Buying Guide in

Gran Canaria

Buying Guide in Gran Canaria

The property purchase

 

Introduction to property purchase in Spain


The process of purchasing or selling a property in Spain is similar to the process in any other European country. Find a trustful Estate Agent in Gran Canaria is one of the most important steps.

 

Buying a property in Gran Canaria may cost some money.

 

You’re hard earned money. Maybe all of your savings.

 

1.      Always make sure that the real estate agency is insured and that it is not afraid to show you its insurance. An agency without insurance does not offer any guarantee in case of bankruptcy or means that it has been refused the possibility to make insurance. For this reason we provide our customers with a copy of our insurance and we put the data of the same in our contracts.

2.      The ideal Agency would speak your language and a good Spanish language(we speak nine different).

3.      When you find the right house, sign an House Reservation “ Reserva de inmueble “. At this time only 1% of the price should be deposited, to block the property you like. All the contracts of Canary Life Real Estate clearly report the defense of the buyer; for example the House will have to be sold without any debt.

4.      In Canary Life Real Estate is the normal procedure that no amount is transferred to the Seller until you have a new, verified, “ Nota Simple ”.

 

Nota Simple is a report from the Property Registry that describes the property. Information about the property usually includes:

 

Whether the property has debts, usually for mortgages or unpaid taxes.

The current owner

The boundaries

The total square meters of the land and of the house if there is one.

How the land has been classified: rústico, urbano, or urbanizable.

And much more things!

 

How much energy in the air! I've reserved a house, and now?, what to do then?

 

5.      In Canary Life Real Estate once this data has been verified, it will proceed with the payment of 10% of the price and the subscription of an "Opcion de compra", which is an official writing between the interested parties. Complete with all the details, timing, inventory, etc.

Notarial conveyance:

6.      The buyer will not have to pay anything else until the sign of Deed of Conveyance (Acta Notarial), when with the signature of an public official, the house is officially transferred to the new owner, and only at that time it is to pay the remaining sum directly to the seller.

 

Taxes and legal fees related to the purchase:

 

Following are the main features of this chapter: purchase tax, Notary's and Land Registry's fees, handling fees and translations. On average one has to reckon 8-10% of the purchase price, however we will make for you a detailed estimate on each particular property you are interested in.

 

All buyers must have:

 

A Spanish NIE number; this fiscal identification number, which you will soon learn by heart, is the same number that goes on your green Residencia paper. Getting a NIE is a must unless you have a job contract or a pre-contract to buy a property (or are a non-EU citizen investing 500,000 euros in Spanish property; Hello Golden Visa).

A local bank account; Opening a non-resident bank account is straightforward. All you need is a passport. Change to a resident’s account once you get Residencia as the fees are lower.

Getting a mortgage in Gran Canaria

Non-residents need a larger deposit (typically 40%) and a test of earnings in their home country dating back to six months. You can usually make a mortgage up to 70 years old.

 

Don't worry, Canary Life accompanies all of its customers in the purchasing process.
 

The property purchase

 

Introduction to property purchase in Spain


The process of purchasing or selling a property in Spain is similar to the process in any other European country. Find a trustful Estate Agent in Gran Canaria is one of the most important steps.

 

Buying a property in Gran Canaria may cost some money.

 

You’re hard earned money. Maybe all of your savings.

 

1.      Always make sure that the real estate agency is insured and that it is not afraid to show you its insurance. An agency without insurance does not offer any guarantee in case of bankruptcy or means that it has been refused the possibility to make insurance. For this reason we provide our customers with a copy of our insurance and we put the data of the same in our contracts.

2.      The ideal Agency would speak your language and a good Spanish language(we speak nine different).

3.      When you find the right house, sign an House Reservation “ Reserva de inmueble “. At this time only 1% of the price should be deposited, to block the property you like. All the contracts of Canary Life Real Estate clearly report the defense of the buyer; for example the House will have to be sold without any debt.

4.      In Canary Life Real Estate is the normal procedure that no amount is transferred to the Seller until you have a new, verified, “ Nota Simple ”.

 

Nota Simple is a report from the Property Registry that describes the property. Information about the property usually includes:

 

Whether the property has debts, usually for mortgages or unpaid taxes.

The current owner

The boundaries

The total square meters of the land and of the house if there is one.

How the land has been classified: rústico, urbano, or urbanizable.

And much more things!

 

How much energy in the air! I've reserved a house, and now?, what to do then?

 

5.      In Canary Life Real Estate once this data has been verified, it will proceed with the payment of 10% of the price and the subscription of an "Opcion de compra", which is an official writing between the interested parties. Complete with all the details, timing, inventory, etc.

Notarial conveyance:

6.      The buyer will not have to pay anything else until the sign of Deed of Conveyance (Acta Notarial), when with the signature of an public official, the house is officially transferred to the new owner, and only at that time it is to pay the remaining sum directly to the seller.

 

Taxes and legal fees related to the purchase:

 

Following are the main features of this chapter: purchase tax, Notary's and Land Registry's fees, handling fees and translations. On average one has to reckon 8-10% of the purchase price, however we will make for you a detailed estimate on each particular property you are interested in.

 

All buyers must have:

 

A Spanish NIE number; this fiscal identification number, which you will soon learn by heart, is the same number that goes on your green Residencia paper. Getting a NIE is a must unless you have a job contract or a pre-contract to buy a property (or are a non-EU citizen investing 500,000 euros in Spanish property; Hello Golden Visa).

A local bank account; Opening a non-resident bank account is straightforward. All you need is a passport. Change to a resident’s account once you get Residencia as the fees are lower.

Getting a mortgage in Gran Canaria

Non-residents need a larger deposit (typically 40%) and a test of earnings in their home country dating back to six months. You can usually make a mortgage up to 70 years old.

 

Don't worry, Canary Life accompanies all of its customers in the purchasing process.
 

The property purchase

 

Introduction to property purchase in Spain


The process of purchasing or selling a property in Spain is similar to the process in any other European country. Find a trustful Estate Agent in Gran Canaria is one of the most important steps.

 

Buying a property in Gran Canaria may cost some money.

 

You’re hard earned money. Maybe all of your savings.

 

1.      Always make sure that the real estate agency is insured and that it is not afraid to show you its insurance. An agency without insurance does not offer any guarantee in case of bankruptcy or means that it has been refused the possibility to make insurance. For this reason we provide our customers with a copy of our insurance and we put the data of the same in our contracts.

2.      The ideal Agency would speak your language and a good Spanish language(we speak nine different).

3.      When you find the right house, sign an House Reservation “ Reserva de inmueble “. At this time only 1% of the price should be deposited, to block the property you like. All the contracts of Canary Life Real Estate clearly report the defense of the buyer; for example the House will have to be sold without any debt.

4.      In Canary Life Real Estate is the normal procedure that no amount is transferred to the Seller until you have a new, verified, “ Nota Simple ”.

 

Nota Simple is a report from the Property Registry that describes the property. Information about the property usually includes:

 

Whether the property has debts, usually for mortgages or unpaid taxes.

The current owner

The boundaries

The total square meters of the land and of the house if there is one.

How the land has been classified: rústico, urbano, or urbanizable.

And much more things!

 

How much energy in the air! I've reserved a house, and now?, what to do then?

 

5.      In Canary Life Real Estate once this data has been verified, it will proceed with the payment of 10% of the price and the subscription of an "Opcion de compra", which is an official writing between the interested parties. Complete with all the details, timing, inventory, etc.

Notarial conveyance:

6.      The buyer will not have to pay anything else until the sign of Deed of Conveyance (Acta Notarial), when with the signature of an public official, the house is officially transferred to the new owner, and only at that time it is to pay the remaining sum directly to the seller.

 

Taxes and legal fees related to the purchase:

 

Following are the main features of this chapter: purchase tax, Notary's and Land Registry's fees, handling fees and translations. On average one has to reckon 8-10% of the purchase price, however we will make for you a detailed estimate on each particular property you are interested in.

 

All buyers must have:

 

A Spanish NIE number; this fiscal identification number, which you will soon learn by heart, is the same number that goes on your green Residencia paper. Getting a NIE is a must unless you have a job contract or a pre-contract to buy a property (or are a non-EU citizen investing 500,000 euros in Spanish property; Hello Golden Visa).

A local bank account; Opening a non-resident bank account is straightforward. All you need is a passport. Change to a resident’s account once you get Residencia as the fees are lower.

Getting a mortgage in Gran Canaria

Non-residents need a larger deposit (typically 40%) and a test of earnings in their home country dating back to six months. You can usually make a mortgage up to 70 years old.

 

Don't worry, Canary Life accompanies all of its customers in the purchasing process.
 

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Meloneras | Calle Mar Blanco 6, C.C . Meloneras Playa Planta Tercera n.312, 35100  | Gran Canaria 

(+34) 603 13 20 44

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