Head office
C/ La Jaira, local nº4 bajo
El Matorral (Aeropuerto)
35600 Pto. del Rosario
Phone: (0034) 928 543 323
Fax: (0034) 928 543 453

Office Castillo Center
Av. Juan Ramón Morales
local nº22. C.C. Castillo
35610 Caleta de Fuste
Phone: (0034) 928 163 945
Fax: (0034) 928 160 411

Office Puerto Caleta
Av Juan Evora Suarez,
Aptos. Puerto Caleta local nº4
35610 Caleta de Fuste
Phone: (0034) 928 160 004
Fax: (0034) 928 160 017

Fuerteventura
Canary Islands
Spain

E-mail:
info@fuerteventuraresidences.com

FACTS| Fuerteventura | Caleta de Fuste facts | Corralejo facts | Costa Calma and Jandía facts
Buying a Property | Spanish Bank Accounts & Mortgages

Buying a Property

What is the property to be used for?
Permanent Residence, Holiday Home, Rental Income, Investment

Setting your budget
Research your capital available.

Non-Spanish residents can usually obtain a mortgage of up to 70% over a period of 15 years or more (80% for residents). This is subject to status, and dependant on age of the applicants.

Type of Property
Apartment, Traditional Finca, Villa, Bungalow, Duplex, Town House, Land or Commercial.

Your Property Requirements
Be realistic, and prioritise your requirements.

Nº of bedrooms, bathrooms, garden, plot size, swimming pool (private or communal),

Sun terrace, balcony.

Location
Beach, Mountains, Tourist Resort, Countryside, Residential.

Nearest town, beach, supermarket, school, medical care.

Buying a rental property?
Long term lets choose residential areas / towns.

Holiday Lets choose popular tourist resorts with good facilities located close by.

Once you have found your ideal property

Reservation Agreement
A deposit of between 3,000 & 6,000 euros is taken to block a property and to take it off the market. A reservation agreement is drawn up at this stage, detailing the buyer, the property, the owner and the price.

Lawyer
A lawyer will usually charge a set fee for a property purchase, often they ask for 50% to be paid when you appoint them, and the balance at the end of the purchase.

Your appointed lawyer will draw up a private contract agreement if required, and will check the property nota simple, which shows if there are any debts on it.

Private Contract
Within 1 Month the private agreement is signed, and up to 30% of the purchase price is paid. The lawyer will work with the seller to ensure all outstanding bills including utilites, and community charges are paid.

Escritura – Title Deed
At the Notary the completion if the property takes place, this is approximately 2 Months after the property reservation.

If you are not going to sign in person, it is easiest to sign over power of attorney for the purchase to your lawyer whilst you are in Fuerteventura.

If you have taken out a mortgage on the property the bank representative will also attend to pay and sign the mortgage. The title deed needs then needs to be registered.

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