How to buy
a property in Spain
This is the main question one has to ask when about to embark on the
search for a property. Lets answer some frequently asked questions:
What type of properties will I find ?; Can I view the properties as
many times as I wish ?; Can I make an offer to the owner ?; Can I ask
for a survey before I buy the property ?; What is the difference between
a Notary and a Lawyer in Spain ?; will I need to open a bank account
in Spain ?; will I need any identification number to buy a property
because I am a foreigner ?. How does the whole purchase procedure work
in Spain ?. Lets see the answers to these questions. (»up)
What
type of properties will I find ?
The first step recommended is that you clarify the minimum requirements
that you would like your ideal property to comprise of, the location,
and features. At the beginning of the procedure you might find it a
bit difficult seeing as you may not be aware of the current prices and
locations. We recommend that you have a look at our website to learn
what’s what. You will be able to see the variety of properties
available; you will find town apartments ( 2 to 5 kms from the beach);
apartments on the beach (50 and 300 ms away from the beach), traditional
village houses (called in Spanish: “casas de pueblo”which
usually are located in the historic part of the town); modern town houses
and semidetached houses (called in Spanish: “adosados” and
“pareados” which usually are usually built on the outskirts
of the town); and detached houses (also called “villas”
or “chalets” usually located in residential estates not
far from the main town ).
If you would like more information, just email us to ask about the property
market and we will be only too glad to get back to you.
Once you have approximately an idea of what you would like, we will
be very pleased to help you obtain the desired property. We will then
show you all the properties that match your criteria. Sometimes “that”
type of property at “that” price range may only be found
further inland than our base of operation; then what we would do is
to start a search using our database shared with all our colleagues
in Valencia, Alicante and Castellón. (»up)
Can
I view the properties as many times as I wish ?
After we have informed you about the properties that match your criteria
and you have selected those you would like to view, we will make the
arrangements for you to view them as many times as you require. We fully
understand that only one visit is not enough to ensure a purchase and
that is why we will be only too happy to arrange visits as many times
as you feel is necessary. (»up)
Can
I make an offer to the owner ?
If you have found a suitable property and you want to go ahead with
the purchase, you make an offer and we will pass it on to the owner.
Once the owner and you have agreed to a price, the purchase procedure
starts. (»up)
Can
I ask for a survey before I buy the property ?
Before going ahead with the purchase, it would be quite normal for you
to want to know the general state of the property in question and therefore
would like to have a survey done by a surveyor written in English..
We will help you by suggesting some surveyors we know and the fees they
charge. (»up)
What
is the diference between a Notary and a Lawyer ?
Lawyers must not be confused with Notaries. Notaries and Lawyers are
different. The Notary function is to be an impartial witness to the
signing of all public documents before their inscription in the “Registro
de la Propiedad” (property registry). It is the responsibility
of the Notary to verify the current title; to make the new title deeds
of the property and read it out in front of both sellers and buyers
before giving good faith that all is in order. He also receives the
Transfer Tax (“I.T.P.A.J.D.”) on behalf of the Spanish Tax
Authorities. He is a Public Worker.
Private lawyers act on favour of their clients. They will check the
legal situation of the property.
Although it is not absolutely necessary to hire a lawyer in Spain, the
lawyer will always help you with all the paperwork required and will
make an independent report of the legal situation of the property. We
can also suggest some Spanish English speaking lawyers that work in
this area. (»up)
Will
I need to open a bank account ?
Another step to be followed is the opening of a bank account. You will
need it to transfer the money to Spain. We are here to advise you about
the Spanish banks whose staff can speak English, German, French or other
languages, also our job will be to advise on how to go about opening
a bank account, give information regarding mortgages and all the other
services the banks have on offer. (»up)
Will
I need any identification number to buy a property ?
As you already probably know: any European citizen who wishes to buy
a property in Spain must apply for the Foreigner Identity Number (“Numero
de Identificacion de Extranjero: NIE). This NIE is necessary to pay
the State the taxes derived from the purchase of any property. We will
also help you with all the paperwork to obtain this Foreigner Identity
Number that will be drawn up by the national Police (Policia Nacional). (»up)
How
is the whole Purchase Procedure ?
Once you have found a property that suits your requirements and you
wish to buy and you don’t want to risk having someone else buying
it before then the following steps must be taken. Firstly you will need
to sign the “Reserve Purchase Contract” (written in Spanish
and English) by both the vendor and the buyer. At this point the buyers
must give 1% of the sales price (in euros) to the sellers. This way
you will ensure that the property has been reserved for you only and
can´t be sold to anybody else.
The second step is to sign the “Purchase Contract” within
the following 10 days. The purchase contract states that 9% of the sale
price will be given to the sellers of the property on the signing of
this document. It is from this moment that the property is considered
to have been SOLD. Then, completion will be arranged for a date suitable
to both parties depending on the individual circumstances of the vendors
and buyers, which usually is between 1 and 2 months.
The buyers and the sellers must know that the Spanish Law states: “At
the time the Reserve Purchase Contract and the Purchase Contract are
signed the amount of money handed over by the buyers is considered “Arras”
as the Spanish “Código Civil” states in its article
number 1,454”; what this means is: “that in the case that
either party change their mind, the buyers will forfeit their deposit
and in the case of the sellers backing out, it is they who will have
to pay to the prospective buyers twice the amount of money which has
previously been paid to them”.On the day of completion, the sellers,
the buyers, the lawyer of the buyers (in the case that you have decided
to hire one), and us, will meet with the “Notario” in the
“Notaria” office.
The Notary is responsible for ensuring that the property has no outstanding
debts, which could be passed on to the buyer, and will request from
“El Registro de la Propiedad” (Property Registry) a certificated
document stating that this is the case.
The buyers must give the rest of the sale price to the sellers (the
price less 10% that has already been given); and the sellers must give
the keys and possession of the property to the buyers.
Once this is completed and everybody has shaken hands the purchase procedure
is “almost” finished, it is finalised once the nearest bar
has been found, in order to have a celebratory drink!!!.
You must know that in the entire purchase procedure we will be with
you helping you to answer all your questions translating for you and
providing constant help and advice. (»up)
What
else can we do for you…?
You have already bought your Mediterranean property but our work still
continues: We want to make sure that your transition into your new life
in Spain is made easier. Therefore we also provide a wide after sales
service, arranging for you, the transfer of the electricity, water,
telephone, the council rates, contracts into your name and set up standing
orders at your bank for their payments.
We can also recommend efficient local specialists in plumbing, electricity,
building, and reforming.
We will accompany you to go The Town Hall if you wish to be registered
as a Spanish Resident and we will also provide all the information you
need in order to be registered in our National Health Service if you
need it.
Come to our office as many times as you need to. (»up)
Where
is our office ?
Our office is located right in the centre of the town of Oliva in the
Province of Valencia. Our town is in between the towns of Denia and
Gandía. To be more exact, it is on the national road N-332 which
goes through Oliva. We are on the right-hand side if you are coming
from Valencia, and on the left-hand-side if you are coming from Alicante.
The shortest and quickest way to reach Oliva from Valencia Airport or
from Alicante Airport is to take the motorway (Autopista) A7 and turn
off at the exit nº 61 which will lead you on to the national road 332.
Then, Oliva is only 0.5km away from the exit 61. (»up)
Hotels
and places to stay ?
We show you some addresses of Hotels in Oliva and Gandia to stay at
reasonable prices. (»up)
OLIVA |
GANDIA TOWN |
GANDIA BEACH |
Pensión OLIVA
Contact - Tel: 00 34 653 606914
messages: 00 34 96 285 5304
Calle San Luis 35,
46780, Oliva, Valencia, Spain.
E-mail: info@hotelitooliva.com
www.hotelitooliva.com
HOTEL AZAHAR*
Tel: 00 34 96 283 8607.
Fax: 00 34 962838539
Calle Ausias March 16, 46780, Oliva, Valencia, Spain.
HOSTAL TROPICAL*
Tel: 00 34 96 285 0602.
Fax: 00 34 96 283 8539
Paseo Francisco. Brines, 9, 46780,
Oliva, Valencia, Spain.
Pensión CASA SAN VICENTE
(Guesthouse/B&B/Pensión)
Tel: 00 34 96 285 5900
Mob: 00 34 677 012 257.
Plaza de Ganguis 13, 46780,
Oliva, Valencia, Spain.
email: info@olivaguesthouse.com
www.olivaguesthouse.com
OLIVA NOVA GOLF
(BEACH HOTEL)****
Tel: 00 34 96 285 7600
Fax: 00 34 96 285 7601.
Urban. Oliva Nova Golf,
Apartado 31, 46780,
Oliva, Valencia, Spain.
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HOTEL LOS NARANJOS**
Tel: 00 34 96 287 3143
Fax: 00 34 96 287 3144.
Avda. del Grao 67, 46700 Gandia,
Valencia, Spain.
HOTEL BORGIA***
Tel: 00 34 96 287 8109
Fax: 00 34 96 287 8031.
Avda. Republica Argentina 5, Gandia, Valencia, Spain.
www.hghoteles.com
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HOTEL BAYREN I****
Tel: 00 34 96 284 0300
Fax: 00 34 96 284 0653.
Paseo Maritimo Neptuno, 62,
46730, Grau de Gandía, Valencia, Spain.
HOTEL ALBATROS***
Tel: 00 34 96 284 5600
Fax: 00 34 96 284 5000.
Clot de la Mota, 11
46730 Grau de Gandia
Valencia, Spain
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