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Frequently Asked Questions

The team at SUNUTI has compiled an informative list based on the questions we are most frequently asked by customers. We hope that you will find an answer to your question here.

Please feel free to contact us with any question or concern and we will get back to you as soon as possible.

If you prefer to speak to someone our telephone number is +44 207 016 9878

What costs are associated with a property purchase in Spain?

The vast majority of purchases will attract between 11% and 13% of the Purchase Price made up of taxes and legal fees.

How long does the purchase process take?

Usually the process takes between two and three months to complete but some properties are more complicated than others so may take longer.

What is the process of buying a property in Spain?

Buying a home on one of the Balearic Islands can be a very exciting time. Viewing different styles of property, researching and experiencing the local areas and envisaging a care free life in the sunshine all add to the fun of this experience.  However like any home buying experience there are also other factors that need to be considered to smooth the path to purchasing your dream property in the sun – factors such as costs, legalities, sales contracts etc.

If this is your first time buying a property on one of the Balearic Islands, you should be aware that the procedure and process is quite different in comparison to the UK.  Good advice is always to seek out the services of an independent English Speaking Lawyer on your chosen Island who has experience in advising UK clients in relation to property purchases.

However, to give you an overview of the process of buying a property on one of the Balearic Islands we have compiled a simple guide addressing some of the questions you may have regarding this process:

Does Sunuti charge for its services?

NO! We don’t charge you a penny! watch the video:

 

What is a NIE?

An NIE number which translates as Identification Number for Foreigners or Foreigners’ Identification Number is issued by the Spanish authorities, as its name suggests, to enable them to identify foreigners. It is basically an all-purpose identification and tax certificate/number and will be required for any official or authoritative process in Spain.

These may include the process of buying a property, being granted a loan or mortgage by a Spanish financial body, employment, connection to utility services, making transfers or paying bills via your Spanish Bank account, inheriting assets, purchasing a car, and of course paying your taxes. If you do not have an NIE number the Spanish tax authorities are unable to assess or process annual income or wealth tax payments, both of which are required by law to be declared by resident and non-resident property owners.

Please have a read of our blog which contains all the information you need;

Do I need an NIE to buy a house?

If you are buying property in Spain, you will be required to hold an NIE number by the time you sign the deeds of purchase before notary – in Spanish a process termed ‘escritura’.

We suggest that you apply for your NIE number to meet this deadline at least one month prior if you are making your application in Spain, and at least two months if you are applying via a consulate abroad.  Of course the actual time your application takes will be dependent upon the time of year and where you apply so best allow yourself plenty of time.

Please have a read of our blog which contains all the information you need;

How do I get NIE?

They are a number of methods by which you can that your NIE certificate. These are:

  • Apply in person in Spain.
  • By visiting the Spanish Embassy in your home country.
  • Apply through your legal Representative, accountant or lawyer in Spain.

Please have a read of our blog which contains all the information you need;

How do I open a Bank Account in Spain?

You can either open a bank account as a resident or non-resident. In order to apply for a resident bank account, you need to live in Spain for a longer period. To be more specific, you should be based in Spain for more than 183 days per annum, work in Spain or own your own business in Spain. This means that if you are in Spain for a short period, or are considering of buying a Spanish property – you’ll have to apply for a non-resident bank account. If you do want to live in Spain for a longer period and are not a resident yet – a non-resident account can always be converted into a resident one. Generally, non-resident accounts attract higher fees. The resident accounts are more flexible and have logically a greater number of benefits.  

Please have a read of our blog which contains all the information you need;

How do I get in contact with a Lawyer to help with my purchase?

We can recommend local, trustworthy Solicitors that will take your through the whole purchase.

Will the local Estate Agent in Spain charge me anything when buying a property?

No, Agents charge the Property Owner a commission so they won’t charge you anything.

Do I need to speak Spanish?

We speak Spanish so no, you will not need to speak Spanish, also if you find a property that you want and buy it then all the service providers that we introduce you to such as Mortgage Brokers and Solicitors will speak both Spanish lots of other languages so no need to worry.

We do recommend learning the language once you live in Spain though as it will help you navigate life much easier!

What are the best areas to buy in Mallorca?

If you are looking for a little piece of paradise that is less than a three-hour flight way from most European cities. A place that combines stunning scenery, secret coves nestled on golden sands edged by turquoise blue waters, picturesque villages, a vibrant capital city, some of the world’s most luxurious hotels and the delight of sampling the finest locally produced food and wines served in first-class Michelin-starred restaurants, then look no further than the island of Mallorca.  

Browse our cities guides to learn about the most desirable places to live in Mallorca.

How do I get a Mortgage in Spain

Please contact Alex at alex@sunuti.com and he can give you some initial ideas and then introduce you to one of our approved Mortgage Brokers who can help and provide you with some options.

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