1. How does the property purchase process work?
If you decide to buy a property in Spain, we'll first work together to clarify the criteria the property should meet and the amount you'd like to invest. We can give you well-informed advice on this, as we have been active on the Spanish property market since 1996. You'll receive a preliminary offer from us, after which we'll agree on a date for you to fly out in person for viewings. If you need help arranging flights, accommodation, transport, etc., we'll help you sort it out. You'll then go on viewings with a Czech- or Slovak-speaking representative (depending on the chosen area), who will also give you further detailed information not only about the properties you see, but also about the location. If you choose a property from the offer, we'll arrange the preparation of documents from the seller and put you in touch with a law firm in the given location, where we always have a Czech-speaking person who will handle the entire process. After the basic parameters have been verified (checking the Nota Simple – the land registry record), you will be asked to pay a reservation deposit, which serves to take the property off the market so it is no longer offered to other interested buyers. The law firm will then carry out a detailed check of all the documentation and prepare the purchase contract in cooperation with the seller's lawyer. It will also take care of obtaining your NIE and, if necessary, opening a bank account.
The purchase contract is signed before a notary. Payment is usually made by cheque from your account at a Spanish bank (in the case of an older property), or by transfer to an escrow account (in the case of a new build). On the day the purchase contract is signed, you become the owner of the property. The notary then carries out a further check and registers the property in the land registry.
2. What is an NIE?
An NIE (Número de Identificación de Extranjero) is a foreigner's identification number required by the Spanish Ministry of the Interior. This number is required for all transactions related to buying and using a property (registering with authorities, taxes, transferring utilities, etc.)
3. How long does the whole purchase process take, from paying the reservation deposit to signing before the notary?
The usual timeframe is 4–8 weeks.
4. Can I buy a property remotely? Do I need to be present when the purchase contract is signed?
You can be represented in everything by a Spanish law firm (its representative) on the basis of a power of attorney. This must be drawn up in Spain (or at the Spanish consulate in Prague) and notarised. This is usually done at the very start of the process, when the reservation is signed, after which the law firm handles everything on your behalf.
5. What other fees are involved in buying a property?
When buying a property, you need to allow for additional fees such as the property transfer tax on older properties (7–10% of the price, depending on the location), or IVA (VAT) of 10% for new builds. There are also legal and notary fees and land registry fees – approximately 3–4%.
6. What obligations do I have as the owner of a property in Spain?
You must pay property tax once a year by direct debit from your account, waste collection tax once a year by direct debit, file Modelo 210 – the non-resident tax return – and, if you rent out the apartment, also file an income tax return. All of this can be arranged by the law firm or by a Czech-speaking tax advisor we recommend (depending on the location). In addition, community fees are payable (where there are shared facilities such as a pool, garden, hallways, etc.) and utility payments.
7. What about renting out the property? What is required for that?
A licence is required for short-term rentals (of the Airbnb type). Medium- and long-term rentals are unrestricted. However, rules vary from location to location, there is no unified legislation, and these rules often change. We will give you more detailed information about the rules in specific locations, based on the current situation, during a personal conversation right at the start of our discussions, so you can make your decision accordingly.
8. What commission do you charge?
We do not charge any commission – the commission is paid by the seller or, where applicable, the developer. The sale price is always the same and is not increased by a commission, so if, for example, you buy a property directly from a developer, the price does not change; you simply have more to arrange yourself in terms of the other services that we can otherwise provide for you.
9. I don't speak Spanish or English – how will I communicate?
In the locations where we offer properties (Costa Blanca, Costa del Sol, Costa Cálida, Almería, Mallorca, the Canary Islands and others), we have Czech-speaking representatives who are available to you at all times and whom you can contact whenever you need. They can also recommend other Czech-speaking services (tax advisors, tradesmen, etc.)