Case1: NORMAL HOME PURCHASE * Documents: Escritura de Compraventa ~ Deed of Conveyance Nota Simple ~ Local Search * Taxes: Impuesto de Transmisiones Patrimoniales (PURCHASER) ~ Transfer Tax. Impuesto sobre Bienes Inmuebles (PURCHASER) ~ Sales Tax Plusvalia (PURCHASER OR VENDOR) ~ Capital Gains Tax * Process: 1) Property Search in Spain 2) Offer accepted 3) Ask for the Local Search (Nota Simple) this is done by lawyer (2/3 days) 4) Should the Local Search return “CLEAN” then the Deed of Conveyance can be signed. The contract is signed in front of a notary. 5) Once Deed of Conveyance is signed, taxes: Transfer Tax, Sales Tax and Capital Gains Tax must be paid 6) Once confirmation that appropriate taxes have been paid the Deed of Conveyance must be lodged at Land Registry. Case2: NEW HOME PURCHASE* Documents: Escritura de Compraventa ~ Deed of Conveyance * Taxes: Impuesto sobre el Valor Anadido (PURCHASER) ~ Value Added Tax Actos Juridicos Documentados (PURCHASER) ~ Title Registry * Process: 1) Property Search in Spain 2) Offer accepted 3) Once the Deed of Conveyance is signed and witnessed by a notary, the purchaser should pay the Value Added Tax and also the Actos Juridicos Documentados. 4) Once confirmation that appropriate taxes have been paid the Deed of Conveyance must be lodged at Land Registry.
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