- Ensure that the legal title is checked and that the property can be sold free of any debts and charges
- Establish with an English speaking independent lawyer if the property is fully licenced and that no administrative or legal sanctions are in place
- In Spain there are debts which can be placed against the property such as Town Hall and Community of Owners’ fees, and it is important to find out if all of these debts will be cleared as part of the transaction to buy
- Ensure that you have fulfilled the fiscal and legal requirements such as obtaining an NIE (fiscal identification number)
- If you cannot be physically present for the purchase or sale it is best to appoint a lawyer to sign the public deeds on your behalf
- Ensure with your advisers if you need an Inventory if you are buying furniture and contents in the property
- If the property does not have all the necessary licences and is in a rural area, ensure that your lawyer has established who is going to complete this work and who will be responsible for costs and fees
- Find out what charges and taxes you will have to pay when you go into possession of the property and ensure that these are paid annually
- If you are selling, check what tax you would have to pay such as Capital Gains tax and local improvement tax – Plus Valia
- When you have purchased a Spanish property make sure you have a valid Spanish will to ensure that your spouse or beneficiaries can accept the inheritance
- If you are leaving Spain to return to your home country you may be able to offset any Capital Gains tax with the purchase of a new residential home
All of these things are important in ensuring you can enjoy your Spanish property and be able to sell or pass the property to your heirs in future. This list is not exhaustive, however, and each case is different particularly with rural properties.
If you are buying or selling we offer a free first consultation to provide you with all the information you need. Call us on 952 931 781 or contact us on [email protected]
We are holding a series of Free Consultation Open Days at our offices in Nerja – 18th April, Mijas Costa -25th April and Coín – 26th April. Contact us for further information on [email protected] or call 952 527014.