Buy a property in Spain
Spanish Real Estate Market.
The Spanish property market seems to be going through a difficult period for the prices have fallen dramatically; however, this could be an advantage for those wealthy investors wishing to expand their boundaries.
As a country, Spain has many qualities and potential to offer to foreign investors. Its privileged position makes it really appealing for foreigners. Its climate, Mediterranean lifestyle, gastronomy, culture and geography create a wonderful combination not only for tourism but also to live occasionally or permanently.
Cities like Barcelona, Madrid, Alicante, Marbella or Mallorca are just a few examples of the places where you could find excellent properties with wonderful characteristics, not only newly built but of second hand or transmission.
For instance, Barcelona and Madrid are big cities, which receive thousands of tourists throughout the year plus these are the most important cities of Spain from an economic point of view; therefore, they could be the perfect spot for those entrepreneurs looking for a place to live and eventually set up a company.
On the other hand, Marbella and Balearic Islands offer a wonderful weather and a high standard lifestyle surrounded by the best restaurants, stores, hotels and homes. These places are well known for their famous regular residents, such as celebrities, presidents, among others. These cities are so popular among wealthy foreigners that they count with international schools and colleges and newspapers in different languages (such as English and German).
Regardless the type of property you wish to buy (home, holiday or business), our Law Firm counts with a group of experts who can assess you throughout the entire process. Our Law Firm’s Real Estate experts can offer you the assessment you need in relation to the Spanish current legislation for the acquisition of properties. Our attorney can help you contacting a reliable Real Estate Agency, where you can be assessed about the type of property you should buy and the perfect location of it.
Process to buy a property in Spain.
As stated before, probably the first step you shall complete is selecting the property of your dreams. In this case, we recommend you to find a real estate agent who guides you over this. Once you have selected one or more properties, our solicitors can help you running a check of the property to avoid future problems or pitfalls. Some of these steps could be:
- Check with the Land Registry the status of the property.
- Verify if the property is up to date with taxes, services, etc.
- Check if the seller, or sellers, of the property appears in the title deed of the property and on the Land Registry as the owner.
- Verify that there are no burdens, debts, claims or any other procedure related or initiated against the property.
It is important to take any safety measure before handing any amount of money, in order to avoid any fraud; thus, seeking an expert guidance is a wise movement. You shall consider as well that if the property is registered, or was built, as part of a social program, it can’t be sold. Moreover, if the property is not yet built, we can run a check of the licenses in connection thereof and the information of the constructor company.
Once that we are sure that the property complies with all the legal requirements to be sold and bought, we will draft and review the purchase and sale agreement to make sure that all the conditions are correct and respect the law. Also, we can help you contacting a financial institution in order to get a mortgage if you need it.
Our Law Firm will help you going through all this process without stress or unnecessary travels to our country. Contact us and initiate your property acquisition.