Xclusive Spanish Homes know that you may have heard horror stories about Spanish home purchases, rest assured, we will be extremely diligent and do all the necessary checks to make sure all the properties we sell are legal and without issue. We will assist you through every step of the buying process and help eliminate stress and worry. We will make sure that everything is clear and straightforward and will answer all your questions or concerns in straightforward English.
Below you can find out about what you might expect of the buying process.
Firstly, before purchase make sure that you have your finances in place so that you can proceed when we find your ideal home. We can assist with bank accounts and money transfers through our safe and value for money, money exchange partners. As you might expect, with any home purchase, there are always taxes and charges to account for. For this reason you should factor in approximately 13% of the purchase price though we will advise you of exact figures when you view any of our properties. Though some charges may vary depending on your purchase (a resale home or new build for example), the charges generally are made up of the following:
- 10% Purchase Tax or I.V.A on the declared value
- The remaining amount is taken up with:
- Notary Fees
- Land Registry Fees
- Stamp Duty (new build only)
Once you've found the Xclusive home of your dreams, and your offer has been accepted, we will draw up a contract of sale and purchase. At this time you need to pay a deposit of € 3,000. Once the deposit is paid, the price is then fixed and the house is removed from the market.
Completion date is normally around 4 to 5 weeks from the date of contract. If you need to extend this period of time, you can increase it but would then need to extend your deposit up to 10% of the purchase price. Once deposits are paid and contracts signed, the notary and both parties' legal representatives will start to prepare all the necessary paperwork to complete the purchase/sale.
On the day of completion you, the seller, and legal representatives will attend the notary - of course we will accompany you too. The new deeds will be read to you in your own language. Both parties sign the documentation witnessed by the notary. At this time the outstanding balance is paid and you become the owner of your new home.
You will need legal representation to ensure all formalities are observed. Conveyancing fees do vary between different companies. You are of course free to find and choose whichever company you would like to undertake this work for you. If you prefer our partner, NAME OF YOUR LEGAL PARTNER HERE, a well established and respected company in our area, can provide you with excellent professional and personal service to match our own whilst offering very competitive rates. You can contact them through their website (link at bottom of page) or we can put them in touch with you. They will be more than happy, at any stage, to give you a favourable no obligation quotation when you mention our name.