The contract is a very important document. We advice that you speak with us before you sign. If you fail in any of the payments you would be in breach of the contract and could forfiet the money you have paid.

This depends on the contract but a typical contract will be as follows:-

For New Builds For Resales

€3000 on signing the contract €3000 on signing the contract

30-40% after 30 days 10% after 30 days

Balance on Completion Balance on Completion

The tax, land registry and the notary on completion. Our services are also free until completion.

It is possible to raise finance to assist with the purchase of a property. This can be done in the UK if you have an existing mortgage or in Spain. Having a mortgage arranged in Spain can lead to benefitting from tax consessions.   We have established excellent links with most Spanish Banks. Ask for further information.

Please allow approximately 3% of the amount borrowed

All you need to open an account in Spain is your passport. There is no need to deposit any money to open the account

It is possible to transfer monies directly from your European Bank to your Spanish Account. We have excellent contacts with renowned foreign currency companies who may offer more favourable rates of exchange and quicker transfer times. Remember, it can upto 10 days to transfer funds from the UK to your Spanish account.

If you are buying a new property there will be a 10 year builders guarantee and certificate from the architect. If you are buying a resale property a survey is not carried out to check the condition of the property, however, this can be arranged if you require.

Bank guarantees or insurance policies should be arranged when paying monies for a property under construction. There are statutory provisions for the builders to guarantee the payments for the property whilst building is in progress up until it is completed (Spanish Laws L38/1999 & L57/1968)

After this the property has a guarantee against defects for 10 years.

If the builder goes bankrupt and you have a bank guarantee in place you will have your payments refunded. If you dont have a guarantee then you will lose your money.

No, in fact, for convenience, we recommend you leave us with power of attorney to obtain your NIE number on your behalf.

No, not if a power of attorney is in place.

You are given the keys to the property on the same day that you sign the title deeds at the notary´s office

On the day of completion when you have received the keys

The notary is a public official who oversees the signing of the title deed and records it on public record that it is understood by both parties and signed in their presence. Everyone who is involved with the sale or puichase of the property attends.  e.g. Seller, buyer, bank manager (if mortgage is to pay for purchase) Solicitor and Notary.

In Spain, you, as the owner hold the title deeds. We will of course, keep these for you for safe keeping

Approximate amounts are:- Council Tax 400€

Wealth Tax 500€

Community Fee (if property is on urbanisation) 300€

We as your fiscal representatives will do this for you, in addition, we will organise and take care of all your tax returns

There are a number of ways to purchase a property, each having advantages and disadvantages. What is best for you can depend on circumstances. We will be happy to discuss this with you and advise on your options

e.g. In your own name                                    In the names of your children

In joint names ie your spouse                          in the name of a limited company

If you do not have a Spanish will then your inheritors will need to contact the British Authorities making the process long and expensive. If you have a Spanish will then the process takes place in Spain and will generally be cheaper and easier.

We will advise and help you make a spanish Will     

Any indiviual legacy under 16000€ is exempt from tax. Therefore, each inheritor of a property only pays tax on their share over 16000€

We can advise on the specific details of this and how you can minimise your tax liability.

Residents pay a maximum rate of 15%. Their capital gains is calculated as part of their Spanish income tax. Non residents pay a flat rate of 35%. If you are over 65 years, have lived in Spain for 3 years and have residency then you are exempt from capital gains tax.

If you intend to live in Spain permanently or to spend more than 6 months each year here you are expected to apply for residencia. We can assist with this application.    

For non residents this is an annual tax based on Spanish assets only, with no exemptions.

Residents are taxed on a sliding scale from 15% to 40%. Non residents are taxed at a flat rate of 25%

The buyer is required by Spanish law to pay 5% of the purchase price to the tax office to cover the sellers

potential tax liabilities. This does not increase the purchase price, they just pay 95% to the seller and 5% to tax

office. We will arrange for this.