Do I need a Real Estate Lawyer?
When buying, selling, or letting a property in Spain, having expert guidance is a clear advantage. The right Spanish property lawyer can help protect your interests, handle issues, and provide key advice.
Below, we’ve compiled a list of just some of the services real estate lawyers in Spain can offer to buyers.
Checking paperwork
The buying process in Spain may be quite different from that of your own country. It’s important to get a knowledgeable lawyer to check over any paperwork, such as a preliminary contract or housing deed. The lawyer can then query any issues and make sure you have all the right information to make informed decisions.
Without a professional to guide you, the process can become complex and confusing.
Carrying out due diligence
A property lawyer can undertake due diligence checks to make sure that everything is in order. For instance, they may check the land registry to confirm ownership, investigate planning permission, and examine existing debts and charges on a property.
Carrying out the necessary due diligence is important. It can save you time and money, especially when checking for issues that aren’t immediately obvious. For example, part or all of a house may not be registered or there might be issues with zoning laws.
Using power of attorney
If needed, you can grant your Spanish lawyer power of attorney. This means they can make decisions, sign documents, and continue the process on your behalf. This can be particularly useful if you can’t or don’t wish to attend meetings in person.
It’s important to choose someone you trust and who will make the best decisions for your transaction. That way, you have peace of mind that an expert is handling the process.
Explaining taxes and fees
Different types of properties are subject to different taxes. For instance, imagine you’re thinking of buying a brand-new villa in Mallorca that’s being sold for the first time. You’ll usually need to pay VAT, amongst other fees.
However, if you decide instead on a historic finca, you’ll usually need to pay transfer tax (alongside other fees) instead of VAT, as the property has been owned before.
Once you’ve bought your property, you’ll also need to make sure you know about annual taxes and fees associated with being a property owner in Spain. Some of these can vary according to rules established for the local region.
Dealing with issues down the line
With the best will in the world, sometimes things don’t go as planned during, or even after, the sale. It might be that your off-plan developer doesn’t fulfil their obligations, or you might wish to extend the property but need help with planning permission. Perhaps you run into uncertainties over communal areas and need legal advice.
Whatever the issue is, having a local property lawyer ready to help means you’re well placed to sort out any issues.
Applying for NIE numbers
In order to buy a property in Spain, you’ll need an NIE (foreign identity number). You will also need to consider residency status, research visa requirements, and you may need to apply for a TIE (a new type of residency card). These processes can take a while and so should be done early on in the buying process; it’s best to consult your lawyer if you’re unsure about what you need.
If your lawyer is acting as your power of attorney, they may be able to undertake processes, such as the NIE application on your behalf.
Helping with property lets in Spain
Rental investments in Spain can be an attractive idea. However, there are rules restricting certain types of lets and these are generally set out by the local authority. In Mallorca, for instance, you will need a special license to let your property to tourists. Your lawyer may be able to assist with queries about local rental requirements and rental contracts.
Real Estate Lawyers in Spain
Here at Property Lawyers, we aim to help you find the right local Real Estate lawyer for you. We’ve helped over 1000 clients protect their interests.
To find out more, simply search for a lawyer in your area, Mallorca, Menorca, Ibiza, Málaga, Marbella, Barcelona, Madrid. If you’re a lawyer interested in promoting your services, please get in touch.
