Information about purchasing real estate
These are the requirements to be met before purchase:
- Non-residents have to apply for a foreigner's registration number (NIE)
- Non-residents from non-European Union countries need official certification about the imported amount of foreign currency
- If both, buyer and seller, are non-residents, a certification from the local police is required as well. In such a case, the money transfer may be transacted abroad
- Cadastral map excerpt
- Confirmation of paid property tax, if a building or house belongs to the property
- An excerpt of the property registers
All these paperwork is needed for the notary certified contract. Then there are a lot of things left to do: pay tax on land acquisition, apply for the change of land register, pay Pluvial tax, apply for the changes in cadastral map and of course to contract with local water, phone and electricity suppliers. While the first two items are usually made by the notary's office, you need to care about all the left. Or just contact us, and we will manage it for you.
To avoid disappointments and losses we strongly recommend you to engage an expert to handle the business. The risk of a property purchase abroad can be minimized and the investment in expert's commission will be always worthwhile.
A professional consultant will inform you about all the possible risks as an independent third party. He will inform you about the property's state and gives you all necessary facts to estimate the value of your future purchase. And if it seems to be in bad state, a good consultant tells you the truth and will dissuade you from buying it – that's our policy!
If you are already engaged with negotiations and the seller is not interested in any independent consultant or expert, you better keep your hands off! Especially, when it appears to be an attractive offer you should never forget this counsel. Only people who are hiding something try to shy away from independent advice.