REAL ESTATE
LA PALMA
(+34) 646 40 58 49
BUYING
Are you looking for your dream home, a beautiful flat or a plot of land with breathtaking sea views on La Palma, the Isla Bonita?
Our passion is to help you realise your dream.
We will assist you in all matters relating to the purchase of the property, right up to the signing of the purchase contract at the notary's office.
Buying a property is always a significant decision. As certified estate agents, we are your reliable partner on this exciting journey to your dream property on La Palma. Our goal is to support you with our expertise and experience and to offer you a positive and welcoming experience when buying a property.
Let us help you realise your property dream on La Palma!
An overview of our services for you in buying property:
SEARCH & FIND:
We can help you find the right property for you and are happy to search specifically for you. Just let us know if you would like us to add you to our customer database.
We always post new properties on our YouTube channel first. So if you subscribe to this channel, you will always be up to date.
We are happy to answer any questions you may have – online or in person by appointment.
A little tip for the first steps of your search:
Discover the diversity of La Palma without blindly following clichés. For example, you often hear statements such as: ‘It's always sunny and warm in the west, and always rainy and cold in the east’ or ‘You can only be happy on La Palma if you live below 400 metres above sea level.’ This is not true. Every part of the island has its own charm. Take your time to find out which location really suits your individual preferences.
La Palma is an island with diverse microclimates. It is worth discovering the subtle differences in the climate zones, which often appear within short distances – whether it's just ‘around the corner’ or ‘behind the barranco’. We are happy to help you find the perfect location so that you feel completely at home in your new home on La Palma.
VIEWING:
Before viewing the interior of a property, we strongly recommend that you first take your time to look at the location, surroundings and neighbourhood of your desired property and get a feel for the area. Allow yourself plenty of time for this and soak up the atmosphere. Ultimately, the most important thing is that you feel comfortable in this location.
If it feels right, then it's time for the next step: we will be happy to arrange a viewing appointment for you and also liaise with the owners to ensure that no questions remain unanswered. If you decide to purchase the property, we will provide you with expert support during the next steps, such as any price negotiations, the drafting of the preliminary contract (CONTRATO DE ARRAS) and the appointment with the notary.
DOCUMENT CHECKING:
We carefully check the ownership structure of the property, the location of the land and any special features on site. We inform you about the status of entries in the land registry and any existing usage regulations for the property.
We take care of processing all relevant property documents to ensure that the purchase goes smoothly.
We involve you in every step of the process and keep you informed.
STEP-BY-STEP PURCHASE PROCESS:
Once you have decided to purchase, we recommend that you attend a notary appointment with us and the owner to clarify any final issues that need to be resolved in advance so that the notary can prepare the purchase agreement without delay. In our experience, this joint meeting at the notary's office is a good basis for initiating a smooth purchase process.
PRELIMINARY CONTRACT (CONTRATO DE ARRAS):
The preliminary contract CONTRATO DE ARRAS is the legal and binding document used to reserve a property here before going to the notary. Reservations without a deposit are not possible.
As your estate agent, we will be happy to explain how this contract works and what important information it contains.
The preliminary contract is concluded directly between the buyer and seller. As your estate agent, we draw up this contract for you in a legally secure manner and also translate it into your language.
The preliminary contract contains the buyer's details, the seller's details, the property details, the amount of the deposit to be paid and the term of the contract and thus the latest date for the notary appointment.
As a rule, the term of the preliminary contract is three months – but this is negotiable between the parties. The deposit to be paid is usually 10% of the purchase price, which is due upon signing the preliminary contract.
Once you have signed and paid the deposit, your dream property is reserved for you and can no longer be sold to anyone else.
One more note: if you withdraw from the contract or do not attend the notary appointment (without extending the contract) within the agreed period, your deposit will be forfeited. Conversely, if the seller withdraws from the sale, they must repay your deposit and the same amount again as compensation.
N.I.E. (NÚMERO DE IDENTIFICACIÓN DE EXTRANJERO):
In order to finalise the purchase, as a non-Spanish citizen you will need an N.I.E. number (Número de Identificación de Extranjero). The N.I.E. number is a unique tax number for non-Spanish citizens, which is also required for other matters such as registering a car or changing the name on your electricity and water accounts.
As your estate agent, we will be happy to help you apply for your N.I.E. number here at the National Police Station in Santa Cruz de La Palma as part of the purchase process. Appointments for this can only be made online. Applying for the N.I.E. number can take some time, so it is advisable to complete this step early on (preferably immediately after signing the preliminary contract) so as not to delay the purchase process.
NOTARY APPOINTMENT:
We are here to answer any questions you may have about the purchase process and will organise the notary appointment for you.
Before the notary appointment takes place, we will check the draft of the notarial deed of sale (ESCRITURA DE COMPRAVENTA) for plausibility and send it to you afterwards so that you can get an idea of it yourself in advance.
The ESCRITURA DE COMPRAVENTA is the notarised purchase agreement that is drawn up when buying a property. This agreement sets out all the arrangements between the buyer and the seller. As your estate agent, we will explain the significance of the notarised deed of sale and the steps involved in signing it. The ESCRITURA DE COMPRAVENTA is the step that legally completes the property purchase here.
Of course, we will also accompany you during this final step and help with any translations that may be necessary.
The notary is responsible for drawing up the purchase contract and certifying the signatures of both parties.
Upon signing the ESCRITURA DE COMPRAVENTA, i.e. at the notary's office, the purchase price must be paid in full (minus the deposit paid under the CONTRATO DE ARRAS) and the keys to the property are handed over.
Payment of the purchase price is usually made during the appointment either by online transfer and forwarding the transfer confirmation to the notary (who then attaches this confirmation to the ESCRITURA DE COMPRAVENTA) or by handing over a bank cheque from a Spanish bank.
Please do not hesitate to contact us if you are unsure. We will help you to clarify any obstacles in advance, such as daily limits for online transfers, which you will need to adjust in advance in consultation with your bank.
Our goal is to provide you with a secure and smooth purchasing process.
One more note: a Spanish bank account is not absolutely necessary for purchasing a property. You can set this up later at your convenience once you can prove your residence here with your new property.
SUMMARY OF COSTS AND FEES WHEN PURCHASING A PROPERTY:
Property transfer tax: 6.5% of the purchase price
Land registry fees
Notary fees
Agency fee / commission for MI CASA EN LA PALMA INMOBILIARIA: 3% of the purchase price plus I.G.I.C. (Canary Islands VAT)
(Half of the agency fee, i.e. 1.5% plus I.G.I.C., is payable upon conclusion of a preliminary contract (Contrato de Arras), the other half, i.e. 1.5% plus I.G.I.C., upon conclusion of the notarised purchase contract.)
In total, the costs and fees for purchasing a property are estimated at around 11% - 12% of the purchase price.
Do you have any questions or would you like to buy a property?
Simply write to us via WhatsApp, Telegram or email!
Tel: (+34) 646 40 58 49
Email: info@mi-casa-en-la-palma.com