Buyers
+34 965 049 725
hola@munfort.com
Munfort
Munfort
+34 965 049 725
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+34 965 049 725

hola@munfort.com

Buyers Buyers

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Buyers

Buyers
Buyers

BUYING PROCESS

In our Munfort real estate agency we seek to satisfy our customers by having a team of agents that will help you find the house you want. To do this, we rely on the different criteria that our customers have in mind as the area, the type of housing, budget, etc.. to find the type of home you are looking for.

If you are looking for a house or have any questions, do not hesitate to contact us by calling or emailing us.

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To better understand the buying process, we divide it into four parts:

Preparation Inspections Reservation Turnkey

Preparation

It all starts with the search for the property you want through our website or by contacting us if you want a property that we do not have that you liked.

Inspections

Once you know the house/s you are interested in, we will arrange a time and place to proceed with the inspection of these houses.

If you are not from the area or country and need advice with hotel reservations, transportation, etc., please contact us for assistance.

Reservation

Once you have decided to purchase a property, you will proceed to pay the deposit for the reservation of the property. This amount will depend on the type of property and is normally 10% of the purchase price.

Turnkey

Acquisition

Once the reservation has been made, we start preparing all the documentation so that you can have the key to your new home in your hands as soon as possible.

But our work does not stop there, we take care of more after-sales services, such as contracting electricity and water, redecorating your home, carrying out reforms, etc.

Fiscal representative - Legal advisor

One option that many choose is to hire an expert to help you keep track of your taxes and legal obligations.

We will be happy to recommend a good advisor to take care of this.

Additional costs

Please note that there are additional costs to the purchase of the property that you should take into account when calculating the price of the property. Fees such as those of our agents or official fees such as:

  • VAT
  • Stamp Duty
  • Notary fees
  • Registry Fees
  • Legal Fees
  • Contact us for updated fees

Financing

At the moment Spanish banks are working on terms of around 80% of the value of the property, although this depends on your financial circumstances (please note that this will incur an additional cost of approximately 13% in total) and interest rates are around 3%.

Therefore, you should be covered for the remaining 20% of the purchase price, plus additional costs such as VAT, ITP, notary fees, etc., which are usually around 12% of the purchase price.

In order to know the real costs with more accuracy, contact our agents and they will prepare a budget that will facilitate this task.

Buyers - Financing

Other services

Decoration studio

Thanks to our team of decorators, our work as real estate agents does not end when you have obtained your home, but we offer you a personalized service of decoration that covers the needs that you may have.

We work with professionals who will advise and help you whether you want to make a complete renovation of the decoration, or if you want to remodel part of the house, or simply want advice to improve existing elements of it.

Your home will gain class and comfort and will also increase its value significantly if the decoration and design work is done properly and by a professional. Our designers will adapt their knowledge to your needs and tastes, enhancing them and getting the best out of them.

Ask for an appointment without obligation or cost and talk to our decorators about what you want.

Maintenance

At Munfort we are always looking to make your job easier and once again, if you want to make sure that your house is always in good condition while you are in it or not, contact us and we will put you in touch with professionals in cleaning, gardening, repairs, etc.

Lawyer

Although it is not essential, if you want the advice of a lawyer for legal, tax or simple paperwork matters, we will recommend and put you in contact with a professional. It will save you time and stress and give you the security you need for a very reasonable cost.

Completion services/deed signing

It is sometimes the case that clients find a property on their own that they like but they are not able to do it, either because they are out of the country or because they do not have the necessary knowledge and they want us to manage the purchase and make sure that everything is done correctly and that way they do not have any unpleasant surprises. If this is your case, do not hesitate to contact us and ask us how we can help you.

Contracts and certificates

Another service that we provide to our clients is the request of certificates and contracts such as:

  • Certificates of habitability
  • Water
  • Electricity
  • Alarms
  • Telephone
  • TV
  • Internet
  • Etc.

Mortgage. Financing


MUNFORT offers comprehensive assistance in the process of finding the best mortgage or financing option for the purchase of a home. With our experience and expertise, we will guide you through the different options available in the market, taking into account factors such as interest rates, terms and conditions. This help ensures that clients make informed decisions and obtain the most suitable financing for their individual needs and circumstances.

In 2024, in the Region of Murcia, the Transfer Tax (ITP) is set at 8%, applied to the sale or market value of the property, with the buyer being responsible for its payment. In addition to the general rate of 8%, there are reduced rates and exemptions, such as 3% for young people under 35 years of age who purchase their first habitual residence for a value not exceeding 150,000 euros.

Let us suppose that we want to acquire a property in the Region of Murcia for a value of 100,000 euros.


EXPENSES TO BE CONSIDERED in the REGION OF MURCIA:

  • Transfer Tax (ITP): 8% of the value of the property.
  • Notary and Registry fees: Estimated at 2% of the value of the property.

CALCULATION OF EXPENSES:

  • PT: 8% of 100.000€ = 8.000€.
  • Notary and Registry fees: Estimated at 2% of the value of the property.

TOTAL EXPENSES:

  • ITP + Notary and Registry fees = 8.000€ + 2.000€ = 10.000€.


Then, in order to be able to acquire the property, we must have at least 10.000 euros saved to cover the associated expenses.

In the Valencian Community in 2024, the Transfer Tax (ITP) is set at 10%, calculated on the sale or market value of the property, being the responsibility of the buyer its payment. In addition to the general rate of 10%, there are reduced rates and exemptions, such as 6% for young people under 35 years of age who buy their first habitual residence for a value not exceeding 180,000 euros.

Now let us suppose that we want to purchase a home worth 100,000 euros in the Valencian Community.

EXPENSES TO BE CONSIDERED in the VALENCIAN COMMUNITY:


  • Transfer Tax (ITP): 10% of the value of the property.
  • Notary and Registry fees: Estimated at 2% of the value of the property.

CALCULATION OF THE EXPENSES:

  • ITP: 10% of 100.000€ = 10.000€.
  • Notary and Registry fees: 2% of 100.000€ = 2.000€.

TOTAL EXPENSES:

  • ITP + Notary and Registry fees = 10.000€ + 2.000€ = 12.000€.


So, in order to be able to purchase the property, we must have at least 12,000 euros saved to cover the associated expenses, and it is advisable to have an additional amount as a reserve and to cover other possible unforeseen expenses related to the purchase of the property.

Calculate mortgages

Currency exchange

  • Pounds: 714.656 GBP
  • Russian ruble: 714.656 RUB
  • Swiss franc: 758.175 CHF
  • Chinese yuan: 6.592.575 CNY
  • Dollar: 965.415 USD
  • Swedish krona: 8.955.788 SEK
  • The Norwegian crown: 9.002.648 NOK

Tax Representation. Lawyer

If you are not resident in Spain, at the time of the notary deed you need to present a fiscal representative in Spain.

In this case we can recommend a prestigious law firm with extensive experience in the sector and who speaks your language to represent you and take care of all the documentation and preparation of the sale and purchase.

Legal representation:

In addition to tax matters, a fiscal representative can provide legal advice on aspects related to the home purchase, such as reviewing contracts, preparing legal documents, and representing the buyer in legal matters related to the transaction.

In summary, having a fiscal representative when buying a property in Spain as a foreigner can provide peace of mind by ensuring compliance with tax and legal obligations, as well as facilitating the purchase process by providing advice and representation on tax and legal matters.

NIE (Foreigner's Identity Number)

On the day of the signature before the notary the signatories need a Spanish NIE. You cannot complete the purchase-sale with your country's identification card or passport. How to obtain the NIE:

  • At the Spanish consulate in your country of residence.
  • Foreigners office in Spain: Hiring the services of a lawyer in Spain to carry out the necessary procedures and obtain it. In this case we can help by recommending a law firm that speaks your language.

    Currency exchange. CRIPTOMONEDAS

    Currency exchange companies in Spain, commonly known as casas de cambio or exchange bureaus, are mainly engaged in providing foreign currency exchange services to customers who need to exchange one currency for another. These companies facilitate the conversion from one currency to another, either in cash or through wire transfers, offering competitive exchange rates and transparent commissions.

    The main activities of these companies include:

    01. Foreign Exchange

    They allow customers to exchange one currency for another, whether for international travel, international business, investment in foreign markets, among other purposes.

    		 02. Buying and selling foreign currency

    Buy and sell foreign currency in cash or through bank transfers, providing access to a wide range of currencies.
    03. International money transfers

    Facilitate international money transfers, allowing customers to send money to other countries in the desired currency.

    		 04. Financial advice

    Some foreign exchange companies also offer financial advisory services related to the foreign exchange market and currency risk management for corporate clients.


    Paying for homes with cryptocurrencies involves using decentralized digital currencies, such as Bitcoin or Ethereum, to conduct real estate transactions. This process generally involves the seller and buyer agreeing to use cryptocurrencies as a form of payment. To carry out the transaction, an equivalent value in cryptocurrencies for the property must be established, considering price fluctuations. It is important to have specialized legal and financial advice to ensure a secure and legally valid transaction.

    GOLDEN VISA

    Law 14/2013, of September 27, on support for entrepreneurs and their internationalization, introduces in Spain a new type of visa and residence permit for investors known as Golden Visa.

    The essential purpose of this measure is to facilitate foreign investments in Spain made by persons who are not citizens of the European Union, through an agile and flexible method focused on those who have the consideration of investors in their legal concept, entrepreneurs, highly qualified professionals or workers who carry out transactions within the same company.

    Advantages of the Golden Visa

    • Immediate visa for one year renewable for two years with subsequent five-year renewals.
    • Travel freely within the 26 countries of the Schengen area: Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland.
    • All properties are freehold.
    • Property prices could be up to 40% lower than the market price in 2007.
    • Along with the investor, the investor's spouse, children under the age of 18 or adult dependents for health reasons can apply for the visa.
    • Children under 18 can receive 12 years of free education in local public schools.
    • Newborns born in Spain may apply for a Spanish passport after one year.
    • No minimum period of residence in Spain of 183 days is required for renewal of the permit (the permit holder may maintain his/her fiscal domicile outside Spain).
    • Enjoy a residence in a European country with great attractiveness, stability, security and quality of life.

    Types of Golden Visa

    The different types of investments included in the law as a way to obtain the stay and residence visa form a group around the concept of significant investment, considering as significant those that meet any of the following assumptions.

    1. An investment equal to or greater than 2 million euros in Spanish public debt securities.
    2. With the purpose of acquiring shares of Spanish companies, or bank deposits in Spanish financial entities, for an amount equal to or greater than one million euros.
    3. Consisting of the acquisition of real estate assets valued at 500,000 euros or more.
    4. For the purpose of developing a business project in Spain considered and confirmed as being of general interest due to meeting one of the following requirements: job creation; making an investment with a relevant socioeconomic impact; relevant contribution to scientific and/or technological innovation. In case of being carried out by a legal entity, it cannot have its registered address in a tax haven and the applicant must have the majority of the votes.

    This last assumption is considered by law as a different type of significant investment due to its amount, since the obtaining of the visa is determined by reasons of social importance or other economic benefits not financially valued in money or capital. Also included within this range are highly qualified professionals and those who carry out transactions within the same company.

    It is a new type of residence visa, established by Law 14/2013, of September 27, aimed at those non-resident foreigners who wish to enter Spanish territory to make a significant capital investment.

    The law distinguishes two big groups. The capital investments (in public debt, social shares of Spanish companies, bank deposits in Spanish financial entities and through the acquisition of real estate assets) and other kind of investments (creation of a company of general interest, high qualified professionals and transactions within the same company).

    Yes. The investor’s visa allows to circulate freely within the “Schengen” area (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland)

    Yes. The holder of the permit can keep his tax residence outside Spain, as long as he stays in our country for a period less than 183 days per year. Also, the residence permit can be renewed even with absences longer than six months per year.

    The residence visa for investors authorizes to stay in Spain during one year. Once expired this period, it can be requested a residence authorization for a period of two years, renewable for two years more if you prove the maintenance of the investment.

    Yes. The Golden Visa authorizes to live and work in Spain. This results from the Fourth Additional Provision of the Law, which states a single proceeding to request a permit authorizing to live and work.

    Yes. The visa applications will be solved and notified in a period of ten working days, while the maximum period to solve the residence authorizations are 20 days since the submission of the application, with a positive administrative silence.

    Yes. The time lived in Spain legally will count to request the long-term residency and also the nationality.

    Yes, however with certain clarifications. The residence authorization for investors must have an initial duration of two years, after which the permit can be renovated every two years indefinitely in the case that the investment and the rest of requirements are complied

    No, it is necessary to have the investors authorization which is valid for one year. During this year, the residence authorization can be requested at any moment without having to wait to complete the year.

    No. The Law is only applicable to the investments carried out from the 29th September 2013 onwards, date when the law entered into force, as it is states in the thirteenth final disposition of the same.

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