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Procedure for purchasing a property

Procedure for purchasing a property

At aProperties we have drawn up this guide in order to advise our clients throughout the entire process of purchasing a property in Barcelona. To follow we will detail step by step everything to be borne in mind from the very start of your search through to the final purchase of a property.

For any query or clarification, please do not hesitate to contact us via our website www.aimmobles.com or by calling telephone number 93 874 92 62

 

Administrative process:

Beginning the administrative process at the very start of searching for a property is indispensable to completing on the purchase once you have found the home that meets the criteria for what you are looking for.

  • NIE (for international clients) DNI (for national clients).
  • Finance: Prior to embarking on your property search, you should establish whether you will need to seek financing. In the affirmative, you can consult with different banking entities and see which of them offers you the most interesting product, or you can also do so through one of the companies in our group, aFinance (www.afinace.es).

 

Purchase/sale process:

Once the client has decided to purchase a particular property, the steps required are as follows:

 

  • Reservation: Its purpose is to demonstrate to the vendor that the purchaser is committed to the purchase. The reservation document indicates the price, the date of signature of the preliminary contract and the latest date for signature of the title deed.
  • Goodwill deposit contract: The amount paid by way of deposit is usually 10% of the purchase price (from which will be deducted the reservation amount paid). If the purchase title deed were not to signed for reasons attributable to the purchaser, he/she will lose the amounts already paid. If, on the other hand, the reasons are attributable to the vendor, he/she must return to the purchaser double the amount received to-date.
  • Title Deed: This is signature of the purchase/sale title deed before a notary, who is always selected by the purchaser. When signing before the notary, the remaining amount is paid to the vendor, who in the same act hands over possession of the property.

Procedure for renting a property

Procedure for renting a property

Property Search

You can look for your ideal property either directly on our website or you can contact one of our advisors so that they might help you in your property search. Visits to prospective properties will then be coordinated so that you can view what could be your future home. Throughout the entire process, your agent will provide you with personalised assistance and with alternatives until you find your perfect home.

Once you have decided upon a property to your liking, the steps to follow are:

 

 1 – Down payment:

Once agreement has been reached (price, entry date, deposits…), it will be necessary to reserve the property by paying one month’s rent, and the property will thereby be taken off the market for a certain number of days. The amount paid will serve as payment of the Agency commission or as deposit, once the rental contract has been signed.

 

2 – Contract:

  1. The minimum obligatory period is 6 months, which can be extended to a maximum of 3 years, although the parties could agree to a longer duration. The tenant is obliged to notify the owner in writing of any cancellation of the contract at least one month in advance. 
  2. Temporary contracts of between three and eleven months.

 

3 – Deposit:

Amount paid to the owner by way of surety. If, upon termination of the rental term, there is any damage to the property, this will be deducted from the deposit.

In addition to the deposit, a supplementary warranty or bank guarantee is also required.

 

4 – Documentation necessary:

  • If you work for a company: payslips and employment contract.
  • Self-employed: Income tax return and latest invoices.
  • Rental in a company name: Corporation tax statement, company title deed and income tax return.
  • International client: Income tax return and documentation that facilitates proof of your solvency.
  • You must have a bank account in Spain in order to set up standing orders for rental payments and utilities.
  • DNI/NIE or Passport.

 

5.- Agency fees:

10% of the annual rent + VAT, payable by the tenant at the time of signing the rental contract.