HOW TO BUY PROPERTY IN SPAIN
If you decide to buy a property, we will accompany you throughout the purchase. We offer an individual approach to each client and his requirements. At present VAT (known as IVA in Spain) is 10% on the purchase price of residential properties (villa, apartment, etc) and this tax will be added to the price of your property.
- Establishment of a NIE (Número de Identidad de Extranjero-alien identification number) which is a tax identification number
- Open a bank account in a Spanish bank
- Real estate booking, booking agreement and deposit of 6,000 EUR
- When the property is under construction: Purchase Contract, 30% within 45 days after signing the Purchase Agreement.
- 30% payment after completion
- When handing over the property and signing the authentic instrument to the notary, the remaining payment is 40%
- When the property is built: a booking of EUR 6,000 is paid and 100% payment within 60 days when the property is handed over and signed by the notary public