You can’t take a loan in your country with the Spanish property as security; however, you can mortgage your property at home to purchase the property in Spain. Another solution is to take a mortgage in a Spanish bank with the properties as a security for the mortgages.  

In addition to the purchase price, you should be aware of that there are a few another fees and taxes, about 10-14% in supplementary costs.

In Spain you pay a council property tax and a national property tax, both based on the taxable value. The council tax varies between different councils and is between 0.4-1.1% and the state tax is between 0.25-0.5%.

In Spain, resale homes are sold in "existing condition". As a buyer, you are responsible for examining the property before you sign the purchase contract.

When buying a property in Spain, following payments terms will usually be applied.

First a reservation fee is paid and a reservation agreement is established. In relation with the signing of a purchase contract, you also pay a down payment (deposit), usually 10% of the purchase price.

When purchasing a new build property, a reservation agreement is made directly with the developer and you normally pay a reservation fee of 3,000 - 6,000 €.

The community fee (comunidad) includes cleaning and maintenance of the common areas such as pool and garden.

The ongoing costs are naturally dependent on what sort of property you own and how much you use it. The costs include community fee, electricity, water, home insurance and property tax. Ongoing costs are easiest paid via autogiro from your Spanish bank account.

An important thing to keep in mind is that all properties in Spain has its own title deed, including parking space and storage space. There are also few restrictions on what you can do with your home when it comes to renovations or rentals.

If you have thought about renting out your property, then it is vitally important to know the rules on renting out a property in the area you want to buy in. The rules apply differently in different areas. Some areas have banned rentals completely, and other areas require a licence.

We have several serious contacts within rental service. They help you to take care of the rental process in exchange for a fixed fee. 

The first thing we would like to see are all the documents for the property - such as the title deed, nota simple, energy certificate, latest electricity and water bill as well as community fee and IBI (property tax). The reason for this is that we need to check so that all documents are correct and that everything is registered correctly. 

We then book a meeting where we come and visit your home and make an evaluation of it. After that, we sign a contract where we agree that HusmanHagberg advertise the property, what price, the commission and other details important when you sell your home. When this is done, we photograph the home and then we publish it on our website, other marketing sites we work with, other digital channels such as social media and match your home with our customer register.

Notarius publicus is an officially appointed lawyer with responsibility for checking the identity of the seller and the buyer. The Notary informs of any debts associated with the property, ensures that the payment is correct in Spanish law and that the seller has received it before the contract is signed. The Notary also creates the purchase letter which is the basis for your application for the deeds.

The NIE number is a Spanish tax identification number that you need to open a bank account and to sign the deeds. The number is a condition of being able to own a property in Spain and an application can be made with the Spanish police, Spanish embassy, or at your local consulate. A representative with power of attorney can make the application. 

If you are interested in a specific residential area, a property or want to know more about the buying or selling process. Please feel free to get in touch with us with any queries, questions or concerns you have about any aspect of purchasing or selling a property in Spain.