LEGAL INFO
When buying property in Spain you will require an NIE number (National Insurance Number). These are obtained from the local police station. We recommend that you give your solicitor Power of Attorney. Once registered your solicitor can collect your NIE certificate on your behalf.
Whenever buying a property we would always recommend independent legal representation. There are a number of local solicitors that speak many languages including English. If you do not want to keep flying back to Spain during the buying process we would recommend you grant your solicitor Power of Attorney. With POA your solicitor can obtain your NIE number, open a bank account and also set up your utilities. The solicitor will only action anything once they have written approval by you. The costs of a solicitor varies between 1% - 1.5% of the purchase price with a minimum fee of €1000 - €1,500.
BANKS
You will need to open a Spanish bank account when buying a property. We have negotiated free banking and other special offers which are exclusive to our customers with one of the biggest banks in Murcia, Spain. However you are always free to use whichever bank suits you best.
If you decide you would like to apply for a Spanish mortgage, we can help you. There are currently some fantastic offers with various banks. In general a non resident can receive a 60% - 70% mortgage.
account_balanceCOMPLETION
It normally takes five to eight weeks from the time of your deposit being paid to completion. If you are taking out a Spanish mortgage then you should add two more weeks. If you have gave your solicitor power of attorney you do not need to be present for the completion.
Once you have your keys we can give you guidance on local key holders. Your keys holders will look after your property offer cleans, laundry services and general maintenance.
Andrew Brown remains at your disposal after completion. Maybe you would like a new swimming pool, extension, etc we can give you recommendations on the best local builders.
If you decide to rent out your property for holiday rentals we can help. We have vast experience to maximize your properties potential.
vpn_keyRUNNING COSTS
The costs of running a property will vary from one property to another. To give you a better idea on costs, below is an approximate guide for an apartment. Please Note that the community fees stated on our website are for guide purposes only, they could be more or less. You can find out the exact fees via your solicitor.
Apartment Monthly Running Costs
€120 - Community fees
€60 - Standard charges for Gas, Electric and Water
Apartment Annual Costs
€250 - Key holder fees
€250 - Council Tax
€200 - Insurance
Total for the year €2.860
ANYTHING ELSE?
We are here to help you make an informed decision before buying your dream property.
Even though we have covered the majority of question we are frequently asked there may be something we missed. If you have any questions regarding the buying process please do not hesitate to contact us