VillaSpain Financial and Legal Advice
Buying a property abroad is a significant investment, always be in expert hands
Once found a property we recommend to select a financial advisor and a solicitor, freely chosen or from our multilingual directories. They supervise the whole purchase process and provide all the support about similarities and differences in Spanish banking and laws, in clear clients language.
The financial advisor
Helps to examine the current financial status and establish together the first step before acquiring any commitment: the purchase budget. He double checks all figures and conditions of the purchase before clients access their bank or a local one where to apply for a mortgage or an equity release, if needed. He guides them for all needs related to money transfers or introduce an agent for the due.
The solicitor
He will contact the clients country tax advisor explaining the main differences of Spanish laws. He cares on every aspect on the required legal and commercial paperwork: NIE, residence permissions, contracts and release of funds transferred to the owner or builder, etc.
The process
The buying process is relatively simple involving payment of a holding deposit (taking the property out of the market), intermediate payments and the outstanding balance on completion. Completion involves signing an Escritura de Compraventa (Exchange of Title Deeds) at the Notary and subsequent steps and costs for the new owner, that normally represent an additional 10% over the nominal purchase price of the property, including all taxes and fees. If needed, we also have the best contacts for complementary services to the purchase as money transfers and insurances.
VillaSpain prepared a very good downladable guide about STEPS TO BUY A PROPERTY IN SPAIN, and we suggest to download it to your HD and read before starting any purchase process and even a viewing trip.
Other tools
On the right top of every page of this web site there are useful financial tools. The Currency Converter gives you instantly up to date equivalent in your money of any local price, including historical trends and forecasts. The Mortgage Calculator offers you not only the usual mortgage monthly payment calculations using different variables but several approache. These tools pop up in new windows to remain available during your visit to this web site but, coming from third parties we can't be legally responsible of their accuracy.
