Stage one – OFFER Preparing according to your wishes
Leave an application on our website «Bravos Estate», and our consultant will contact you shortly to answer all your questions and advise on key aspects of purchase and travel arrangements
At this stage, our task is to understand what exactly you need:
- reason for purchase;
- type of a real estate item;
- special characteristics of a real estate item;
- price range.
Based on this information, within 24 hours we prepare for you offers options that meet your needs.
If you are interested in our offers, and you are ready to continue cooperation with our company, it’s time to move on to the next stage.
Stage two – organizing and preparing a study tour to Spain with the purpose of real estate properties viewing
At this stage, you should:
- determine the date of the visit;
- formalize all the documents and obtain a visa to Spain;
In this case, we recommend you to apply for a standard tourist visa.
- book your flights and accommodations in Spain;
Our staff will be pleased to advise you on these issues.
- meet with an employee of our company at the train station or the airport;
Our employee will contact you beforehand and make an appointment.
- further our employee will take you to the place of residence at the time of visit and discuss the procedure for the viewing of the selected real estate properties.
STAGE THREE – viewing of real estate properties you have selected/span>
Over the next few days, accompanied BY A BRAVOS ESTATE MANAGER, you will examine real estate properties that are suitable for your requirements.
You will be previously familiarized with the features of your chosen region, and all your available questions relating to accommodation, education, business or leisure introduction in Spain will be answered.
In the event you stop your choice on one of the proposed to you real estate properties, we move on to the next step.
Stage four – PREPARATION FOR registration of property rights to the real estate properties
This stage comprises of the following:
- The selected item shall be reserved for you, by signing the private contract of sale with the owner, which records the parameters of the transaction (price, payment terms, etc.)./li>
- The purchaser shall pay a deposit of 10% of the purchase price (up to 5000 euros). This amount will be deducted at the signing of the contract at the notary. The deposit is not refundable if the transaction is terminated at the purchaser’s initiative.
- NIE (Foreigner Identification Number) shall be issued within 7 days.
Should apply those persons who will later be included in the contract.
for the NIE application, the following documents should be provided:
- a completed application form (format EX15);
- a receipt of payment of duty with the seal of the Bank of Spain;
- a valid international passport with an open visa and a photocopy of the passport;
- two photographs of 3×4;
- a return ticket;
- a document confirming the necessity of NIE obtaining, such as a pre-contact for the purchase of real estate (ARAS)
An account should be open in a Spanish bank. All payments associated with real estate purchase will be made from this account.
To open an account you need:
- the original international passport;
- NIE (Foreigner Identification Number);
- a certificate of employment, indicating the position, length of service and monthly salary (translated into Spanish and notarized) and 2-PIT form;
- a pre-contact for the purchase of real estate (ARAS);
Experts of our company shall carry out a real estate item for the presence of debts and encumbrances that are required to be repayed up to the signing of the public deed of purchase.
Before the deed of purchase signing, our experts are ready to complete a package of documents and, if necessary, assist in obtaining a mortgage loan.
Upon completion of all the above steps, we proceed to the next step.
Stage five – CONTRACT OF SALE SIGNING at the notary
At this stage, a public deed of purchase signing shall be made, a final settlement with a property owner shall be performed, and you receive the keys and all the necessary documents for the property ownership. From this moment on, you are a full owner.
Upon the transaction completion, you get a copy of the contract and the original contract of sale shall be sent for registration in the Registro de la Propiedad. A registered contract shall be issued to you (or forwarded to the bank in case of real estate purchase in the mortgage) 2-3 months after signing.
Stage six – after-sales services
After the real estate item purchasing, you have an opportunity to enter into a contract with our company on after-sales service of the real estate item, and we shall take care of all the arrangements for property maintenance and management on the basis of the owner’s orders.
- execution of contracts with public utilities (electricity, water, gas, telecommunications, and security systems);
- assistance in registration with the tax authorities;
- residence registration;
- insurance policies signing;
- buying furniture;
- real estate item cleaning;
- repair works of any complexity, reconstruction, surrounding land ennobling and interior decoration.
Real estate Purchase Costs in Spain
Expenses and taxes for the purchase of Spanish property
- 10% VAT (IVA) shall be payable when a new property purchase from a developer;
- 10% tax on the transfer of ownership (ImpuestodeTransmisiones Patrimoniales) shall be payable when habitation purchase in the secondary market;
Additionally, the purchaser shall be obliged to pay the notary fees and charges for the entry into the Property Register for all types of transactions.
- Spanish property purchaser shall pay the notary fees (Gastos de Notario). The amount of the notary fees depends on the real estate item value.
- registration costs in the Property Register of Spain (Gastos de Registro). You shall be obliged to pay these costs at entering your name and data as the new real estate owner into the Property Register. The amount of costs for registration also depends on the real estate item value;
- costs on paperwork 350 € – 450 € (Gastos de Gestоria);
Thus, the total cost when real estate properties purchasing in Spain may amount to about 12.5-13% of the property value.
Obtaining a mortgage loan from a bank
Our company will help you find the right bank, which will offer the best conditions on the mortgage when buying a property in Spain. We can also assist in the package of documents collection and preparation, which are necessary for an applicant to apply for a loan.
For a mortgage loan obtaining, you need to prepare the following documents:
- Financial documents obtaining from the client;
- Legalization of documents (official translation by a Spanish translator);
- Preparation of a complete package of documents and submitting them to the bank;
- Real estate valuation;
- Bank Confirmation of the loan amount and loan conditions;
- Signing of the loan agreement at the notary
- certificate of employment, indicating the position and length of stay in it, as well as the average monthly income in rubles (certificate should be printed on the company letterhead, signed by its manager, its accountant, and a round company seal);
- 2-PIT form (payment of tax on income of natural persons) for 2 years;
- bank statements, certified by the bank seal, or information about the flow of funds by debit or credit card;
- copy of the certificate (s) of the real estate ownership in Russia;
- certificate of existence or absence of loans in Russia from the national Bureau of Credit Histories;
- a copy of the international passport (if the property is acquired by several persons – copies of international passports of all participants in the transaction).
TERMS AND CONDITIONS on mortgage loans in Spain to foreign citizens:
Spanish banks are willing to provide funds to borrowers for the purchase of real estate in the amount of 50% – 60% of its value, not including taxes (banks do not finance cost of this item!). Property price can be taken from the contract of sale, or, at the discretion of the bank, it will be assigned to an independent examination. The maximum period for which Russian citizens can apply for a mortgage loan in Spain shall be 25 years. It shall be calculated on the borrower’s age.
The tightening of the issuing loans system: a floating rate on the loan, depending on the EURIBOR, has been replaced by a fixed rate and amounts to 6.85% since January 1, 2014. At present, only residents in Spain can count on the rate of 4.5%. Thus, the rate on the loan shall be equal to 6.85% for the citizens of Russia.
In Spain, the fact of obtaining a mortgage loan, as well as its full repayment shall be made in a notarial deed and registered in a mandatory manner in the State Property Register.
costs of LOAN registration and obtaining:
- bank commission for the loan opening is usually 1.5-2% of the loan amount.
- payment services real estate valuation – an average of 0.1% of the price;
- registration fees – about 1.7% of the loan amount.
Our company cooperates with the leading Spanish banks, so you can be sure that we will find you the best mortgage loan option and help you to go through all the necessary procedures.