However, regulation is relatively low and unscrupulous estate agents do exist, so be wary of anyone who asks for payments upfront or suggests cutting corners. Always remember that you can choose your own notary, mortgage provider and so forth — you do not need to use a service suggested by the estate agent.
On occasion, the large numbers of inexperienced foreign buyers have provided an opportunity for unscrupulous developers and estate agents to sell properties that are not legitimate.
In some cases, planning permission has not been acquired before building, and properties are eventually torn down by the local government. In others, the quality of the property has not been up to scratch or as indicated, resulting in costly repairs. The British Foreign Office has issued notices warning expat buyers to be cautious and not take unnecessary risks.
They recommend, at minimum checking:. Most of this information can be provided by the land registry and accessed by making a request by email, phone, fax or in person. You can find the appropriate land registry office by vising the national website: www. While malicious intent is rare, caution is advisable when buying a property which does not yet exist. At minimum you should:. As a non-resident, you may also buy land and have a property built yourself.
In this case, good legal advice is even more important as you will need to ensure that contracts with builders are appropriate and watertight. In Spain, any mortgage or debt tied to a property is transferred to the new owner when the property is sold. Debts may include:. The process of buying a property in Spain usually runs as follows. The buyer then arranges any mortgage they require, although they should have already discussed their needs with the mortgage provider.
The contract of sale escritura de compravento is usually signed in front of a notary, at which point the full sale price, taxes and other costs become due. The services of a notary are not legally necessary to complete the sale. But it is advisable and required by many mortgages.
The seller is responsible for hidden defects in the property, even if they are not aware of them. However, in practice gaining restitution for such defects can be difficult and costly. Paying the costs and taxes associated with buying a home can be completed by the buyer or their agent. The buyer is also responsible for registering the property. Following the crash, Spanish banks were reformed with significant IMF involvement.
This reduced the number of lenders in operation, and significantly increased the regulation and oversight of the industry. As a result, many banks began to lend less and mortgage rates and terms became less favourable. Mortgage lenders will not complete on a mortgage agreement until you own a property. The buyer usually pays the fees. They vary from region to region. Many are negotiable — there are no fixed fees for lawyers or estate agents. Costs paid by the buyer include:.
This is typically their only cost. Step-by-step guide. Real Estate Market. Cost of living. Cost of housing. How to find property. How to find real estate agency. Taxes for property owners. Financing home. How to avoid fraud and deception. Taxes for expats in Spain. Ideal for investing. Price alert.
Flat in Cuatro Caminos. Semi-Detached 2 floors m 2 Plot: m 2 4 bedrooms 2 bathrooms Parking places. It consists of a plot of m2, and the house has m2, distributed over 2 floors, with a large beautiful garden in the front of the house as in the back, very green and flowery, covered garage for a vehicle in the back and corridor area to park at least 4 more cars inside the plot, laundry area and facilities room in the back garden pantry, central heating.
The main floor has a large entrance hall, a large living room with windows to the garden, kitchen with access to the back garden, office-living room, and a toilet. On the upper floor, 4 large double bedrooms are distributed, 2 of them being more spacious, and a bathroom with shower. The heating is oil central and has air conditioning in all bedrooms. The orientation of the house is. Building in Bellas Vistas. Great office building for sale with the possibility of making it homes 2 floors of homes, ground floor storage room and storage room and upper floor duplex penthouses or also to make coworking type.
The house has 3 bedrooms two of them exterior, outdoor living room, 1 bathroom and 1 toilet, fitted kitchen. The farm has two elevators and a physical porter.
Heating and individual gas hot water. Double windows the aluminum exterior and wooden interior thus retaining the emblematic aesthetic of the area.
Chalet in El Viso. Detached 4 floors m 2 Plot: m 2 8 bedrooms 6 bathrooms Gardens. Exceptional detached villa in unbeatable location in the Viso, a few meters from the Santiago Bernabeu. The house has m2 on a plot of m2 distributed in several rooms, with a total of 8 bedrooms, 6 bathrooms and 1 toilet.
On the semi-basement floor has an apartment for the service, distributed in double room with bathroom, living room, bathroom, laundry area and terrace. In the basement has a large area to locate a great gym. On the ground floor has a living room, kitchen, toilet and office with private bathroom. On the first floor it has 3 large bedrooms and a bathroom.
On the second floor has two large 2 suites with en-suite bathroom. The house is completely renovated and only needs to update the facade and the garden.