Tenerife Estate Agents – Identifying an Real Estate Professional Who Will Meet Your Requirements
Of all of the things which Tenerife offers its expatriate residents, the dependably good weather is right up there near the top of their list. Elsewhere in Spain might offer similar cultural charm, but mainland Spain can shiver throughout the winter right along with the remainder of Europe.
While the rest of Europe grinds to some halt within blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes back home.
It’s not surprising then that so many people consider Tenerife estate agents to be just about the most desirable locations to which to retire. The nice and cozy dry climate is kind to old bones actually for quite some time Los Cristianos was really a popular destination for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to go to Tenerife a day, there are certain things which need be noted about buying property on the island. To begin with, although Spanish laws may look similar, they are not necessarily just like those in most of Europe.
One important thing to remember is the fact debts stay with the property; they are not fixed on the previous owner. Which means if the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless they may be cleared just before the sale passes through. To make sure that there are no nasty surprises the property buyer must request a Nota Simple.
In Spain, the document which corresponds to the Title Deed in the united kingdom is called the Escritura. This has to be formalised by a Notary and then any Withholding Tax if the seller not resident in Tenerife must be paid in the Hacienda.
As your estate agent will counsel you, Transfer Tax is 6.5% of the sale price except with regards to a brand new property where you will find 5% IGIC (Canarian tax) to spend and .75% Transfer Tax.
That you have purchased a new property, you should pay 5% Canarian VAT (IGIC) and .75% Tenerife estate agents Tax.
Lastly, the new buyer should have his name recorded on the land registry and the bills then must be transferred in to the name of your new house owner.
There are many things to watch out for when selecting Tenerife estate agents, particularly that this property you might be buying is in fact legal. In some instances, houses which can be on rural land will not be 100% above board.
The Tenerife government is just not averse to bulldozing illegal structures to the ground and fining the owners so it is crucial that anyone interested in buying Tenerife property seeks the advice and support of any experienced and professional estate agent.