Spanish Property Information

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Spanish Property for Sale

Looking for Spanish property for sale? Kyero features 68,352 Spanish properties for sale and to rent from 500 agents throughout Spain. Here you'll find the largest independent collection of Spanish property for sale from a wide range of estate agents.

Just follow this link and click on the for sale button on the toolbar.

http://kyero.com/corp/1526

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Spain Without Brits - The Final Frontier

Is there still such a thing as "undiscovered" Spain, or have the British infiltrated every corner? Well, for a long time Extremadura seemed to fit the bill: big, open countryside, beautiful valleys and woods in the southern part, harsh landscapes to the north and - a few ancient towns apart - not much there to spark a buyers' rush.But even here the British are creeping in. The most westerly part of the region is less than three hours from Madrid by road and Iberia flights between Badajoz and the capital have really opened up Extremadura to commuters.

Weekenders and foreigners have followed, drawn by low prices for village properties. It's almost impossible to buy land in the countryside: here, vast estates hold sway. But a three-bedroom house requiring cosmetic work in the villages around Badajoz will cost about £50,000
(€70,000).
Further east, the huge region of Castilla-La Mancha is Spain at its most Spanish. Even in the great city of Toledo foreign residents are a rarity - so much so that the estate agents don't speak English. And out in the sticks you can drive for miles and not see a local, never mind an English expat.Castilla-La Mancha is beautiful and varied and certainly unspoilt, but unless you are used to living in the Scottish Highlands you could find it under-populated.
To the north of Madrid, Castilla y Leon is the cultural heartland of Spain, where the language is purest and the churches and monuments are at their most typically Castillian.This is wheat and wine country, and the small towns to the north might be worth checking out if you never want to hear your native tongue again.
The coastal regions of Galicia, Asturias and Cantabria are reasonable bets - though the amount of rain is similar to that in Britain. There's a Celtic feel to this northern coast, which might help Britons to integrate, but it could feel like relocating to Cornwall or western Ireland.
It's still available but you must get in quickly!
Story from The Telegraph.co.uk

Ok so you've found your dream home, paid your 10% deposit and now its time to go to the Notary to complete the sale. Expect a long wait, I've never been less than 2-3 hours so take some water with you. Not all the offices are air conditioned so it can be hot and sticky!

Ask your agent to obtain a copy of the escritura (title deed) before you go into the main office. Ask the agent to translate each line of the document so you know what to expect.

At my last visit to the Notary in Benidorm he spoke perfect English and translated each line of the document for us but this is not the norm, especially if you are buying property inland.

Expect there could be a lot of people in the office with you and be prepared. There will be your agent, the sellers, your bank manager (if you are buying with a mortgage), their bank manager (if they have an outstanding mortgage on the property), the Notary and his assistant.

When the Notary leaves the office and its time to pay the black money over, make sure your agent assists you in this exercise.

Obtain a simple copy of the escritura before you leave the office, you will not receive the completed document until the taxes and registrations have been made, this usually takes around 6 months.

Next post will tell you about arranging payments for all the services to the property.

Many estate agents and developers in Spain offer for sale new developments where you are selecting a property to purchase from the Architect's drawing and therefore buying 'offplan'.

Actually from an investment viewpoint it's a sound way to buy, by the time the property is ready for occupation, you can usually expect the real estate value to have increased by around 30%.

One thing to bear in mind if you are advised of a completion date, make sure you add another year to that date. Very few developments complete on schedule.

In addition ensure that the development is guaranteed by a Spanish bank and in the event of the developer going belly up, your money is safe.

Many developers also include penalty clauses for late completion, it is usual that they will pay a fixed percentage each month to cover the delay. In theory it is to pay for you to afford rental accommodation for the time of the delay.

More info to come.

You will soon learn that when you have picked your home in the sun, the taxes that you can expect to pay will be around 10% of the declared value of the property.

These taxes are made up of 7% tax, 2% Notary fees and the remainder on registry fees etc.

The declared value is the value which will appear on the deeds (escritura), however the Spanish do not like to pay taxes on the full value of the house and usually only declare around 70% of the real value on the escritura. The remainder is paid to the seller in cash (black money) and does not appear in any documentation.

You may worry about this procedure and may find if you appoint a solicitor (abogado) he will advise against paying black money.

However as they say when in Rome or Madrid in this case, do as the Spanish do. It is expected and tolerated - our Notary advised us that he had done the same on his house purchase - it is not going to change.

You will save a lot of money on your taxes and as long as you declare at least 70% of the real value, there will be no comebacks.

If it doesn't worry the Spanish ........

OK so you've found your dream home, what happens next. It is normal to pay a reservation or holding fee to the agent, usually around 3 - 5,000 euros.
This holds the property for you until you sign the contract and pay the 10% deposit.
The reservation fee is normally not refundable so if you change your mind, you will lose it.
The agent will expect you to sign the contract and pay the 10% deposit usually within 7 - 10 days after taking out the reservation. So you have to be sure it's the right property for you and be able to move quickly.
It normally then takes around 6 - 8 weeks for the completion of the sale at the Notary.
I'll discuss what happens there later.

If you want to buy a property in Spain or even a car, you must have a NIE no.

This is your fiscal number for future taxes. It is mandatory but not a problem to get. Your agent should be able to get this for you, however don't pay more than 20 euros though.

You can apply direct to the local Police Staion for your number, it is free, but you may have difficulty filling in the form. Let your agent get it for you. You will need 2 passport photos.

If you are buying a property in Spain it is always advisable to engage the services of a spanish speaking solicitor. However you can expect to pay 1 - 2% of the property cost which on a property around 200,000 euros is 2000 - 4000 euros!
This adds a lot to your budget but there is another way.
If you are buying your house with a mortgage from a spanish bank, their legal team will check out the validity of the property, free of charge. They won't lend money on a dodgy property, so you are safe and have saved all that money which I am sure can be put to better uses.

Hi I'm John and I have a lot of experience in the property market in Spain and and would like to pass it on.
Free advice and tips on buying and selling property in Spain from someone who has first hand knowledge of the procedures, having bought and sold land and 3 spanish houses in the last 7 years.
I am sure you will find the posts of interest and watch this space!
If you need specific advice on a particular area please feel free to email me at spanish.info@yahoo.co.uk