DOCUMENTS PREPARATION

Real estate is always a beneficial and long-term investment, especially real estate in Spain, one of the countries co-signatories of the Schengen agreement.

Buying the real estate in Spain gives you the right to get multiviza, which provides you with the opportunity to live and move freely from one Schengen country to another within 180 days a year (for 90 days in six months).

Our purpose is not only to help you with purchase of the real estate which corresponds to all your requirement, but also to ensure an easy conduct of a transaction, to specify some issues related to payments, taxes and legal requirements.

We assume the whole responsibility for the legal service transactions, obtaining a mortgage, obtaining identification number of foreigner, further maintenance of the property, putting in rent, as well as the settlement of other arising issues.

    Registration of the transaction is realized in the following steps:
  • Once you have selected the house you like, the amount of the reservation is paid, usually it makes 10-15 % of the value of the property and the agreement of reserve is signed specifying the terms and forms of payment.
  • If you would like to obtain a mortgage, you should pass through a registration process in bank. Usually Spanish banks give foreigners 60 - 70 % from an estimated project cost. The estimation is carried out by the independent estimated company. The mortgage is given out for 30 years, present rate of pay in Spanish banks is 4,75 % annually. Our company works with many Spanish banks, we can provide you with the most favorable conditions of crediting and further service.
      Documents necessary for obtaining a mortgage:
    1. Passport
    2. Reference from your working place, with information about your salary and the period of work, on the official letterhead and with stamps of the company.
    3. Income statement.
    4. The Letter of recommendation from bank and an extract from the account.
    5. And any other documents confirming your financial situation (for example, a certificate on the property that you already possess)
  • Foreigners, that is non-residents of Spain, must obtain N.I.E. (identification number of the foreigner),issued by the police, to purchase the property. Our company will provide you with this document.
  • The final step is signing a purchase deed at the notary. At this step, the remaining amount is paid, and you will become the final owner of property. Notary verifies purity of the deal and ensures that the property was sold free of debt. It should be noted that in the document can be introduced the names of all members of the family for obtaining annual Schengen multivisa.
  • After procedure of signing you need to register your property in the Register of the Property (Registro de la Propiedad). The original bill submitted to the corresponding Property Registry for the registration you as the owner. The registration process normally takes up to three months, after which you get registered original bill. In case of the mortgage the original goes to bank.
  • All charges and taxes associated with the processing of sales of the property are paid by the buyer, they constitute approximately 10% of the cost. It is necessary to take into consideration that taxes are paid from the cost specified in the bill, it is usually lower than a market price. Municipal taxes are paid out by the seller. The buyer pays following taxes: IVA (VAT) of 7 %, entry of an object in a land-survey of 1 %, notarial services of 1 %, in case of mortgage 1-1,5 % is paid to bank for opening of the mortgage. 1 month is given for payment of taxes after signing the bill at the notary.