You are purchasing a property for a €100.000 and you are above the age of 32. The apartment itself costs €100.000, however due to the transfer tax you will have to add another 10% to the value. The final price, including the costs of a notary and registration taxes, will be around €112.000 for acquiring the property.
If you need assistance with the buying process from a lawyer, then his fee will be roughly 1% of the buying price.
Before buying a property you need to know how and if you can finance it.
It is possible to pay by transfer or bank check.
Getting a mortgage in Spain:
If you are NOT a Spanish citizen, there can be difficulties getting a mortgage for more than 50% of the buying price.The bank will need to evaluate the flat (takes around 2 weeks) and the evaluation will often be lower than the market price. The evaluation of the apartment can be used to set the price, but is often not. However, the price evaluated by the bank will be the amount you can get a 50% loan of. Casamona can advice and help you with the process.
Getting a mortgage in your own country:
Casamona can help you get in contact with a mortgage specialist who can help you find the best solution.
Casamona can advise you on which bank to choose and how much is needed to pay their services.
Casamona can do this for you – if you have a buyer’s agent contract: more information in section 4(c) – Finding an apartment (Buyer’s agent contract).
After having a spanish bank account, you can search for an apartment for sale on our website : http://www.casamona.com/new-apartments-for-sale/
Or if you need help from our sale agent, you can contact us via:
Tel: + 34 933 041 532
DO I NEED TO GO TO BARCELONA TO SIGN THE ARRAS?
Many buyers choose to come to Barcelona to sign the Arras agreement in the presence of the seller and the lawyers, but you can also sign the contract in your country of residence or give your lawyer power of attorney to sign for you.
The signing of the Escritura is the final contract of the buying process. When the Escritura has been signed, the title deed will officially be transferred to the buyer and the seller will receive the full payment for the property. Normally, the seller will receive his payment through bank transfer or by cheque.
This final transaction must be supervised by a notary, who will ensure that the agreement will be executed appropriately and within the Spanish legal framework. Casamona can assist in search for a notary who speaks English, as we have dealt with many in the past. Casamona will of course assist you throughout the entire process.
In order to complete the final transaction, the buyer and the seller are required to bring the following to the notary: Casamona will of course make sure the seller does this.
When signing the Escritura, you are stating that you are fully aware of the conditions of the property. Casamona would advise anyone who is buying property in Spain, to study the contract with a lawyer before completing the sale. There are some sections of the contract that can be difficult to understand as a foreigner. It is not the notary’s responsibility to make sure that you have read and understood the Escritura, so make sure that you are aware of the conditions before investing.
When the last legal document has been signed, the keys will be handed to the new owner and the buying process will be over. From there, the buyer must pay a series of mandatory taxes. All information about all cost and taxes are explained under section Costs and Taxes.