Now that the summer holidays are officially over, and autumn begins to creep in, can you really be blamed for spending your free time daydreaming about a place in the sun?Apparently, you are not alone, as according to official figures, the number of UK citizens searching for overseas homes has spiked by 17% during the last five weeks.Spain came out on top on the list of the 10 most searched for overseas locations, with other locations including Canada and the U.S.
Website traffic also indicated that many prospective buyers were aiming high with popular search terms including “pool”, “beach” and “sea view”.Obviously, we all know that holidaying somewhere isn’t the same thing as living there, so it’s a good idea to take certain steps if you’re planning on making a permanent move.Step 1: Do your researchIt’s unlikely you would buy a property in a different country without doing some sort of research, but it’s important you have a good search around the internet or talk to local property experts like Marena Murray.You should also look for a solicitor with a good reputation – and crucially – can speak both English and Spanish fluently.Step 2 Sign the Private ContractOnce you have chosen your home and all the appropriate checks have been performed by yourself and your solicitor, you will need to sign the private contract. The private contract isn’t logged on an official registry, but it is considered to be legally binding, so make sure your solicitor has gone over the contents with you in detail. You will also have to pay a deposit, which you will lose if you break the contract.
Step 3 Obtain NIE
It’s vital that you ensure you obtain an NIE during the process. The Número de Identificación de Extranjeros means you will be registered with the Spanish Tax authorities.
Obviously, you can’t constantly be jetting between home and Spain. It’s possible to give someone in Spain the power of attorney to obtain the status for you.
Step 4: Sign the Title Deed
The title deed needs to be signed at the Notary’s office. You will also make the final payment and receive the keys.
Once the deed has been signed, the property will be registered at the land registry and the utility companies will be informed by your lawyer of the change of ownership and bank details.
Step 5: Make Sure Everything is In Order
You should now start to round everything off. Firstly, you should pay any outstanding bills, for example, your solicitor will need to be paid.
Next, you should make sure you register for the correct taxes. All non-residents and residents in Spain must pay IBI council tax. Non-residents must also pay imputed income tax in Spain.
Step 6: Enjoy!
You now own your own little slice of Spanish heaven! Now you can take some time to relax and enjoy the sun and local culture.
If you are interested in buying property in Spain, get in touch with Marena Murray today for a free Information Pack. Give us a call today on +34 968 175 087
