LEC in house legal department

We use very well established lawyers in Tenerife, who speak English They will advise you on the purchase procedures , searching for any debts or mortgages on selected property. This will guarantee that your purchase is safe and secure and registered in your name in the property registration office of the local town hall

Procedure

If your offer is accepted, you will be asked to pay a deposit, normally of 10%, into a client account, this when you can appoint the lawyer which costs 1200€. You can place your deposit with either your Agent or your Lawyer,

Having paid your 10% what now? Well your lawyer should immediately apply for a “Nota Simple” from the local Town Hall. This is a document which tells the lawyer if there are any charges, mortgages or embargos on the property. Assuming all is well, the Estate Agent or the Solicitor will draw up the “compraventa” (purchase and sale agreement) and this needs to be signed by you, and the sellers as soon as possible. Only Spanish language contracts are valid in Spain and you will be provided with an english translation

Later around 4/6 the completion will take place in the notary, he will also make his own checks on the legality of the purchase. You can make a power of attorney if unable to visit to complete your self this can be made with the lawyer.

Costs involved

6.5% transmission tax of the amount on the deed

Notary fee approximately 850€ and registration fee around 400€

Plus valia a local tax around 600€

Solicitor 1200€

All in around 10% or a little less of the amount on the deed

After this its a good idea to draw up a will which will make life less complicated for your family in the event of anything happening to you .We hope you enjoy your new apartment or house.