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hi all, i am heading out to Spain at the end of the week to look at some property’s, myself and the wife are thinking of a country property for regular visits initially 4 to5 times a year 3 to 4 weeks at a time, we have a property in mind the agent says that we should expect to pay 4 to 5 thousand euros depending on the price of the property for solicitors and tax’s that sort of thing ( we are only looking for a house for around 70,000 euros) what other costs or taxes would i have to pay say over the following 12 months, i have read somewhere that i would be liable for wealth tax and have to fill in a income tax’s form even though i am not resident in Spain, and other things i could be liable for, sorry it a bit long winded but i do not like going in to things blind
cheersDavee -
The first item on your agenda is to get a lawyer in the area you wish to purchase. There is a list on this website. Then read some of the topics discussed to find out some of the pitfalls. Make sure what you want to buy is a legal property and that the sellers are entitled to sell it to you. Do not use a lawyer that the realtor suggests – get your own. Remember this is not the UK – the rules in Spain are very different.
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The first item on your agenda is to get a lawyer in the area you wish to purchase. There is a list on this website. Then read some of the topics discussed to find out some of the pitfalls. Make sure what you want to buy is a legal property and that the sellers are entitled to sell it to you. Do not use a lawyer that the realtor suggests – get your own. Remember this is not the UK – the rules in Spain are very different.
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All good advice from Mexberry. I’ll just add to it a bit.
I can’t stress this enough. Take time and do your research.
You are in no hurry. Prices have been falling for at least four years and look set to continue to do so for at least another year, probably longer. You will no doubt have agents, just as I did three years ago, telling you ‘now is the best time to buy’, ‘prices won’t get lower’, etc, etc. This is, quite frankly cobblers.
There are many pitfalls, particularly with rural properties. Before you start the buying process, try reading ‘You and the Law in Spain’ by David Searl. You can get a copy On Amazon.
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All good advice from Mexberry. I’ll just add to it a bit.
I can’t stress this enough. Take time and do your research.
You are in no hurry. Prices have been falling for at least four years and look set to continue to do so for at least another year, probably longer. You will no doubt have agents, just as I did three years ago, telling you ‘now is the best time to buy’, ‘prices won’t get lower’, etc, etc. This is, quite frankly cobblers.
There are many pitfalls, particularly with rural properties. Before you start the buying process, try reading ‘You and the Law in Spain’ by David Searl. You can get a copy On Amazon.
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