As a member of the European Union, Spain has a secure real estate and land register law. The purchase of real estate is legally secure and does not involve any risk with the involvement of qualified consultants. Buyers from member states of the European Union (EU) are also not subject to any restrictions when purchasing real estate in Spain.
All bureaucratic tasks such as land register entry, payment of property tax, transfer of water, electricity and telephone, etc., are handled competently by us and the commissioned notaries, tax advisors, etc. We organize these important formalities and prepare the date for the notarial transcription. We also assist with the translation of official documents. This makes our dealings with the authorities efficient and time-saving for both parties.
Notaries as well as tax consultants and your lawyer are involved in all phases of the transaction. This makes the transaction transparent and risk-free. The risk of a back tax payment through undervaluation in the purchase contract is excluded.
- Verification of 100% freedom from encumbrances of the real estate and possibly existing pre-emptive rights of tenants, authorities, neighbours or co-owners.
- Possible mortgage charges are cancelled at the same time (contemporaneous performance) and do not remain as a charge on your property.
- Taxes to be borne by the seller, such as the capital gains tax (Spanish: Plusvalía), are taken into account in the sales contract.
- A tax representative in Spain for receiving official notifications is mentioned, although it is obligatory for non-residents in Spain, both for the buyer and for the seller. It can have serious consequences. If the tax authorities cannot deliver notices, they become legally binding and enforceable through publication and can be detrimental to the buyer.
Once you have made the final decision to buy a property, it is common in Spain to first conclude a private contract (option contract, Opción de Compra, Arras contract or private purchase), in which the details of the purchase are recorded. The contract version you will ultimately apply should be decided in cooperation with the lawyer instructed by you. The contents of the purchase contract include, among other things, the precise legal description of the object, the determination of the final purchase price, the terms of payment, the determination of the date of performance of the contract and the date of delivery of the object of sale.