The preliminary contracts are presented both in Spanish and in German, so that the language barrier is no obstacle. Only the Spanish contract shall be in the Spanish real estate law. Accordingly, it is important to be put on it by a Spanish speaking law firm on the ground. When the notary completes an Escritura, the deed is read. Here the notary reads the Spanish points. Its function is limited exclusively to the documentation of the purchase or sale. Advance get buyers and sellers through a registered translator often is this at the same time or the lawyer who took care of a complete the contracts Translation into German language.
Some documents are to teach how to properly perform a purchase before the notary through the buyer’s side. Also informed customers of the pure real estate real estate offices are informed in a timely manner and is supported. For example, a so-called N.I.E.. must be applied for number a Spanish tax number, which entitles a person to purchase a property. What a Gestoria, to german control Office, which required only certified copies of the identity card and a completed application for applying for care. Possible financing of the object are also before and up to the notary, the financed amount by the Bank must be provided.
Because this is a little different than in Germany. The purchase sum flows on the day of the notary appointment. Reservation of the property are most usual 10% down payment of the agreed purchase price on a neutral account to deposit thus considered the object binding optioniert. He will be in the private written option contract Scheduled for the notarization. What taxes or costs incurred by the buyer? In addition to the agreed purchase price, also the closing costs incurred just like in Germany. This is once the notary, lawyer and the real estate transfer tax. Approximately 8 to 10% of the purchase price if the buyer can calculated the cost. Basically 7% incurred since 1.1.2000 real estate transfer tax of the recorded purchase price. This is to be paid within one month after notary certification. The broker is paid on the Balearic Islands from the side of the seller, has agreed to this in a sales order with the respective real estate office.
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