Purchase. Buying a house in SpainReal estate in Spain has been a huge boom in Europe, and with very good reason. Spain has always offered and wide range of reasons as to why it is so attractive to people around the world, the main reason being the countless days of sunshine all year round. Spain has much to offer, whether you prefer beaches, city centres, or rural country charm. Spain has updated and modernise its infrastructure giving a high living standard and making it perfect for holidays, living and for investment.
Buying a house in Spain can be a very exciting experience and if done correctly it is easy and enjoyable. This is not always the case, for a lot of people the process and transaction unfortunately went badly. This can be put down to misinformation, misunderstanding, unprofessional people, misleading vendors or estate agents, and most importantly not having consulted a trusted reliable independent lawyer firm with experience and success with the buying process. It is essential to know what to look for, how the process will take place, what surveys, registrations and documents are need and what taxes you are obliged to pay. The biggest problem tends to be when people sign pre-purchase agreements without consulting a solicitors and end up having to pay all their and the vendors taxes and fees and get caught having to pay the full purchase amount upon wanting to pull out. Other problems include defects in the property, incompletion or debt, whether off plan, new build or second hand. This is why it is advisable to have someone that represents you with your best interests in mind and you can rely on and that knows completely what they are doing.
Here at ABAD LAW FIRM we pride ourselves in being professional solicitors and accountants at all times, keeping up to date on rules, regulations and taxes enabling us to offer the most efficient and rewarding service possible for our clients, making their needs a priority at all times. The client can rest assure that everything will be dealt with and they can just sit back and enjoy the experience.
ABAD has extensive successful years of experience in dealing and processing various different purchases. The process for purchasing is similar regardless of the type of property.
- Advised consulting meeting with us upon choosing a property.
- Revising and checking property and documentation and any associated factors.
- Drawing up the pre-purchase agreement and signing.
- Applying for Spanish documentation –NIE.
- Power of attorney where necessary.
- Appointing a public notary.
- Bank accounts, deposits, taxes, and mortgages.
- Completion at Public Notary.
- Registering with tax offices.
- Change/activation of utilities.
ABAD can ensure that you do not lose when investing in Spain, but have a pleasant experience that you will be able to enjoy hopefully with your new dream home.
Buying Fincas, second hand flats/apartments/houses and multi-property purchases
The purchasing process is such as the one describe above in points. However the differences are in the property review. The checking of property registration and ownership are standard procedures and on top of this it is crucial to make sure the property is listed as described by vendor whether private or through an estate agent and to ensure it will be without any outstanding debt upon completion. Another point to be careful about is that you as the buyer don’t incur all the costs and expenses and that the seller also takes on their share.
In some cases, it may be a good idea to include additional survey to reassure the property. We would advisable all buyers to have an expert fully check the property, preferably a professional qualified independent architect that will review the property looking for any problems or defects. Any issues discovered can be negotiated towards lowering the purchase price of the property.
ABAD´s professional team includes an independent experienced architect as well as offering effective and efficiency form purchase transactions.
Buying a business Buying a business can include anything to hotel complexes, apartment blocks and a business transfer take over. Each situation will have its own terms and conditions to meet in order to complete. In terms of businesses you must make sure the property has or can be licenced for the particular activity you intend to conduct in the property. As well as checking for any pending debt or legal action against it, this may be hard to find if you are not told up front. There are also different taxes involved in this market due to its nature. The same can be said for buying and for rentals of businesses.