# Apartment in Finestrat



## Benidorm_Babe (Apr 5, 2011)

Hello. This is my first post, I am totally new to this. I am looking to buy an apartment in Finestrat. If I am using it for myself and family only do I have to inform the Spanish authorities or just visit as if I am on holiday. Many thanks , Sue


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## xabiaxica (Jun 23, 2009)

Benidorm_Babe said:


> Hello. This is my first post, I am totally new to this. I am looking to buy an apartment in Finestrat. If I am using it for myself and family only do I have to inform the Spanish authorities or just visit as if I am on holiday. Many thanks , Sue


hi

the Spanish authorities will know about it because you'll need a NIE number in order to buy it

a NIE number is a fiscal number


also you'll have to submit a non-resident tax declaration every year


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## Benidorm_Babe (Apr 5, 2011)

xabiachica said:


> hi
> 
> the Spanish authorities will know about it because you'll need a NIE number in order to buy it
> 
> ...


Thanks for your reply. Will the estate agent be able to help me with this. I am totally new to buying abroad so not sure of all the legalities of everything.


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## xabiaxica (Jun 23, 2009)

Benidorm_Babe said:


> Thanks for your reply. Will the estate agent be able to help me with this. I am totally new to buying abroad so not sure of all the legalities of everything.


I'm sure the estate agent will help you get a NIE number - & if you're lucky they'll do it for free

it's actually very simple to do yourself - you can download form EX15 from our FAQs thread & you take that to the National Police Station In Benidorm

the address is : 
C/ Apolo XI Nº 36 - 03501, Benidorm (Alicante)


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## Benidorm_Babe (Apr 5, 2011)

xabiachica said:


> I'm sure the estate agent will help you get a NIE number - & if you're lucky they'll do it for free
> 
> it's actually very simple to do yourself - you can download form EX15 from our FAQs thread & you take that to the National Police Station In Benidorm
> 
> ...


Thank you so much for your advice, I really do appreciate it. I an back over in Benidorm early May so hopefully I will be able to sort things then. Wish me luck.


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## brocher (Mar 21, 2011)

Benidorm_Babe said:


> Thank you so much for your advice, I really do appreciate it. I an back over in Benidorm early May so hopefully I will be able to sort things then. Wish me luck.



make sure you do a lot of reading and research before your next trip, as there can be many pitfalls for the unwary when buying property overseas. Check all legalities and associated costs, your tax position, shop around, negotiate, research the area, etc and particularly, do not rely on an estate agent for everything. In particular, make sure you find your own reputable solicitor- no way take a recommendation from the Estate Agent.


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## Pesky Wesky (May 10, 2009)

I have just found this. I haven't watched it all the way through, but it looks excellent. One piece of advice convinced me. "We think that you should start looking 18-24 months ahead of the time that you want to move". Although I know it's tempting too many people allow too little time to plan their move.
BuyAssociation FCO Video
So Benidorm Babe, this info may not be pertinent to you, but on the same page there's a free downloadable guide to buying in Spain which may be just what you need!


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## Benidorm_Babe (Apr 5, 2011)

brocher said:


> make sure you do a lot of reading and research before your next trip, as there can be many pitfalls for the unwary when buying property overseas. Check all legalities and associated costs, your tax position, shop around, negotiate, research the area, etc and particularly, do not rely on an estate agent for everything. In particular, make sure you find your own reputable solicitor- no way take a recommendation from the Estate Agent.


Brocher - thank you for the heads up. I thought I could have relied on the estate agent. I'm too trusting. 

Pesky Wesky - will definitely watch the video and download the guide. 

All my replies have been so helpful. Thank you all. Sue


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## Lynn R (Feb 21, 2014)

Benidorm_Babe said:


> I thought I could have relied on the estate agent. I'm too trusting.


You just need to keep in mind that it is the seller who will be paying the estate agent's commission - so whose interests are likely to be of paramount importance?

As you are interested in buying an apartment, check how much the monthly community fees would be on any properties you are interested. There can be big differences between them depending on how extensive the facilities are. These are in addition to the annual IBI (Council Tax) bill - always ask how much that is, too.

It's also a good idea to check how much the catastral value (like the old rateable value in the UK) of the property is too. Because property prices have fallen a lot during the crisis, some are now being sold for less than the amount of the catastral value, and some people who have bought cheap properties have been hit by an unexpected bill for additional transfer tax well after the sale has been completed, as the Spanish tax office use the "official value" to calculate this, if it is higher than the purchase price. If the property is very cheap that might not add too much to the cost, but better to be aware of the possibility in advance rather than get a nasty shock further down the line.


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## Benidorm_Babe (Apr 5, 2011)

Lynn R said:


> You just need to keep in mind that it is the seller who will be paying the estate agent's commission - so whose interests are likely to be of paramount importance?
> 
> As you are interested in buying an apartment, check how much the monthly community fees would be on any properties you are interested. There can be big differences between them depending on how extensive the facilities are. These are in addition to the annual IBI (Council Tax) bill - always ask how much that is, too.
> 
> It's also a good idea to check how much the catastral value (like the old rateable value in the UK) of the property is too. Because property prices have fallen a lot during the crisis, some are now being sold for less than the amount of the catastral value, and some people who have bought cheap properties have been hit by an unexpected bill for additional transfer tax well after the sale has been completed, as the Spanish tax office use the "official value" to calculate this, if it is higher than the purchase price. If the property is very cheap that might not add too much to the cost, but better to be aware of the possibility in advance rather than get a nasty shock further down the line.


Thank you for your advice. It's certainly not as simple as buying in the UK. I was wanting to buy it for family and self with a view to possibly renting it out mid June to mid September.


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## xabiaxica (Jun 23, 2009)

Benidorm_Babe said:


> Thank you for your advice. It's certainly not as simple as buying in the UK. I was wanting to buy it for family and self with a view to possibly renting it out mid June to mid September.


if you're wanting to rent it out that's another layer of paperwork

you need licences now, for holiday letting


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## Lynn R (Feb 21, 2014)

xabiachica said:


> if you're wanting to rent it out that's another layer of paperwork
> 
> you need licences now, for holiday letting


And would need to factor in the cost of cleaning between lets and someone to meet incoming guests with the keys, collect them and check the property before they leave, extra wear and tear on furniture and fittings and extra decorating costs. Plus of course declare the income received for Spanish tax purposes.


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