Tips on buying new property in Spain

Consider engaging a certified attorney when purchasing property in Spain to mitigate risks.

While it may seem tempting to forgo legal representation, especially abroad, it’s a risky move given the substantial nature of real estate investments. Only a registered abogado (lawyer) can provide legal counsel in Spain, ensuring protection against potential pitfalls.

You should find someone who offers a  competitive conveyancing services, including thorough checks on crucial aspects:

– Land Ownership: Verify that the land is registered under the developer’s name to avoid legal complications.

-. Building Licences: Don’t proceed without a valid Building License to avoid purchasing a property without proper planning permission.

– Bank Guarantees: Safeguard your deposits with bank guarantees to protect against developer defaults.

-. Licence of First Occupation (LFO): Essential for utilities, financing, and rental purposes, confirming compliance with regulations.

– NIE Number: Required for foreigners to buy property in Spain.

– Snagging List: Identify and resolve construction defects before completing the purchase.

– Post-completion: Prepare for ongoing expenses like taxes and utilities.

Skipping these steps could lead to legal issues or financial losses. Seek professional advice to ensure a secure investment.