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Features buying property in Spain

Buying a property in Spain and not be afraid to be deceived, it is important to consider all the details of the process of sale and purchase of the necessary housing. In this article we will talk about how to properly execute the contract of sale, as well as features buying with a mortgage loan and consider some of the types of taxes on housing.

How to make a contract of purchase and sale

Buying property in Spain is necessarily accompanied by drawing up of a contact of sale in which shall be entered in the detailed information about buyer and seller, the payment and the term for payment of funds, including a detailed description of housing. According to the Spanish legislation, such a transaction should occur within three months after official registration of the contract and its signing by the two parties. To seal the deal and remove the desired object from the message boards, it is recommended to pay a Deposit in the amount specified by the seller (most often, is not more than 10% of the total cost of the selected accommodation).

To continue with the preparation of documents necessary for further transactions, you should request the appropriate data from the Register of Ownership – it will help to recognize the true history of your property. In addition, in parallel to check future purchases for the presence of arrears on utility bills and taxes. Before buying a foreigner must submit documents that he was given an ID number, giving you the opportunity to make a deal.

Buying property with a mortgage

If you are planning to buy a property in Spain through a mortgage, the Bank should attend to those individuals whose names are included in the contract of sale. In case of impossibility of personal presence can be trusted these matters to the Trustee, who will be on hand supporting documents – this is made all the Spanish notary with an apostille and sent to the land registry.

Types of taxation on housing

In the process of buying property, which belongs to the secondary market should be required to pay several types of taxes – ten percent transfer tax ownership of the property and notary fees, which amount to 1.5% of the total cost of housing.