It is not hard to see why so many people fall in love with the gorgeous island of Fuerteventura.
If you are thinking of buying property in Fuerteventura we have provided a quick guide to buying property in Fuerteventura below to help make the transaction as hassle free as possible.
What are the costs associated with buying property in Fuerteventura
Before you decide to buy a property in Fuerteventura you will need to make sure that you know what’s involved and in particular the associated costs involved.
Taxes and Fees:
You will need to know what taxes and fees are involved in buying a property in Fuerteventura to ensure you can afford these as well as the purchase price.
The rule of thumb is that for property purchases in Fuerteventura your should allow around an additional 10% of the property purchase price for the legal fees and purchase taxes etc (slightly more for lower value properties).
If you require a mortgage on your property in Fuerteventura, make sure that you know how much you can borrow and the realistic options available to you (see our Related Services page for help in relation to this).
You should also make sure you know what your on-going obligations would be in relation to the property in Fuerteventura once you have bought it. For example, you may require a Tourist Licence if you intend to rent out he property to tourists. You should also find out what the on-going tax and community fees for the property will be.
Think seriously about your currency exchange requirements and the consequences of potential currency fluctuations to your budget. Talk to a recommended currency specialist as early as possible to explore the ways they can minimise the cost to you of currency fluctuations and save you serious money on the currency exchange (often several thousands of pounds). Get in touch with a recommended currency specialist before you buy to see just how much you could save (see our Related Services page for further details).
Download your free legal buying guide to Spain here for more information.
Find an independent English-Speaking Lawyer in Fuerteventura
It is extremely important that you instruct a Lawyer when purchasing a property in Fuerteventura.
You should make sure you instruct an independent English-speaking Lawyer in Fuerteventura who has experience in advising UK clients in relation to property purchases. It is strongly advised that you do not use the lawyer recommended by your estate agent, seller or developer to ensure that your lawyer is acting solely to protect your best interests and to avoid any conflict of interest.
You can also provide your lawyer in Fuerteventura with a Power of Attorney so that they can deal with matters on your behalf when you are not in Fuerteventura. (See our article Giving Power of Attorney to Your Lawyer for more information).
Tip: It is never too early to get organised and in touch with a recommended lawyer in Fuerteventura. Getting in touch with a property solicitor in Fuerteventura early means that you will also be able to budget for their legal fees and will also have your lawyer in Fuerteventura on hand to assist you should you need to move quickly with regard to the property purchase.
Worldwide Lawyers will be happy to put you in touch with a recommended English-speaking independent lawyer in Fuerteventura who will be able to provide a quote for the legal fees once you have found the right property.
Worldwide Lawyers can assist you in finding an independent English-speaking lawyer for your property purchase anywhere on the island of Fuerteventura including Betancuria, Caleta de Fuste, Corralejo, Costa Calma, Gran Tarajal, Lajares, Puerto del Rosario and everywhere else!
Get an NIE Number
An NIE number will be required by all non-Spanish purchasers of property in Fuerteventura. Your lawyer will be able to assist you with getting an NIE number in Fuerteventura. For more information see our blog Getting a Spanish NIE Number.
The Property Buying Process in Fuerteventura
Once you have found you perfect property in Fuerteventura, your lawyer will undertake the relevant checks on the property. This will include checks at the local land registry, town hall and tax office to make sure that the property is free from problems. They will also make sure that the seller owns and had good title to the property and will check to ensure that you are allowed to use the property as you intend.
Make sure you obtain advice from a lawyer in Fuerteventura before handing over any deposit as deposits are usually non refundable should you pull out of the property purchase.
Completion of the property purchase in Fuerteventura
After your English-speaking lawyer in Fuerteventura has completed all the final checks on the property, they will prepare the final Purchase Deed and arrange between the parties a date for this to be signed at the Notary’s office in Fuerteventura.
To finalise the purchase, the Escritura de Compra Venta (Deeds) are signed in front of the Notary in Fuerteventura. The balance of the property price is paid together with the transfer taxes and you can then be registered as the new owners of your property in Fuerteventura.
Your lawyer may also assist you with setting up your utilities in Fuerteventura including council taxes and bank arrangements for water, electricity etc.
You can then enjoy your property in Fuerteventura with piece of mind!
If you would like further information about any aspects of buying a property in Fuerteventura contact Worldwide Lawyers on 01244 470 339 or at firstname.lastname@example.org and one of our friendly representatives would be happy to help.
Worldwide Lawyers can also put you in touch with a recommended English-speaking lawyer in Fureteventura and other specialists you can assist you with making your property purchase in Fuerteventura as hassle free and cost effective as possible.