(N.I.E. number in Spain means – Numero de Identificacion de Extranjero. It is an identification number for foreign nationals. An NIE number is similar to the UK National Insurance Number. You will require a Spanish N.I.E. number. You cannot buy a house, car or anything substantial in Spain without one.
Under Spanish law you are required to have a Spanish bank account if you are purchasing a property in Spain. This can be done whilst you are here and only takes about half an hour and you can set up your direct debits for water electricity etc.
When dealing with Bank properties a deposit of 3000€ is require to take the Property off the Market, with resale properties A 10% deposit is required immediately to confirm the offer and to take the property off the market. Upon agreement of the seller, a smaller deposit of (3,000euros) can be paid with the remainder of the deposit payable by transfer within 7-10 days.
Once a deposit is paid it is non refundable, and if you do not complete, this deposit is forfeited
Yes! you will need to appoint and instruct a legal representative or solicitor to represent you on your property purchase. It is advisable to meet with them before you leave Spain so that they can explain to you the buying process and legal requirements, as you must supply them with all relevant documentation. It is your legal representative’s responsibility to ensure that all documentation is correct, calculate all taxes to be paid and arrange a notary appointment for the transfer of the title deeds to the buyer.
This is the property owners’ title deed. It is registered at the Property Register (Registro de la Propiedad) and is the only guarantee of title here in Spain. Included within the title deed will be a brief description of the property, the details of the owners and any details on charges that affect the property such as mortgages, rights of way, water wells etc.
Currently around half of European buyers who purchase a property in Spain take out a mortgage through one of the Spanish banks. The rates offered by Spanish banks, tend to be very competitive when compared to other borrowing options such as a re-mortgage, equity release or personal loan in the home country. As rule of thumb, the banks in Spain will lend up to 70% of the purchase price. This lending is, of course, subject to a number of factors including the borrowers age, income, credit history, current financial commitments and the valuation of the property they wish to purchase.
Yes! All you pay for is your flights! As well as your food and drinks whilst you are here in Spain. We arrange collection and your return to either Murcia or Alicante Airport and two nights accommodation in one of the local 4 star Hotels.
The Costa Cálida is the approximately 250 km stretch of Mediterranean coastline of the Spanish province of Murcia. This region has a micro-climate which features comparatively hot mean annual temperatures (and hence its name, "Warm Coast") The Costa Cálida extends from San Pedro de Pinatar the north near the province of Alicante, to near the municipality of Águilas in the south bordering on the region of Almería province. The northern end of this coastline includes the Mar Menor ("Lesser Sea"), a coastal saltwater lagoon which at around 170 km2 is Europe's largest. The Mar Menor is separated from the Mediterranean by a 22 km-long spit of land called La Manga, on which most of the tourism development for the region has been constructed. Cartagena and Mazarrón are two other important coastal towns in the region. Golf is a popular pastime for visitors and residents. There are many PGA championship courses such as El Valle which hosted the PGA European Seniors Tour in June 2011, Hacienda del Alamo which is the 2nd longest golf course in Spain and the famous La Manga Club.