Step by step to buy a house in Spain

If you have decided that it is time to buy your new home, this step-by-step to buy a home will help you do it safely so that you can make the transaction correctly.

Before you start your housing search

Before looking for a home, it is important to be clear about some essential aspects such as budget and location.

Define the characteristics

The necessary characteristics of your house must be clear. If possible, make a list of essential elements , such as the number of rooms or that it has a garage.

In which area do you want to live?

The place where your future home will be located is something that will largely determine the housing options that you will find and their price.

It is necessary to analyze if it is close to the workplace, the services and leisure areas that it has, health centers and schools.

What is your budget

To confirm if the previously chosen features and location are viable based on the price or not it is necessary to calculate a budget.

It must also be taken into account if you have savings or are going to request financing from a bank, since mortgage loans do not usually reach the total price of the home.

Buying a new or second-hand house

Evaluate if you want a new home or you do not care if it is second-hand.

Real estate or private

Usually it is thought that making the transaction between individuals will be cheaper since the real estate fees will not have to be paid. However, it involves a greater risk and even more in case you do not have knowledge about legislation or mortgages.

What to consider before buying a house

Once the characteristics, location and budget of the house have been established, it is time to start looking for the best options, compare them and make visits.

Investigate the area

If you do not know the area, it is advisable to investigate it and ask the neighbors for the most important questions.

Compare offers

Calculate a market price of homes in the chosen location and compare the different existing offers.

Make visits

Identify the homes that meet all the precisely established requirements and visit them. It is essential to thoroughly inspect the entire property to check its condition and damage as well as noise and odors.

Step by step to buy a home

Once the home has been chosen, the most common and recommended steps for its purchase are the following:

Make an offer

When you have found the home you want to buy, make an offer to the seller, which may or may not be equal to the sale price . Negotiation will begin and an agreement will be reached.

Know the state of the house

The seller must inform the buyer of the administrative status of the property regarding non-payments and other charges .

Earnest money contract

Through the deposit contract, the operation is sealed, with the buyer paying a part as a down payment, normally between 5% and 15%, and establishing a maximum period to carry out the operation.

Financing search

This point will only be necessary in the event that financing from a bank is needed to face the payment of the house.

For this, you will have to go to different banks to negotiate conditions and choose the option that best suits you.

Purchase and public deed

The buying and selling parties attend the signature before a notary . First, the mortgage is signed, if there is one, and then the public deed of the house is signed.

The agency will be in charge of presenting the deed in the Property Registry to manage the change of ownership of the property .

Tax payment

When the purchase of a home is carried out, it is necessary to face certain taxes and expenses.

In the case of the buyer , he will have to pay:

Property Transfer Tax, the amount of which will depend on the Autonomous Community in which the home is located. For young people it is 8% and there are exceptions for large families and people with disabilities.
Real Estate Tax . Although the first year the shared payment can be agreed with the seller, this tax is the responsibility of the buyer.
Other expenses . The fees of the notary, the Property Registry and the agency are borne by the buyer.

The seller will have to take charge of the payment of the Plusvalía , which must be paid to the Town Hall of the town where the property is located.

The step by step to buy a home begins with the definition of the necessary characteristics that it must have, the preferred location and the maximum budget to spend on your purchase. After an investigation of the area, offers are compared and the pertinent visits are made. Once the home is chosen, an offer is made to the buyer and, after the agreement, the deposit contract is signed first. Subsequently, the search for financing will be made and the deeds will be signed before a notary.

Further information

This article is part of our service Real Estate Lawyer. Visit this section where you will find all the useful information on this topic, including a complete guide on How to buy a house in Spain.

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