Of the items that Tenerife offers its expatriate residents, the dependably good weather conditions are right up there at the top of their list. Elsewhere in Spain might offer similar cultural charm, but mainland Spain can shiver through the winter right combined with the all Europe.
While the remainder of Europe grinds into a halt within blanket of snow, Tenerife remains warm with maybe a brisk breeze to remind residents of colder climes back home.
It’s unsurprising then that more and more people consider Tenerife estate agents to get one of the more desirable locations that to retire. The warm dry weather conditions are kind to old bones the truth is for many years Los Cristianos had been a popular place to go for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to go to Tenerife one day, there are certain things that require be noted about buying property around the island. To begin with, although Spanish laws may look similar, they are not necessarily exactly like individuals in the rest of Europe.
Something to remember is debts remain with the property; they are certainly not fixed for the previous owner. It means when the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue on the new owner unless they are cleared before the sale undergoes. To ensure that you can find no nasty surprises the home buyer must ask for a Nota Simple.
In Spain, the document which matches the Title Deed in britain is referred to as the Escritura. This has to be formalised from a Notary and any Withholding Tax should the seller not resident in Tenerife should be paid in the Hacienda.
When your estate agent will give you advice, Transfer Tax is 6.5% of your sale price except in the case of a new property where you will have 5% IGIC (Canarian tax) to spend and .75% Transfer Tax.
In which you have bought a new property, you will need to pay 5% Canarian VAT (IGIC) and .75% Tenerife estate agents Tax.
Lastly, the brand new buyer really needs his name recorded on the land registry and all the bills then need to be transferred in the name from the new property owner.
There are more things to take into consideration when purchasing Tenerife estate agents, particularly the property you happen to be buying is certainly legal. In some cases, houses which can be on rural land may not be 100% above board.
The Tenerife government is not averse to bulldozing illegal structures to the ground and fining the owners so it is essential that anyone considering buying Tenerife property seeks the recommendation and support of the experienced and professional estate agent.