Steps to buy a condo/home in Spain

Each project is different and the process of buying your main house or a second

home differs significantly from investing as business, in general the phases found in

any real estate operation would consist of the following ones:

Home and Investments in Spain

The phases found in any real estate operation would consist of the following ones:

1. Tax planning and deciding on the legal structure (do you buy in the name of a company, in your own name, together with your spouse or partner, in the name of yourchildren, etc.)

2. Administrative tasks (setting up the planned structure, if any; executing Power of Attorneys, applying for the tax identification codes, opening a bank account, seeking for financing, etc.)

3. Search for a potential purchase property (often simultaneously with the completion of points 1 and 2)

4. Negotiation over the target object(s) identified

5. Reservation agreement or Letter of Intent

6. Conduct of Legal and technical Due Diligence

7. Negotiation of the down payment agreement

8. Execution of the purchase deed before a Spanish Notary

9. Consideration and obtaining of insurance coverage

10. Payment of the Property Transfer Tax or VAT, as applicable

11. Updating the Land Registry

12. Arrangement and contract for utilities and establishment of direct debit facilities

13. Planning for the inheritance of properties

14. Housewarming Party!

#tobuyacondoinSpain #tobuyahouseinSpain #tobuyyourfirsthomeinSpain