Why Choose Us?
We have now been established in the property industry for the past 12 years, and are one of the leading real estate companies on Gran Canaria. We are a family run company that understands the importance of getting it right first time, Hence our company name.
We hope to assist you, fulfil your dreams of Purchasing a Holiday Home/Investment Property or emigrating to Gran Canaria, keeping you informed every step of the way. Whether you are looking to purchase or rent property, you will find our main aim is to get you what you need, as quickly and as smoothly as possible.
PROPERTY PURCHASE IN SPAIN
Purchasing a property in the Canary Islands is similar to any other European country. There are some slight differences, so we have completed a brake down for your information.
What Do You Do?
Once you have decided on your ideal property, you can reserve the property by completing a private contract of option to purchase and make a down payment of generally 10% of the purchase price. The
contract of option to purchase includes all the important purchase conditions: Purchase Price, Latest Date For Completion, Transmittance Of The Property Free Of Charges, Inventory List Of The
Furniture, Etc. Both parties Buyer and Seller are equally obliged.
Notary Conveyance:
The property is officially sold to the Buyer at the signing of the title deeds (Escritura Pública de Compraventa) before a Notary Public; it is at that time, the buyer pays the total purchase price. The Notary Public receives The Land Registry Office information about the property and certifies this in the deed. He advises both parties on their rights and duties, including tax matters. The title deed must then be presented at the Land Registry for its registration, you should receive these back in 1 to 3 months.
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 Transactions.
On average you should reckon 8-10% of the purchase price, however we will make you a written estimate on each particular property you are interested in.
Yearly Costs:
After purchasing your property there will be annual taxes to pay (Land Tax, Income tax, Wealth Tax). In Spain these taxes are a small percentage of the taxes paid in the UK i.e. Council Tax etc. If the property belongs to a complex with community facilities ("Comunidad"), there will be a monthly maintenance charge. You will be informed of this costing in advance of the purchase.