What do I need to buy a property in spain?
You need a Spanish tax identification number (NIE) and a Spanish bank account. We explain you how to do it!
Is it possible to buy or sell property in valencia without having to travel?
Yes, it is possible thanks to new technologies and our advice. Some of our clients already do this.
Is there a time limit to finalise the purchase and sale process?
No, there is no legal time limit established, it can be adapted to the time requirements of the buyer or seller. However, neither party involved is keen to wait too long.
How much does it cost to buy a property in valencia? and to sell?
When you buy, you pay the transfer tax that differs in each Spanish Community. It is 10% in the Valencian Community.
When you sell, you pay the capital gains tax, which is a municipal tax. We will discuss this with you when we meet!
And after buying… who looks after my property?
We take care of all your needs. Should you need to renovate, rent, or check the condition of your property? Have a look at our section “Property Management”!
Do I have to pay any taxes, even if I am not going to rent the property?
Yes, you have to file a non-resident income tax return even if you don’t rent it, but of course the tax is far lower if you don’t rent the property than if you do.
Do I need home insurance?
We advise you do. It is very likely that the bank will offer you one when you open your Spanish bank account or if you ask for financing.
What expenses will I have once I buy the property?
Once you have bought the property you will have to pay the quarterly community fees and the annual property tax to the town hall. We will tell you more over the phone!
If you need a mortgage… how much can I expect from the spanish banks?
We will tell you over the phone. The amount will vary depending on the economic situation.
How long in advance do I need to hire your services?
Ideally, two months before you want to become an owner. Whether you are planning to be here or want to buy from a distance. The custom property search service takes time and resources and we need to get organised.
Do I have to pay any taxes even if I don’t rent my property?
Yes, you have to file a non-resident tax return, whether you rent your property or not. You also have to pay the Property Tax once a year. Both charges can be debited from your Spanish bank account.
