Before committing to buying a property you should ensure that pre-contract enquiries and searches are carried out. This will safeguard your investment and ensure a trouble-free conveyance.

We work closely with various independent legal firms throughout Spain who will give you expert advice when buying property under Spanish Law.

Registration
Prior to having your deeds registered at the Land Registry you must apply for registration as a non-national (Identification Number for Non-nationals). This is a mere formality for which you only require a certified copy of your passport and a signed application form. You will require this identification number for non-nationals should you wish to open a Spanish bank account.

Registration of your deeds at the Land Registry usually takes six to seven weeks from the date on which the deed was signed before the Notary Public.

Proof of registration is unequivocal proof of title, and that title is guaranteed by the Land Registry.

Fees and Outlays
Fees and outlays/disbursements entailed in any property purchase will amount to around 9.5% of the purchase price. Approximately 7.5% goes towards taxes on the transaction or stamp duty. The remainder covers notary's fees (in Spain all deeds must be attested by a Notary Public), Land Registry fees and solicitor fees. The only exception is the first time transfer of development land (a site) by a developer, in which case you would be required to pay 16% VAT in addition to the Notary's fees, Land Registration fee and lawyer's fees.

Making a will
It is always advisable to make a will in Spain in respect of your assets and property in this country. Making a will facilitates future probate proceedings and reduces expenses. Drafting and signing a will is a simple and inexpensive procedure.

Thousands of property transactions take place each year throughout Spain. In the vast majority of cases these transactions prove to be an excellent investment, bringing many advantages to the investor, provided that the procedures and formalities are properly handled and supervised by a solicitor. Your solicitor will answer all your queries and ensure that risks are kept to a minimum.

All this might seem daunting but we, along with independent solicitors, will carefully guide you through each stage ensuring you make the right decisions.

At Locations 4 u over the past few months we have been asked many times about bank repossessions in Spain and Distressed property in Spain along with questions about repossessed property in Spain from townhouses to villas and whether we had any for sale.

There has recently been an increase in potential buyers looking for distressed properties in Spain or bank repossessions in Spain, this is understandable because of the large discounts offered off the price of these properties as featured on our site.

So if you are looking to buy a distressed property in Spain or a bank repossession property in Spain with the guarantee of no mortgage to pay for 3 years on your distressed property in Spain then let Locations 4 u point you in the right direction.