Buyers Info

Gran Canaria offers an easy and safe approach to home ownership, making the purchase of
a property in Gran Canaria an uncomplicated process that can be done in a relatively short time.

At nest, we think that buying a property in Gran Canaria should be an enjoyable,
personal experience, a dream that we would like to help you achieve.

 
 

FINDING YOUR
PROPERTY

If you are looking for properties for sale in Gran Canaria, we have apartments, bungalows and villas for sale. Browse our listings and find your dream property in the sun. Can't find what you're looking for? get in touch and we can search for the ideal place for you!

If you have found a property or properties that interest you, please email us and we will send you any additional information that you might require or organise a viewing at a suitable time for you.
Happy Search!

 

ASSOCIATED COSTS
AND TAXES

When buying a property in Spain, you should allow for an extra 10% for purchase costs and property taxes. If you are getting mortgage in Spain to buy a property in Gran Canaria, the payment of most of these taxes and fees will be handled by the bank´s appointed legal representatives (Gestoría). If you are a cash buyer you should appoint your lawyer to handle the payments of the taxes and other fees to ensure that the process is done correctly.

These taxes and costs are comprised of: 

› Notary Fees: These depend on a number of factors such as property price, number of attached documents and others. If you are taking out a mortgage in Spain you will have to pay for 2 deeds: the purchase deed and the mortgage deed.

› Property Transfer Tax: This is 6.5% of the property price. The buyer has a month to pay for this after you have signed the purchase of the property.

› Land Registry Fee: This is around 40% of the notary charges. 


Additional Charges you might have when buying a property in Gran Canaria:

› Lawyers Fees: Lawyers usually charge a percentage of the property price or in some cases
a fixed fee. It normally depends on the range of services you want the lawyer to perform.

› Legal Representative: If you are a non resident, you will need to hire a legal representative with an address in Spain when you buy a property in Gran Canaria. These services are handled by legal advisers or, in some cases, lawyers.

› Translator: The translation can be done by your nest agent, lawyer or by someone you know. Many Notaries have employees fluent in other languages who can handle the translation. However, if you decide to hire a certified translator, you should count on paying an hourly rate.

› Property surveyor:  If you take out a mortgage, your bank will send a surveyor to the property
to value it. This fee is usually around 300 Euros but can vary depending on a number of factors.

N.B. Please note that the information we have included in this article is intended for guideline purposes only. You should consult a lawyer or a legal advisor for an exact breakdown of what it would cost you to buy a property in Gran Canaria.

 

AFTER FINDING
YOUR DREAM HOME

Congrats! You found the one!

 When making an offer on the property, make sure you do so in writing. Ask your nest real estate agent to draw up an offer letter for you. In some cases, offers are submitted together with a deposit. This will show the owner of the property that you are a serious buyer and willing to
go forward with the transaction and buy the property if the seller would accept your offer.

 Once you have reached an agreement with the seller, a private contract will be drawn up requiring a deposit from the buyer. The deposit is normally 10% of the selling price of the property and will be deducted from the total selling price the day the property gets signed in the Notary. The following clauses should be included in the contract: Closing date stating when the property sale should be signed in front of the Notary, selling price of the property, amount left as deposit, a statement that the property is sold free of debts, etc.

› You must open a bank account in Spain where you´ll transfer the money for the purchase of the property.

 Obtain a NIE number from any Police Station in Spain. You will have to bring your original passport and a photocopy of it. The process takes approximately one week. You can appoint someone else to collect the document for you as long as you give this person the copy of
your application.

 Get a legal representative to handle your taxes every year. This is normally done by legal advisors, or, in some cases, lawyers might offer this service.

 Check that the property you are buying in Gran Canaria has no debt as in most cases you will inherit these when you purchase.

Buying a property in Gran Canaria is a seamless process, however you are  advised to use the services of a professional to guarantee that the whole transaction proceeds trouble free. If you are represented by a nest, we will walk with you every step of the way to ensure a perfect deal.

At nest we would love to represent you in the purchase of your property in Gran Canaria and ensure you enjoy the whole experience.

 

WHAT HAPPENS
NEXT?

You are the proud owner of a home in Gran Canaria! Before you pour yourself a cool glass of Sangria and lay down on your sun lounge to relax, there is still a little work to do:

Change the locks: Straight after having signed the Deeds of your new property, you should contact a locksmith to change locks. You never know who has had access to the property and
you will feel much safer in the knowledge that you are now the only one with the right keys.
Your real estate agent at nest will know a locksmith able to change your locks.

› Insure your new property in Gran Canaria:  If you have bought the property without a mortgage in Spain, you should get insured immediately. If you have taken out a mortgage in Spain, the bank will have insured the property and you will not need to worry about it.

› Introduce yourself to the Administrator of the Community of Owners: Bring a copy of the Deeds of your property with you to let them know you are the new proprietor. Arrange to pay the monthly maintenance fees, either by direct debit or by transferring the amount every month into their account. Give them your address so they can notify you when the owners´ meetings are taking place, etc.

› Change the water and electricity bills into your name. Your nest estate agent can help guide you to do this.

› Make a will in a Notary.

NEED HELP MAKING THE PLACE YOUR OWN?

› Every new homes needs those few personal touches. We have a network of contacts to help you create that dream kitchen, find that perfect couch or keep your garden perfect!