Thursday, July 27, 2023

How is the process of buying a house in Spain if you are a foreigner? Is it complicated?

Buying a house in Spain as a foreigner may seem like a long and complicated process, but it is not if you rely on the right professionals. As this is a really important procedure, knowing the correct steps to follow will be essential to enjoy a successful and satisfying purchase. Thus, in this article, you will find a detailed list with all the steps any foreigner must follow, some important considerations. Keep reading and discover very valuable legal, with tips and mistakes to avoid.

The answer is NO, it's a straightforward and risk-free process.

Spain is the most chosen European destination for foreigners to invest in housing, there are no legal restrictions preventing you from buying a house, its price is low compared to other comparable destinations, and it has a high quality of life and security.

What will you need?

When it comes to registering the house in your name, you will only need two things:

• Obtain the NIE which will be your tax identification number in Spain as a foreigner, it will be necessary at the time the purchased house is registered in your name. It can be obtained, by appointment, at any National Police station in Spain, or at the Spanish embassy in your country of origin.

• Have a bank account in Spain to facilitate the payment of taxes, community charges, housing supplies, and rent collection if you want to rent the house. This requirement is advisable, although not mandatory, and the bank will ask you for your tax and financial information, such as your country's income tax, for example, form 1040 for the USA, and proof of income source.

Can I buy without coming in person to Spain?

The answer is YES, especially when you buy new construction where what you do is choose the home remotely, sign the private purchase contract digitally and make payments from your country. Even the public deed of sale can be done through a duly authorized legal representative before a notary. But to open a bank account in a Spanish bank they will ask you to be in person since they must verify your identity and your signature.

What tips are good to keep in mind when buying a house?

Have the advice and support of a good realtor. At Myrentalia Homes we are accustomed and trained to give you all the support you need.

Visit the house you are going to buy in person or by video conference and get all the necessary information about its location, condition, and services around.

Check that there are no legal or technical problems with the house, if it is a second-hand house, request a Simple Note in the Property Registry to check the legal status of the house, such as: owners, debts of the house, easements, etc.

My job as a realtor is focused on the Costa Blanca, province of Alicante. It is the most important tourist destination in Spain. Come and enjoy your paradise in Spain.