BUYING PROPERTY PROCESS

Always there are expenses not counted originally when you purchase property in Spain. Translations, taxes, increments in mortgages by interest changes, and the main one are the expenses of notary. Notary is in charge of registration of new owners, plus tax due and drawing up the deeds, in accordance to a fee set by the government.

Translations are important, and necessary in order to know clearly all the information. Contact a local translation company and pay for your own translator - services are not expensive and are well worth paying for to protect your own interests.

Another important issue when buying Spanish property, it is the exchange rate. As UK does not participate in the EURO currency, as it has the pound sterling, it is convenient to have that in consideration,

As many purchases of property are not ended, it is really important to acknowledge about legal advices and requirements before signing any documents. Once the documents are signed, these will be the only proof of defence in case of possible claims after the property is delivered to the buyer.

An interesting advice about saving money related to land purchases: if you buy land in order to build a house, try to make all the constructions from the beginning, if not, once the house is built, future renovations will be taxed higher than if they were constructed from the beginning as for example a pool.

• Non-Resident buyers
• A copy of your passport

• Civil situation, age, family etc

• Your 4 or 5 salary payments with proof of payment
• last tax declaration of your original country (P-60)
• If you are an employer or employee, a copy of your tax returns and annual accounts for the last 3 fiscal years
• Information about other properties owned.
• Information about the property you want to buy
• A brief description of current job situation, other incomes, investments, debts and other properties whether abroad or in Spain, etc.
• Information about any other.

Resident buyers

• Proof of the resident permit
• Civil situation, age, family etc.
• Your 4 or 5 salary payments with proof of payment.
• Information about the property you want to buy.
• Copy of your last tax declaration
• Copy of the last IBI bill.
• Information about other owned properties
• Information about debts.
• Information about any other ways of income
• Annual accounts for the three fiscal years (if employer or employee)