Barcelona is one of the major cities in Europe. The diversity of its people and the extensive cultural, gastronomic, and sports offerings, along with its splendid climate that makes its beaches, sea, and numerous outdoor activities enjoyable, attract more and more people from all corners of the planet to invest in purchasing a home.

When deciding to buy, a citizen, resident or not in Spain, must take into account some important aspects, possess certain documentation, and meet some fundamental premises:

First of all, you must select the area of the city where you would like to own the home. It is very important to be clear about the use you will give it. If it is for occasional visits to the city or to rent it out, it will always be better to choose the city center. Its communications and activity will make your stays simpler and more enjoyable or make it easier to rent out.

Once the area has been selected and you know how much money you are willing to allocate for the purchase and its expenses, you must choose the type of home, clearly knowing your order of priorities and preferences. A large or small apartment, with 1, 2, or more rooms, can also be already updated or for you to update to your liking.

Choosing an important real estate agent in the city who inspires confidence is essential. They will be able to interpret your needs and tastes, thus facilitating your search and proposing various options.

Once you have decided on a property, you must complete the following steps:

1. You must declare your interest in purchasing in writing. From that moment, you will receive a simple note from our agency, which certifies the owner’s name, the property’s surface area, the existence of mortgages, and other debts, so you can avoid unpleasant surprises later. At this stage of the process, you will not have to pay any amount.
2. Property Reservation:
   After knowing the legal situation of the property, you must formalize your intention by delivering a purchase reservation, an offer stating your proposal and payment method, as well as specifying the main obligations of the buyer and seller (this step is completed directly with the real estate company).
3. Once the negotiation is completed, the next step is signing a private sales contract with the property seller. At this event, the buyer will deliver 10% of the property’s value to the seller as part of the final price. The typical earnest money contract in Spain states that if the buyer withdraws from the purchase, they lose the money they delivered. If the seller withdraws, they have to pay the buyer double the amount deposited. In certain cases, if the purchase can be made in a short time, it may be possible to go directly to signing the deed before a notary.
4. The last step is the sales deed: before the notary, the buyer will deliver the remaining amount of money (90%), and the seller will transfer the title of possession of the property.

These are the details of the documents to present to the notary: proof of identity (or a signing power of attorney, if necessary) of both parties, the original title of possession of the seller, and proof of payments from the buyer. Once the buyer and seller have signed, the notary will sign underneath with their protocol signature. The contract is ready for tax payment.

Taxes and expenses

For the buyer:

I.T.P. – property transfer tax: 8%

Notary, administration, stamp, and registration fees in the Central Property Registry: between 0.5% and 2%, depending on the purchase modality (with or without a mortgage).

The buyer will be transparently informed about the total taxes and expenses at the end of the negotiation, before signing the earnest money contract.

For the seller:

A tax called plusvalía. With a copy of the deed, the seller has to go to the City Hall. After filling out a form, they will receive a notification by mail with the exact amount they have to pay. The amount is calculated based on the number of years of property ownership and the property value determined by the land registry.

The seller also has to assume the administrative expenses to clear all previous debts, if necessary (mortgage, debts related to community expenses and works, etc.).

Real estate agencies in Catalonia

In Catalonia, there is an official register of real estate agents (AICAT), where each agent who wants to practice as a professional in their city must accredit their suitability and have a surety insurance (civil liability). As a professional real estate agency, Casc Antic BCN has its registration number to offer maximum confidence and quality assurance to buyers, especially foreigners who need special protection in the real estate market jungle. Real estate agencies in Spain charge their fees to the seller, so the buyer does not have to pay any commission to the company for the purchase. If preferred, the buyer can receive special advice and pay for the additional services of our agency: – Assistance in obtaining the NIE, opening a Spanish bank account (for foreign buyers) – Assistance in obtaining a mortgage – Management of procedures after the purchase (for example, changing the ownership of water, electricity, gas services) – Projects for major and minor renovations, furnishing, decoration for future rental.

Documents that the seller must present to the buyer:

• Property deed
• Property registry note
• I.B.I. (property tax)
• Document from the Homeowners Association certifying the regular payment of community expenses
• Certificate of habitability