Buying in Barcelona

Are you thinking of buying a property in Barcelona, but do not know how to go about it? Would you like some help in searching for the perfect apartment?

Do you need to get a NIE or open a Spanish bank account and don’t know how?

If so, Casamona International can help you. As an international company we all speak English and have employees who speak all the major languages, including Danish. Our contracts and agreements can be in English as well.

Steps

Financing
First step is to think about the financing and what the total cost will be.
1. Costs:
When buying a property, you will have to consider:
The buying price
Notary fees: €500 – €1000
Transfer tax: 10 % of the buying price, (paid within 20 days after paying for the property at the notary)
Registration taxes : €1500 – €2000

Example:
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.
2. Financing:
Before buying a property you need to know how and if you can finance it.

Cash buy:
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.

Getting a NIE
1. What is a NIE?
The NIE or Numero de Identificacion de Extranjeros, is a document which permits you to sell or buy a property in Spain, as well as other services (health, bank and finance transactions, etc.).
The Casamona team offers a management contract in which we help our clients with practical stuff, such as a NIE, in order to ease the process of integrating themselves in the Spanish system.
2. How to get a NIE:
In order to obtain a NIE you can choose one of the following options:
If you are already in Spain, you can show up in person at the Foreigners Office at the police station and stand in line for a NIE.
Address: Rambla de Guipuscoa 74 in Barcelona.
There are four steps in the application process for the NIE:
Making appointment:
You need an appointment (cita previa) for the Oficina de Extranjeros. You can get this here. Click on ‘Barcelona’ then ‘Certificados EU’.
Fill a NIE application form that can be found here: 
https://sede.administracionespublicas.gob.es/icpplus/citar
For non-EU citizens, a proof of legal entry into Spain and two passport photos will be needed;
Assuming all your forms are correctly filled out and you have the correct documentation, you will be given pay slip, which must be taken to a bank to pay for the associated taxes (this is around €10.60).
Be aware, however, that many banks will only deal with this transaction between 8.30am and 10.30am, so be prepared to either get to the Foreigners’ Office early, or complete the process over two days. Once paid, you must take your stamped slip back to the office, where you will be able to process your NIE. You will be given the number, but will have to return in approximately one week to pick up the official paper.
At the Spanish embassy in your country;
Online http://www.nienumber.com.
In the case that you have a buyer’s agent contract, our team can help you with this process (cf : section 4.c)
Contact us at casamona@casamona.com
Casamona team is always happy to help with any questions concerning these matters. 
Opening a Spanish Bank Account
In order to do this you will need a NIE and a valid passport.

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).

Financing
First step is to think about the financing and what the total cost will be.
1. Costs:
When buying a property, you will have to consider:
The buying price
Notary fees: €500 – €1000
Transfer tax: 10 % of the buying price, (paid within 20 days after paying for the property at the notary)
Registration taxes : €1500 – €2000

Example:
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.
2. Financing:
Before buying a property you need to know how and if you can finance it.

Cash buy:
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.

Getting a NIE
1. What is a NIE?
The NIE or Numero de Identificacion de Extranjeros, is a document which permits you to sell or buy a property in Spain, as well as other services (health, bank and finance transactions, etc.).
The Casamona team offers a management contract in which we help our clients with practical stuff, such as a NIE, in order to ease the process of integrating themselves in the Spanish system.
2. How to get a NIE:
In order to obtain a NIE you can choose one of the following options:
If you are already in Spain, you can show up in person at the Foreigners Office at the police station and stand in line for a NIE.
Address: Rambla de Guipuscoa 74 in Barcelona.
There are four steps in the application process for the NIE:
Making appointment:
You need an appointment (cita previa) for the Oficina de Extranjeros. You can get this here. Click on ‘Barcelona’ then ‘Certificados EU’.
Fill a NIE application form that can be found here: 
https://sede.administracionespublicas.gob.es/icpplus/citar
For non-EU citizens, a proof of legal entry into Spain and two passport photos will be needed;
Assuming all your forms are correctly filled out and you have the correct documentation, you will be given pay slip, which must be taken to a bank to pay for the associated taxes (this is around €10.60).
Be aware, however, that many banks will only deal with this transaction between 8.30am and 10.30am, so be prepared to either get to the Foreigners’ Office early, or complete the process over two days. Once paid, you must take your stamped slip back to the office, where you will be able to process your NIE. You will be given the number, but will have to return in approximately one week to pick up the official paper.
At the Spanish embassy in your country;
Online http://www.nienumber.com.
In the case that you have a buyer’s agent contract, our team can help you with this process (cf : section 4.c)
Contact us at casamona@casamona.com
Casamona team is always happy to help with any questions concerning these matters. 
Opening a Spanish Bank Account
In order to do this you will need a NIE and a valid passport.

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).

Finding an apartment

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
Email: Casamona@casamona.com

Signing the Reservation Contract
The reservation contract is the first contract of the buying process. It is an agreement between the seller and the buyer, where both parties agree to commit their time and resources to a specific sale. The buyer will put down a deposit and the seller will withdraw his apartment from all portals and websites. This means that the seller has confirmed his intent to sell, and the buyer has confirmed his intent to buy.
It is important to ensure that all required funds have been collected in order to complete the sale before the reservation contract. As a buyer, it is important to ensure that you are financially capable of completing the sale, before signing the reservation contract. If the buyer withdraws from the sale for whatever reason, the seller will keep the deposit which is non-refundable.
If the buyer is not familiar with the Spanish legal system and is unsure of how to conduct the necessary background checks, it is strongly encouraged that they hire a lawyer before any documents are signed.
When you have done the reservation of the property, then your NIE and a Spanish bank account are needed. The reservation fee is normally €3000 + IVA
Signing the Arras contract
After the reservation contract has been sorted, the sales process can progress to the next stage which is the signing of the Arras contract. The Arras contract is an agreement between the involved parties, where they set a final sales price and a date in which the final transfer must be completed.
When the Arras has been signed, the buyer must pay a deposit which normally covers 10% of the sales price. Once the Arras contract has been signed, both the buyer and the seller are legally bound to the sale and there will be penalties if one of the parties violates the terms and conditions of the deal.
The Arras contract should include article 1.454 of the Spanish civil code, which states that in the event of the buyer backing out of the deal, the full amount of the deposit will be lost. If the seller backs out, he must pay the buyer twice the amount of the deposit that was put down when the Arras was signed.
Casamona can do arras for you- or we can recommend a lawyer for you.

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.

Hiring Notary
Hiring a notary is essential for the acquisition of an apartment. In order to complete the transaction and to receive an official document stating that you are the new owner, you will need to hire a notary. There are two packages you can select.
Basic package:
With a basic package, the notary will only assist with the Escritura –final deed. The cost for that is normally €400 – €500.
Full package:
With the full package, We help with the Escritura and adaption in the Spanish system. This entails helping to pay for the registration taxes, and simplifying the process of getting integrated. This can cost from €800 to €1000. Casamona can help linking you to a notary.
Signing the Escritura Contract

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.

Proof of identity:
1.The title deed of the property;
2.Proof of IBI payments in the past;
3.Proof that community fees (gastos de comunidad) have been paid over the years;
4.A document which provides an overview of utility costs;
5.Proof that the property is debt free;
6.Your lawyer (if you have one);
7.Cedula de habitabilidad (permission of residential use);
8.Energy Efficiency Certification;

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.

 

At Casamona International we offer the Buyer Consultant service.

  • If you are looking for an apartment in Barcelona – for more than 300.000 euros and need Casamona’s help through the whole buying process
  • If you are looking for an apartment under €300.000 in Barcelona
  • If you are looking for homes outside Barcelona

We would love to help you during the entire buying process – Learn more about the Buyers Package


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