A Real Estate Advisors primary job is to assist you and advise you throughout the process of you buying a home in Spain. From the definition of your project until the signing of the sales contract at the notary and even beyond. We bring you the experience; the advice and the availability necessary for the search and the purchase of a property in Spain in complete safety, most of all we listen to you.
You have a plan to buy in Spain, an apartment or a villa. You want to make it your main residence, a pied-à-terre or your second home. Or you want to make a rental investment. But you do not have the time, you are not there, you do not speak Spanish or you just want to go through a professional intermediary to guarantee your interests. We can become your Real Estate Advisor. The English-speaking real estate professional in Spain will simplify all administrative, legal, technical, financial and tax procedures. Your partner who will save you time and money!
THE REAL ESTATE ADVISER, THE EXCLUSIVE PARTNER OF THE PURCHASER
A Real Estate Advisor (or “real estate hunter”, “asesor personal inmobiliario” in Spanish) is an independent professional engaged by a potential real estate buyer. This is an activity that has been successfully operating for years in the United States, the United Kingdom, and France, where a large portion of real estate transactions are completed by real estate advisors. It is still a fairly new service in Spain.
This innovative activity is aimed primarily at buyers, private or foreign professionals, who do not have the time to prospect and visit, do not live on site, do not speak Spanish, do not trust local agencies or disregarding Spanish real estate law. As a Real Estate Advisor, we offer them our expertise. We visit, control and select properties that correspond to the wishes of our client, the English-speaking buyer. We help by negotiating the acquisition price. We accompany the buyer in all his legal, administrative, financial and contractual procedures. And, if the customer wishes, we can also manage the services or work related to renovation or upgrading, once the purchase is complete
Our role is complementary to real estate agencies. Our support allows a “balanced” negotiation. In fact, the real estate agent will defend the interests of his client, the seller, while we defend exclusively the interests of the buyer without any conflict of interest with the seller. Not having a real estate advisor is like going to a lawsuit without a lawyer and negotiating with the opposing lawyer. We can also advise you and refer you to other services (bank, notary, insurer, interior designer, contractor, etc.), before, during and after the purchase.
About 90% of the selection and purchases we accompany succeed. In the very opinion of our customers, we save them:
• time, our clients save three-quarters of the time they should have spent if they had decided to carry out the acquisition process themselves (this can be several weeks)
• money, in travel and money saved, but also when negotiating the price at its fair value (“locals” will always negotiate better than “foreigners”).
Our missions are detailed below (search of the property, control of the property, negotiation of the price, NIE and bank account, legal support, à la carte services).
1 – THE RESEARCH OF THE PROPERTY
By looking for the property for the buyer, we are able to save him a great amount of time and we assure him a targeted selection of the best properties that fit their wish list.
You describe in detail your real estate project and we define together the specifications of the research: location (region, city, coastline, inland), type of housing (villa, apartment), use (principal residence, second home, investment rental), characteristics (surface, rooms, swimming pool…), services (transport, shops, health services…), budget (acquisition, mortgage, renovation), and any other criterion which seems to you essential to you.
As a real estate advisor, we have a perfect understanding of the real estate market. We then prospect for you the available properties that best fit this specification. Locating a property of quality is our job. For each property visited, we send you by email a written report and a photo and video report of the property and its surroundings (transport and services in particular).
After the research phase, we organize with you, depending on your availability, one or two days of visiting the properties that meet your criteria. If you are interested in pre-qualifying for a mortgage, you can apply at a bank or with a mortgage broker, we can assist you with this process. (see point 7.d below).
2 – THE INSPECTION OF REAL ESTATE
You have selected your property at the end of the research phase. In Spain the buyer is responsible for inspecting the property, from the use classification and the title.
There are many questions. Are there any loans or liens on the property? Does the housing have the certificate habitation? Does the square meters match what the notary show? What are its actual size of the property (square meters / square feet)? In the case of a Home Owner Association (HOA), what are the planned or ongoing works to be completed, if any? Are payments of condominium fees, taxes and other charges up-to-date? What is the energy consumption of the housing? In the case of an old building, has it been inspected as required by law? Can you use the property as a rental?
This is where the real estate advisor comes in. We provide for you with all these reports. They are often overwheleming for people who do not speak Spanish. We review all administrative, legal and technical documents related to the property:
• the “Consulta descriptiva y grafica de cadastral datas” (legal description),
• the “Cédula de habitabilidad” (certificate of habitation),
• the “Nota simple informativa” (Property Registry document / title),
• the “Certificado energetico” (energy certificate),
• the “Certificado de aptitud” (in the case of older buildings, certificate of technical inspection ,
• the “Licencia turistica” (the license to use a rental accommodation),
• and the previous title.
Then we check in city hall for any pending municipal projects planned in the area. We don’t want you to be surprised to see a tower being built instead of your sea view!
Then, in the case of a Home Ownership Association, we check all the documents related to this HOA: last annual accounts, minutes of general meetings over the last 12 months, directors’ fees, outstanding balance of the various co-owners, work planned or in progress.
Finally, we check the status of current payments, the latest receipts from the IBI (Spanish Property Tax), electricity, gas, water and telephone.
We send you one or more reports detailing these items.
3 – PRICE NEGOTIATION
In parallel with the inspection of the property, we help you negotiate a fair price with the owner or his representative.
We help you to buy the desired property at its fair value, by negotiating at the best price. For this we have tools for estimating prices, based on the value of equivalent properties in the area. In addition, living in Spain the real estate advisor will find it easier to negotiate at the right price than a foreigner who does not live in Spain.
4 – N.I.E. AND THE BANK ACCOUNT
You cannot own property in Spain without having the NIE, the “Número de Identidad de Extranjero” (foreigners identification number). It is a unique and exclusive personal number that the National Police assigns to foreigners. This number appears on all public documents that will be sent to you or transmitted by various vendors. The NIE is also necessary for all administration requests or any type of business activity. We will assist you in this process which usually takes some time to complete (standard 2 to 3 months). If you wish to obtain it quicker, there is a quick request that can take up to 3 weeks or an express request that can take as little as 3 days. See 7a below.
Opening a bank account in Spain is not an required, but we strongly recommend it. It will be easier to make payment from a Spanish account than from an account abroad. For example you can use this account to pay property expenses such as taxes, electricity, gas, water, HOA fees. or to collect payments if you are sing it as a rental. We accompany you to several banks for the opening of an account. If you make a mortgage in Spain, the bank may require you to open an account.
5 – LEGAL
Our real estate lawyer will take care of writing in two languages, English and Spanish, legal documents throughout the purchase process:
• the “Paga y señal” (contract ensuring the property is off the market while in the sales process),
• the “Contrato de arras penitenciales” (sales agreement)
• and the “Escritura” (the notarial act of purchase).
We also review, in the case of a bank loan, the mortgage deed written by the bank. We ensure, in the end, the registration of the transaction in the Register of the Property.
6 – OUR FEES
Our entire real estate advisor service is the subject of a contract signed between you and us. This contract contains the details of the operations that we carry out for you, the duration and the conditions of execution, as well as the amount and the methods of payment of this service.
Our price is 2.5% of the purchase price for properties with an acquisition value of more than € 200,000 and € 4,500 for other all purchase below (excluding taxes). This sum is only due if successful. In case of failure, you only pay the requested advance, which amounts to 1500 €.
The amount of our service is largely amortized by the savings of travel expenses (plane, hotel and food) of our non-resident customers and especially by our ability to negotiate lower prices than non-professionals.
7 – REAL ESTATE ADVISOR SERVICES
Apart from our global service, we offer more targeted services. If you are interested in one or more of them, please contact us by mail to email@example.com. We will make you a personalized quote.
a. Quick or express NIE
You need NIE urgently; you cannot wait for the 2 or 3 months. We offer two options, a quick procedure in less than 3 weeks, and an express procedure in 3 days.
b. Control of the property
Our mission can be limited to the sole control of the property, which is presented in part 2 above.
c. Drafting and / or control of legal contracts
Our mission can be limited to the only legal accompaniment that is presented in part 5 above.
d. Funding research
We can look for financing for your property (usually not over 80%). Our advice: always have pre-financing agreements before the research
e. Golden Visa
You are a non-EU alien and you want to invest more than 500.000 € in a property in Spain. You are entitled to Golden Visa, a permanent visa for you and your family members. We are at your disposal for the procedure of obtaining.
f. Statements of tourist rental income
Since last year, any owner in Spain is required to report quarterly to the “Agencia Tributaria” (the tax department) its tourist rental income. We can realize this benefit for you.
g. Official estimate of a property Whether you are a seller or buyer, we can make an official estimate of the property that will allow you, among other things, to build your bank file, but also to negotiate better.
We remind you that if you are interested in one or more of the previous services, you can contact us by mail at (firstname.lastname@example.org).
8 – General information on the acquisition of property in Spain
To understand what a real estate advisor is in Spain, we advise you to read the following three articles:
- The pitfalls to avoid before buying
- Pitfalls to avoid during the purchase
- The pitfalls to avoid after the purchase
You are an English speaking real estate professional in Spain. You are interested in the profession of Real Estate Advisor for English-speaking clients. Join our network of English real estate advisers in Spain. Do not hesitate to contact us by mail (email@example.com).
With more than 20 years of experience in real estate acquisition procedures in Spain, we are at your disposal to assist you with all the necessary steps from the search for a property to services offered after the acquisition. When you are buying a home in Spain we help with organizing the visits of properties, the legal verification of the properties, the obtaining of a mortgage, the administrative procedures and the signature of the different notarized documents.
Do not hesitate to contact us!
Send an email to firstname.lastname@example.org.