Real estate prices in Spain are declining, in some areas they have already dropped by 10%, and if the situation in the world does not change dramatically, apartments, houses and plots will fall in price even more. For potential buyers, this is, of course, a plus, but do not forget that due to the crisis, objects with pitfalls will appear on the market.
In Spain, legal support is a familiar, especially for foreigners, – a lawyer not only acts as a guarantor of the legality and security of the transaction, but also negotiates with the seller, accompanies at all stages, advises on taxes and other practical issues, including opening an account with Spanish bank, money transfer, etc. As a rule, the cost of escort starts from 1% of the price of the object.
Why is it so important (especially now) to check the property before buying?
The competence of a realtor and a notary does not include the obligation to check EVERYTHING. For example, a notary requires proof of payment of municipal taxes for the last year. At the same time, for the previous 4 the object may have a debt, and when the ownership is re-registered, it falls on the HOUSE, and not on the previous owner. This is the Spanish reality.
The realtor and notary will not check what the budget for the next year in the partnership of owners is, and it is not their responsibility to know the plans for the development of your area.
The service includes:
Assistance in opening an account and transferring money to a Spanish account
Assessment of the legality of the operation and the legal purity of the object
Preparation of declarations and subsequent registration of ownership in the Real Estate Register
The service is carried out on a turnkey basis, and if urgent and urgent issues arise, 24 hours a day / 7 days a week we are in touch with you.
Expenses for payment of notary and registration costs for the sale and purchase transaction (about 3,000-4,000 euros)
Payment of ITP tax 10% up to 1 million euros and 11% over 1 million euros
Technical audit of the premises if necessary (builder , engineer or architect)
Other expenses not related to the legal performance of the service.