Buying a property in Spain is a fun and exciting process, and here at Reveny, we strive to guide you through every step. With our experience and extensive expertise, we aim to make your real estate transaction as safe and comfortable as possible.
C. el Iiwi C, 4
Buying a property in Spain is a fun and exciting process, and here at Reveny, we strive to guide you through every step. With our experience and extensive expertise, we aim to make your real estate transaction as safe and comfortable as possible.
Your dream home is waiting: Have you found a property that has caught your interest?
Do not hesitate to contact us at Reveny for further information and to arrange a viewing, either in person or via digital platforms. Our knowledgeable agents will not only show you properties that match your preferences but also provide insight into the area. We are happy to share information about popular beaches, restaurants, grocery stores, hospitals, and even the best golf and paddle courts in the area.
Due diligence: As a buyer, you are responsible for carefully inspecting the property before signing the purchase contract. We can recommend independent technical inspectors to assist with this process and ensure that you are fully informed about the condition of the property.
NIE number for ownership: Owning a property in Spain requires a Spanish tax identification number, known as an NIE number. This is necessary to open a bank account and officially enter into the property purchase. Apply for your NIE number at the Spanish police station, embassy, or consulate in your home country. We can also assist you through this process and provide advice on how to streamline it depending on your location in Spain.
Preparation for purchase: After you and the seller have agreed on the terms, a reservation agreement is drawn up specifying the price and the date of possession. A reservation fee of 5,000 euros is paid in connection with this. At the signing of the purchase contract, a deposit of usually 10% of the purchase price, minus the already paid reservation fee, is paid. During this period, which usually lasts 2-7 weeks, it is important that you prepare by obtaining an NIE number and arranging financing.
Costs and taxes: After finding your dream home and negotiating the price, it is important to understand the additional costs that may apply. For used properties, transfer tax typically ranges from 7-11%, while new construction is subject to VAT of about 10% and a stamp duty of approximately 1.5%. Notary fees and registration fees, legal costs, property taxes, and connection fees for water and electricity are also added. These fees vary, and we can provide specific information about the property you are interested in.
Possession and title deed: The time from the reservation agreement to possession varies, and it is important that you have enough time for preparations. At possession, you receive the keys and can move in. The title deed is registered in the land registry, a process that takes approximately 2-5 months. A notary public, an officially appointed lawyer, verifies the parties' identities and prepares the deed of sale, which forms the basis for the title deed application.