BUY A HOME
People interested in buying real estate always have the same question: who to buy the property through?
Who to buy through?
We can say with certainty that, in order to avoid the multitude of problems in the selection of the property, the legal formalization and the security of the purchase-sale agreement, it is reasonable to deal with professionals in the sector.
At Sánchez Real Estate, we provide you with all the services in the purchase of homes. Our extensive experience in the sector, the professionalism of our staff and a wide portfolio, allow us to complete the entire negotiation process for the purchase and sale of properties successfully.
THE ADVANTAGES OF OUR PROPERTIES
An exceptional portfolio will allow you to choose the best option very quickly. Our sales advisor will offer you the opportunity to obtain detailed information on any question related to the purchase process.
For Andalusia, it was introduced in the Statutes on October 11, 2005 to regulate and ensure that the information provided is complete and correct. Decree 218 shows all the details of the property and, in the case of properties for sale, informs if there is a mortgage or extensions on the property that have not been added in the Purchase Deed (swimming pool, garage, extra bedrooms, etc.), and therefore do not appear in the Registry data (Simple Note).
The home buying process
You will contact the sales advisor and provide them with information about your needs. We will then present the seller with what you are looking for as a buyer.
• Property selection, proposed in the company's database or by individual property search request.
• Property inspection by location, according to the buyer's preferences.
• Simple Note of the property, preliminary for checking the selected properties in order to detect the presence of debts and the definition of all owners.
• Price negotiation and preparation of the private purchase-sale contract with the owner. Formalized with a Housing Reservation.
• Transfer of documents for the signing of the purchase deed before a notary and, if necessary, the formalization of the mortgage loan.
• Attendance at the public deed of the purchase agreement with the notary, the delivery of keys and all property documentation.
• If desired, we can formalize a turnkey contract to furnish and equip your property.
• If necessary, our after-sales service will take care of the payment taxes, related to the purchase, the formalization of the water and electricity contracts, etc.
Acquisition costs
RESALE OR SECOND-HAND PROPERTIES
The following expenses will apply:
Property Transfer Tax
7% for properties up to €400,000 sale price
9% for purchases between €400,000 and €700,000
10% for purchases of €700,000 or more sale price
Legal/Management Fees
These can vary depending on the lawyer or manager hired.
Notary & Registration Fees
The notary and property registration fees are primarily a percentage based on the property value in the sales deed.
Home Insurance
The buyer can assume the insurance of the previous owners, or if preferred, can contract a new insurance policy with the company of their choice.
Tax Advice
As it is mandatory for property owners in Spain to pay taxes, whether residents or not, we advise non-resident buyers to hire a Fiscal Representative.
Wills
It is recommended to prepare wills to cover all properties and assets in Spain, and this can be done through a lawyer.
NEW OR DIRECTLY FROM THE DEVELOPER PROPERTIES
The following expenses will apply: (ANDALUCIA)
• VAT 10% of the purchase value
• AJD (Documented Legal Acts) 1.5%.
• Management, notary, and registration fees are applicable as detailed above.
The information provided above is offered as a guide to assist sellers and buyers.
This information is subject to change if there is any modification in legislation. Please feel free to contact us for more information.
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