Eliore Capital guide to buying property in Barcelona is a quick overview of the process and costs involved in purchasing a property in any area.
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The Most Important Thing: To Get a NIE and a Spanish Bank Account
An EU-citizen, non-Spanish resident, will first need a NIE (Numero de Identificacion de Extranjero) number to do anything in Spain including to open a Spanish bank account. This certificate will be valid for 3 months but your number usually remains your for life. Be ready for a complicated red tape process.
The oficina de etranjeria which delivers NIE is located at Paseo San Juan, 189-193, Barcelona. You will need to book an appointment through their website to be able to apply for a NIE number and here is the link to book it: https://sede.administracionespublicas.gob.es/procedimientos/index/categoria/34. You will then have to go back there couple of days later to collect it on an original document make sure that you keep this document in a good condition.
The following documents are required to apply for a NIE:
An filled-in application form, and two photocopies. The form is the Solicitud de Número de Identidad de Extranjero (NIE) y Certificados, number EX-15.
Receipt for payment of the fee, stamped by the bank. Doing this before the application can save time and an extra visit to the police station.
Identity card or original passport and photocopy
Two passport photographs
Proof of current address in Spain
3 Stages to Buy a Property in Barcelona:
Stage 1: Holding Deposit to Secure the property
When you will have entered into negotiations with the owner regarding the price and terms and conditions of sale you will usually put down a holding or reserve deposit to take the property off the market.Stage 2: The pre-agreement (contrato de compraventa)
This is an agreement between the buyer and the seller in which the seller agrees to sell the property, and the buyer agrees to buy the property at the price agreed. You will normally then pay to the seller’s account around 10% of the agreed purchase price.Stage 3: The Sale Contract (escritura de compraventa) You wil have to pay the full remaining amount of the purchase price and fees (mortgage fees, taxes fees, notary fees). The buyer will receive the public deed of conveyance (escritura) in front of a notary, who certifies the transfer, and will send a copy to the local tax office and to the property registry.
The costs involved in buying a property in Barcelona are typically around 12% of the purchase price if there is no mortgage mainly due to the property transfer tax. The buyer is required to pay 10% of the purchase price in property transfer tax for second hand property (ITP). You will also have to pay a solicitor fee and a lawyer fee who will assist you during the buying process.
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