Legal Buying Procedure

         

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Displaying items by tag: Orgiva Property For Sale

Wednesday, 07 March 2018 09:26

Orgiva

Orgiva

The population in Orgiva is very diverse in nature and foreigners live in harmony with the Spanish community.

It is the quality of life and its relaxed pace that attracts people to buy homes in this area, especially for families with the range of schools on offer - the local Spanish schools, a Steiner School, and a Montessori school.

There are a number of people living in the area working in the creative medium such as writing, art, sculpture, pottery, and music. Orgiva is internationally renowned for its retreats and yoga holidays, examples being Cortijo Romero and Kaliyoga.

The community provides psychological therapies and a range of alternative therapies, as well as outdoor activities including: horse riding, walking, and mountain biking.

Published in Property
Tuesday, 06 March 2018 07:34

Legal Buying Procedure

Buying Procedure

Legal Buying procedure
When you select a property to purchase you will need a copy of the Nota Simple which specifies according to Land Registry what you are buying and what is registered and to whom. To understand ongoing costs of your potential, purchase a check of yearly IBI (Council tax costs) and level of community charges where applicable should be made. At this point you should appoint a Spanish lawyer who can also check the seller is the owner and basic legal enquiries are made before you part with any money.

The legal implications in Spain of signing a purchase contract
Private Purchase Contracts as part of the buying process in Spain is the equivalent to an exchange of contract in other countries and holds the same legal implications. It is normal at this point for a 10% deposit to be passed to the seller. At the point the contract is signed the buyer becomes legally liable to complete within the stated timescales or risk losing deposits and or incur late payment penalties. The seller is now legally obligated to sell the property at the agreed price.
It is at signing of purchase contract it is also agreed what expenses will be picked up by the buyer and what fixture and fittings form part of the sale and the price.
A purchaser should before signing a Private Purchase Contract have decided exactly who will be buying as it is difficult to add or remove buyers in Spain after this point.

What to expect at completion of your Spanish Home?
Completion for a property purchase in Spain is undertaken in the offices of Notaria Publica. All parties connected to the completion in Spain, including any bank personnel for redemption or subrogation of an existing loan the bank providing a new mortgage, and seller or their legal representative must be in attendance to sign. Either the buyer and or the buyer’s lawyer must also be present.
In the event the Buyer attends in person without their legal adviser being present the Notary will insist you either are fluent in Spanish or have an attendant with you who is. Before completion you will need to understand and ensure you have accounted for all costs, have sufficient provision of funds required for costs and taxes and all relevant cheques, or bankers’ drafts have been written and are available.

Signing on day of property completion what can I expect?
When signing at the Notary for a purchase, if you intend to attend in person patience can be required. It is not unusual for there to be delays and not unknown for one of the parties required to cancel, in which case the signing cannot take place and must delayed. Never assume signing will happen on the day booked and leave sufficient time in Spain to allow for delays.
The notary will check all paperwork and again it is not unknown for them to raise issues and require clarification on points and suspend the signing until these have been sorted. You or your power of attorney will be required to have a certified passport or original passport and original NIE certificates available. The notary will also require to see evidence of the full monies required for completion and be able to verify their source. You can avoid completion day personally by appointing a Spanish lawyer who has power of attorney to sign on your behalf.

What happens after signing and what is the legal process of registration of ownership­­?
After signing at completion, a copy of the deeds are given to the buyer or their legal representative by the Notary. The originals are sent to land registry to be registered. The registration process can take up to three months. After registration the original deeds and all invoices relating to the transaction become available.

Why do I need to check registration has correctly taken place?
You should always check that registration has taken place and get into your possession or pass to your lawyer in Spain for safe keeping, the originals of all documents and invoices. If you wish to sell in the future these will be required for the sale and to ensure you do not pay Spanish capital gain tax on costs incurred at purchase through lack of evidence of these costs. 

For more information please contact us at

Published in Property
Tuesday, 06 March 2018 07:32

Sellers FAQ

Sellers FAQ


How much will it cost to sell my property?

Energy Efficiency Certificate
An energy certificate is needed by EU law, this needs to be carried out by an architect, costs vary greatly, we have a firm we can recommend that will do it for 80.00 Euros plus IVA (vat). This needs to be done to put the property up for sale as both the vendor and the agent can be fined for advertising the property without it.

Estate agent commission
Its normal in Spain that the buyer pays a commission to the Estate Agent working on their behalf. This can vary from place to place; the fees are normally between 2% and 5% of the agreed sale price. Payable either in two parts, half at the signing of the private contract and the balance on completion day at the Notary. If the sale is to go ahead in a short period of time most agents will wait for their fees until completion day.

Notary’s fees
According to Spanish law the seller pays approximately 60% of the costs of the Notary and the buyer pays approximately 40%. However, this can be used as part of the negotiation process, in certain areas its normal the fees are split 50/50.

Local Taxes
This is a municipal tax called Plus Valía, based on the value of the buildings and the length of time that you have owned the property. This varies from Town Hall to Town Hall but is normally not a great deal of money.

What documents are needed to place my home for sale?
Before we can market your property we need the following:
• Escritura 
Your title deeds.
• Current Nota Simple
• Latest IBI statement
• Electricity bill
• Water Bill
• Certificate of Energy Efficiency
• Contract of Sale (mandata de venta)
We have a standard contract giving us permission to advertise your property sell your property and agreeing to pay our commission upon a sale.. This states our selling fee including all marketing costs.
• Licencia de primero ocupación
• Certificado de Legalidad Urbanística 
• Should I repair or redecorate before I put my property on the market?
Always prepare your house for sale, clear the deck, give a fresh coat of paint outside if needed, kerb appeal is important.

Do I have to show my property to prospective buyers?
As a local agent I will always accompany the potential buyer, if you’re at the property and wish to give your input then you are welcome to do so. Some vendors prefer to do it themselves. We hold keys for a lot of properties but always accompany the buyer.

What happens when I receive an offer, do you still bring clients to view?
Until contracts are signed, and the deposit paid we recommend the property continues to be marketed.

When do I sign at the Notary?
A suitable date for signing is agreed between both parties. The day you both sign, monies are transferred, and the keys handed over to the new owner.

Capital gains tax for Spanish Residents
The natural person’s incomes are classified as general income and savings income. Capital gains on investments and properties are considered savings income.
The tax rate that applies must be paid depending on the gain.

Up to 6.000 Euros, the tax rate is 19%.
• From 6.000 to 50.000 Euros, the tax rate is 21%.
• From 50.000 Euros an up, the tax rate is 23%.
The value of the capital gain is obtained from the difference between the value of the transfer and the acquisition value, which are not more than the sale and purchase price, and may be entitled to the consideration of certain expenses inherent to said operations.

Non Tax Resident.
A retention of 3% of the total sale price will be made at point of sale, I.E. signing at the Notary. You then have a set time to reclaim this amount if no Capital Gain has been made, or pay any outstanding tax due on the gain that has been made.

For more information please contact us at
 

Published in Property
Tuesday, 06 March 2018 07:27

The Alpujarras

The Alpujarras

The Alpujarras is a natural and historical region in Andalusia, Spain, on the south slopes of the Sierra Nevada and the adjacent valley. The average elevation is 1,200 metres (4,000 ft) above sea level. It extends over two provinces, Granada and Almería.

There are several interpretations of this Arabic name: the most convincing is that it derives from al-basharāt meaning something like "sierra of pastures". The administrative centre is Órgiva.

The Sierra Nevada runs west-to-east for about 80 km. It includes the highest mountain in mainland Spain: the Mulhacén at 3,479 metres (11,414 ft) As the name implies, it is covered with snow in winter.[4] The snow-melt in the spring and summer allows the southern slopes of the Sierra to remain green and fertile throughout the year, despite the heat of the summer sun. Water emerges from innumerable springs; human intervention has channeled it to terraced plots and to the villages.

Olives are grown on the lower slopes, and in the valley below which extends from Órgiva to Cadiar, through which flows the Guadalfeo river. The plentiful water, milder climate, and fertile land favour the cultivation of grapes, citrus, and other fruit. There is also a developing production of wine on the hills between this valley and the sea, and almond trees thrive on its southern slopes. The eastern end of the Alpujarra, towards Ugijar in the province of Almería, is much more arid.

The Alpujarras today

The high villages have lost population as younger people seek work in the cities, in Spain and elsewhere in the European Union. Tourism has developed as the natural environment of this area has become better known.[citation needed] Visitors include day-time or weekend visitors from Granada and longer-term tourists from northern Europe.

There are bus connections with Granada and Motril; as the motorway extends along the coast, the airports of Malaga and Almeria are brought closer in time. There are also numerous foreign residents, who have also brought income and employment to the area. The villages have good-quality accommodation and shops for tourists. "Serrano ham", cured in Trevélez and other high-altitude villages, is a major local product. Mountain biking and walking is provided for, and the GR 7 / E4 European long-distance footpath passes through the region.

The Sierra Nevada and most of the Alta Alpujarra is protected under various national and international schemes, ensuring that the rural and the urbanistic features are preserved. The priority now is to promote "sustainable tourism" and as far as possible to extend the tourist period.

For more information please contact us at

Published in Property
Tuesday, 06 March 2018 07:26

About Us

About Us

 

Orgiva Properties is the oldest established property agency in the area.


Founded by Paul McJury in 2004 Orgiva Properties has been helping clients to find their dream property, whether it be a cortijo, a country house or a house in the pretty villages of the Alpujarras, for nearly fifteen years.

He is now widening his covered area to include the Costa Tropical, with Towns such as Salobrena, Almunecar, Jete, Motril, Torrenueva Costa etc.

At the end of the boom in property prices almost all real estate agencies in the Alpujarras, and in Orgiva in particular, disappeared.

Orgiva Properties has consistently offered high levels of service to vendors and buyers alike and this is no doubt the reason why the agency is not simply surviving but thriving and growing.

In the past ten years there have been considerable changes in legislation affecting the sale of property which makes life more complicated both for real estate agents and their clients. Previously lax attitudes on the part of lawyers are no longer accepted.

Culture and Language

In rural Andalucia the vast majority of buyers are non-Spanish. For both economic and cultural reasons the Spanish prefer to live in towns. It is vitally important, therefore, that agents speak the language of the clients and understand the mentality of, predominantly, Northern Europeans. Thought processes and belief structures can be vastly different and misunderstandings very common. 

The Aim

That both buyers and sellers emerge from a sale satisfied with the outcome and confident that we have done a really good job in both bringing them together and successfully concluding what is not only a financial, but also an emotional, process.

We look forward to meeting you.

For more information please contact us at

Published in Property

  

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