Property Research & Purchase Package

Location Spain

Spain is currently a good location for property investment. Well-developed zones, such as the Balearic Islands, Marbella or cities such as Barcelona or Madrid still offer opportunities to purchase interesting properties with excellent growth and profitability expectations.

In 2016 De Micco & Friendswon the Award "Best real estate Law Firm in Spain".

The procedures

Finding Optimum Properties

As one of the leading property law offices in Spain, De Micco & Friends already supports you during the search for a suitable property. Through our national and international network and strategic partnerships with banks, agents, developers and architects we have excellent access to interesting properties, which we would like to pass on to our clients.
The Property Research & Purchase Package for property investors supports you during search and selection of your dream property. Even if we are cooperating in the search for a suitable property with local agents, we are not representing you as an agent, but completely neutral as your legal and tax advisor. Regardless, if you are looking for a holiday apartment, a private villa, factory premises, commercial property, a hotel or apartment complex as an investment. Our property experts find and evaluate the suitable property according to your specifications and budget.

Representation During Your Absence

Obviously, our clients also search for suitable properties themselves or receive tips from agents, friends and associates. In case of your absence we can represent you, coordinate the offers, carry out pre-inspections for you or investigate with regard to technical or legal risks of the property.

Tax Optimization and Structuring

Particularly for foreign buyers, property purchase may lead to tax or legal consequences with regard to the place of residence. For this reason, before every purchase, we look at the individual situation and the personal objectives of our clients and we check legal, tax and inheritance law consequences. In some cases, it may be wise to buy a property via a company or holding. Every case is different, and this is why we advise our clients individually with respect to their personal, familial or situation under company law. 

Financing Through Local Banks

We can recommend a number of banks if you would like to finance the purchase of your property through local financial institutions. Depending on the property, assessment, collateral and creditworthiness of the buyer, Spanish banks finance properties for non-residents with 50% up to 70% of the purchase price. Residents are granted loans up to 90%. De Micco & Friends supports you in negotiations, takes care of the communication with banks and creates the necessary financing dossier, which contains, besides the valuation report, all necessary documents for the finance application. The processing time of banks for loan applications is between 3 and 6 weeks.

Purchase Assessment and Processing

After the optimum property is found and you decide to buy, we take care of the entire processing. This includes the following services:

  • Legal assessment of all documentation and licences (due diligence)
  • Negotiation and development of option contracts
  • Opening of bank accounts
  • Depositing and safeguarding of deposits
  • Incorporation of companies, if applicable
  • Application for a Spanish tax number (NIE)
  • Financing application and processing
  • Checking of licences and approvals
  • Preparation of notarial contracts
  • Deletion of existing mortgages
  • Safeguarding unencumbered property transfer
  • Property transfer at the registries
  • Declaration and payment of taxes and fees
  • Tax, legal and administrative support after the purchase

In case of your absence, we can represent you during the entire purchase process with power of attorney. Purchase processing takes between 3 and 8 weeks.

Best Foreign Investment Law Firm in Europe - The “Corporate Livewire” magazine has awarded our law office among 100,000 candidates the “Best Foreign Investment Law Firm in Europe” award.

 

New Buildings, Plan Purchase

We will also represent you during all phases if you decide to buy a property during its panning or building phase (plan purchase), from the first reservation to all construction phases to handover and move-in readiness.

Project Management, Purchase of Commercial Properties, Hotels, New Development of Facilities

By purchasing a hotel or guesthouse you not only purchase a property, but an entire business. This requires a much more comprehensive examination, assessment and evaluation of the transaction. A number of possible risks, such as company bad debts or missing licences must be considered. In addition, a qualified audit and evaluation of balance sheets and business plans should be carried out. In many cases renovations or structural alterations are necessary, which have an impact on the budget. De Micco & Friends offers investors comprehensive e project management when purchasing hotels or other commercial property. Besides the search for a suitable property, this also includes structuring and implementation of legal, fiscal and technical principles.
We already support you during the search for a suitable location, purchasing property, project planning and calculation, financing to project implementation if you would like to develop a project, such as the construction of a residential or commercial project. Our group advises private and institutional investors, expanding chain stores as well as experienced developers in the implementation of building projects.

Support After the Purchase

Even after the property purchase our team is available for further support. Our tax advisors take care of the timely report and payment of annual dues. If you let your property continually or as holiday property, then we take care of approvals and lease agreements. For larger estates or apartment facilities we offer complete property management.

 


Best Real Estate Law Firm Spain - The “Finance Monthly” magazine has awarded our law office among more than 5,000 candidates as the best real estate office in Spain.  With more than 1000 implemented transactions, De Micco & Friends is one of the leading property law offices in Spain.

Costs and Fees

Depending to region and purchase price, purchase-related expenses in Spain are between 9 and 13%. These percentages include the costs for legal and tax advice (1-2%, depending on the purchase price), notary fees and processing. VAT for privately used new buildings is currently 10%, for commercial properties 21%.
Fees and Conditions
The fixed fee for the services of the Property Research & Purchase Package for 12 months’ supports is 1,200.00 for private properties and 3,000.00 Euro for commercial properties. The fee for complete purchase processing is between 1 and 2%, depending on the purchase amount and the complexity of the transaction.
The Property Research & Purchase Package is currently offered by De Micco & Friends in the Spanish, Portuguese, German, Swiss, Austrian, English, United Arab Emirates, Cypriot, Turkish, Greek and Iranian (Tehran) branches. Please ask for your individual offer by naming your destination via email at office@demicco.ch.

Services Overview

Research and Project Coordination

  • Search for suitable properties
  • Coordination and analysis of offers
  • Communication with sellers and agents
  • Comparison and evaluation of offers
  • Analysis and presentation of offers
  • Request for offers and pre-negotiation

Purchase Processing

  • Negotiation and development of option contracts
  • Financing, negotiation with banks
  • Assessment of fiscal and inheritance law consequences
  • Incorporation of companies, if applicable
  • Assessment of all documentation and licences (due diligence)
  • Preparation and execution of notarization
  • Tax declarations
  • Conversions and registrations at court
  • Conversion of energy, water, waste, insurance contracts…

 

Costs and Fees

Transaction Type                                        Fixed Fee (12 months)          Purchase Processing

Used, private properties:                                          1,200.00 Euro                                1-2%

New, private properties, plan purchase:              3,000.00 Euro                                1.5-3%

Commercial properties, hotels, facilities:             5,000.00 Euro                                1-5%

Project management:                                                on request

 

Please don't hesitate to contact us for any further question regarding real estate purchase procedures in Spain and all Europe.