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About the Home
Interior & Exterior Features
Interior Features
Bedrooms
2
Bathrooms
2
Living area
72 m²
Structure area
72 m²
Terrace
Yes
Exterior Features
APARTMENT
Property Type
Floor/Storey
Year Built
14
2005
Heating
Cooling
Community Details
Swimming Pool
Community pool
Parking
No
Amenities
Solarium
-
Fees & Taxes
Municipal tax (IBI)
Community fees
€230/year
230 € every 3 months
Property
Video Visit
Property
Photos
Property
Location
Avenida Roentgen, 5, Torrevieja, Spain
Tips
The Buying Process
Don't worry - our agents will guide and help you through the process
01.
Step 1: Signing the Deposit Contract
Once you've selected your ideal property and agreed upon a price, we’ll prepare a Deposit contract for review and approval by your legal advisor. This contract outlines the essential terms of the purchase and secures your right to buy the property. Key points of the private contract include: ▪︎ Names of the Buyer and Seller Clearly stated names of both parties involved to officially record the participants in the transaction. ▪︎ Property Description A detailed description of the property, including its registry number (finca number) and cadastral reference, confirming that the property is registered and owned by the seller. ▪︎ Agreed Price The full purchase price of the property is documented, establishing the cost of the transaction. ▪︎ Deposit Amount This is typically 5-10% of the total purchase price, which the buyer pays as a deposit to reserve the property. ▪︎ Payment Terms for the Remaining Balance Outlines how and when the remaining amount will be paid, ensuring transparency for both parties. ▪︎ Guarantee of a Clear Title The seller confirms that the property is free of debts, mortgages, or any other encumbrances, safeguarding the buyer’s purchase. ▪︎ Closing Timeline Sets the date by which both parties agree to finalize the sale in front of a notary. This period typically ranges from 30 to 90 days but may vary if both parties agree. ▪︎ Additional Documents and Verification We will also obtain a "Nota Simple" (a registry extract confirming the seller's ownership) and a Cadastral Plan, which illustrates the physical boundaries of the property. ▪︎ Signing and Deposit Payment Once your lawyer and the seller have approved the contract’s terms, all parties sign the document. At this stage, the buyer pays the deposit, which can be done either directly from a Spanish bank account or through the client account of your lawyer.
02.
Step 2: Prior to Finalizing the Purchase
Before signing the final deed (escritura) at the notary, you will need to complete the following steps: ▪︎ Open a Spanish Bank Account This account is essential for transferring funds within Spain and managing any local payments related to the property. ▪︎ Obtain an NIE (Número de Identificación de Extranjero) The NIE is a foreigner identification number required for paying certain taxes, including the I.T.P. (Impuesto Sobre Transmisiones de Patrimonio), which is a transfer tax on asset purchases like property. ▫️ Recommendation: We strongly advise having your lawyer obtain the NIE on your behalf through a Power of Attorney. Arranging appointments and processing the NIE independently can be challenging and often requires multiple in-person visits. ▪︎ Provide Proof of External Funds (for Non-Residents) If you are a non-resident, your lawyer will secure a certificate from your Spanish bank, confirming that the funds for the purchase were transferred from outside Spain. These preliminary steps ensure compliance with Spanish legal and tax requirements and simplify the finalization process.
03.
Step 3: The Notary Finalizing the Property Purchase
Once all required documentation is ready and the full purchase funds are transferred to Spain, your lawyer will coordinate with a notary and arrange a signing date for you and the seller. If you have granted Power of Attorney to your lawyer, they can complete this on your behalf. ▪︎ What Happens at the Notary At the notary’s office, the sale becomes official. The notary confirms: 1. Identity Verification The notary verifies the identity of all parties, confirms that the seller is the legal owner, and ensures the stated price matches the payment evidence provided. Typically, the notary will review proof of the 10% deposit and confirm the balance is ready via a bank-guaranteed cheque. 2. Review and Agreement The notary reads aloud the key points of the title deed (escritura) to ensure all parties agree. Once confirmed, all parties sign, making the sale final. At this point, the buyer also receives the keys to the property. 3. Language Assistance If any party does not speak Spanish, the notary will typically require an interpreter to ensure full comprehension. Your lawyer can assist, or we can provide this service as needed. 4. Immediate Registration Protection After signing, each party receives a preliminary copy of the title (copia simple). The notary then sends a copy of the deed to the Property Registry to prevent the seller from attempting to resell the property before the buyer’s registration is complete. 5. Special Tax Retention for Non-Resident Sellers If the seller is not fiscally resident in Spain, the buyer must retain 3% of the purchase price to cover a portion of the seller’s capital gains tax. This amount must be paid to the Spanish tax authorities (Hacienda) within 30 days of purchase. This measure ensures non-resident sellers contribute to capital gains tax obligations. Your lawyer will handle this retention and make the payment to Hacienda on your behalf. With these steps completed, your property purchase in Spain is fully secure and legally recorded.
04.
Step 4: Registration of Title
Title registration should be completed promptly but cannot proceed until the Transfer Tax (I.T.P.) has been paid to the regional government. Buyers have 30 days from the date of purchase to make this payment. Once the I.T.P. is paid, the escritura de compraventa (deed of sale) is stamped by the regional government and can then be submitted to the Registro de la Propiedad (Property Registry) to officially record the change of ownership. Once registration is confirmed, a new Nota Simple can be obtained, which reflects the updated ownership in the public records. This ensures that your ownership is legally documented and recognized.
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ADDRESS
Carrer Basilio Paredes, 3
03140 Guardamar del Segura, Alicante
