Wenche K&MPurchasing Property in Spain
Once you have chosen the property that you feel is right for you there are various stages to follow to purchase the property.
You will need to put down a deposit on this property (which is usually 5,000 euros) and sign a contract that will be prepared and explained to you in full. This will then secure the property and we will discontinue advertising it.
You can decide if you would like to open a bank account in Spain or alternatively you can simply use an online European banking system. If you choose to open an account in Spain, you will be accompanied to the bank by one of us as we feel this makes the process less daunting. We recommend our clients to Sabadell Bank. All the staff speak English and you will receive all correspondence in English too.
It is then advisable to meet an asesor/fiscal advisor in Spain, we can recommend an independent asesor that we can highly recommend and can guide you through the necessary legal information regarding the purchase of your property and the costs involved.
We also highly recommend that you use Currencies Direct to move your money back and forth as this will save you a lot of money on bank fees and exchange rates etc. For more information about this, click here.
We do not expect you to remember everything you have to do, which is why we are here. This is just a guide to the whole process. Please do not hesitate to ask us any questions if you’re unsure about anything.
If you are considering having a mortgage then it is necessary to add mortgage fees to the property as there are added expenses from the bank. These expenses will be discussed at the time of opening a bank account and collecting an application form.
