If you want to buy a property in Altea, these are the steps you should take according to my point of view:
Step 1
Once you find the property that fits your tastes and priorities, you must make an offer.
When a verbal agreement is reached you have to make a security deposit of between € 2,000 and € 10,000, depending on the price of the property.
Sometimes this step is not done and it is agreed between the parties to go directly to the notary.
If you wish, at this point, you can hire a lawyer to help and advise you.
In ABEL MICHELETTI Real Estate the entire process of the sale and delivery of money on account, is guaranteed by a Civil Liability Insurance.
Step 2
Once all the documentation has been checked by two sides
A penitentiary purchase or sale contract is drafted.
Once said contract is signed, the buyer must transfer within 10 days, 10% of the sale value to the seller (discounting what he has given the reservation)
Step 3
Within the deadlines established in the contract, you must go to the Notary elected to complete the operation. (normally choosen by the buyer)
The expenses are:
When selling an individual or company a house in second transmission: it is necessary to add the 10% of ITP (Patrimonial Transfer Tax) that is charged in the Valencian Community.
When is a company selling: it has to add 10% VAT (Value Added Tax) on new homes and 21% on land. (in second hand houses 10% ITP)
In addition, a 1.5% tax of AJD (Documented Legal Acts) must be added.
All this is charged in Notary at the time of the Public Deed
To all this we must add the notary and Register expenses that are approximately 1.5% of the purchase price.
Step 4
Once the transaction is completed, if you wish, ABEL MICHELETTI Real Estate will make all the changes of the holder and direct debit without any cost to the new holder.
AND THIS IS VERY IMPORTANT FOR FOREIGNERS
For any non-resident foreign person in Spain, the Ministry of Interior requires previously obtaining a NIE (Tax Identification Number) for any procedure that is to be carried out (deed of sale, opening of a bank account, etc.)
This procedure must be carried out with the presence of the interested party in a Police Commissioner in Spain or in any Spanish Embassy or Consulate abroad.
If you follow all these simple steps, you can enjoy your new property without any problem or burden.
And remember … if you don’t want to have a bad time, trust professionals !!
YOU WILL NOT PAY MORE, AND IT IS MORE SAFE!
ABEL MICHELETTI
