PROPERTY IN SPAIN: NEED A SPANISH ESTATE AGENT?

• Notary
• Lawyer
• Gestor
• Real Estate agent
• Translator

NOTARY
When you buy a Property in Spain and sign the legal documents and property transfer in presence of the Notary you are not there to obtain legal advice from him as from your Spanish estate agent or lawyer. The principal function of the notary is to be a witness of the signatures in the contract and to deal with certain administration tasks.

Before the purchase of a Property in spain, it is therefore very important to get independent legal advice which can usually be arranged through your Spanish estate agent.

Contrary to the estate agent, the Notary is a public official who neither works for the vendor nor the buyer, but whose function is to record the fact that the title deed showing the sale & purchase of the Property in spain has been signed in front of him and that it is understood by both sides.

More information www.notariado.org


LAWYER
In addition to the Spanish estate agent advice, we recommended that you have the assistance of a lawyer when you decide to buy a Property in spain, in order to get legal advice, according to the Real Estate Law in Spain, which is different from other European countries.

The standard lawyer’s fee for purchase of a Property in spain is lower than a Spanish estate agentone, between 1% and 1.5% of the purchase price plus VAT. There are a number of legal problems a buyer can face when buying a Property in spain and to avoid misunderstandings, which can cost a lot of money if they are not solved in time (including unpaid bills, unregistered title deeds, illegal urbanisations, or outstanding debt). A good lawyer will make sure that all these issues are in order before you sign or pay anything, and control any possible fraud.

To buy a Property in Spain, it is important that you get an independent lawyer and not the sellers or the Spanish estate agent, as they might not be 100% impartial in their advice.

A Spanish lawyer or a Spanish estate agent usually speaks English, and other languages, in areas where foreigners settle, and is accustomed to deal with Property in spain transactions and foreign residents problems.

GESTOR
The gestorhas a different role from the Spanish estate agent, he is a general consultant who can look after the paperwork you need to fill out when you own a Property in spain knowing very well the way to obtain an official document or permit quicker than you would do by yourself, even if you are fluent in Spanish.

For example, you will need the utility services your Spanish estate agent won’t help you to get, such as water, electricity etc transferred onto your name and address of your new Property in spain and will have to register for local rates, taxes and open a Spanish bank account.  The gestor can look after filling out the forms.  This is not a bad idea particularly if your Spanish is not fluent.  Apart from anything else, when you buy a Property in spain, the last thing you want to do is spend days or weeks filling out forms.

It’s very easy to find a gestor or a Spanish estate agent in each town or tourist area where there is a Property in spain to sell, and can make your bureaucratic process easier, efficiently attentive to the clients and their fees are very reasonable.

For non resident in Spain, the gestor will make sure that the bills get paid and that your property is safe when you arrive on holiday.

Spanish people use normally a gestor to obtain permits and licences, and for you– new to the country and the language – using a gestor can facilitate information and practical advice for resolving the various administrative problems that appear in everyday life after having bought a Spanish property and that Spanish estate agent won’t help you solve.

• Taxes: Administration of income and wealth tax for residents and non-residents. Payment of local taxes: IBI, rubbish, and car tax for Spanish vehicles.
• Conveyance: A gestor can handle all of the legal work and tax payments required for a Spanish property purchase or sale.
• Wills: Your gestor can give you general advice on preparing a Spanish will, as well as liaising with the local notary for the signing of the will itself.
• NIE residency: He can arrange for your national foreigner identification number (NIE) to be issued. You will need this number before you can buy a Spanish property. A gestor can also help you obtain a residency permit before living in your Spanish property.
• Vehicles: They can arrange for changes of ownership and addresses to be registered, as well as helping with paperwork involved in obtaining a Spanish driving license and importing vehicles.
• Insurance: Many gestors are insurance agents and can arrange insurance for your Spanish property, car, and life insurance.
• Permits: Your gestor can also arrange for your fishing and hunting licenses to be issued – as well as a gun license.
• Business: After moving to your new Spanish property, if you decide to set up a business, then a gestor will offer essential advice on preparing employment contracts and paying social security contributions.

SPANISH ESTATE AGENT
A Spanish estate agent (and also foreigner) is very easy to find throughout every town or beach area and it is an important sector that moves a lot of money with the propertyboom. In many tourist areas and along the places where foreign people settles down you can quickly find a Spanish estate agent who is specialized in foreigners looking for a property. A Spanish estate agent normally works in a local area he knows very well but you can also find bigger international or Spanish estate agent companies.

There is no law regulating real estate agents, so it is important to ensure before buying a property in Spain that the estate agent is a member of a recognised professional association that require examinations for their members. There are two:

• API (Agente de la Propiedad Inmobiliaria).
• GIPE (Gestor Intermediario de Promociones y Edificaciones).

As in any other country, you may meet a good or a bad Spanish estate agent and as the area of property is huge (and in some degree uncontrolled) it can be difficult for an inexperienced buyer to distinguish between the different companies (a 'good' Spanish estate agent or a 'bad' one).

Be careful with any deposit required to reserve the property in Spain. Ask your estate agent for the type of account where the money goes, like a blocked account, where neither party can take it until the sale is closed.

Another thing for consideration is the commission the Spanish estate agent takes on each property sale; a high commission (generally between 5%-10% of the Spanish property price) is justified from the point of view of the Spanish estate agent, because he has to deal with buyers and sellers from different countries. The Spanish estate agent fee includes marketing cost from international advertising too. This can in many cases make the personal priorities of the buyers less important than making the sale.

We recommend to look for independent advice and to see more than one property from more than one Spanish estate agent before you take a final decision, and of course, remember that you should always be advised not only by a estate agent but also by a Spanish lawyer when buying your property in Spain.

TRANSLATOR
If you choose an area with a lot of foreigners to buy your Spanish property is very usual to find a lawyer, a notary or a Spanish estate agent that speaks fluent English. Or you will find in the estate agent team for example, people such as secretaries, translators, who are well prepared and familiarized with the Spanish property law