After the selection of the purchased object, a preliminary contract is concluded, at the time of the signing of which, the buyer pays for a ten percent contribution, thereby reservating the facility for himself. For this, for a period of one to three months, a purchase and sale document is drawn up, which is the main thing when buying Spanish real estate-Escritura Publica. The amount remaining after the deposit of the pledge is paid when it is signed in the presence of a notary. The moment of signing is considered the moment of entry into the right of ownership. The names of not only the acquirer himself, but also his family members can be inscribed as real estate owners. After signing the act of sale and entry into the right of ownership, it is necessary to submit documents to the property register. The process of such registration takes up to three months.
After registration of the merchant, the notary independently transfers it to the property register, and the owner receives a notarized simple copy of the merchant in his hands. After checking the acts of purchase, the buyer will be issued a registered original merchant. If the purchase was made using a mortgage loan, then such a document, until the mortgage is repaid, is stored in the bank that provided a loan.
Any real estate, whether it is a city apartment, real estate in Spain by the sea, must take the registration procedure in the Register de Propiedad). According to this register, you can find out any owner, the existence of his debts, the exact area of the room and other data. The sale of real estate can only be engaged in the one who is marked in the register as an owner, or a person endowed with the owner with such a right. Typically, such a right is transferred to agencies.
In addition to paying for the value of the object, a tax in the amount of ten percent of the transaction and payment for notarial services are paid immediately.
After registering the purchase, it is necessary to conclude a contract for the provision of utilities. Insurance is also usually issued, which is from two hundred and fifty to three hundred and fifty euros per year.
It must be taken into account that in Spain, to reduce taxes and current expenses, the underestimation of the declaration value of housing by thirty and forty percent is practiced.