How to buy a house in Spain
Welcome at the tutorial: How tobuy a house in Spain from HomeFinders24. Buying a house is always a big decision. Especially if you buy one abroad. Like..Spain.
Nice to know: Spain has a lot ofbureaucracy and everything probably goes a bit different than you are used to.For example, you need the so called NIE number. This is a personalized numberwhich stays with you for the rest of your life. It can take up to three or fourmonths to obtain one. If you do not have it, you can not do much in Spain.
First, find your property.Obviously. You can search for properties on several portals like www.Idealista.com, www.Kyero.com, www.Fotocasa.es, www.habitaclia.com, www.pisos.com. Or go to online marketplaces like www.Milanuncios.com. Or contact HomeFinders24 ofcourse to search your ideal property.
If you are going to search andfind for your self we suggest you get your own broker, one you trust, becausethe realtor market in Spain can be the wild, wild West. Have this broker makethe first contact with the seller or its broker when you find yourdreamproperty.
Then make sure you get a good inreal estate specialised lawyer. Because a lot of properties in Spain are partlyor completely illegal. And in the old days you could get away with it, butsince Spain is getting more and more professional those times are over. And inthe worst case the government will tare down your property. A good lawyer looks into this and gives youadvice. And when he is wrong, you can sew him…with another lawyer of course.
This lawyer also makes thepurchase agreement in cooperation with your realtor, so that everything is bythe law and the way you agreed.
If you need a mortgage for thepurchase we suggest you get a good advisor. Of course HomeFinders24 can guideyou through this process. It is normal that you pay the fee to your advisor. Wewill make a different “How to…” on this subject in the near future.
In Spain the lawyer will contacta notary by your choice and sent all the needed documentation to this notary.The notary will make the deed and invite the parties for the hand over.
If you buy it with or without amortgage, the payment at the notaries is a bit different than in mostcountries. The day before the handover you go to the bank and get a couple ofbankcheques. If everything is right, your lawyer made an overview of how mucheverybody involved needs to have of the purchaseprice. With this overview yougo to the bank and they make personalized bankcheques. On the day of the handover you bring the cheques.
Also make sure that the propertyhas insurance on it, starting at the latest on the day of the hand over. Youcan find a proper insurance on the internet, or contact HomeFinders24 to guideyou through this process.
Now the big day, the hand overof the property. Your Spanish dream in the sun is going to happen today. Yourbroker will have made an appointment at the property and there will be aninspection, if everything is as agreed upon. Next everybody, including yourlawyer and estate agent, goes to the notary where the notary will read the deedand all parties will sign the deed. Than you get to feel a bit philanthropicalwhen handing over all the bankcheques.
Congratulations you own a pieceof Spain. While you focus on your new asset, your lawyer will make sure thatthe deeds will be entered in the catastro and that all the taxes are paid. Forthese payment you will have paid a little sum to your lawyer to cover thesecosts.
We thank you so much forwatching this video. If you have any questions please do not hesitate tocontact us without obligations. Because HomeFinders24 is there to help youthrough the total process. And do not forget to subscribe to our channel!