Buying property abroad involves spending a lot of time and effort. For security reasons, you need to do everything right. All of these steps in the procedure of buying a property in Spain are very important. Let's look at each of them in detail.
Why do I need an agency when buying a home?
First of all, you need to contact an agency that will help you find a suitable object to buy, taking into account your budget, preferences by area and type of real estate. The main task of your agent is to provide detailed information about the best real estate offers in Spain and the city and area you have chosen. Your agent is your reliable contact, expert and trusted person. It is he who will be able to advise you not only the best area and object to buy, but also various specialists in their field: lawyers who speak your language, shops for buying furniture, tell you about local schools, help sign up for a sports club, tell which electrician or plumber to contact.
The procedure for buying real estate in Spain
It is advisable to have your own lawyer living in the area where you will buy real estate. A qualified lawyer will be able to advise you on all issues related to the purchase of real estate in Spain:
- Obtaining a NIE (Foreigner identification number) is necessary to purchase real estate in Spain and pay taxes.
- Opening an account in a Spanish bank is necessary for making payments related to the purchase of real estate, in addition, in the future this account will help pay for electricity, water, bills for the maintenance of the residential complex and local taxes.
To open an account in a Spanish bank, you must provide the following documents:
A foreign passport.
A certificate from the place of residence where you permanently reside. It is enough to show a paid electricity bill or a receipt for payment of taxes for housing.
A letter of recommendation from your bank or a bank statement from which you will make money transfers to Spain.
A certificate of your profession and income. A certificate from work, which indicates your position and salary.
If the documents are submitted to a Spanish bank in English, there is no need for translation. If the documents are in Russian, then you need to make a certified translation. These rules apply to all clients who want to buy property in Spain, whether they are Russians, Spaniards or other nationalities. The idea of the bank is that the bank should know its client and understand where the money is coming from, in accordance with the Anti-Money Laundering Law in force in the European Union.
- Checking real estate in Spain. Your lawyer will check the property you have chosen for purchase in the Property Register, make sure that the property is not mortgaged, there are no debts and legal obstacles to buying real estate.
- Preparation of a contract for the reservation of real estate. The deposit amount is individual and depends on the specific object.
- Request a mortgage (if necessary) to finance the purchase.
- Signature at the notary of the bill of sale and delivery of keys.
- Change of contracts in the name of the new owner for the connection of telephone, water and electricity.
Mortgage for the purchase of real estate in Spain
If the buyer needs a mortgage, it is necessary to provide the following documents:
A certificate from the place of residence where you permanently reside. It is enough to show a paid electricity bill or a receipt for payment of taxes for housing.
A copy of the bank account statement showing the movements on the account for the last 6 months.
A copy of the tax payment certificate for the last 2 years.
A letter of recommendation from your bank, from where you will make money transfers to Spain. The account in this bank must be in the name of the buyer. The letter must contain the codes "SWIFT CODE" and "IBAN".
A certificate from work, where your income is indicated.
Documents on the availability of property.
Credit history.
Many Spanish banks may additionally request an extract from your account in Russia, where the amount you intend to transfer to Spain will be visible.
Banks do this in order to make sure that you are making a purchase with your own money, and have not requested a loan in your country. Otherwise, you would have a loan both in Spain and in Russia for the purchase of the same property.
It is important that these documents are original and translated into Spanish by a licensed translator. The Spanish Consulate will provide you with a list of translators whose translation will be valid, and will also be able to check the translations made.
Schengen multivisa when buying a property in Spain
After buying a property in Spain, for a regular visit to this country, you can request a multivisa at one of the visa centers of the Spanish Consulate. It is necessary to attach documents on property in Spain, an extract from the Register, Nota Simple with your name and the number of the foreigner NIE.
Residence permit in Spain
If you are interested in living more than 186 days a year in Spain, you can request a residence permit without the right to work. Obtaining this permit takes about 6 months. It is necessary to provide a package of documents similar to the one that is required when obtaining a mortgage. In general, you have to prove that you have enough means of livelihood and there is no need to work in Spain.
I hope these tips will help you. In conclusion, I would like to advise all buyers of real estate in Spain to be guided, first of all, by common sense and trust only professionals in their field.
