Buying Guides
To assist you in the buying process for Tenerife property, we have put together a list of useful and essential buying guides for the purchase of your property in Tenerife. An easy reference to the do's and don'ts of the buying process in Tenerife, which at the best of times can be quite taxing. Of course, we are also on hand to answer all your questions about your Tenerife property purchase and help you every step of the way in your quest for your place in the sun!
Foreign currency exchange
If you have decided on purchasing a property overseas, moving to a new country or simple investing abroad, you will need to ensure you change your money in the appropriate currency of that Country.
Legal procedures
Any person is able to buy in Tenerife. Non residents are able to proceed guided by a legal representative, which could be a lawyer, solicitor or an authorised Estate Agent.
You can also create a S.L. company, buy cars, run and administrate a business.
In Spain, private contracts and Title Deeds are completely valid, but for correct legal registration they have to be signed by a Notario/Lawyer. The expenses and taxes originated when you buy a property are subjected to the price to be written in the Deed.
Mortgages
Do you dream of buying the perfect home in Tenerife but are confused about how to raise the capital? Wady Properties can assist you in all aspects of arranging a mortgage from opening a bank account to receiving the mortgage to find your property purchase making it possible to turn your dream into reality!
Releasing your equity
In past years, the idea of owning a home abroad may have seemed out of reach for most people. However, over the past few years a growth in your existing property value means that the equity you may have in your current home can provide you with the means to achieve your dream of a Holiday home in the Sun.
Taxes
Unfortunately, nobody can avoid paying Taxes and now you have found your ideal property and want to go ahead and purchase the thought of complicated Taxes and additional costs can be daunting. Below we have provided a brief description of Taxes involved which are attached to property purchase for guideline purposes.
