HOW TO BUY PROPERTY IN SPAIN FROM THE UK
IHere is a detailed step-by-step guide on how to buy a house in Marbella, Spain from the UK:
- Research the real estate market in Marbella and determine your budget and preferences.
- Hire a real estate agent to assist with the property search and purchase process.
- Obtain a tax identification number (NIE) from the Spanish authorities, which is required for all legal transactions in Spain, including property purchases.
- Research and compare mortgage options from Spanish and UK banks. If you are a non-resident in Spain, you may be required to provide a larger down payment and may have to pay higher interest rates.
- Find a property that meets your criteria and make an offer through your real estate agent.
- Once the offer is accepted, sign a private purchase contract (contrato privado de compraventa) with the seller, outlining the terms of the sale.
- Pay a deposit to secure the property.
- Hire a lawyer to handle the legal aspects of the property purchase, including conducting due diligence on the property and representing you in the transaction.
- Obtain any necessary approvals or permits, such as planning permission or building certificates.
- Pay the purchase price and any applicable taxes, such as the purchase tax (impuesto sobre la compraventa de inmuebles) and notary fees.
- Register the property in your name at the Land Registry (Registro de la Propiedad).
- Obtain any necessary insurance, such as homeowner’s insurance.
It is recommended to work with a real estate agent and legal and financial professionals to ensure that the property purchase process goes smoothly and to understand all of the costs and requirements involved
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