Below you can find answers to some of the most frequently asked questions we receive about buying or constructing a property in Spain. If you don't find the answer to your question you are welcome to Contact Us for further information.

How do I go about arranging an inspection trip?
If you need assistance with arranging an inspection trip we will in Accom be happy to help you. Apart from the booking of flights, hotels, etc. we will arrange a meeting upon your arrival to Spain to give you an initial briefing of all legal and practical issues involved with purchasing or constructing a property. If requested we will also help you schedule visits to various properties / plots from different agents or developers, arrange a visit to a financial institution and we will arrange the initial paper work (like getting NIE number).
The first thing you should do is to fill in the form in our Help & Advice section to explain what type of property / plot you are looking for, when you are planning to visit Spain and any other doubt you have at the moment. We will thereafter contact you with answers to your questions and for further information about your requirements to the inspection trip.

Do I have to decide upon a property straight away?
Even though you believe you have found your dream house on the first day of your visit we always recommend to keep the scheduled plan and view all the properties you have requested before taking any decisions. During many visits there will be a persuasive Estate Agent trying to make you take a buying decision. In this situation the assistance of an unbiased Accom consultant during your inspection trip can be very helpful.

When I have found a property I want, what are the next steps?
The first step after having found the property you want to buy is to make sure that all the legal issues are in order, which can be taken care of by one of Accom's lawyers. To make a reservation contract for a property you are normally required to pay down 10% of the of total price but as this amount will be lost if you don't buy the property your lawyer (and not the sellers or the real estate agents) will need to go through all the paper work. If everything is in order and you decide to pay down the deposit the reservation contract (private-contract) is signed. This contracts sets out all the conditions of the purchase like the agreed price for the property, what is included in the price, how it should be paid, the state of the property and the date of sale.

How long does the buying process take?
To buy a re-sale property or a plot will take about a week or two if everything is order. The only waiting time involved is for the lawyer to go through all the paper work (if needed this can be done in a couple of days), for the buyer to have the money ready and to schedule a time with notary to sign the title deed.
As to new properties this is a longer process and can take up to 2-3 years as the property have to be finished.

Can I get a mortgage to finance the purchase?
When financing a property in Spain you can either take a loan in a bank or directly with the developer if it is a new property. These types of loans are secured in the property and are long-term loans about 20-30 years. A developer of new properties offers finance up to 80% of the price whereas a bank will lend you between 60% and 80% of the price.
If requested we can schedule a meeting with a Spanish financial institution to solve all the financial doubts as early as possible.

What are the additional costs of purchasing a property?
The initial cost of buying a property in Spain is about 10% of the total price. These costs include legal, fiscal and notary fees, transfer tax (on re-sales) and VAT and stamp duty (on new developments).

Is it necessary to use a lawyer?
It is not a legal requirement that you have the assistance of a lawyer to purchase a property in Spain but it can be highly recommended. There are a number of legal problems a buyer can face which can end up costing a lot of money if they are not solved in time including unpaid bills, false owner ship or outstanding debt. A good lawyer will make sure that all these issues are in order before you sign or pay anything.
It is important that you get an independent lawyer and not the sellers or the real estate agents, as they might not be 100% impartial in their advice. In Accom Consulting we have our own in house lawyers with a long experience in advising foreigners on property purchases and we also work with a number of the best English speaking property lawyers throughout Spain to able to provide our service all over the country.

If I wish to rent out my property what do I do?
In Accom Consulting we can help you in all aspects of property management including maintenance, promoting and renting out the property please see Other Services for further information.