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If you would like to buy property in the country of Spain, there are many tips to use that will help make your buying experience much more positive and profitable. Just a little extra knowledge about what you are getting into will help you as a buyer get your very best deal. The practice of buying Spanish real estate by people who are not actually residents of the country yet has become so commonplace that the process has basically become streamlined enough for anyone to maneuver through with help.

It is extremely common for Northern Europeans to purchase second homes in Spain. These are typically used for second homes or vacation homes and many times they are used as rental property when the owners aren?t there, so that they also help to actually pay for themselves. The market has been a profitable investment for many people who have bought property in Spain, particularly in Costa Blanca, in recent years.

The most important person you can have on your side as you begin the process of purchasing real estate in Spain is a real estate agent. An experienced, knowledgeable, trustworthy and often bilingual agent can make the process so much easier and quicker it is definitely a good idea to enlist their help.

The second most important person is an attorney. You should hire an independent attorney, and make sure the attorney works for you, not the agent or the seller. It is also essential to have a bilingual lawyer if you do not speak Spanish. Ask anyone you know that has recently used an attorney in purchasing a property in Spain to refer any lawyers that you should either hire, or even avoid.

Something to remember when you are first considering buying property in Spain, there is a 35% capital gains tax in Spain for foreign investors based on both the buying and selling price of the property, so if you sell the property immediately, the taxes may dissolve any profits. Long-term investments in property in Spain are best with the current tax structure.

Most who buy property in Spain do so through the use of a mortgage. There are many types of mortgages available to a potential property buyer. Spending enough time to research each possibility will help ensure you get the best deal possible for you. An international mortgage is one possibility. These are provided to a person in their home country for purchasing property in another country. There is usually a 30% down payment made on these mortgages. Second mortgages on a property you already own are also often used to purchase vacation property.

The Internet can be a very helpful resource in searching for all your vacation property buying needs. You can do research on desirable areas, real estate agents and attorneys, as well as lending institutions.

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