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Expert Guidance Through Every Step of Your Property Transaction in Spain
At Platinum Legal Spain, we understand that buying or selling a property in Spain is a significant decision, especially for foreign nationals. Our team of legal experts provides comprehensive support and representation throughout the entire process, ensuring a smooth and secure transaction.
Why Choose Platinum Legal Spain for Your Property Deal?
- In-Depth Knowledge: Our solicitors have a thorough understanding of the Spanish real estate market and laws, guiding you through property transactions with clarity and confidence.
- Personalized Representation: Tailored service for your specific needs, whether you're buying a dream holiday home or selling property in Spain.
- Legal Due Diligence: Conducting thorough checks to ensure the property is free of legal encumbrances, debts, or issues that could impact your transaction.
- Contract Review and Negotiation: Meticulous review and negotiation of contracts to protect your interests and ensure compliance with legal requirements.
Our Comprehensive Services
- Pre-Purchase Legal Checks: Verifying property titles, checking for outstanding debts, and ensuring regulatory compliance.
- Contract Drafting and Review: Drafting and reviewing purchase agreements for fairness and legal soundness.
- Navigating the Notary Process: Assisting with notary appointments and preparing all necessary documentation.
- Post-Purchase Assistance: Handling formalities like property registration, tax payments, and setting up utilities.
Detailed Process for Foreign Buyers and Sellers
Detailed Process for Foreign Buyers and Sellers
Initially, a reservation contract may be created, involving a deposit to officially start the purchase process.
Deposit Contract (Contrato de Arras)
Provides more security with a downpayment, binding both parties to the sale.
Finalizing the Purchase
Involves signing the purchase deed before a notary and settling applicable taxes.
Registration and Notifications
Post-purchase steps include registering the property and notifying various administrations.
Understanding Taxes and Financing
Mortgage Options: Assistance in navigating mortgage options, whether through Spanish banks or foreign branches located in Spain.
Tax Implications: Guidance on taxes involved in property transactions, such as VAT, ITP, and stamp duty, varying based on the property type and location.
Streamlined Process for Foreign Buyers and Sellers
Understanding the unique challenges faced by foreigners in the Spanish property market, we offer services tailored to bridge language barriers and cultural differences. Our team ensures that you are fully informed and comfortable at every stage of your property transaction.
Streamlined Process for Foreign Buyers and Sellers
At Platinum Legal Spain, transparency and reliability are at the core of our services. We keep you informed throughout the process, providing regular updates and being available to answer any questions you may have.
Start Your Property Journey with Confidence
Whether you’re taking the first step towards owning a property in Spain or looking to sell, our team at Platinum Legal Spain is ready to assist you. Contact us today to ensure your property transaction is handled with the utmost professionalism and care.
FAQs
A Reservation Contract is a preliminary agreement where the buyer makes a deposit (usually 1-5% of the property price) to take the property off the market. This contract is not mandatory but is common when an intermediary is involved between the buyer and seller.
The Deposit Contract, or Contrato de Arras, involves a downpayment (commonly 10% of the total price). It provides more security than a Reservation Contract, binding the seller to sell and the buyer to buy. If either party backs out, there are financial penalties.
Taxes depend on whether the property is new or second-hand. VAT (IVA) applies to new properties (generally at 10%), and Transfer Tax (ITP) applies to second-hand properties, varying by region (typically between 4% and 10%).
Yes, foreign nationals can apply for mortgages in Spain. It’s advisable to determine financing needs in advance and consult with local banks or mortgage brokers, as conditions can vary.
Registering the property at the Land Registry is not compulsory but highly recommended. It accredits ownership and encumbrances of the property, providing legal security to the owner.
Consider location, proximity to amenities, and legal status of the property. It’s advisable to conduct due diligence, including checking for debts and legal issues, and consider hiring an architect for a property review.
