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Investment Property Guide Spain

Buying a property in Spain – although Spain is part of the European Community, it would be wrong to assume that the process of buying a house is the same as here in the United Kingdom. Before you you settle on a property, there are two things you should do. Try renting a property in an area to see if you feel you could really settle there. Obtain some quality Legal Advice….

Legal Advice obtaining quality legal advise about buying a home in Spain is of paramount importance, and obtaining an independent solicitor is the best bet. You may find that a local estate agent says they will find a solicitor for you or that you do not even need one as the notary will do all the work but this is not the case. The Spanish make use of a Notario, for dealing with the sale of property, the notario is a public appointed person whose main function is to draught up the documents and to make sure that both parties to the agreement comply with all the regulations, to inform about their tax liabilities and to make sure that the monies are actually paid over. The notary will not carry out any pre-contract enquires that you would expect from a solicitor acting on your behalf for the purchase of a property in the United Kingdom, that is why, good quality Legal Advice can not be underestimated. It is also important that the solicitor you appoint is independent and have knowledge of both Spanish & UK taxation & inheritance laws. You may pay a bit extra for a specialist but it will pay dividends in the long run, expect to pay about 1% of the purchase price for a good quality service

Investment Property Guide Spain- A guide from Assetsure.

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