Buying Property in Spain FAQs

1) Why buy through The Nest Management?
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To buy a property in Spain can take a lot of patience, time and money. Apart from the large range of properties to choose from, the legal registration is a delicate matter. It takes knowledge and a trustworthy partner who can act on your behalf. Advantages of buying through The Nest Management:
A range of fantastic coastal and inland properties are offered for sale. Title deeds are checked beforehand to avoid disappointment after you fall in love with a house.

A copy of the purchase and agreement contract can be provided in Spanish AND English, so it isn't a matter of trust, you can actually check what you are going to sign.

Watertight clauses to protect you during the buying process.

As a buyer you do not pay any extra commission.

The Nest Management’s Team know the market; this insures you get value for money, professional, accurate service and a clear title for all properties you view.

If you purchase a property in need of restoration or modernization, we can provide you with the details of several local trusted and respected tradesmen, from painters and decorators to builders and architects.
2) Purchase procedure (step by step)
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Purchasing a property in Spain might be different to what you are used to at home. Therefore it is very important that you use a reputable estate agent as well as a sound legal advisor. The extra costs for your legal advisor are in fact your insurance against possible problems that might arise in the future.
The following steps give you a guideline of a standard property purchase: STEP 1: The estate agent and finding your dream property. It might be quite a hard job to find your ideal property among the wide range of properties on offer. It is therefore very important to use an established estate agent who is able to answer all your (legal) questions. A good estate agent will also guide you through the negotiations and procedures to the completion of your investment.

STEP 2: Private purchase contract. After you decide to buy a property a private contract is signed between you and the seller (or builder) and at this stage it is normal to pay a 10% deposit. By signing this contract and paying the deposit money the property is now off the market and reserved for you. This private contract should contain all property details as well as different clauses to protect you during the purchase procedure. In some cases you can agree on reservations agreements before you sign a private contract, in which case you pay a smaller amount (usually up to 3000,- euro) to take the property off the market for a short period of time. This situation usually occurs when it is necessary to act fast because of other potential buyers. It is a way to buy time and meanwhile sort out mortgage options, surveys on the property etc.

STEP 3: Title deed. This is the last phase of the purchase procedure and in the case of a resale property; the completion will usually take place within 1-2 months after the private contract has been signed. It is possible to agree a different period of time with the vendor. This title deed ("Escritura") will be signed in front of a notary. If you purchase the property with a mortgage, the bank representative will also be present to pay and sign the mortgage. The title deed will then be registered by the legal advisor in the corresponding property register and land registry. Also your legal advisor will take care to pay the 8% transfer tax on your behalf within the next 30 days after purchasing.
3) Thinking about buying land in Spain?
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If what you are looking for is land to build your own dream home is often much cheaper than buying a Spanish villa with a large garden (although not necessarily as cheap as many newcomers to the Spanish property market hope). But buying land to build is just as complicated as buying a house in Spain. Spanish land laws are complex, and it is very important to choose the right plot of land in order to avoid future planning permission, problems such as finding out that the land you have bought has no problems. Once you have bought your land, you will need to find an architect to design the house and have the plans approved and get planning permission. Then you will have to find a reputable building company and oversee the actual construction.
4) What extra expenses should I bear in mind when buying property in Spain?
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In general you have to add about 10% on top of the price. This covers notary fees, land registry fees, a 8% transfer tax on re-sales, 10% VAT on a new development, and 1% stamp duty (new developments.) Expenses include:
Taxes (re-sale, new property, plusvalia)
Legal fees (lawyer and notary)
Property register fee
Other fees (translation of documents, presence of translators during negotiation and contract-signing..)
You will also need to take into account travel expenses (flights and hotel) prior to actually buying the house. If your new home in Spain is part of a complex, remember to enquire how much the monthly complex fee is (comunidad). This monthly amount goes towards the upkeep of the common areas in the complex (gardens, lighting, pool, tennis courts, paths etc.) and the wage of the caretaker (portero). Finally do ask how much the yearly property and rubbish-collection rates are. They vary hugely from area to area and it is important you know what kind of yearly expense to expect before purchasing your house.
5) Do I need a Spanish bank account?
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You will definitely need a Spanish bank account for the payment of the purchase price, utility bills, local council taxes, electricity etc. It is very easy to open an account and we can assist you and recommend a suitable bank that fits your requirements.
6) Can I obtain a mortgage in Spain?
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There are a lot of excellent Spanish banks offering mortgages to non-residents. As a non-resident you will be able to finance up to 60% - 70% of the value of the property. There are also several International Banks.
7) Do I need a Legal Advisor?
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It is definitely recommendable to use a Spanish lawyer from the start. Your Spanish lawyer will undertake all searches to verify that all outstanding debts have been paid. It is very important that things such as property tax, energy bills and community fees have been paid by the vendor before you sign the title deed, because in Spain debts are transferred to the new owner. Your lawyer will also register the title deed in the Property Registry and will check the land rights. Usually they also change electricity and water rights into your name. For this they charge around 1% commission of the purchase price. It is not advisable to use the lawyer from your home country, because he would have to use a local Spanish lawyer. This would therefore cost you more money. If you wish we can recommend reliable English-speaking local lawyers who has thorough knowledge of the area in which you are purchasing your property. Once you have your Spanish lawyer, agree on the fee before you do anything else. If you decide to be charged a fee based on an hourly rate, ask for an estimated number of hours before you agree.
8) What is a N.I.E. and how do I get one?
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Recent Spanish legislation makes it compulsory for anyone selling or buying property in Spain to have a NIE - Numero de Identidad de Extranjeros which, translated, means "Identity Number for Foreigners. All you have to do is to go to the Extranjeros department of your nearest Policia Nacional station (find out which one is nearest you . Fill in and sign an application form, and hand it in together with a recent passport sized photo. a photocopy of your passport and your original passport.
Anyone seeking to buy or sell property in Spain would be well advised to set aside one whole day to resolve this question.
9) What is IBI and Plusvalia tax?
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IBI stands for Impuesto Sobre Bienes Inmuebles, and is the annual real estate tax. It has to be paid once a year and is a local tax. The rates vary because some municipalities charge less tax than others. The Plusvalia is a municipal tax and is difficult to calculate. It depends on the increase in value of the land and for how long it has been owned by the seller. Although it is sometimes the subject of negotiation, it is usually paid by the vendor.
10) Do I have to pay a commission for The Nest Management services?
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The Nest Management does not charge a commission for their property sales services to the buyer. The agent fees are paid by the vendor or the collaborating agent.
Holiday Lettings FAQs

1) How do I pay for my booking?
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A 50% of the total renting price should be paid by bank transfer to our bank account to secure your booking; the rest must be paid in cash at check in.
2) Do I have to bring bedding and towels?
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No, you do not need to bring anything. Towels, kitchen towels and bedding are provided for the number of guests reserved.
3) Cancellation of the booking
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If for any reason you need to cancel your booking please contact us via e-mail or phone, for more info about cancellation please read our terms and conditions.
4) Check in and Check out time
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The check in time is between 14.00 and 20.00. Check in after 20.00 and before midnight will cost an extra 30 euro’s, after midnight an extra 50 euro’s. Check out time is before 11.00am.
5) How can I get the keys of the apartment/ villa?
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While booking you can choose your arrival time, on the day itself you can call your contact person to confirm your arrival time or reschedule it. In your booking you can find the details of your contact person, please let us know the time of arrival and we will be there to welcome you.
6) Cleaning service
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The apartment/ villa will be cleaned before entering and after you leave. When needed, there is a possibility to book an extra cleaning service, please let us know if you request this service.
7) Adaptors
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In Spain electricity runs at 220 watts, if you travel from outside the EU, where you have 110 watts appliance, you need to bring an electricity transformer.
If you have any other question which is not in this list please do not hesitate to contact us.
Property Management FAQs

1) Why choose The Nest Management to manage my property?
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The Nest Management is born to give an exclusive and personalized service to people whom do not want their home to become a number but a place called home, clients who want their property to be well managed, clients who want to be looked after, with a professional, personal and prompt service without compromising the highest standards.
2) Why do we regularly visit your property, why do you need our services?
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Prevention is the best way to reduce unwanted surprises. When you are away for long periods of time there are some problems that could arise; Water damage, electrical problems, insect infestations etc… - why risk the cost of these types of damages, we can be at hand so that when you are here for a visit you do not have to spend time cleaning and mending, after all your vacation home should be just a place for relaxing and enjoying yourself
3) What happens to the mail that is sent to my home when I am not there?
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We will follow your instructions and we will either forward it to your prime residence via standard post or by courier, or we will hold it for when you come to visit, either way we will empty your mail box as a security measure, as a full mail box is a clear indicative of an empty home which could attract unwanted vandals.
4) Do you arrange pick up from the airport?
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We could arrange a regulated taxi service under demand to drive you from Malaga Airport to your home every time you visit.
5) Can you provide a hired car on our behalf?
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If you need a hire car we will put you in touch with a reliable local company who will deliver the car to your property when you request it. When you leave, simply leave the hire car at the airport for collection.
6) What if there is an issue with maintenance that requires immediate attention on my property?
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In the case of an incident we will email you or call you, depending on the situation to inform you about the problem, we will attach photographs wherever possible. We will contact local professionals to give us a quote for the repairs and if you agree, we will supervise the work and once again send you photographs after the work has been done.
7) How do I register and pay for the home management services?
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We would whenever possible come to visit your property if you are around, give you our price and once you are happy sign a services contract, then we would request monthly payment by bank transfer directly to our bank account.
8) My property on the Costa del Sol is an investment – how could I gain revenue returns on it?
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We offer the a rental service to help you earn money through your property, we will advertise your property in our holiday rental web site, we will manage the rentals for you, from getting the property ready before and after you have guests, we will control your bookings and payments for such, of course will transfer any rental money to the account of your choice. We will ensure your guests are completely satisfied.
9) I don’t speak Spanish and I am concerned about handling legal and financial issues in Spain, is there anyone who can help?
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There are many English speaking banks and law firms operating in Spain who can help you in your own language. Many Town Halls and Doctors in expat areas will also have English-speaking staff and you can hire a translator to help with the language. If you live on the Costa del Sol, there’s also the Costa Advice Bureau which offers impartial and confidential advice and help to solve legal, financial and general problems about owning a property or living in Spain.
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