With a “NO nonsense” approach and by giving you all the facts, purchasing will be stress free and you probably will make some new friends at the same time!

How? There are 4 steps to purchasing a property in Spain.

1. First establish your budget, be true to yourself and be sure to be aware of the closing costs. Decide whether you will require a mortgage. Distant-Shore has a good relationship with reputable Mortgage advisers who can handle any type of requirements, in a friendly and efficient manner. They also speak your language! Ask us and we will point you in the right direction.

2. Contact Distant-Shore to discuss your property requirements. Although we have access to a carefully chosen and often exclusive portfolio, we also have access to other quality properties through our close knit relationship with reputable agents. The main thing is: We will listen to your needs!

3. Once we have found the right property for you and the price has been agreed, we will introduce you to a reputable and registered lawyer. It is essential to use the service of a good Lawyer: it will be money well spent! You‘ll agree with us, when you will be sitting by the pool of your new Home!

4. At this point a Deposit will be paid to secure the property, whilst the legal searches are being done, normally between 6000€ and 10,000€. Your Lawyer will then carry out the necessary searches, check the Title Deeds and ensure that all related documents are in order. The money should always be paid via a Lawyers client’s account for your own security. This will also take the property off the market, until further monies are paid to the Lawyers, at the time of signing “the private purchase contract”, normally a 10% of the property value.

* Once your Lawyer is satisfied with the paperwork and all relevant checks have been made, a legally binding “Private Purchase Contract” will be drawn and a completion date shall be fixed to suit both parties. At this stage, you will lodge a 10% deposit with your Lawyer. Should the Vendor withdraw, he should repay double the amount of the deposit. This ensures that the potential Buyer is fully protected.

* When the Purchase contract is drawn, you will agree on a completion date to suit both; bear in mind it can be from 2 weeks to 2 months!

* On “Completion Day”, we will accompany you to the Lawyers offices where you will be going to the Notary to sign the Deeds , complete the sale and make the final payment. (If you cannot be present, we can arrange for “Power of Attorney” where your Lawyers will represent you.) The Notary is where all transactions in Spain are duly notarised and given the stamp of approval.

* The Notary will then notify the Land Registry of the change of Ownership. From then on you will be responsible for all taxes relevant to the property like Utility Bills, IBI and community Fees which can be set as Direct Debits by your Lawyer.

Then…. Relax! Easy, wasn’t it?

* Legal Costs Involved as a rule of thumb: You should loosely budget for an additional 10% on top of the purchase price, or 11% if you need a Mortgage.

On the purchase of a “Resale” property, which already has a title Deed

• 7% Transfer Tax.
• 1% Legal Fees to the Solicitor plus 16% VAT.
• Notary and Registration Fees are payable to the Public Notary. This is normally between 600 and 1200€ depending on the value of the property.
• If you have applied for a Mortgage, the set up fee from the Bank, plus the registration fee to the public Notary to register the Mortgage in the Town Hall.

On “New” purchase or “Off Plan”, on top of the purchase price you need to add:

• 7% VAT.
• 1% Legal Fees to the lawyers plus VAT.
• 1% Stamp Duty.
• Notary and Registration fees are payable to the Public Notary. This can vary from 600 to 1200€ depending on the value of the property.
• If you are taking a Mortgage, again, add the set up fee from the Bank as above.

* Plusvalia(Capital Gains Tax) is normally paid by the Seller, (Vendor) unless otherwise stated.

    Finally, remember that the legal process in Spain is totally different in Spain. Appointing your Lawyer in UK will be of NO help in Spain whatsoever! It is vital that you let us guide you through the choice of a reputable lawyer, one who answers his phone and speaks your language! Or a knowledgeable and fast working Mortgage Broker, should you need one. As we work hand in hand with both and communication is the key, we will take to the smooth and successful completion of your purchase.

     However, at Distant-Shore we go a step further, simply because we love what we do and we actually care for our clients. Simple as that!

See in our “Services” section, how we can help before the purchase, during the process and after the signing of the Deeds and for the fun part: Furnishings and Interior Design!