How to Safely Buy Your Dream Home in Costa Blanca-Spain: Discovering and purchasing your dream home in Costa Blanca, Spain, is an exciting journey. To ensure a safe and informed property acquisition, we’ve condensed the essential steps recommended by the Ministry of Public Works, Transport, and Housing in collaboration with the Association of Spanish Property and Commercial Registrars. This comprehensive guide not only guarantees a seamless process but also empowers you to make informed decisions.
Critical Documentation for a Worry-Free Purchase
The Foundation of Your Investment” When considering buying a property in Spain, ensure you have these critical documents:
- Construction permit and certificate verifying compliance with town council approvals.
- First occupancy license, habitability certificate, and other necessary authorizations.
- Documents from utility providers (electricity, water, gas, and telephone).
- Property registration entry, along with insurance covering hidden defects.
Navigating the Legal Landscape
For a secure purchase, make sure to obtain:
- Property Registration Certificate outlining the legal status.
- Owners Association Statutes or deeds for new, finished, and horizontally-divided buildings.
Additional Recommendations for New Constructions and Existing Homes
New Constructions Checklist, For new constructions, request:
- Certificate from the Commercial Registry verifying the developer’s legal existence.
- Details of the company’s registration, administrators, and absence of legal issues.
Existing Homes Checklist
If the property is not newly built, ask for:
- Last year’s property tax receipt.
- Certificate from the Owners Association confirming payment status.
- Confirmation that the property is not subject to rental contracts.
Steps to a Secure Property Purchase
Verify Legal Position via the Property Registry
Before making a move, check the legal position of the property through the Property Registry.
Request informative notes, ownership certificates, and explanatory reports.
Study Mortgage Charges
Beyond legal requirements, scrutinize existing mortgages. Request a bank certificate for the outstanding amount and negotiate favorable terms.
Visit a Notary for the Purchase and Sale
Consult with a notary for an independent overview and to formalize the sale in a public deed. The public deed is crucial for Property Register registration.
Ensure Proper Tax Payments
Understand and fulfill tax obligations, including VAT for new properties and Capital Transfer Tax for used ones. Pay the Tax on Documented Legal Acts for mortgage transactions.
Register as Property Owner
After the sale, register your property at the corresponding Property Registry for full protection.
How to Safely Buy Your Dream Home in Costa Blanca-Spain-Conclusion:
Embarking on the journey of purchasing a house in Costa Blanca is indeed a simple and secure procedure, provided you follow these steps diligently. For further information and personalized assistance, feel free to contact us.