Interested in investing in Spain?
9 March, 2017duguech
For those who have noticed in the real estate business an investment opportunity in Spain, it is necessary to take certain considerations into account, so as not to jeopardize the allocated capital and to optimize resources and return on investment.
Once the property is selected for its physical characteristics and cost, it is vital to know what the legal situation is. Taking this into account, it is vital the following points are considered
- Who owns the property and if it is rented
- If you have mortgages or liens
- If you are subject to any special Housing Protection Scheme
- If you are current with the corresponding real estate taxes
- If you have insurance contracted by the owner
- If the property is subject to prohibitions or limitations on usage rights
This registration information, although it is generic, can be requested in the Property Registry. However, if the property on which it is desired to invest is flat, legal evaluation is more complex, but just as necessary. It should not be forgotten that the buying and selling process is fundamental to protect and maximize capital.
Once the legal situation is known and the financing possibilities evaluated (if necessary), the signature of the contract, the definition of responsibilities, the payment of taxes and the subsequent registration in the Land Registry may be considered. It is a long and somewhat complex process that must be rigorously followed and preferably evaluated by a specialist.
This information is not in any way legal advice, serving only as an informative purpose. If you need professional services in the area of Global immigration and Mobility, please contact our firm.
*It should be noted that the rules of any of the countries listed and the procedures suggested might change at any time without notice.