Guide to Buying Property In Spain for Foreigners

Guide to Buying Property In Spain for Foreigners, a must read from our English Speaking lawyers, Spanish local experts in Property Law.
Article Published: 19 Dec, 2018, Updated: 22 Nov, 2022

The process of buying property in Spain typically creates many questions and concerns for foreign citizens, especially if they are not used to the Spanish system and regulations.

There are many details to be dealt with during the process: not only making sure that the property is free of any mortgages or other charges, but also other details which could be considered minor but may be relevant in the future, such as checking that there are no disputes or judicial or administrative proceedings which could affect the property or its possession.

Our local lawyer José explains more here:

 

What are the tax implications for foreigners buying property in Spain?

Tax implications are also to be taken into account when buying a property as a foreigner in Spain - not only regarding the IVA (equivalent to VAT), or ITP (the transmission tax if buying a resale property) - approximately 10% of whatever the value of the property is in each case. We should also make sure that local taxes payable each year to the local Council are also up to date, and that there are no pending debts, because this situation could affect the property in the future. You can find more details here on property taxes in Spain.

In those specific cases when the seller of the property is also a non-resident, then the buyer is obliged to make certain retentions from the total price, and pay those amounts directly to the Spanish tax authorities on the behalf of the seller, mainly as an advance on the seller’s capital gains. The main retention to be made is equivalent to 3% of the total purchase price.

Are there any debts owed to the Community of Owners?

Finally, it is also relevant to confirm that at the time of signing the property deeds there are no debts pending to the Community of Owners: those debts could affect the property too. In order to avoid any issues, it is recommended to obtain a certificate issued by the Community showing that the property is free of any debts; and a copy of this certificate would be attached to the purchase deeds.

An independent English-speaking legal advisor will help you avoid any problems with these issues. With proper assistance, buying property in Spain for foreigners should not result in any problems.

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Service Details

Property Purchase

This service is available across Spain

Who Is This Service For?

Buying property abroad is a very popular activity but can be fraught with dangers.

Given that the purchase of a property is one of the most important investments that most people will make in their lifetime, it is crucial to be advised by an independent expert.

What Does This Service Consist Of?

  • Review of the purchase contract.
  • Management of negotiations and counter-offers.
  • Verification that the seller is able to pass good title.
  • Registry search to ensure property free of any charges or other mortgages.
  • Ensure outstanding taxes on the property are up-to-date before transfer.
  • Make sure that all items included in the sale (fixtures and fittings etc.).
  • Attendance and assistance when signing the deeds of the property.
  • Management of negotiations and counter-offers
  • In depth information about schools, sports clubs, shops, cultural organisations, etc.
  • Payment of stamp duty.

Free Support Services Included

When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include:

  • Verification of the regulatory status of your professional.
  • Fees as recommended by the Local Professional Body
  • Fees specified in advance and legally guaranteed.
  • Service levels agreed in advance and guaranteed.
  • All professionals must hold professional indemnity insurance.
  • Professionals' proficiency in English monitored.
  • Continuous quality controls and reviews.

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