,
you must also request a simple note
from Property Registry (registropropiedad,registradores). Registration verification of loads which may affect the
property is collected in the Decree of 29 December 1994 on coordination of
notaries and registers on safety in real estate traffic.
You should also see the Title Deed of the owner, learn of the existence of mortgage on the
property (certificate of balance pending amortization and last satisfied
receipt), ask the last receipt of the Annual
real estate tax (IBI), the Property Certificate
with identification plans of plots or buildings, identifying the property
reference, the date of registration in the land registry, date of the last
revision of the property value with breakdown of land and construction, and in
houses of second hand, the last paid receipt of the community of owners and the
supplies of water, electricity, etc...
However what we discussed in the previous
paragraph, to be certain of who sells really have sufficient capacity to carry
out the transmission, you must identify the holder and its legal
characteristics, depending on physical or legal person.
Serve as observation, which corresponds to the
notary and only to him, under his responsibility, at the time of the signing of
the deed, the trial of the surrendering person's ability. Even the Logger
Property - after - can enter to qualify the ability trial issued by the notary authorizing.
If the seller is a physics person, the work of
the Notary (notariado.org) be the identify him properly, as it has the Notarial
regulation, and prosecute their capacity.
If the physical person selling acts by
representation, must be sufficiently justify the representative person's faculties
grantor.
Depending on the circumstances, it must
accredit the documentation confirming:
-If a person married in marital property
regime, will be the two spouses who must grant the sale; in any case if it is a
transmission must be brought the two (1323 article of the Civil Code).
-in the case of resident or non-resident, the
use of powers granted by a foreign Notary with Apostille of the Haya is
particularly important.
-check the capacity (of majority age, etc.)
-If a society is, analysis of the situation of
the company saleswoman (bankruptcy or suspension of payments).
Later
Once centered
our aim, and ready to buy the chosen housing, we must request the Residency Permit (interior.gob.es). This very day it has
gone forward on the part of the State Department, the possible entry into force
of a norm that it facilitates immediate and automatically said alone residency
permit with the purchase of housing for a major value of 160.000.-Euros.
News published in the diary ELMUNDO:
The secretary of Exteriors, Jose Manuel
García-Margallo, has made clear that the residence permit are hastening for the
foreigners who acquire real-estate properties in Spain, housings which target
one " was frankly doubtful without a foreign demand ". In his
intervention in the plenary session of the Congress to present the restrictive
budget of his department for 2013, García-Margallo has framed this politics in
an action plan in which they collaborate narrowly Exteriors and the Department
of Industry, Energy and Tourism with the aim to attract more tourists.
This plan, it has appeared, forces to his Department
to improve the politics of income to the country, to improve the steps for the
citizens who need authorization to enter Spain and “to simplify the
requirements of entry " when it is not required authorization.
It has included also between these measures the need
to accelerate the residence permit of those who come to Spain to " to
acquire properties real estate which destination was frankly doubtful without a
foreign demand ", has added the secretary.
SEPTEMBER 2013
LAW OF ENTREPRENEURS
The art. 63 Entrepreneurs Act which came into force last Sunday establishes requirements for Spanish residency grant foreign investors. As announced in November 2012 the Secretary of State for Trade, Jaime Garcia Legaz, Spanish residence will be granted to anyone who purchases a property in Spain, but eventually rises announced 160 thousand to 500 thousand euros worth of property purchased.
In addition, Spanish residence will be awarded to those who invest at least two billion euros in government bonds. Residence also receive those who make bank deposits of over one million euros in Spanish banks or to invest the same amount in Spanish companies.
According to a note from the office Navas & Cusi, specializing in banking and financial law, the Law on Entrepreneurs also includes Spanish grant residency to those foreign entrepreneurs who settle in Spain a business project that creates jobs, economic impact has or establishes special scientific or technological interest.
What's new is that the new regulation does not require foreigners to reside more than six months in Spain but only have traveled at least once to Spain in the period authorized to reside.
Applicants must also meet the general requirements: no criminal record in the past five years, have a public or private health insurance and sufficient resources to live them and their families during the period of residence.
SEPTEMBER 2013
LAW OF ENTREPRENEURS
The art. 63 Entrepreneurs Act which came into force last Sunday establishes requirements for Spanish residency grant foreign investors. As announced in November 2012 the Secretary of State for Trade, Jaime Garcia Legaz, Spanish residence will be granted to anyone who purchases a property in Spain, but eventually rises announced 160 thousand to 500 thousand euros worth of property purchased.
In addition, Spanish residence will be awarded to those who invest at least two billion euros in government bonds. Residence also receive those who make bank deposits of over one million euros in Spanish banks or to invest the same amount in Spanish companies.
According to a note from the office Navas & Cusi, specializing in banking and financial law, the Law on Entrepreneurs also includes Spanish grant residency to those foreign entrepreneurs who settle in Spain a business project that creates jobs, economic impact has or establishes special scientific or technological interest.
What's new is that the new regulation does not require foreigners to reside more than six months in Spain but only have traveled at least once to Spain in the period authorized to reside.
Applicants must also meet the general requirements: no criminal record in the past five years, have a public or private health insurance and sufficient resources to live them and their families during the period of residence.
