The administrative procedure
In order to be fully prepared when you find a perfect property, it´s crucial to start the administrative procedure at the very beginning of the property search process. You will need:
Documentation: N.I.E (for foreigners) / D.N.I. (for Spaniards)
For the reservation of the property and/or purchasing pre-agreement (arras penitenciales) for non-residents the copy of the passport is enough.
Search and zone selection
Understanding your needs and communicating them to us will help us to be more effective during the process of your search.
Zone selection is a key factor for making a correct decision. You have to decide whether you´d prefer to live in the centre or in the residential area, in a house, penthouse or in an apartment, whether there must be a swimming pool and a garden, if it has to be located near to the best international schools, what is the distance to the airport, shopping area, etc.
The purchasing process
These are the basic purchasing processes once the ideal property has been found:
– Negotiation and deposit: leaving a deposit to reserve the property is an optional step in the purchasing process. The purpose is to show the seller your interest towards the property and your intention to reach an agreement. The reservation indicates the price as well as the time frame in which to complete the purchase. If an agreement is not reached between both parties, the deposit is automatically returned. Between the reservation and the purchasing pre-agreement, all the documentation with respect to the property is delivered to the buyer: Register Certificate, IBI, Expenses.
– Purchasing pre-agreement (Arras penitenciales): A usual percentage to be paid out within the purchasing pre-agreement corresponds to 10% of the agreed price. This agreement resumes the final price agreed and the date of the public signature at the notary.
– Purchasing agreement (Escritura): Public signature of the purchasing agreement is certified by the notary chosen by the buyer. At this time the seller´s title of property free of charges is handed over as well as the amount to be paid is subtracted from the parts paid previously in the concept of the deposit and/or pre-agreement.
Taxes of 10% and the expenses of the purchasing agreement must be considered on top of the price agreed. The expenses are related to the notary fees and property registration fee (Registro de la propiedad).
ILIVEBARCELONA can provide you with the Russian speaking and English speaking lawyers specialized in this field.
Contact us for further details