2nd Edition of the standard in the DG-Verlag published Berlin, October 10, 2008 – the number of German real estate owners in Spain is estimated at 300,000 to 500,000. So the dream of a holiday property does not become a nightmare, thorough preparation of the purchasing decisions and advice are needed. Lutz Minkner has closed a gap with the composing of real estate advisors which existed in the German-language literature on the special issues of Spanish real estate law. Meanwhile, the book in the trade press is known as the standard work on the subject of real estate in Spain, taking into account legal and fiscal aspects. Fully revised, updated and expanded the main issues for real estate purchase in Spain are represented with many sample cases, contract patterns and forms in the now released 2nd Edition on 438 pages: what are the tasks of advisors (brokers, lawyers, accountants, financial institutions) what these services cost? What are the essential differences between German and Spanish Contract law? What issues arise before conclusion of the contract, and how are to answer them? What legal status have book contracts, option contracts and private contracts? How do I recognize pitfalls? What obligations have the Gestoria, the notary and the Spanish property register? It makes sense to purchase a property through a company? In addition to the purchase price, taxes (tax or value added tax), as well as additional costs (notary, property register, Gestoria) incurred in the acquisition of Spain’s real estate.
The author explains how even this complex topic in a very vivid way. Also annually the owner must submit tax returns for income – and property tax, where however the wealth tax in Spain will be retroactively abolished to 1 January 2008. In the German press is often presented, on a housing estate in Spain, up to 80% were to pay inheritance taxes.
Who want to buy real estate abroad, you should consider a few things. There are certainly many reasons for the purchase of real estate abroad. Whether as a retirement home, second home, investment or destination many Germans dreaming of own property abroad and more and more people fulfill this dream. However, the acquisition of real estate abroad is regulated often significantly different than buying a real estate in Germany. In this respect, there are alone due to the different legal frameworks to observe a lot. A particularly large importance of questioning after the possibility of purchasing and checkout.
In practice buyers fail again and again, that the acquisition of real estate for foreigners in some countries is simply prohibited. In Thailand or the Philippines it is possible, for example, only complete long-term leasing contracts as well as impossible a land purchase by a foreigner. Is the acquisition of real estate allowed (this is in most countries Case), care should be taken on a safe and professional execution. Even if roads and mobile agents seem to have real estate to seemingly unbeatable prices on hand again and again, it comes again and again problems just in such transactions. To exclude a possible embezzlement from the front in, buyers of overseas property should generally insist on a settlement through a lawyer or notary. Just so it is ensured that the contract at the end of both sides and the seller do not suddenly disappears with the money of the buyer. But even with the settlement about a lawyer, it can cause problems.
In many countries, notaries are subject to not a such strict training and supervision as in Germany. Another important aspect in connection with real estate abroad is the build quality. Many potential homebuyers expect German build quality and Western European standard in countries where usually there is a different standard. In this respect must When buying real estate abroad often smears in terms of quality are made. In most countries, there is simply no objects, which the German build quality”match and if, then, these are usually priced in the premium segment. Channel plus Ltd.