The steps to follow to acquire a property in Spain are 4 points that are detailed below:
The N.I.E. it is the “foreigner identification number”.
This number is essential in all transactions and operations (real estate purchase, bank account opening, telephone subscription, water, electricity, purchase of a vehicle, etc.). A lawyer can request it through a power of attorney or you can request it yourself by appointment at the immigration office in Almería.
The buyer must, once the NIE is obtained, open a bank account in Spain. The bank account is necessary for the accreditation of the buyer's means of payment in the purchase of a property, as well as for the payment of successive expenses and taxes. To open the current account, the bank will ask the buyer for the NIE, the valid passport, proof of income and the tax identification number of their country of origin.
There are three steps once you have chosen the correct property:
Once the 10% has been paid, if you later decide not to continue with the purchase because you have changed your mind, you will lose the money already delivered. On the contrary, if the seller refuses to sell it to you, he will have to reimburse you twice the amount paid.
The original document will be delivered to the buyer and the copies will be sent to the cadastre and the Spanish tax office.
You will also have to pay the ancillary expenses (notary services, taxes and duties related to the purchase, etc.).
When you buy a home in Spain the following prices are not included. They should add 10% to the price of the property to cover:
Usually they are about 1% of the sale price, depending on the work that is needed.
You have to pay 8% of the declared value in the Public Deed.
Depending on the job, between 300 and 600 euros.
They can also range between 300 and 600 euros.
Lawyers Fee 1,000 euros
Purchase Tax at 8% 4,000 euros
Notary Fee 300 euros
Registration Fee 200 Euros
Total cost of ownership, fees and taxes 55,500 euros
Lawyers Fee 1%
Purchase Tax at 8% 8,000 euros
Notary Fee 500 - 600 euros
Registration Fee 500 Euros
Total cost of ownership, fees and taxes 109,700 euros.