PURCHASE PROCESS
Advantages of buying with Montesinos Real Estate
❃ We are a family agency, where we have all worked together since 1989 to offer a personalized, professional service where you feel welcomed and guided.
❃ We are a multilingual team always ready to assist sellers and clients. We speak Spanish, English, French, and German.
❃ We help you find your property by leveraging our experience, contacts, and network of partners.
❃ We are a professional team with high ethical standards, and we guarantee a successful purchase by prioritizing your interests and supporting you throughout the entire buying process.
❃ If necessary, you can appoint us to legally represent you, for procedures and paperwork, so you can manage your entire purchase process through a single point of contact.
❃ If you are a non-resident, we can even help you file your future taxes and obtain licenses, among many other procedures.
❃We are a dedicated team that will always be available, even after your purchase, to answer any questions you may have!
Let us guide you through your purchase.
We have the expertise to support you throughout the entire property buying process, from searching for your ideal home to signing the deed at the notary’s office. And if you’d like, we can help you even further!
We know the Costa Blanca
- We are an agency founded in 1989 with experience and a strong reputation in Moraira.
- We know the North Costa Blanca and will advise you on the different areas and market prices in each.
We help you with your search
- We have experience in property search and collaborators throughout the Costa Blanca to help you find your dream home.
- You will have a single point of contact who will make you proposals, help you decide, manage property viewings, etc.
- We offer virtual tours for clients who are not in the region.
We understand your needs
- More than 1,500 clients have purchased homes with us. Tell us your requirements and let us advise and assist you.
- We will recommend what best suits your lifestyle, needs, interests, and budget.
We support you with your offers
- We support you in presenting your offers and in negotiating them.
- We will guide you through all the necessary procedures and contracts for your purchase, up to the signing at the notary’s office.
We offer a variety of real estate services.
We provide diverse services to support you throughout your purchase and provide ongoing assistance.
- We offer advice on the expenses and taxes involved in the purchase and the payment deadlines.
- We handle post-purchase procedures such as transferring ownership and setting up direct debits for utilities.
- We collaborate with trusted professionals for the maintenance of your property, including cleaning, gardening, pool maintenance, and more.
- We also manage other processes such as obtaining certificates (Energy Performance Certificate, Second Occupancy Certificate, Urban Planning Compliance Certificate, Tourist Accommodation Number, etc.).
- We manage year-round and long-term rentals.
We handle procedures for non-residents.
• We advise and guide you in obtaining the necessary documentation for your property purchase.
• We collaborate with professionals and agencies for currency transfers to Spain, opening bank accounts, and obtaining mortgages.
• We collaborate with professionals to support you in obtaining the necessary documentation for your purchase and relocation to Spain: obtaining your NIE (Foreigner Identification Number), residency permit, vehicle registration changes, etc.
• We file annual tax returns for non-residents with properties in Spain.
• We file tax returns for tax residents with properties abroad.
• We provide representation for tax procedures and dealings with public and private entities such as the Tax Agency, City Halls, Property Tax (SUMA), Community Associations, water and electricity companies, etc.
• We handle other procedures related to your property in Spain: Wills, Inheritance Acceptances, Donations, etc.
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Things to keep in mind
Seek Professionals:
- The real estate market attracts scammers and dishonest intermediaries who try to take advantage of both buyers and sellers.
Use real estate agencies with experience in the area, lawyers, or notaries for your transactions.
- Procedures in Spain are different than in other countries, even in Europe, and you shouldn’t handle them yourself. There are various agencies that need to be verified and checked: notary, property registry, land registry, town hall, taxes, etc.
It’s best to work with a real estate expert to carry out the necessary checks before buying or selling.
First Steps Before Buying:
- To buy property in Spain, it’s essential to obtain an NIE (Foreigner Identification Number). Use the support of a local agent to obtain it.
- For purchases, you can only pay with money originating from the European Union.
Notaries and sellers, by law, do not accept money from countries outside the European Union or tax havens. Therefore, if this applies to you, you will need to open a bank account in Spain and submit the documentation requested by the bank. Transfer the money to this account in Spain, and then you will be able to make the purchase.
Purchase expenses:
Remember that immediately after the purchase, you will have to pay the taxes and purchase expenses.
- 10% tax on resale property purchases
- 10% tax on new property purchases
- 10% or 21% tax, plus 2% for legal acts on land parcels
- Notary, registry, and title transfer fees.
Your manager or representative will explain all the details of the purchase process, the required documentation, the applicable tax rates, and who to pay and how to pay these expenses.
If you are looking for experience in managing your purchase, come and buy with us! We will help you in your search and take care of everything!
The buying process
Once you have chosen the house you wish to buy and agreed a price with the seller, you should begin the buying process.
RESERVATION —–> DEPOSIT AGREEMENT —–> SIGNING AT THE SOLICITOR’S OFFICE
RESERVATION
The reservation payment is usually deposited and held in trust by the estate agent, who will issue a reservation document in return. This reservation will not be transferred to the seller until all legal checks have been completed.
At this stage, you should seek a representative, an estate agent or a solicitor to assist you with your purchase, review the documentation for the property you are buying, and also help you prepare your own documentation and plan your payments.
DEPOSIT AGREEMENT
Once the property documents have been reviewed, the buyer and seller agree on deadlines, payments and costs to be incurred by each party, and sign the so-called Deposit Agreement by mutual consent. In Spain, this is usually accompanied by a payment of 10% of the property’s value (minus the value of the deposit already paid). This percentage may vary depending on the terms of the agreement reached. This payment is usually paid directly to the seller.
SIGNING AT THE NOTARY
On the day of signing, either you or your representative must attend. You must have the remaining 90% payment ready. At this point, you will be handed the keys to the property.
At Montesinos Falcón Real Estate we can assist you throughout the entire buying process: from helping you find your property to acting as your agents. This means you can handle the entire process, including any follow-up procedures, through a single point of contact.
More information on the buying process: Buying process
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