When buying in Spain, you will need legal representation by a professional in Real Estate, not necessarily a lawyer. VR Property has its own Real Estate lawyer and we will include this work in our agency fee. We charge 3000 euros on top of our advertised seller’s price. This is our commission which is a fee that also includes the following services:
- We will take care of all the paperwork, legal checks, background checks and debt checks on the property.
- We will arrange your NIE number (foreigners’ identification number) which is necessary for the purchase.
- We will arrange opening of a Spanish bank account for you.
- We will translate all documents for you as well as providing a translator on the day of purchase.
- When coming to view properties, we will pick you up from and drop you off at your hotel or the airport.
- After purchasing, we will deal with the water and electricity companies on your behalf to set up direct debits.
- If you would like to have any type of work or refurbishment done on your property, we will arrange it for you with the corresponding professionals.
- We will hold a set of your keys for you in case work needs doing or furniture needs delivering and to keep an eye on the property in your absence.
When you buy from VR Property we like to be open and honest about all charges. The prices that we advertise are the owner’s selling price, we then add on our agency fee which is 3000 euros. These two figures take care of the actual purchase. On the day of the signing in the notary office you will get a bill for around 1200 euros which covers notarial fees and property registration fees. There is also a Spanish property tax to pay; this is a one off payment which is 10% of the owner’s selling price and is normally payable straight away. However, one of the services that VR Property is providing to its clients is that we can postpone the tax payment by 1 year; this could give you as a buyer a bit of breathing space. To purchase from us all you will need is your passport and National Insurance number.
Some of the older or bank repossession properties may no longer have water or electricity contracted. To re-establish the contracts and have new meters installed costs around 500 euros for each service and, once again, this is something which we will arrange for you.
Alicante city is a part of the Costa Blanca, an area well know to Spanish Holidays makers but unknown to foreingers. It is generally overlooked due to popular nearby resorts of Benidorm, Torrevieja and Murcia Costa. However, Alicante´s time to shine is now.
Officially the fastest growing city in Spain at the moment, thanks to its prime location in the middle of the East Mediterranean coast. With fast train links to Madrid and Barcelona as well as Spains 4th biggest airport, Alicante is also attracting big name companies, and with them lots of jobs and work opportunities. As new people flock to alicante the general population increases, housing is becoming scarce which is leading to soaring rental prices.
With our great purchase price and experienced staff, Vr Property is helping our investor clints to build solid portfolios here in alicante. At the moment we are achieving a return of around 8% a year after taxes. We do all the work, the management of the property, we find suitable tennants and make sure they are well looked after, and that they pay their rent on time. Out properties are currently increasing by around 20% a year in value, it´s a great opportunity to invest in bricks and mortar. Call us for more information.