Today, many would like to acquire real estate in Spain – at least for the sake of the soft climate of this country and a special lifestyle. But how is the procedure for buying real estate to Spain. There is a strict regulation described in the relevant legislative acts on this score.
So, let’s say you have chosen a suitable real estate object. After that, you can start drawing up the necessary documents. At the initial stage, you will need to study the document called Nota Simple Informativa del Registro de la Propiedad. This is a kind of history of your object. That is, this document indicates who used to own the house, whether there are any debts on it. All the characteristics of real estate are also described there, including its type, area, number of rooms, etc. D. The authenticity of this document should be verified by lawyers. After that, they will need to check whether information about this object in the property register has been made, and if entered, you can proceed to the next stage of the transaction. And it implies the opening of an account in any of the Spanish banks. Subsequently, the buyer will have to introduce (or transfer) a certain part of the money on this subject.
After that, the contract of sale is directly drawn up. It should be compiled in triplicate. This is a standard contract, it indicates the object itself, its price, and specific terms of the transaction. Only after the contract is drawn up, a deposit is transferred to the bank account-10-20 % of the transaction amount. Moreover, after the money is transferred, the seller will no longer be able to terminate the contract. After all the documents are executed, it will be necessary to pay the remaining amount. This can be done one -time by paying a real estate purchase tax and notarized costs. You can pay only 30-40% of the value of real estate, and repay the rest at the expense of the loan. However, in this case, the original merchant will be in the hands of the buyer only after the final repayment of the loan. In addition, the purchase tax and the cost of legal registration will also have to be paid immediately.
The buyer becomes the full owner of real estate only after Escritura Publica is signed, this usually happens a month after the issuance of the contract of sale.