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You are advised to appoint a legal professional to represent you during your purchase, there are many English speaking lawyers here in Lorca who specialise in Spanish law and are happy to assist you with any legal advise and paperwork necessary. Should you require assistance in locating a lawyer, Casas de Lorca will be happy to recommend a selection of local Lawyers for your use.
| What additional costs are involved when I purchase my property? |
In addition to the purchase price, you will be required to pay 7% of the value for transmission tax. This is the Spanish equivalent to Stamp duty in the UK and is paid directly to the Spanish government. On a new build property you will have to pay 7% IVA (VAT equivalent) and 1% transmission tax. The Notary and the Registry fees are also paid by the purchaser and these fees vary depending on the size and location of the property purchased. However, as a guide, If you allow 10% of the purchase price you should have sufficient funds to cover all associated costs.
| How long does the purchase of a resale property take? |
The sale procedure can be completed as quickly as 1 week or as long as 1 year, this all depends on you and the vendor, we will negotiate on your behalf to meet your needs. However, in normal circumstances from the point of reserving your property to completion is between 4 and 8 weeks.
| Do I have to be present at the completion of my purchase? |
If you Know you may not be available to attend the Notary’s office at the time of completion, you will need to arrange a valid Power of Attorney to be present on your behalf. The Power of Attorney can be given to your lawyer or indeed any adult you choose to represent you and sign on your behalf. Your lawyer will assist if needed with communications between yourself and the Notary. However, we do strongly recommend that you do attend in person if at all possible.
| Will I have to pay local rates and taxes? |
The annual costs of owning a home in Spain are generally much lower than those in the UK. You will receive annual bills for the collection of the rubbish, mains drainage and rates (IBI), and you will also be charged bi monthly for other domestic services such as water and electricity.
| Is it easy to get mortgages in Spain? |
Spanish banks will generally lend up to 70% of the property valuation for non residents. Interest rates at the moment are lower than in the UK and vary slightly from bank to bank. As in the UK, there are different mortgages available to suit different circumstances and to qualify you will need to fulfil the banks criteria. Spanish mortgages are of course in Euros. This can be a benefit for customers, in ensuring that there is no shortfall in the amount required at completion, due to exchange rate fluctuations.
| Can Casas de Lorca build the house of our choice? |
Yes, Casas de Lorca are specialists in construction and resales. We have over 12 years experience of building in the local area and can provide all the assistance you require from architects plans and build licenses to building your house so that it is ready to move in to.
| If we decide to sell our property in the future, what do we do? |
You can contact us again here at Casas de Lorca where we will provide you with a current valuation for the sale of your property and endeavour to sell it as quickly as possible. However, if you need a valuation for mortgage purposes your chosen bank will send their own representative.
| Does Lorca have sufficient facilities? |
Lorca has approximately 80,000 inhabitants. Therefore, has everything and more that you would expect from a Spanish town. Public transport links and motorway connections are excellent. There is a cinema, theatre, sports centre, numerous bars and restaurants, supermarkets and shops. There is also a local hospital with 24 hour Accident and Emergency facilities.
| Can I bring my pet to Spain? |
Now that the UK has introduced the new pet passport scheme it is easier to bring your pet to Spain. However, you will need a certificate to prove your pet is healthy enough to travel and has had all the required vaccinations. For current procedures and requirements you should contact your local vet.
| How will I communicate if I don’t speak Spanish? |
Lorca and the surrounding areas now have more English residents than ever before. There are English speaking doctors, dentists, lawyers, architects etc all within the area and shopping at the local supermarkets is as simple as undertaking the weekly shopping in the UK. However, should you have any specific issues or concerns, remember that here at Casas de Lorca we have Spanish and English staff who will be happy to assist if required.
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