Spanish real estate specialists
How do I buy a house in Spain
Buy Property in Spain
Inmo Associates have compiled a comprehensive list of the most frequently asked questions from clients considering purchasing a property in Spain.
How do I begin my search?
Before you begin your property search we recommend that you find the right location. Spain is a large country so it will mean a few trips but will save you a lot of time and money in the long run. With the purchase tax at 7% it could be an expensive mistake if you decide you have bought in the wrong place.
How much will it cost to buy a property in Spain?
When you are looking to purchase a property you need to remember that it will cost you approx 10% on top of the purchase price, this is to cover your Property purchase taxes, notary fees, stamp duty, local taxes, legal fees and a mortgage set up fee if applicable.
How much are the estate agent fees?
Our service to you the buyer is completely free of charge as all of our fees are covered by the commission we make when we sell a vendor's property on their behalf. See our list of Services for how we can help.
What happens when I see a property I like?
When you find the right property and you want to make an offer you will do so in the same way as the UK. We will contact the vendor and negotiations will commence. Once the offer is accepted we will guide you through the Purchasing Procedure as this is a little different to the UK. See our Purchasing Procedure.
Can I negotiate on a property?
It is not uncommon for a Vendor to accept between 5% and 10% lower than their asking price depending on the property and the urgency with which a sale is required. All Vendor situations are different and we will guide you on this when you view the property.
How long does it take to complete on a property?
This depends on your situation and the Vendors, normally the completion time is around 6-8 weeks. It can be a lot sooner than this as chains are un-common in Spain or if required, longer. This is something that will be discussed with the vendor when you submit an offer.
Is it safe to buy in Spain?
There are a few horror stories reported in the press about land grab and illegal builds in Spain. The process here is very safe and secure and as long as you follow some basic rules you will encounter no problems. The first is to always use a lawyer, you would never consider buying a home in the UK without one so don't here. Another is to do your research, research the area and the estate agent you use. Lastly do not rush into buying a property, if you feel rushed or pressured into making a decision then possibly you need to change the agent you are using.
With regard to land grab, 95% of properties we sell are built on land classified as 'urban' so are unaffected by the much hyped land grab laws. If you are buying a rural finca then more care must be taken to ensure: a) that the build is legal and recognised as such by the local town hall and b) that there are no plans in place to develop the surrounding area. Rural properties have been subject to this law so caution is advised if your heart is set on a country property.
Please feel free to Contact us should you have any other questions.
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