Once you tell us your budget, what you want in a home, and your non-negotiables, we'll start sending you options of homes on the market. We also have access to plenty of off-market homes. So if we know of any that fit what you're looking for, we'll send you those, too.
We'll organize a viewing trip, pick you up from the airport, and explore selected properties together. If you find your dream Spanish home, we'll draft a reservation contract to secure it exclusively for you.
Review the contract with your lawyer, provide a security deposit, and conduct legal examinations.
Prepare the purchase contract, make the initial payment (around 10% of the price), and secure payments with a bank guarantee.
Safeguard your interests by authorizing your lawyer to handle important tasks, including signing the title deed.
Enjoy your new home in Spain, and feel free to contact us for any further assistance.
At Witt España Estates, we possess extensive knowledge about the procedure involved in buying real estate in Spain. If you choose to purchase a property through us, we will provide comprehensive support throughout the entire buying process.
Our primary objective is to ensure your safety and security throughout the process. We will maintain constant communication with you, your lawyer, and the seller or their representative. Our team is always available to address any queries you may have.
When acquiring a property in Spain, we strongly advise you to engage the services of a lawyer. The purchasing process in Spain differs from that in Denmark or Germany, and we want you to feel secure at all times. You have the option to select your own lawyer, or we can recommend a local lawyer with substantial experience in assisting clients through the process, who also speaks your language.
After carefully selecting suitable properties, we will organize a viewing trip. We will pick you up from the airport and accompany you as we explore the chosen properties together. If we find the Spanish home of your dreams during this tour, we will promptly initiate the drafting of a reservation contract. This contract will ensure that the property is reserved exclusively for you and unavailable to others.
We will collaborate closely with your lawyer, who will review and explain the reservation contract to you. At this stage, you will also need to provide a security deposit, typically ranging from approximately €6000 to €10.000. The exact amount depends on whether you are purchasing a new development or a resale property. If the seller fails to meet the legal or contractual conditions outlined in the contract, the security deposit will be refunded. However, if you decide to withdraw from the purchase, the amount paid is usually forfeited unless alternative arrangements have been agreed upon.
The lawyer will meticulously examine all documents and legal aspects of the transaction, such as building permits and outstanding debts. If any conditions require further investigation and reservations, the lawyer will ensure that these conditions are satisfied before proceeding to sign the actual purchase contract.
Upon confirming the accuracy of all the legal aspects and approving the transaction, a purchase contract will be prepared. Subsequently, you will make the first payment, which typically amounts to around 10% of the purchase price. For new construction or developments, this percentage may be higher, ranging from approximately 20% to 40%, paid in installments. However, the security deposit is deducted from this initial payment. In the case of new developments, the lawyer will ensure that you receive a regular bank guarantee from the provider to secure your payments.
The remaining portion of the purchase price is paid when the title deed is signed.
We recommend granting your lawyer power of attorney to safeguard your interests throughout the property purchase process. This includes authorizing them to sign the title deed on your behalf with the notary, officially registering it with the property register, and ensuring that utilities and fixed expenses are registered in your name and paid via direct debit from your bank account. This standard procedure is typically offered by law firms.
We are pleased to offer assistance with your NIE application, which is equivalent to a social security number. A NIE number is required for various purposes, including property and car purchases, as well as opening a bank account. Your lawyer can also assist you in this process.
Furthermore, we are more than willing to help you establish a bank account in Spain. We can accompany you to a preliminary meeting with a bank advisor who speaks your language, providing you with valuable guidance.
It is important to acknowledge that when purchasing a property in Spain, there are additional expenses, including taxes and fees, apart from the purchase price.
One of the key components is the payment of VAT or sales tax, which varies depending on the property type. For newly developed or newly built properties, a 10% VAT is applicable. In the case of resale properties, VAT is not levied; instead, a transfer tax of 7% is imposed.
Furthermore, a stamp duty is incurred for the title deed, notary services, legal assistance, NIE number acquisition, and other related factors (approximately 3% of the total).
Consequently, it is advisable to budget for an additional 10-13% on top of the purchase price to account for the final expenses when acquiring a property.
If you are purchasing a plot of land, the VAT rate is 21%.
Please note that our assistance is provided completely free of charge, regardless of whether you decide to proceed with the property purchase or not.
